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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 some of them require a lot of work.
Passive income is money you earn out of a product or an investment where you dont need to do any more work once you put it up. That means consistent cash flow each month if youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way you will be free from worrying about money and the only way you will ever achieve financial independence.
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Im going to start with the easy passive income thoughts, the ones which you can begin making money on immediately and will operate through to the ones youll make the most money on as we go through the listing so be sure to stick around to grab those last couple of passive income strategies. .
Swagbucks is a get-paid-to website so that you get paid to do things like take polls, play video games, watch videos and try out free product samples. Doing all these, you earn points which are ordinarily 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 your time. Swagbucks users have redeemed over $344 million in benefits 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 view it hour this isnt something thats going to make you wealthy. Youd need to operate 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 take action when youre doing something else so I flip through polls and other stuff whilst 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 cash.
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TopCashBack is an online shopping money back website 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 money back program.
All these are everything from Nike to Home Depot and you get page from 3% to 25% cash back on anything you buy. Youre still shopping directly on the retailers site so that you receive the rest of the discounts and bargains they offer, you just get an extra bonus for going through the TopCashBack web site first. .
TopCashBack is somewhat better with the ordinary money back around 6 percent of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you rich as you have 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 big fan of the term blogger because it sounds just like youre only writing random notes on a site. In fact, owning your own piece of electronic real estate is big money.
I began my own sites in December 2014 and broke $5,000 per month just a couple of decades later. 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 path to $5,000 per month didnt happen overnight but only like real estate development, it build an advantage that now creates constant cash flow whether I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that will continue to send visitors even if I take a little time off. .