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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 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 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 of worrying about money and the only way you could ever reach financial independence.
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Im going to begin with the easy passive income thoughts, the ones you can begin making money on instantly and will operate through to the ones youll create the most money on as we proceed through the list so be 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 surveys, play video games, watch movies and try out free product samples. Doing each of these, you earn points that are ordinarily 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 users 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 so this isnt something thats going to make you wealthy. Youd have to work 2,500 hours to make $5,000 so thats approximately 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. .
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 in which you get a percentage discount on anything you buy online. What go to this web-site you do is start in the TopCashBack website then click through one of those 4,000 retailers using a money back program.
These are everything from Nike to Home Depot and you also get from 3% to 25% cash back on anything you buy. Youre still shopping right on the merchants website so you receive the rest of the discounts and deals they offer, you just get an additional bonus for going through the TopCashBack web site . .
TopCashBack is a little better with the average money back around 6% of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy because you need to buy stuff to find the money back but its free money on the things you were going to buy anyway. .
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Our next passive income idea is blogging. Im not a huge fan of the term blogger because it sounds like youre only writing random notes on a website. In reality, owning your own piece of electronic property is big money.
I started my own sites in December 2014 and broke $5,000 a month just two decades after. I averaged $5,500 through 2017 and thats not including side hustle 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 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'll continue to send visitors even when I take a little time off. .