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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 from a product or an investment in which you dont have to do any more work after you put it 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 you will ever be free of worrying about money and the only way that you will ever achieve financial independence.
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Im going to start with the simple passive income ideas, 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 list so make sure you stick around to grab those last couple of passive income plans. .
Swagbucks is a get-paid-to site so that you get paid to do things like take polls, play video games, watch movies and test out free product samples. Doing all these, 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 you rich but you can earn some legit money for less news than an hour of the time. Swagbucks users have redeemed over $344 million in benefits 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 approximately three and a half months, non-stop. The thing with Swagbucks though is that you can do it when youre doing something else so I flip through surveys and other things whilst 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 money back website where you receive a percentage discount on anything you buy online. What you do is start at the TopCashBack site 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 also get from 3 percent to 25% cash back on anything you buy. Youre still shopping directly on the merchants site so you receive the rest of the discounts and bargains they provide, you simply get an additional bonus for going through the TopCashBack web site first. .
TopCashBack is a little better with the average cash back around 6% of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy as you need to buy stuff to get the cash back but its 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 just like youre only writing random notes on a website. In fact, owning your own piece of digital property is large money.
I began my own sites in December 2014 and broke $5,000 a month just a couple of years later. I dropped $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to require work starting out. That path to $5,000 a month didnt happen overnight but only like real estate development, it build up 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 will continue to send visitors even have a peek here when I take a little time away. .