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You can work your ass off to earn 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 make from a product or an investment in which you dont have to do any more work after you set 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 you will be free of worrying about money and the only way that you could ever achieve financial independence.
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Im going to start with the easy passive income thoughts, the ones which you can start making money on instantly and will work through into the ones youll make the most money on as we go through the listing so be sure to 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 videos and test out free product samples. Doing all 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 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 hour so this isnt something thats going to make you rich. Youd need 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 that 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. Everything you do is start in the TopCashBack website 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 purchase. Youre still shopping directly on the merchants website so that you get all the other discounts and bargains they offer, you just get an additional bonus for going via the TopCashBack site first. .
TopCashBack is somewhat better with the average money back around 6% of website here 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 things to get 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 like youre only writing random notes on a website. In reality, 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 two years 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 only like property 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'll continue to send visitors even if I take a little time off. .