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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 require a lot 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 true way to financial freedom. Passive income is the only way that you will be free of worrying about money and the only way that you will ever reach financial independence.
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Im going to start with the simple passive income thoughts, the ones you can begin making money on instantly and will work through into the ones youll make the most money on as we go through the list so make sure you stick around to catch those last few passive income strategies. .
Swagbucks is a get-paid-to site so that you get paid to do things like take polls, play video games, watch movies and test out free product samples. Doing each of them, you earn points which 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 benefits 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 this isnt something thats going to his comment is here make you wealthy. Youd have to operate 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks though is you can take action when youre doing something else I flip through polls and other stuff 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 money.
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TopCashBack is an online shopping money back site in which you get 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 cash back program.
All these are everything from Nike to Home Depot and you get from 3 percent to 25% cash back on anything you purchase. Youre still shopping directly on the retailers website so that you get all the other discounts and bargains 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% of your purchase 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 stuff to get the cash back but its completely 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 big fan of the term blogger because it sounds like youre just writing random notes on a website. In fact, owning your own piece of digital real estate is big money.
I started my own websites in December 2014 and broke $5,000 a month just a couple of 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 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 if I take a little time off. .