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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 solution or an investment in which you dont need to do any more work after you put it 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 be free of worrying about money and the only way you could ever reach financial independence.
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Im going to start with the easy passive income thoughts, the ones you can start making money on instantly and will work through to the ones youll make the most money on as we go through the list so be sure you 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 each of 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 the time. Swagbucks users have redeemed over $344 million in rewards 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 wealthy. Youd need to work 2,500 hours to make $5,000 so thats about my blog three and a half months, non-stop. The thing with Swagbucks though is you can do it when youre doing something else I flip through surveys and other stuff 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 click here now to snag your bonus cash.
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TopCashBack is an online shopping cash back website in which you get a percentage discount on anything you buy online. What you do is start at the TopCashBack site then click through one of those 4,000 retailers with a money 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 directly on the retailers site so you get the rest of the discounts and deals they provide, you just get an additional bonus for going through the TopCashBack web site . .
TopCashBack is a little better with the average money back around 6% 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 need to buy things to find the cash 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 as it sounds like youre just writing random notes on a website. In reality, owning your own piece of electronic property is big 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 still going to require work starting out. That path to $5,000 per month didnt happen overnight but just like real estate development, it build up an advantage that now creates constant cash flow if I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that'll continue to send visitors even if I take a little time away. .