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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 out of a solution or an investment in which you dont need to do any more work after you put this 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 that you will be free of worrying about money and the only way you will ever reach financial independence.
Im going to share my seven favorite passive income sources, income streams I use to make 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 begin with the easy passive income thoughts, the ones you can begin making money on immediately and will operate through to the ones youll make the maximum money on as we go through the list so be sure you stick around to catch those last couple of passive income plans. .
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 types of sites.
Swagbucks is a get-paid-to website so you get paid to do things like take polls, play video games, watch movies and test 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 your time. Swagbucks users 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 this isnt 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 surveys and other stuff while Im cooking dinner or even flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up by using their special offer so sign up here to snag your bonus money.
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TopCashBack is an online shopping cash back site in which you get a percentage discount on anything you why not try this out buy online. What you do is start in the TopCashBack website then click through one of the 4,000 retailers with a cash back program.
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 right on the merchants website so that you get the rest of the discounts and deals they offer, you simply get an additional bonus for going through the TopCashBack site . .
TopCashBack is a little 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 rich as you need 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 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 digital real estate is large money.
I started my own websites in December 2014 and broke $5,000 a month just a couple of decades after. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to take work starting out. That route to $5,000 per month didnt happen overnight but just like real estate development, it build an advantage that now generates constant cash flow whether I work or not. I get over 30,000 visitors a month from Google search rankings, rankings that will continue to send visitors even if I take a little time away. .