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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 some of them require a lot of work.
Passive income is money you earn out of a solution or an investment in which you dont need to do any more work after you set this 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 of worrying about money and the only way that you will ever achieve financial independence.
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Im going to start with the easy passive income thoughts, the ones you can begin making money on immediately and will operate through into the ones youll make the most money on as we go through the list so make sure you stick around to catch those last couple of passive income plans. .
Swagbucks is a get-paid-to website so you get paid to do things like take surveys, play video games, watch videos and test out free product samples. Doing all them, you earn points which 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 users 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 the money works out to just under $2 an hour so this isnt something thats going to make you rich. Youd need 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 do it when youre doing something else so I flip through surveys and other things while Im cooking dinner or even 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 money reference back site in which you receive a percentage discount on anything you buy online. What you do is start at 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 get from 3% to 25% cash back on anything you purchase. Youre still shopping directly on the retailers website so that you receive all the other discounts and deals they offer, you just get an extra bonus for going via the TopCashBack site first. .
TopCashBack is a little better with the ordinary cash back around 6% of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you rich as you need to buy stuff 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 idea is blogging. Im not a huge fan of the term blogger because it sounds like youre only writing random notes on a website. In fact, owning your own piece of electronic real estate is big money.
I started my own sites 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 property 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 will continue to send visitors even if I take a little time away. .