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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 take a good deal of work.
Passive income is money you make from a solution or an investment where you dont have to do any more work after you set it up. That means consistent cash flow each month whether 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 ever be free from worrying about money and the only way you could ever reach financial independence.
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Im going to start with the simple passive income ideas, the ones which you can begin making money on immediately and will operate through into the ones youll make the maximum money on as we go through the list so make sure you stick around to grab those last couple of passive income strategies. .
Swagbucks is a get-paid-to site so you get paid to do things like take polls, play video games, watch videos and try out free product samples. Doing each of them, you earn points that are ordinarily convertible to one hundred points for a buck.
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Now this isnt page 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 while and have found that the money works out to just under $2 an hour so this isnt something thats going to make you rich. Youd need to operate 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 take action when youre doing something else so I flip through polls and other stuff whilst Im cooking dinner or 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 website in which you receive a percentage discount on anything you buy online. What you do is start in the TopCashBack site then click through one of those 4,000 retailers with 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 directly on the merchants website so you receive the rest of the discounts and bargains they offer, you just get an extra bonus for going through the TopCashBack web site . .
TopCashBack is a little better with the average money back around 6% of your over here purchase so if you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you rich because you have to buy things 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 only writing random notes on a website. In reality, owning your own piece of digital real estate is big money.
I started my own sites in December 2014 and broke $5,000 per month just a couple of 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 real estate development, it build up an advantage that now creates constant cash flow whether I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that'll continue to send traffic even if I take a little time off. .