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You can work your butt 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 good deal of work.
Passive income is money you make out of a solution 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 ever be free from worrying about money and the only way that you will ever reach financial independence.
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Im going to start with the simple passive income ideas, the ones which you can start making money on instantly and will work through into the ones youll create the most money on as we proceed through the listing so be sure you stick around to catch those last few passive income plans. .
Swagbucks is a get-paid-to website so that you get paid to do things such as take polls, play video games, watch videos 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 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 that 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 though is you can take action when youre doing something else I flip through polls and other stuff whilst Im cooking dinner or even 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 money back site learn the facts here now where you receive a percentage discount on anything you buy online. Everything you do is start in the TopCashBack website then click through one of those 4,000 retailers with a cash back program.
These are everything from Nike to Home Depot and you get from 3 percent to 25% cash back on anything you purchase. 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 through the TopCashBack site first. .
TopCashBack is a little better with the average cash 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 rich as you have to buy things to get the cash back but its free money on the click for more 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 because it sounds just like youre just writing random notes on a website. In reality, owning your own piece of digital real estate is big money.
I started 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 going to take work starting out. That route to $5,000 per month didnt happen overnight but just like property development, it my response build an advantage 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 when I take a little time away. .