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You can work your ass 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 lot of work.
Passive income is money you make out of a solution or an investment in which you dont have to do any more work after 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 ever be free from worrying about money and the only way that you could ever achieve financial independence.
Im going to discuss my seven popular passive income sources, income streams I use to make money every month. Now Im not going to sugar coat this, some of them are going to take work but will mean thousands per month you can count on.
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Im going to begin with the easy passive income thoughts, the ones you can begin making money on instantly and will operate through to the ones youll create the most money on as we proceed through the listing so make sure to stick around to catch those last couple of passive income plans. .
Our first side hustle idea is with deal websites like Swagbucks and TopCashBack. Now these are actually two different types of passive income ideas because theyre different types of sites.
Swagbucks is a get-paid-to site so you get paid to do things like take surveys, play video games, watch movies and try out free product samples. Doing each of them, you earn points that 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 consumers 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 that the money works out to just under $2 an hour this isnt something thats going to make you wealthy. Youd need to work 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 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 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 receive a percentage discount on anything you buy online. What you do is start at the TopCashBack site then click through one of those 4,000 retailers with a money back program.
These are everything from Nike to Home Depot and you get from 3 percent to 25% cash back on anything you buy. Youre still shopping directly on the retailers website so you receive the rest of the discounts and deals they provide, you just get an extra bonus for going through the TopCashBack web site first. . navigate here
TopCashBack is somewhat better with the ordinary cash back around 6% 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 stuff 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 idea 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 large money.
I began my own sites in December 2014 and broke $5,000 per month just two years 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 a month didnt happen overnight but only like real estate development, it build an advantage that now creates 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 when I take a little time away. .