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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 some of them require a lot of work.
Passive income is money you make from a product or an investment in which you dont need to do any more work after you put this up. That means consistent cash flow each month whether youre working or not.
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Thats the only real 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 will 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 immediately and will work through into the ones youll create the most money on as we go through the listing so be sure to stick around to catch 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 videos and test out free product samples. Doing each of them, you earn points that are usually 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 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 have to operate 2,500 hours to make $5,000 so thats about 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 polls and other stuff whilst Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up through their distinctive offer so sign up here to snag your bonus cash.
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TopCashBack is an online shopping money back site where you receive 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 with a money back program.
All these are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you buy. Youre still shopping right on the merchants website so you get the rest of the discounts and bargains they offer, you just get an additional bonus for going through the TopCashBack web site . .
TopCashBack is a little better with the average money back around 6% of your purchase so in the click for more event that you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy as you need to buy things to find the money 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 big fan of the term blogger as it sounds just like youre only writing random notes on a site. In reality, owning your own piece of digital real estate is big money.
I started my own sites in December 2014 and broke $5,000 a month just two decades after. I dropped $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is going to take work starting out. That path to $5,000 a month didnt happen overnight but only like property development, it build an have a peek at these guys asset 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 will continue to send traffic even if I take a little time off. .