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You can work your butt off to make money but youll never get anywhere until you start making passive income. I make money on seven different income sources but a number of them take a good deal of work.
Passive income is money you make out of a product or an investment where you dont have to do any more work after you put this up. That means consistent cash flow each month if youre working or not.
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Thats the only real way to financial freedom. Passive income is the only way that you will be free of worrying about money and the only way you could ever reach financial independence.
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Im going to begin with the simple passive income ideas, the ones you can begin making money on immediately and will work through into the ones youll make the maximum money on as we proceed through the listing so be sure you stick around to catch those last couple of passive income plans. .
Swagbucks is a get-paid-to website so you get paid to do things like take polls, play video games, watch movies and try out free product samples. Doing all these, you earn points which are ordinarily convertible to one hundred points for a dollar.
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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 your time. Swagbucks consumers 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 this isnt something thats going to make you wealthy. Youd have to work 2,500 hours to make $5,000 so thats approximately three and a half months, non-stop. The thing with Swagbucks though is that you can do it when youre doing something else I flip through polls and other stuff whilst Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their special offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping money back site in which you receive a percentage discount on anything you buy online. What you do is start at the TopCashBack site then click through one of the 4,000 retailers with a money back program.
These are everything from Nike to Home Depot and you also get from 3% to 25% cash back on anything you purchase. Youre still shopping directly on the merchants site so you get the rest of the discounts and deals they offer, you simply get an extra bonus for going through the TopCashBack web site . .
TopCashBack is somewhat better with the ordinary money back around 6% of your purchase so in the event that you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you wealthy because you need to buy things 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 notion is blogging. Im not a huge fan of the term blogger because it address sounds like youre just writing random notes on a website. In reality, owning your own piece of electronic property is large money.
I started my own sites in December 2014 and broke $5,000 a month just two decades after. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to require work starting out. That path to $5,000 per month didnt happen overnight but just like property development, it build an advantage that now generates constant cash flow if I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that'll continue to send visitors even when I take a little time away. .