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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 take a lot of work.
Passive income is money you earn out of a solution or an investment where you dont have to do any more work once you set it up. That means consistent cash flow every month if 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 from worrying about money and the only way you will ever achieve 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 operate through to the ones youll make the most money on as we proceed through the list so be sure to stick around to grab those last couple of passive income strategies. .
Swagbucks is a get-paid-to site so that you get paid to do things such as take polls, play video games, watch movies and test out free product samples. Doing all these, you earn points which are ordinarily convertible to one hundred try this site 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 wealthy. 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 take action when youre doing something else so I flip through surveys and other things while Im cooking dinner or 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 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 money back program.
All these are everything from Nike to Home Depot and you get from 3 percent to 25% cash back on anything you purchase. Youre still shopping right on the merchants site so you receive all the other discounts and deals they provide, you simply get an extra bonus for going via the TopCashBack web site first. .
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 for $60 back. Again, not something thats going to make you click here now rich as you have 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 notion is blogging. Im not a big fan of the term blogger as it sounds just like youre only writing random notes on a website. In reality, owning your own piece of electronic property is big money.
I started my own sites in December 2014 and broke $5,000 a month just two decades later. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to take work starting out. That route to $5,000 a month didnt happen overnight but only like real estate development, it build up an advantage 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 traffic even when I take a little time away. .