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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 from a product 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 true way to financial freedom. Passive income is the only way you will be free of worrying about money and the only way you could ever achieve financial independence.
Im going to discuss 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 a month you can count on.
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Im going to begin with the easy passive income thoughts, the ones which you can start making money on immediately and will operate through into the ones youll create the maximum money on as we go through the listing so be sure to stick around to catch 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 because theyre different types of sites.
Swagbucks is a get-paid-to website so you get paid to do things such as take surveys, play video games, watch movies and test out free product samples. 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 the time. Swagbucks users have redeemed over $344 million in benefits 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 rich. Youd have to operate 2,500 hours to make $5,000 so thats approximately three and a half months, non-stop. The thing with Swagbucks however is you can do it when youre doing something else 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 website in which 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.
These are everything from Nike to Home Depot and you also get from 3% to 25% cash back on anything you buy. Youre still shopping right on the retailers website so that you receive the rest of the discounts and bargains they provide, you simply get an additional bonus for going via the TopCashBack web site first. .
TopCashBack is somewhat better with the average cash 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 wealthy as you have to buy things find to get the money 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 huge fan of the term blogger because it sounds 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 two years after. I dropped $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is still going to require work starting out. That path to $5,000 a month didnt happen overnight but only like property development, it build an asset that now creates my site 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 visitors even when I take a little time off. .