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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 a number of them require a lot of work.
Passive income is money you earn from a product or an investment in which you dont have to do any more work after you set this up. That means consistent cash flow every month if youre working or not.
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Thats the only real 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 achieve financial independence.
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Im going to begin with the simple passive income ideas, the ones you can begin making money on immediately and will operate through to the ones youll make the most money on as we proceed through the list so make sure to stick around to catch those last few passive income plans. .
Swagbucks is a get-paid-to website so that you get paid to do things such as take polls, play video games, watch movies and try out free product samples. Doing each of these, you earn points which are ordinarily convertible to one hundred points for a dollar.
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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 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 rich. Youd have to operate 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks though is you can take action when youre doing something else so I flip through surveys and other things whilst Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their distinctive offer so sign up here to snag your bonus cash.
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TopCashBack is an online shopping money back site where you get a percentage discount on anything you buy online. What you do is start at the TopCashBack website then click through one of those 4,000 retailers with a cash back program.
These are everything from Nike to Home Depot and here you get from 3 percent to 25% cash back on basics anything you buy. Youre still shopping directly on the merchants site so you get all the other discounts and deals they offer, you just get an extra bonus for going through the TopCashBack web site first. .
TopCashBack is somewhat better with the average cash back around 6 percent 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 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 as it sounds just like youre only writing random notes on a website. In fact, owning your own piece of digital property is big money.
I began 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 still going to take work starting out. That path to $5,000 per month didnt happen overnight but just like property development, it build up an asset 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 traffic even if I take a little time off. .