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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 lot 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 put 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 you will ever be free from worrying about money and the only way you could ever achieve financial independence.
Im going to discuss my seven favorite passive income sources, income flows I use to create money every month. Now Im not going to sugar coat this, some of these are going to take work but may mean thousands per month you can count on.
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Im going to begin with the simple passive income thoughts, the ones which you can start making money on immediately and will operate through into the ones youll make the maximum money on as we proceed through the list so be sure to stick around to catch those last few passive income strategies. .
Our first side holiday idea is with bargain websites like Swagbucks and TopCashBack. Now these are actually two different kinds of passive income ideas since theyre different kinds of websites.
Swagbucks is a get-paid-to site so you get paid to do things like take surveys, play video games, watch videos and test out free product samples. Doing each of these, you earn points that 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 the 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 that the money works out to just under $2 an hour this isnt something thats going to make you wealthy. Youd have to operate 2,500 hours to make $5,000 so thats about 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 while Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up through their special offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping cash back website in which 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 using a cash back program.
All 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 site so that you get the rest of the discounts and deals they provide, you just get an extra bonus for going through the TopCashBack site first. .
TopCashBack is somewhat better with the average money back around 6% of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you rich because you need to buy stuff to get 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 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 started my own websites in December 2014 and broke $5,000 look at this now per month just a couple of decades later. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to take work starting out. That route to $5,000 a month didnt happen overnight but just like real estate development, it 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 off. .