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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 earn out of a solution or an investment where you dont have to do any more work after you put this up. That means consistent cash flow each 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 ever be free from worrying about money and the only way that you could ever reach financial independence.
Im going to discuss my seven favorite passive income sources, income flows I use to create money every month. Now Im not going to sugar coat this, some of these are going to take work but will mean thousands per month you can count on.
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Im going to start with the simple passive income thoughts, the ones you can start making money on immediately and will work through into the ones youll make the most money on as we go through the listing so make sure you stick around to grab those last few passive income plans. .
Our first facet hustle idea is with deal sites like Swagbucks and TopCashBack. Now these are actually two different types of passive income thoughts since theyre different types of websites.
Swagbucks is a get-paid-to website so you get paid to do things like take polls, play video games, watch videos and test out free product samples. Doing each of them, you earn points that 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 your time. Swagbucks consumers have redeemed over $344 million in benefits for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a while and have found the money works out to just under $2 an hour so this isnt something thats going to make you rich. Youd have 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 surveys and other things whilst Im cooking dinner or even flipping channels. .
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TopCashBack is an online shopping cash back website in which you receive a percentage discount on anything you buy online. Everything 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 also get from 3% to 25% cash back on anything you buy. Youre still shopping right on the merchants site so that you get the rest of the discounts and bargains they offer, you simply get an additional bonus for going via the TopCashBack site first. .
TopCashBack is a little better with the ordinary 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 wealthy because you have to buy stuff 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 you could check here notion is blogging. Im not a huge fan of the term blogger as it sounds just like youre just writing random notes on a site. In reality, owning your own piece of electronic real estate is big money.
I started my own websites 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 still going to take work starting out. That route to $5,000 a month didnt happen overnight but only like property development, it build an advantage that now creates constant click resources cash flow whether 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 away. .