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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 some of them require a lot of work.
Passive income is money you earn out of a product or an investment where you dont need to do any more work after you set this up. That means consistent cash flow every 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 ever be free of worrying about money and the only way that you will ever achieve financial independence.
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Im going to start with the simple passive income thoughts, the ones which you can start making money on immediately and will work through into the ones youll make the maximum money on as we proceed through the list so make sure you stick around to grab those last couple of passive income strategies. .
Swagbucks is a get-paid-to website so you get paid to do things such as take polls, play video games, watch videos and test out free product samples. Doing each of these, you earn points which are ordinarily 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 little while and have found the money works out to just under $2 an hour this isnt something thats going to make you wealthy. Youd need to operate 2,500 hours to make $5,000 so thats approximately three and a half months, non-stop. The thing with Swagbucks however 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. .
Swagbucks is offering a $5 cash bonus just for signing up by using their special offer so sign up here to snag your bonus cash.
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TopCashBack is an online shopping cash back site in which you receive a percentage discount on anything you buy online. What you do is start at the TopCashBack site then click through one of those 4,000 retailers using a money back program.
These are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you buy. Youre still shopping right on the merchants site so you get all the other discounts and deals they provide, you simply get an additional bonus for going via the TopCashBack web site . .
TopCashBack is somewhat better with the ordinary money back around 6 percent of your purchase find this so if 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 things to find 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 notion is blogging. Im not a big fan of the term blogger as it sounds just like youre just writing random notes on a site. In fact, owning your own piece of electronic property is big money.
I began my own websites in December 2014 and broke $5,000 a 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 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 if I work or not. I receive 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. .