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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 solution or an investment in which you dont have to do any more work once you set it up. That means consistent cash flow every month whether youre working or not.
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Thats the only real way to financial freedom. Passive income is the only way you will be free of worrying about money and the only way that you will ever achieve financial independence.
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Im going to start with the easy passive income thoughts, the ones which you can start 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 couple of passive income strategies. .
Swagbucks is a get-paid-to website so that you get paid to do things such as take surveys, play video Going Here games, watch videos and test out free product samples. Doing all these, 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 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 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 though is you can do it when youre doing something else I flip through polls and other things 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 money.
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TopCashBack is an online shopping cash back site where you receive my review here a percentage discount on anything you buy online. What you do is start in the TopCashBack site then click through one of the 4,000 retailers using a cash back program.
All these are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you purchase. Youre still shopping right on the merchants site so you get all the other discounts and deals they offer, you just get an extra bonus for going through the TopCashBack web site first. .
TopCashBack is a little better with the ordinary cash back around 6% of your purchase so in the event that you spend $1,000 online youre going to get $60 go to my site back. Again, not something thats going to make you rich as you need to buy things to get 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 idea is blogging. Im not a huge fan of the term blogger because it sounds like youre only writing random notes on a site. In reality, owning your own piece of digital property is big money.
I started my own sites in December 2014 and broke $5,000 per month just two decades after. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to require work starting out. That path to $5,000 per month didnt happen overnight but just like real estate development, it build an advantage that now generates constant cash flow whether I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that will continue to send traffic even if I take a little time off. .