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You can work your butt 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 make from a product or an investment in which you dont need to do any more work after you put it up. That means consistent cash flow each 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 that you could ever achieve financial independence.
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Im going to start with the easy passive income ideas, the ones you can start making money on instantly and will operate through into the ones youll create the most money on as we proceed through the listing so be sure to stick around to grab those last few passive income strategies. .
Swagbucks is a get-paid-to site so you get paid to do things like take surveys, play video games, watch videos and test out free product samples. Doing all 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 consumers have redeemed over $344 million in benefits for gift cards and Amazon rewards.
Now 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 need 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 I flip through surveys and other stuff whilst Im cooking dinner or flipping channels. .
Swagbucks is offering their website a $5 cash bonus just for signing up through their distinctive offer so sign up here to snag your bonus cash.
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TopCashBack is an online shopping money back site where you get a percentage discount on anything you buy online. What you do is start in the TopCashBack site then click through one of those 4,000 retailers using a cash back program.
These are everything from Nike to Home Depot and you also get from 3% to 25% cash back on anything you purchase. Youre still shopping right on the retailers site so you get the rest of the discounts and deals they provide, you simply get an extra bonus for going via the TopCashBack site . .
TopCashBack is a little better with the ordinary cash back around 6 percent 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 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 idea is blogging. Im not a huge fan of the term blogger because it sounds just like youre just writing random notes on a site. In fact, owning your own piece of electronic property is big money.
I started my own websites in December 2014 and broke $5,000 a month just a couple of years later. I dropped $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to require work starting out. That path to $5,000 a month didnt happen overnight but just like real estate 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 if I take a little time away. .