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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 a number of them require a lot of work.
Passive income is money you earn from a solution or an investment where you dont have to do any more work once you set it up. That means consistent cash flow every month whether youre working or not.
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Thats the only real 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.
Im going to share my seven popular passive income sources, income flows I use to create money each month. Now Im not going to sugar coat this, some of them are going to take work but may mean thousands a month you can count on.
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Im going to start with the easy passive income thoughts, the ones which you can begin making money on instantly and will operate through to the ones youll create the most money on as we go through the listing so make sure you stick around to grab those last few passive income strategies. .
Our very first facet holiday idea is with deal sites like Swagbucks and TopCashBack. Now these are actually two different kinds of passive income ideas because theyre different kinds of sites.
Swagbucks is a get-paid-to website so you get paid to do things such as take polls, play video games, watch videos and test out free product samples. Doing each of them, 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 rewards for gift cards and Amazon rewards.
Now Ive been using Swagbucks for a 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 have 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 take action when youre doing something else I flip through surveys and other things while Im cooking dinner or flipping channels. .
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TopCashBack is an online shopping cash back site where you get a percentage discount on anything you buy online. Everything you do is start in the TopCashBack site then click through one of the 4,000 retailers using 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 purchase. Youre still shopping right on the merchants site so you receive the rest of the discounts and bargains they offer, you simply get an extra bonus for going through the TopCashBack site Get More Info . .
TopCashBack is a little better with the average money 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 have 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 notion is blogging. Im not a huge fan of the term blogger as it sounds just like youre just writing random notes on a site. In fact, owning your own piece of digital real estate is large money.
I began my own websites in December 2014 and broke $5,000 per month just two years after. I dropped $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is still going to take work starting out. That path to $5,000 a month didnt happen overnight but just like property development, it build 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. .