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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 require a lot of work.
Passive income is money you earn out of a product or an investment in which you dont need to do any more work after you set it 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 you will ever be free from worrying about money and the only way you will ever reach financial independence.
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Im going to start with the simple passive income thoughts, the ones which you can start making money on immediately and will operate through to the ones youll create the most money on as we go through the listing so make sure to stick around to catch those last couple of passive income strategies. .
Swagbucks is a get-paid-to site so you get paid to do things like take polls, play video games, watch videos and try out free product samples. Doing each of these, you earn points which are usually 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 the time. Swagbucks consumers have redeemed over $344 million in rewards for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a little while and have found the money works out to just under $2 an hour so this isnt something thats going to make you wealthy. Youd need to work 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks however is you can take action when youre doing something else so I flip through polls and other things while Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their distinctive offer so sign up here to snag your bonus money.
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TopCashBack this link is an online shopping cash back site where you get 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.
All 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 directly on the merchants website so you receive the rest of the discounts and deals they provide, you just get an extra bonus for going through the TopCashBack web site . .
TopCashBack is a little better with the ordinary money back around 6% of your purchase so if you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you wealthy because you have to buy stuff to find the cash 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 as it sounds like youre just writing random notes on a website. In reality, owning your own piece of digital property is big money.
I began my own sites in December 2014 and broke $5,000 a month just a couple of decades after. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to require work starting out. That path to $5,000 a month didnt happen overnight but only like web link 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 search rankings, rankings that will continue to send traffic even when I take a little time away. .