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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 have to do any more work once you put this up. That means consistent cash flow each month whether 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 from worrying about money and the only way you could ever achieve financial independence.
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Im going to begin with the simple passive income thoughts, the ones you can begin making money on instantly and will work through to the ones youll create the maximum money on as we proceed through the listing so make sure you stick around to grab those last few passive income strategies. .
Swagbucks is a get-paid-to website so you get paid to do things like take surveys, play video games, watch videos and test out free product samples. Doing all these, you earn points that 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 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 just under $2 an hour this isnt something thats going to make you wealthy. Youd have to operate 2,500 hours to make $5,000 so thats approximately three and a half months, non-stop. The thing with Swagbucks though is that you can take action when youre doing something else I flip through surveys and other things while 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 money.
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TopCashBack is over here an online shopping money 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 those 4,000 retailers using a money 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 buy. Youre still shopping directly on the retailers site so that you get all the other discounts and bargains they offer, you just get an additional 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, 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. .
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Our next passive income notion is blogging. Im not a big fan of the term blogger as it sounds like youre only writing random notes on a website. In reality, owning your own piece of digital property is large money.
I started my own websites in December 2014 and broke $5,000 per month just two decades 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 per month didnt happen overnight but just like property development, it build up an asset that now generates constant cash flow if I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that will continue to send traffic even if I take a little time away. .