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You can work your butt 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 require a good deal of work.
Passive income is money you earn from a solution or an investment in which you dont need to do any more work once 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 from worrying about money and the only way that you could ever achieve financial independence.
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Im going to begin with the simple passive income ideas, the ones which you can start making money on instantly and will operate through into the ones youll create the most money on as we go through the list so make sure you stick around to catch those last few passive income strategies. .
Swagbucks is a get-paid-to website so you get paid to do things such as take polls, play video games, watch videos and test out free product samples. Doing each of 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 rewards for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a while and have found the money works why not try these out 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 however is that you can do it when youre doing something else so I flip through surveys and other stuff whilst Im cooking dinner or even 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 get a percentage discount on anything you buy online. Everything you do is start at the TopCashBack website then click through one of the 4,000 retailers using 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 purchase. Youre still shopping directly on the retailers site so you get the rest of the discounts and bargains they offer, you just get an additional bonus for going via the TopCashBack web site first. .
TopCashBack is somewhat better with the ordinary cash back around 6% of your purchase so if you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you rich 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 because it sounds just like youre only writing random notes on a website. In reality, owning your own piece of digital property is big money.
I began my own websites in December 2014 and broke $5,000 a month just a couple of years later. I averaged $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 per month didnt happen overnight but only like property development, it build 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 will continue to send visitors even if I take a little time away. .