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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 some of them take a good deal of work.
Passive income is money you earn out of a product or an investment where you dont need to do any more work once you set 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 that you will be free from worrying about money and the only way that you could ever reach financial independence.
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Im going to begin with the easy passive income thoughts, the ones which you can start making money on instantly and will operate through into the ones youll make the most money on as we proceed through the listing so be sure you stick around to grab those last couple of passive income plans. .
Swagbucks is a get-paid-to website so that you get paid to do things like take surveys, play video games, watch videos and try out free product samples. Doing all them, 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 the time. Swagbucks consumers 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 that the money works out to i loved this just under $2 an hour this isnt something thats going to make you wealthy. 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 however is you can do it 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 cash back site where you receive a percentage discount on anything you buy online. What you do is start in the TopCashBack website then click through one of the 4,000 retailers using a money back program.
All these are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you purchase. Youre still shopping right on the retailers site so you get all the other discounts and bargains they offer, you just get an extra bonus for going via the TopCashBack web site . .
TopCashBack is somewhat better with the ordinary cash 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 as you have to buy stuff to get the money back but its 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 huge fan of the term blogger because it sounds like youre just writing random notes on a website. In fact, owning your own piece of digital property is big money.
I started my own sites in December 2014 and broke $5,000 a month just a couple of decades later. I averaged $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to take work starting out. That path to $5,000 per month didnt happen overnight but just like property 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 when I take a little time off. .