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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 make out of 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 you will ever be free from worrying about money and the only way that you could ever reach financial independence.
Im going to discuss my seven popular passive income resources, income flows I use to make money each month. Now Im not going to sugar coat this, a few of them are going to take work but will mean thousands a 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 instantly and will operate through into the ones youll create the maximum money on as we proceed through the list so be sure you stick around to grab those last couple of passive income plans. .
Our very first facet hustle idea is with deal sites like Swagbucks and TopCashBack. Now these are actually two different kinds of passive income thoughts because theyre different types of sites.
Swagbucks is a get-paid-to website so that you get paid to do things like take surveys, play video games, watch videos and try 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 your 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 so this isnt basics something thats going to make you wealthy. Youd need 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 you can take action when youre doing something else 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 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 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 with a cash back program.
All these are everything from Nike to Home Depot and you get from 3% to 25% cash back on anything you buy. Youre still shopping right on the merchants site so that you receive all the other discounts and bargains they offer, you simply get an additional bonus for going via the TopCashBack web site . .
TopCashBack is somewhat click to find out more better with the average cash back around 6 percent of your purchase so in the event that you spend $1,000 online youre going for $60 back. Again, not something thats going to make you wealthy because you need to buy stuff 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 idea is blogging. Im not a big fan of the term blogger as it sounds like youre only writing random notes on a website. 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 a month just a couple of years after. 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 route to $5,000 per month didnt happen overnight but just like real estate development, it build up an asset that now generates constant cash flow if I work or not. I receive over 30,000 visitors a month from Google search rankings, rankings that'll continue to send visitors even when I take a little time off. .