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You can work your ass off to make 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 good deal of work.
Passive income is money you make 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 each month if 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 of 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 begin making money on instantly and will work through to the ones youll make the most money on as we proceed through the list so make sure you stick around to catch those last few passive income plans. .
Swagbucks is a get-paid-to website so 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 which 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 consumers have redeemed over $344 million in rewards for Recommended Reading gift cards and Amazon rewards.
Now Ive been using Swagbucks for a little 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 approximately 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 stuff whilst Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their special offer so sign up here to snag your bonus cash.
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TopCashBack is an online shopping cash back website where you get a percentage discount on anything you buy online. Everything you do is start in the TopCashBack website then click through one of the 4,000 retailers with 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 merchants website so you get the rest of the discounts and deals they offer, you just get an extra bonus for going via the TopCashBack web site first. .
TopCashBack is a little better with the average money back around 6 percent of your purchase so if you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you rich as you need to buy things to get 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 site. In reality, owning your own piece of digital real estate is big money.
I began my own websites in December 2014 and broke $5,000 per month just a couple of decades later. pop over here I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to take work starting out. That path to $5,000 per month didnt happen overnight but only like real estate development, it build up an asset that now creates constant cash flow whether I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that will continue to send traffic even when I take a little time off. .