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You can work your ass off to make 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 take a good deal of work.
Passive income is money you make from a product or an investment in which you dont need to do any more work once you set this up. That means consistent cash flow each 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 ever be free of worrying about money and the only way that you will ever reach financial independence.
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Im going to start with the simple passive income ideas, the ones which you can start making money on immediately and will work through to the ones youll create the most money on as we proceed 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 you get paid to do things like take surveys, play video games, watch movies and test out free product samples. Doing each of them, you earn points that 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 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 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 though is that you can do it when youre doing something else I flip through polls and other things whilst Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their distinctive offer so sign up here to helpful hints snag your bonus cash.
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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 using a cash back program.
All 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 retailers website so that you receive all the other discounts and deals they provide, you simply get an additional bonus for going through the TopCashBack web site first. .
TopCashBack is somewhat 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 rich as you need to buy stuff to get the cash back but its completely free money on the things my review here 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 just writing random notes on a website. In fact, owning your own piece of digital property is big money.
I began my own sites in December 2014 and broke $5,000 a month just two decades after. I dropped $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is going to take work starting out. That route to $5,000 per month didnt happen overnight but just like real estate development, it build up an asset that now creates 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 when I take a little time away. .