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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 good deal of work.
Passive income is money you make from a product or an investment where you dont have to do any more work once you set it up. That means consistent cash flow each month if 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 ever be free from worrying about money and the only way you could ever reach financial independence.
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Im going to start with the easy passive income thoughts, the ones which you can begin making money on instantly and will operate through into the ones youll create the maximum money on as we proceed through the listing so be sure to stick around to grab those last few passive income plans. .
Swagbucks is a get-paid-to website so you get paid to do things like take surveys, play video games, watch movies and test out free product samples. Doing all 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 your time. Swagbucks users have redeemed over $344 million in rewards 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 work 2,500 hours to make $5,000 so thats approximately 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 other things whilst Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their special offer so sign up here to snag your bonus cash.
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TopCashBack is an online shopping money back site where you receive a percentage discount on anything you buy online. Everything you do is start at the TopCashBack site then click through one of the 4,000 retailers using a money back program.
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 directly on the merchants website so you get all the other discounts and deals they provide, you simply get an extra bonus for going via the TopCashBack site first. .
TopCashBack is a little 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 wealthy as you have to buy stuff 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 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 per 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 per month didnt happen overnight but only like property development, it build an asset that now generates constant cash flow if I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that'll continue to send traffic even if I take a little time why not look here away. .