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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 make out of 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 that you will be free from worrying about money and the only way you could ever achieve financial independence.
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Im going to start with the easy passive income thoughts, the ones which you can start making money on immediately and will work through into the ones youll make the most money on as we proceed through the list so make sure to stick around to grab those last few passive income plans. .
Swagbucks is a get-paid-to site so that you get paid to do things like take polls, play video games, watch movies and test out free product samples. Doing each of these, 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 the time. Swagbucks consumers 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 approximately three and a half months, non-stop. The thing with Swagbucks however is you can do it when youre doing something else so 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 snag your bonus money.
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TopCashBack is an online shopping cash back website where 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 with 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 buy. Youre still shopping right on the merchants site so you get all the other discounts and deals they provide, you simply get an extra bonus for going via the TopCashBack web site . .
TopCashBack is a little better with the average cash back around 6 percent of your purchase so if you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you wealthy because you need to buy things to get 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 like youre just writing random notes on a website. 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 decades later. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is address going to take work starting out. That route to $5,000 a month didnt happen overnight but only like real estate development, it build an asset that now generates constant cash flow whether I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that will continue to send visitors even if I take a little time away. .