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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 some of them require a lot of work.
Passive income is money you earn out of a solution or an investment in which you dont have to do any more work after you set this up. That means consistent cash flow each month if 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 of worrying about money and the only way that you could ever achieve financial independence.
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Im going to start with the simple passive income ideas, the ones 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 listing so be sure to stick around to catch those last few passive income strategies. .
Swagbucks is a get-paid-to site so you get paid to do things like take surveys, play video games, watch movies and test out free product samples. Doing each of these, 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 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 so this isnt something thats going to make you wealthy. Youd have to work 2,500 hours to make $5,000 so thats about three and website here a half months, non-stop. The thing with Swagbucks however is you can do it when youre doing something else so 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 distinctive offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping cash back site in which you get a percentage discount on anything you buy online. Everything you do is start in the TopCashBack website 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 get from 3 percent to 25% cash back on anything you buy. Youre still shopping right on the merchants website so that you get all the other discounts and deals they offer, you just get an extra bonus for going through the TopCashBack site . .
TopCashBack is a little better with the average cash back around 6% of your purchase so in the event that you spend $1,000 online youre going to get $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 idea is blogging. Im not a big fan of the term blogger because it sounds like youre just writing random notes on a site. In reality, owning your own piece of electronic real estate is large money.
I began my own websites in December 2014 and broke $5,000 a month just a couple of decades later. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to require work starting out. That path to $5,000 a month didnt happen overnight but only like property development, it build an advantage that now generates 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 visitors even if I take a little time off. .