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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 take a good deal of work.
Passive income is money you earn out of a product or an investment in which you dont need to do any more work after 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 you will be free of 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 ideas, the ones you can start making money on immediately and will work through to the ones youll make the maximum money on as we go through the list so make sure you stick around to grab those last few passive income plans. .
Swagbucks is a get-paid-to website so that you get paid to do things like take surveys, play video games, watch videos and try out free product samples. Doing all these, you earn points which are ordinarily 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 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 that 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 about three and a half months, non-stop. The thing with Swagbucks however is you can do it when youre doing something else I flip through polls 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 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 at the TopCashBack site then click through one of those 4,000 retailers with a money back program.
All 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 you get all the other discounts and deals they provide, you simply get an extra bonus for going through the TopCashBack web site . .
TopCashBack is a little better with the ordinary the original source money 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 rich because you need 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 huge fan of the term blogger because it sounds just like youre only writing random notes on a site. In fact, owning your own piece of helpful site electronic real estate is big money.
I began my own sites in December 2014 and broke $5,000 a month just a couple of 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 just like property development, it build up an asset that now generates constant cash flow if I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that will continue to send traffic even when I take a little time off. .