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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 some of them take a lot of work.
Passive income is money you make out of a solution 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 whether youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way that you will ever be free from worrying about money and the only way that you will ever achieve financial independence.
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Im going to begin with the easy passive income ideas, the ones which you can start making money on instantly and will operate through into the ones youll create the maximum money on as we go through the list so make sure you stick around to catch those last couple of passive income strategies. .
Swagbucks is a get-paid-to website so you get paid to do things like take polls, play video games, watch videos and try out free product samples. Doing all these, you earn points that 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 wealthy. Youd have 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 whilst Im cooking dinner or 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 money.
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TopCashBack is an online shopping cash back website in which you receive a percentage discount on anything you buy online. What you do is start in the TopCashBack website then click through one of the 4,000 retailers using a cash back program.
All these are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you buy. Youre still shopping right on the retailers site so you get the rest of the discounts and bargains they offer, you just get an extra bonus for going via the TopCashBack site first. .
TopCashBack is somewhat better with the average cash back around 6 percent 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 need to buy things to find 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 because it sounds just like youre just writing random notes on a website. In reality, owning your own piece of digital real estate is big money.
I started my own websites in December 2014 and broke $5,000 a month just two years after. I averaged $5,500 through 2017 and thats not important site including side hustle work I did freelancing.
Blogging is going to take hop over to here work starting out. That path to $5,000 a month didnt happen overnight but only like real estate development, it build an asset 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 visitors even when I take a little time off. .