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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 lot of work.
Passive income is money you make from a product or an investment where you dont need to do any more work once you set 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 could ever reach financial independence.
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Im going to start with the simple passive income ideas, the ones you can start making money on instantly and will work through to the ones youll create the most 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 surveys, play video games, watch videos and try out free product samples. Doing each of them, you earn points which 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 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 to just under $2 an hour 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 I flip through surveys and click for info other stuff investigate this site while Im cooking dinner or even 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 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 the 4,000 retailers using a money back program.
All these are everything from Nike to Home Depot and you also get from 3 percent to 25% cash back on anything you buy. Youre still shopping right on the retailers site so you receive all the other discounts and bargains they provide, you simply get an extra bonus for going through the TopCashBack web site . .
TopCashBack is somewhat better with the ordinary money back around 6 percent 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 because you need to buy stuff to find 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 electronic property is large money.
I started my own sites in December 2014 and broke $5,000 a month just a couple of decades after. I dropped $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to take work starting out. That route to $5,000 per month didnt happen overnight but just like property development, it build up an advantage that now generates constant cash flow if I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that'll continue to send visitors even when I take a little time off. .