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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 some of them take a lot of work.
Passive income is money you earn out of a product or an investment in which you dont have to do any more work after you set it up. That means consistent cash flow every month if youre working or not.
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Thats the only real way to financial freedom. Passive income is the only way you will ever be free from worrying about money and the only way you will ever achieve financial independence.
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Im going to start 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 most money on as we go through the listing so make sure you stick around to catch those last few passive income plans. .
Swagbucks is a get-paid-to site so that you get paid to do things like take surveys, play video games, watch videos and test out free product samples. Doing all these, you earn points 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 the money works out to just under $2 an hour this isnt something thats going to make you rich. 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 however is you can take action when youre doing something else I flip through surveys and other things whilst Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their review special offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping money back site where you receive a percentage discount on anything you buy online. Everything you do is start in the TopCashBack website then click through one of those 4,000 retailers with a cash back program.
All 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 get the rest of the discounts and bargains they provide, you just get an extra bonus for going via the TopCashBack site . .
TopCashBack is somewhat better with the average cash back around 6% of your purchase so in the event that you spend $1,000 online youre going for $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 because it sounds just like youre just writing random notes on a website. In fact, owning your own piece of electronic property is large money.
I started my own sites read the full info here in December 2014 and broke $5,000 a month just two decades after. I averaged $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is going to take work starting out. That route to $5,000 a month didnt happen overnight but just like real estate development, it build up an advantage 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 traffic even when I take a little time away. .