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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 lot of work.
Passive income is money you earn from a solution or an investment where you dont have to do any more work once you put this up. That means consistent cash flow each month whether youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way that you will be free of worrying about money and the only way that you could ever reach financial independence.
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Im going to start with the simple passive income thoughts, the ones which you can begin making money on instantly and will work through to the ones youll create the maximum money on as we go through the listing so make sure you stick around to grab those last few passive income strategies. .
Swagbucks is a get-paid-to website 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 that 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 the time. Swagbucks consumers have redeemed over $344 million in rewards for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a while and have found the money works out to just under $2 an hour 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 do it when youre doing something else I flip through surveys and other things while 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 cash.
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TopCashBack is an online shopping cash back website where you get a percentage discount on anything you buy online. Everything you do is start in the TopCashBack website then click through one of those 4,000 retailers using a cash back program.
All these are everything from Nike to Home Depot and you advice also get from 3% to 25% cash back on anything you purchase. Youre still shopping right on the retailers site so that you get all the other discounts and deals they provide, you just get an additional bonus for going via the TopCashBack site . .
TopCashBack is somewhat better with the average cash back around 6 percent 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 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 notion is blogging. Im not a big fan of the term blogger as it sounds just like youre only writing random notes on a site. In fact, owning your own piece of digital real estate is large money.
I began my own sites in December 2014 and broke $5,000 a month just two decades later. 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 a month didnt happen overnight but just like property development, it build up an asset that now generates constant cash flow whether I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that'll continue to send traffic even when I take a little time off. .