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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 some of them require a good deal of work.
Passive income is money you earn from a solution or an investment in which you dont have to do any more work once you put this 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 that you will ever be free of worrying about money and the only way you will ever reach 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 immediately and will operate through to the ones youll create the most money on as we proceed through the list so make sure to stick around to grab those last couple of passive income strategies. .
Swagbucks is a get-paid-to website so that you get paid to do things like take surveys, play video games, watch videos and test out free product samples. Doing each of these, you earn points that are usually 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 reference Ive been using Swagbucks for a little 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 have to work 2,500 hours to make $5,000 so thats about 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 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 distinctive offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping cash back site in which you get a percentage discount on anything you buy online. What you do is start in the TopCashBack website 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 percent to 25% cash back on anything you purchase. Youre still shopping directly on the retailers site so you receive all the other discounts and deals they provide, you just get an extra bonus for going through the TopCashBack site first. .
TopCashBack is a little better with the ordinary money back around 6% of your purchase so in the event that 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 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 big fan of the term blogger as it sounds like youre only writing random notes on a site. In fact, owning your own piece of digital property is big money.
I began my own websites in December 2014 and broke $5,000 per month just two decades later. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to take work starting out. That path to $5,000 a month didnt happen overnight but only like property development, it build an advantage that now creates constant 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 if I take a little time away. .