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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 lot of work.
Passive income is money you make from a solution or an investment in which you dont have to do any more work once you put it up. That means consistent cash flow each 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 could ever achieve financial independence.
Im going to discuss my seven popular passive income resources, income flows I use to create money every month. Now Im not going to sugar coat this, a few of them are going to take work but will mean thousands per month you can count on.
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Im going to start with the simple passive income ideas, the ones which you can start making money on immediately and will work through to the ones youll create the maximum money on as we go through the listing so be sure to stick around to catch those last few passive income strategies. .
Our very first side hustle idea is with bargain sites like Swagbucks and TopCashBack. Now these are actually two different types of passive income thoughts since theyre different kinds of websites.
Swagbucks is a get-paid-to site so you get paid to do things like take polls, play video games, watch videos and try out free product samples. Doing each of them, you earn points that are ordinarily why not find out more 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 benefits 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 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 take action when youre doing something else I flip through surveys and other things whilst Im cooking dinner or 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 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 using 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 directly on the retailers site so that you get the rest of the discounts and bargains they offer, you just get an extra 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 if you spend $1,000 online youre going for $60 back. Again, not something thats going to make you rich because you have to buy things to find the cash 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 because it sounds just like youre only writing random click this notes on a website. In fact, owning your own piece of electronic real estate is large money.
I began my own sites in December 2014 and broke $5,000 a month just two years after. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to require work starting out. That route to $5,000 per month didnt happen overnight but only like property development, it build an advantage that now creates constant cash flow whether I work or not. I receive 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. .