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You can work your butt 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 require a good deal of work.
Passive income is money you earn from a solution or an investment where you dont have 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 real way to financial freedom. Passive income is the only way you will be free from 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 thoughts, the ones which you can start making money on instantly and will operate through into the ones youll create the most money on as we go through the listing so be sure to stick around to catch those last couple of passive income strategies. .
Swagbucks is a get-paid-to website so that you get paid to do things like take surveys, play video games, watch movies and test out official source free product samples. Doing each of them, you earn points which are ordinarily 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 users have redeemed over $344 million in rewards 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 work 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 polls 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 where you get a percentage discount on anything you buy online. Everything you do is start at the TopCashBack website then click More about the author through one of the 4,000 retailers using a cash back program.
All these are everything from Nike to Home Depot and you also get from 3% to 25% cash back on anything you buy. Youre still shopping right on the retailers site so you receive the rest of the discounts and deals they provide, you just get an extra bonus for going through the TopCashBack site . .
TopCashBack is a little better with the ordinary cash back around 6% 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 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 notion is blogging. Im not a huge fan of the term blogger because it sounds like youre only writing random notes on a site. In reality, owning your own piece of electronic property is big money.
I began my own websites in December 2014 and broke $5,000 a month just two years later. 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 path to $5,000 a month didnt happen overnight but just 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 when I take a little time away. .