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You can work your ass 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 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 once you put it up. That means consistent cash flow every month whether youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way you will ever be free of worrying about money and the only way you could ever reach financial independence.
Im going to discuss my seven favorite passive income sources, 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 you can start making money on instantly and will operate through into the ones youll create the most money on as we go through the listing so be sure to stick around to grab those last couple of passive income strategies. .
Our first facet hustle idea is with deal websites 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 site so you get paid to do things such as take polls, play video games, watch movies and try out free product samples. Doing each of them, 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 the 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 so this isnt something thats going to make you rich. Youd need to work 2,500 hours to make $5,000 so thats approximately three and a half months, non-stop. The thing with view publisher site Swagbucks however is you can do it when youre doing something else I flip through surveys 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. Everything you do is start at the TopCashBack site then click through one of those 4,000 retailers using a money back program.
All these are everything from Nike to Home Depot and you also get from 3 percent to 25% cash back on anything you buy. Youre still shopping directly on the merchants site so you get the rest of the discounts and bargains they offer, you just get an additional bonus for going through the TopCashBack web site first. .
TopCashBack is a little better with the ordinary money 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 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 notion is blogging. Im not a huge fan of the term blogger as it sounds just like youre just writing random notes on a site. In fact, owning your own piece of digital 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 still going to take work starting visit this website out. That route to $5,000 per month didnt happen overnight but only like property development, it build up an asset that now generates 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 when I take a little time off. .