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You can work your ass 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 lot of work.
Passive income is money you earn from a product or an investment where you dont have to do any more work once you set this up. That means consistent cash flow each 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 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 thoughts, the ones which you can start making money on immediately and will work 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 plans. .
Swagbucks is a get-paid-to website so that you get paid to do things such as take surveys, play video games, watch movies and test out free product samples. Doing each of them, you earn points that are ordinarily convertible to one hundred points for a buck.
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Now this isnt something go now 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 rewards 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 rich. Youd need to operate 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 surveys and other things while Im cooking dinner or even 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 cash.
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TopCashBack is an online shopping cash back site where you receive a percentage discount on anything you buy online. What you do is start at the TopCashBack website then click through one of the 4,000 retailers using 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 purchase. Youre still shopping directly on the retailers site so that you get all the other discounts and bargains they offer, you simply get an additional bonus for going through the TopCashBack web site first. .
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 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 reality, owning your own piece of digital property is big money.
I began my own sites in December 2014 and broke $5,000 per month just two years after. I averaged $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is going to require work starting out. That route to $5,000 a month didnt happen overnight but only like real estate development, it build 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. .