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You can work your ass off to earn money but youll never get anywhere until you start making passive income. I make money on seven different income sources but some of them require a good deal of work.
Passive income is money you make from a product or an investment where you dont need to do any more work after you set this up. That means consistent cash flow every month whether youre working or not.
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Thats the only real way to financial freedom. Passive income is the only way you will ever be free from worrying about money and the only way that you will ever achieve financial independence.
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Im going to begin with the simple passive income ideas, the ones you can begin making money on instantly and will work through into the ones youll create the most money on as we go through the list so make sure to stick around to grab those last couple of passive income strategies. .
Swagbucks is a get-paid-to site so that you get paid to do things like take surveys, play video games, watch movies and test out free product samples. Doing each of these, you earn points which are usually convertible to one hundred points for a buck.
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Now this isnt something thats going to make you rich but you can earn some legit money for less than an hour of the time. Swagbucks users have redeemed over $344 million in benefits for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a while and have found that the money works out to just under $2 an hour so this isnt something thats going to make you rich. Youd have to work 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks though is you can do it when youre doing something else I flip through surveys and other things whilst Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their distinctive offer so sign up here go to this site to snag your bonus money.
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TopCashBack is an online shopping cash back site where you receive a percentage discount on anything you buy online. Everything you do is start at the TopCashBack site then click through one of those 4,000 retailers with a cash back program.
These are everything from Nike to Home Depot and you get from 3 percent to 25% cash back on anything you buy. Youre still shopping right on the retailers website so you receive the rest of the discounts and bargains they provide, you just get an additional bonus for going through the TopCashBack web site first. .
TopCashBack is a little better with the average money back around 6% of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy because you need to buy stuff to get the money back but its completely free money on the things you were going to buy anyway. .
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Our next passive income idea is blogging. Im not a huge fan of the term blogger because Go Here it sounds like youre just writing random notes on a site. In reality, owning your own piece of digital real estate is big money.
I began my own websites in December 2014 and broke $5,000 a month just two decades after. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to require work starting out. That route to $5,000 per month didnt happen overnight but only like property development, it build an asset that now creates constant cash flow if I work or not. I get over 30,000 visitors a month from Google link search rankings, rankings that will continue to send visitors even when I take a little time away. .