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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 good deal of work.
Passive income is money you make out of a solution or an investment where you dont need to do any more work once you set this 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 you will be free from worrying about money and the only way you could ever achieve financial independence.
Im going to discuss my seven popular passive income resources, income flows I use to create money each month. Now Im not going to sugar coat this, a few of these are going to take work but may mean thousands a month you can count on.
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Im going to begin with the simple passive income thoughts, the ones you can start making money on instantly and will operate through to the ones youll create the most money on as we proceed through the listing so be sure to stick around to catch those last couple of passive income strategies. .
Our very first facet hustle idea is with deal sites like Swagbucks and TopCashBack. Now these are actually two different kinds of passive income thoughts since theyre different kinds of sites.
Swagbucks is a get-paid-to site so you get paid to do things such as take polls, play video games, watch videos and try out free product samples. Doing all these, you earn points that are usually 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 useful link 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 like it 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 stuff while Im cooking dinner or even 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 money.
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TopCashBack is an online shopping money back website in which find out here now 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 also get from 3 percent to 25% cash back on anything you buy. Youre still shopping directly on the merchants site so you get the rest of the discounts and deals they offer, you just get an additional bonus for going via the TopCashBack web site first. .
TopCashBack is a little better with the average cash back around 6% 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 because you need to buy stuff to get the money back but its completely 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 big fan of the term blogger as it sounds just like youre just writing random notes on a website. In fact, owning your own piece of electronic property is big money.
I started my own sites in December 2014 and broke $5,000 a month just two years after. 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 route to $5,000 a month didnt happen overnight but only like real estate development, it build up an advantage 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 visitors even if I take a little time off. .