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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 from a solution or an investment in which you dont need to do any more work once you put it 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 of worrying about money and the only way that you will ever reach financial independence.
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Im going to begin with the simple passive income thoughts, the ones which you can begin making money on instantly and will work through to the ones youll make the maximum money on as we proceed through the list so be sure to stick around to catch those last few passive income plans. .
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 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 the money works out to just under $2 an hour 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 though is you can do it when youre doing something else so I flip through polls and other things whilst Im cooking dinner or even flipping channels. .
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TopCashBack is an online shopping money back website in which you get a percentage discount on anything you buy online. What you do is start in the TopCashBack site then click through one of those 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 right on the merchants website so you receive the rest of the discounts and bargains they offer, you simply get an additional bonus for going through the TopCashBack site . .
TopCashBack is a little better with the ordinary money 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 rich as 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 notion is blogging. Im not a big fan of the term blogger as it sounds like youre only writing random notes on a website. In fact, owning your own piece of electronic property is large money.
I started my own websites in December 2014 and broke $5,000 a month just two decades later. I dropped $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 up an asset 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'll continue to send visitors even if I take a little time off. .