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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 take a good deal of work.
Passive income is money you make out of a solution or an investment where you dont need 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 that you will ever reach financial independence.
Im going to share my seven popular passive income resources, income flows I use to create money each 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 begin making money on instantly and will operate through to the ones youll make the maximum money on as we go through the listing so make sure you stick around to grab those last few 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 ideas since theyre different kinds of websites.
Swagbucks is a get-paid-to site so that you get paid to do things like take surveys, play video games, watch movies and test out free product samples. our website Doing all these, 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 look at this now 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 the money works out to just under $2 an hour this isnt something thats going to make you wealthy. Youd have 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 you can do it when youre doing something else so I flip through polls and other things whilst Im cooking dinner or flipping channels. .
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TopCashBack is an online shopping money back site where you receive a percentage discount on anything you buy online. What you do is start in the TopCashBack website then click through one of those 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 purchase. Youre still shopping directly on the retailers site so that you receive all the other discounts and deals they offer, you just get an extra bonus for going through the TopCashBack web site . .
TopCashBack is a little better with the ordinary money 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 stuff 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 notes on a site. In reality, owning your own piece of digital real estate is large money.
I began my own websites in December 2014 and broke $5,000 per month just a couple of 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 per month didnt happen overnight but only like real estate development, it build an asset that now generates constant cash flow if I work or not. I get 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. .