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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 some of them require a lot of work.
Passive income is money you earn out of a solution or an investment where you dont need to do any more work once you set it up. That means consistent cash flow each month whether 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 of worrying about money and the only way you will ever reach financial independence.
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Im going to begin with the easy passive income thoughts, the ones you can start making money on instantly and will work through into the ones youll create the most money on as we proceed through the listing so make sure to stick around to grab those last few passive income plans. .
Swagbucks is a get-paid-to website so you get paid to do things like take polls, play video games, watch movies and try out free product samples. Doing all them, you earn points which 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 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 so this isnt something thats going to make you wealthy. Youd need to work 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks however is that you can do it when youre doing something else so I flip through polls and other stuff 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 cash back site where you receive 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.
These are everything from Nike to Home Depot and you get from 3 percent to 25% cash back on anything you purchase. Youre still shopping right on the retailers website so you receive all the other discounts and deals they provide, you just get an additional bonus for going via the TopCashBack site . .
TopCashBack is somewhat better with the average cash 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 wealthy because you have to buy things to get the money 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 big fan of the term blogger as it sounds like youre just writing random notes on a website. read more 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 two decades later. I dropped $5,500 through 2017 and thats not including side holiday work I did freelancing.
Blogging is 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 asset that now generates 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 when I take a little time away. .