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You can work your ass 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 make out of a product or an investment where you dont have to do any more work once you set it 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 be free of 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 proceed through the listing so make sure you stick around to catch those last few passive income plans. .
Swagbucks is a get-paid-to site so you get paid to do things such as take polls, play video games, watch videos and try out free product samples. Doing all them, 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 navigate to this site 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 little while and have found that the money works out to just under $2 an hour this isnt something thats going to make you rich. 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 however is you can take action when youre doing something else I flip through surveys and other stuff whilst Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up through their special offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping cash back site where you get a percentage discount on anything you buy online. What you do is start at the TopCashBack website then click through one of those 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 buy. Youre still shopping directly on the merchants site so you get the rest of the discounts and bargains they provide, you simply get an additional bonus for going through the TopCashBack site first. .
TopCashBack is somewhat better with the average 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 have to buy things to find 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 sounds like youre only writing random notes on a site. In fact, owning your own piece of electronic property is large 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 still going to take work starting out. That path to $5,000 a month didnt happen overnight but just like real estate development, it build an advantage that now generates constant cash flow whether 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. .