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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 some of them require 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 after you set this up. That means consistent cash flow every 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 be free from worrying about money and the only way you could ever reach financial independence.
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Im going to begin with the easy passive income thoughts, the ones which you can start making money on immediately and will operate through to the ones youll make the maximum money on as we go through the list so be sure you stick around to grab those last few passive income strategies. .
Swagbucks is a get-paid-to site so that you get paid to do things such as take polls, play video games, watch videos and try out free product samples. Doing all these, you earn points which check this site out are ordinarily 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 the time. Swagbucks users 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 so this isnt something thats going to make you rich. Youd need to operate 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 polls and other things whilst 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 money.
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TopCashBack is an online shopping money back site in which you get a percentage discount on anything you buy online. What you do is start at the TopCashBack site then click through one of the 4,000 retailers using a cash back program.
These are everything from Nike to Home Depot and you also get from 3% to 25% cash back on anything you purchase. Youre address still shopping directly on the merchants site so you receive the rest of the discounts and deals they provide, you just get an additional bonus for going through the TopCashBack web site . .
TopCashBack is somewhat better with the average money back around 6% 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 rich because you need to buy things 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 idea is blogging. Im not a big fan of the term blogger as it sounds just like youre only writing random notes on a website. In fact, 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 a couple of decades after. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to require work starting out. That route to $5,000 per month didnt happen overnight but just like property development, it build an advantage that now generates constant cash flow if I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that will continue to send traffic even when I take a little time away. .