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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 out of a product or an investment in which you dont have to do any more work once you set it 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 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 simple passive income thoughts, the ones you can begin making money on instantly and will operate through into 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 such as take surveys, play video games, watch videos and try out free product samples. Doing each of these, you earn company website 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 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 this isnt something thats going to make you wealthy. 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 do it when youre doing something else so I flip through surveys and other things while Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up through their special offer so sign up here to snag your bonus cash.
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TopCashBack is an online shopping money back site in which you receive a percentage discount on anything you buy online. Everything you do is start try these out in the TopCashBack website then click through one of those 4,000 retailers using a money back program.
All 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 website so that you receive the rest of the discounts and bargains they offer, you simply get an extra bonus for going through the TopCashBack web site . .
TopCashBack is somewhat better with the average money 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 as you have 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 huge fan of the term blogger because it sounds like youre only writing random notes on a site. In reality, owning your own piece of digital real estate is large money.
I began my own websites in December 2014 and broke $5,000 a month just two years after. I dropped $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 property development, it build an advantage that now generates constant cash flow if I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that will continue to send traffic even if I take a little time off. .