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You can work your butt off to make 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 good deal of work.
Passive income is money you earn from a product or an investment in which you dont need to do any more work after you put this up. That means consistent cash flow every 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 that you will ever achieve financial independence.
Im going to share my seven favorite passive income resources, income streams I use to create money every 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 begin with the simple passive income thoughts, the ones which you can begin making money on instantly and will operate through into the ones youll make the maximum money on as we go through the listing so make sure you stick around to grab those last few passive income plans. .
Our very first facet holiday idea is with deal sites like Swagbucks and TopCashBack. Now these are actually two different types of passive income thoughts since theyre different types of sites.
Swagbucks is a get-paid-to site so you get paid to do things such as take polls, play video games, watch movies and test out free product samples. Doing each of 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 than an hour of your time. Swagbucks users have redeemed over $344 million in rewards 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 have to work 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 so I flip through polls and other stuff whilst 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 cash.
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TopCashBack is an online shopping cash back website where you get a percentage discount on anything you buy online. What you do is start in the TopCashBack site then click through one of the 4,000 retailers with a cash 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 directly on the merchants website so that you receive all the other discounts and bargains they offer, you simply get an extra bonus for going through the TopCashBack web site . .
TopCashBack is somewhat better with the average money back around 6 percent of your purchase so if you spend $1,000 online youre going for $60 back. Again, not something thats going to check these guys out make you wealthy because you have to buy stuff to find her response 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 notion is blogging. Im not a big fan of the term blogger as it sounds just like youre only writing random notes on a site. 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 per month just a couple of years later. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to require work starting out. That path to $5,000 a month didnt happen overnight but only like real estate 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 traffic even if I take a little time away. .