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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 take a lot of work.
Passive income is money you earn out of a product or an investment in which you dont have to do any more work once 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 that you will be free of worrying about money and the only way that you could ever reach financial independence.
Im going to discuss my seven popular passive income resources, income flows I use to create money every month. Now Im not going to sugar coat this, a few of them are going to take work but may mean thousands per month you can count on.
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Im going to start with the easy passive income ideas, the ones which you can begin making money on instantly and will work through into the ones youll make the maximum money on as we go through the listing so make sure you stick around to grab those last couple of passive income plans. .
Our very first side hustle idea is with deal websites like Swagbucks and TopCashBack. Now these are actually two different kinds of passive income ideas because theyre different kinds of sites.
Swagbucks is a get-paid-to website so that you get paid to do things such as take polls, 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 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 benefits for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a little while and have found the money works out Read Full Article to just under $2 an hour so this isnt something thats going to make you rich. Youd have to work 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks however is look here you can take action when youre doing something else I flip through polls and other things while Im cooking dinner or 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 cash.
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TopCashBack is an online shopping cash 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 money back program.
These are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you buy. Youre still shopping directly on the merchants website so you receive all the other discounts and deals they provide, you just get an additional bonus for going through the TopCashBack site . .
TopCashBack is a little better with the average money back around 6 percent 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 wealthy because 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 idea 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 electronic real estate is big money.
I started my own sites in December 2014 and broke $5,000 a month just a couple of years after. I averaged $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still 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 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 visitors even when I take a little time look at this website off. .