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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 out of a solution or an investment where you dont have to do any more work after 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 that you will be free of worrying about money and the only way you could ever achieve financial independence.
Im going to share my seven favorite passive income resources, income flows I use to make money every month. Now Im not going to sugar coat this, some 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 instantly and will work through into the ones youll create the most money on as we proceed through the listing so be sure you stick around to catch those last couple of passive income strategies. .
Our first side hustle idea is with deal websites like Swagbucks and TopCashBack. Now these are actually two different types of passive income thoughts since theyre different types of websites.
Swagbucks is a get-paid-to website so that you get paid to do things like take polls, play video games, watch movies and test out free product samples. Doing all these, you earn points which 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 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 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 stuff while Im cooking dinner or flipping channels. .
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TopCashBack is an online shopping money back website where you receive a percentage discount on anything you buy online. Everything you do is start in the TopCashBack site then click through one of those 4,000 retailers with a money back program.
These are everything from Nike to Home Depot and learn this here now you also get from 3% to 25% cash back on anything you buy. Youre still shopping directly on the retailers website so you get all the other discounts and deals they offer, you just get an extra bonus for going via the TopCashBack web site first. .
TopCashBack is a little better with the ordinary 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 get 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 idea is blogging. Im not a big fan of the term blogger as it sounds like youre only writing random notes on a site. In reality, owning your own piece of electronic real estate is big money.
I started my own websites in December 2014 and broke $5,000 per month just two decades after. I averaged $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 a month didnt happen overnight but only like see this here real estate development, it build an advantage that now generates constant cash flow if I work or not. I get over 30,000 visitors a month special info from Google search rankings, rankings that will continue to send traffic even when I take a little time off. .