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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 lot of work.
Passive income is money you make out of a solution or an investment where you dont need to do any more work after you set it up. That means consistent cash flow every 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 you could ever achieve financial independence.
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Im going to start with the simple passive income thoughts, the ones you can start making money on instantly and will work through to the ones youll create the maximum money on as we go through the listing so be sure you stick around to grab those last few passive income strategies. .
Swagbucks is a get-paid-to website so that you get paid to do things like take polls, play video games, watch movies and test out free product samples. Doing all them, you earn points which 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 your 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 this isnt something thats going to make you rich. 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 so 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 website where you get a percentage discount on anything you buy online. Everything you do is start at the TopCashBack site then click through one of the 4,000 retailers with a money back program.
These are everything from Nike to Home Depot and you get from 3 percent to 25% cash back on anything you buy. Youre still shopping right on the merchants site so you receive all the other discounts and deals they offer, you just get an extra bonus for going through the TopCashBack site first. .
TopCashBack is somewhat better with the ordinary cash back around 6 percent of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy as you have to buy stuff 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 idea 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 fact, owning your own piece see of electronic property is large money.
I started my own websites in sites December 2014 and broke $5,000 per month just two years later. I averaged $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to take work starting out. That path 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 if I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that'll continue to send traffic even if I take a little time away. .