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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 require a good deal of work.
Passive income is money you earn from a product or an investment where you dont need to do any more work after you put this up. That means consistent cash flow each month whether youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way that you will be free of worrying about money and the only way that you will ever reach financial independence.
Im going to discuss my seven popular passive income resources, income streams I use to make money each month. Now Im not going to sugar coat this, a few of these are going to take work but will mean thousands per month you can count on.
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Im going to start with the easy passive income ideas, the ones which you can start making money on instantly and will work through to the ones youll create the maximum money on as we proceed through the list so be sure you stick around to catch those last couple of passive income plans. .
Our very first facet hustle idea is with bargain websites like Swagbucks and TopCashBack. Now these are actually two different types of passive income thoughts since theyre different kinds of websites.
Swagbucks is a get-paid-to website so that you get paid to do things like take surveys, play video games, watch movies and try out free product samples. Doing all these, you earn points that are usually 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 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 about three and a half months, non-stop. The thing with Swagbucks though is that you can take action when youre doing something else so I flip through surveys and other things whilst Im cooking dinner or even flipping channels. .
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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 website then click through one of those 4,000 retailers with a cash back program.
All these are everything from Nike to Home Depot and you also get from 3% to 25% cash back on anything you purchase. Youre still shopping right on the retailers site so that you receive all the other discounts and deals they provide, you just get an additional bonus for going via the TopCashBack 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, not something thats going to make you rich because you have to buy things to find the cash back but its free money on the things you were going to buy anyway. article .
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Our next passive income idea is blogging. Im not a big fan of the term blogger because it sounds like youre only writing random notes on a website. In reality, owning your own piece of digital property is big money.
I started my own sites in December 2014 and broke $5,000 per month just a couple of 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 route to $5,000 a month didnt happen overnight but only like real estate development, it build an asset that now generates constant cash flow whether I work or not. I get 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. .