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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 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 every month if youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way 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 sources, income streams I use to create money each month. Now Im not going to sugar coat this, some of these are going to take work but may mean thousands a month you can count on.
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Im going to start with the simple passive income ideas, the ones you can start making money on instantly and will work through to the ones youll create the most money on as we go through the listing so make sure to stick around to catch those last few passive income strategies. .
Our very first facet holiday idea is with deal sites like Swagbucks and TopCashBack. Now these are actually two different kinds of passive income ideas because theyre different kinds of websites.
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 them, you earn points which are ordinarily convertible click site 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 the time. Swagbucks users have redeemed over $344 million in benefits 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 so this isnt something thats going to make you wealthy. Youd need 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 I flip through surveys and other stuff while Im cooking dinner or flipping channels. .
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TopCashBack is an online shopping cash back website 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 the 4,000 retailers with a cash 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 purchase. Youre still shopping right on the merchants website so that you get the rest of the discounts and bargains they offer, you simply get an extra bonus for going via the TopCashBack site . .
TopCashBack is somewhat better with the average money back around 6% of your purchase so in the event that you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you wealthy because you need to buy stuff to find the cash back but its completely 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 big fan of the term blogger because it sounds just like youre only writing random notes on a site. In reality, owning your own piece of electronic real estate is large money.
I began my own sites in December 2014 and broke $5,000 per month just two decades after. I dropped $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is going to require work starting out. That route to $5,000 per month didnt happen overnight but only 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 if I take a little time off. .