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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 good deal of work.
Passive income is money you earn from a product or an investment where you dont need to do any more work once you set this up. That means consistent cash flow every month whether 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 of worrying about money and the only way you could ever achieve financial independence.
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Im going to begin with the simple passive income ideas, the ones which you can begin making money on immediately and will operate through to the ones youll make the maximum money on as we go through the listing so be sure to stick around to catch those last couple of passive income plans. .
Swagbucks is a get-paid-to website so that you get paid to do things like take surveys, play video games, watch movies and test out free product samples. Doing each of these, you earn points click to read more that 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 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 so this isnt something thats going to make you wealthy. Youd need 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 you can take action when youre doing something else I flip through polls and other stuff while 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 cash.
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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 the 4,000 retailers with a cash back program.
These are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you buy. Youre still shopping directly on the merchants site so you receive all the other discounts and bargains they offer, you just get an additional bonus for going through the TopCashBack site . .
TopCashBack is somewhat better with the ordinary money back around 6 percent 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 as 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 as it sounds just like youre only writing random notes on a website. In reality, owning your own piece of digital real estate is large money.
I started my own sites in December 2014 and broke $5,000 per month just a couple of decades later. I averaged $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 per month didnt happen overnight but just like property development, it build up an asset that now generates constant cash flow whether I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that will continue to send visitors even when I take a little time off. .