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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 have to do any more work after you set this 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 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 you can start making money on instantly and will work through to the ones youll create the most money on as we proceed through the listing so be sure you stick around to grab those last few passive income plans. .
Swagbucks is a get-paid-to website so you get paid to do things such as take surveys, play video games, watch movies and test out free product samples. Doing each of them, you earn points that are usually 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 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 that 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 do it when youre doing something else I flip through surveys and other stuff while Im cooking dinner or even 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 cash.
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TopCashBack is an online shopping money back website where you get a percentage discount on anything you buy online. Everything you do is start at the TopCashBack website then click through one of those 4,000 retailers using a cash back program.
These are everything from Nike to Home Depot and you also get from 3 percent to 25% cash back on anything you purchase. Youre still shopping directly on the retailers site so that you get all the other discounts and bargains they provide, you simply get an extra bonus for going through the TopCashBack web site . .
TopCashBack is a little better with the average cash back around 6 percent of your purchase so in the event that you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy 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 notion is blogging. Im not a big fan of the term blogger as it sounds like youre just writing random notes on a website. In reality, owning your own piece of electronic real estate is large money.
I started my own sites in December 2014 and broke $5,000 per month just a Your Domain Name couple of years later. I averaged $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to require work starting out. That route to $5,000 a try these out month didnt happen overnight but just like property development, it build up 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'll continue to send visitors even when I take a little time off. .