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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 good deal of work.
Passive income is money you earn from a product or an investment in which you dont have 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 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 begin making money on immediately and will work through to the ones youll create the most money on as we go through the listing so make sure to stick around to catch those last couple of passive income plans. .
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 try out free product samples. Doing all these, you earn points which are usually 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 benefits for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a little while and have found more the money works out to just under $2 an hour this isnt something thats going to make you rich. Youd need 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 you can take action when youre doing something else I flip through surveys and other stuff while Im cooking dinner or 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 cash back website where you get a percentage discount on anything you buy online. What you do is start in the TopCashBack website 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 site so that you get all the other discounts and bargains they provide, you simply get an extra bonus for going through the TopCashBack web site . .
TopCashBack is a little better with the average 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 wealthy as you need to buy things 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 idea is blogging. Im not a huge fan get more of the term blogger because it sounds like youre only writing random notes on a site. In fact, owning your own piece of electronic property is large money.
I began my own websites in December 2014 and broke $5,000 a month just two decades after. I averaged $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to require work starting out. That path to $5,000 per month didnt happen overnight but just like property development, it build an advantage that now creates 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 traffic even when I take a little time away. .