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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 lot of work.
Passive income is money you make out of a product or an investment in which you dont need to do any more work once you put this 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 that you will be free of worrying about money and the only way you could ever achieve financial independence.
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Im going to start with the simple passive income ideas, the ones you can begin making money on instantly and will work 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. .
Swagbucks is a get-paid-to site so that you get paid to do things like take polls, play video games, watch videos and try out free product samples. Doing all them, 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 users 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 the money works out to just under $2 an hour so 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 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 special offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping money back site where you receive a percentage discount on anything you buy online. Everything you do is start in the TopCashBack site then click through one of the 4,000 retailers with a cash back program.
These are everything from Nike to Home Depot and you also get from 3 percent to 25% cash back on anything you purchase. Youre still you can find out more shopping directly on the retailers website so that you receive all the other discounts and bargains they provide, you just get an extra bonus for going via the TopCashBack web site . .
TopCashBack is somewhat 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, check out here not something thats going to make you rich because you need to buy stuff to find the cash back but its completely free money on the things you were going to look here buy anyway. .
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Our next passive income notion is blogging. Im not a big fan of the term blogger as it sounds just like youre just writing random notes on a website. In fact, owning your own piece of electronic property is big money.
I started my own websites in December 2014 and broke $5,000 per month just a couple of decades after. I averaged $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 real estate development, it build up an advantage that now generates constant cash flow whether I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that will continue to send traffic even if I take a little time off. .