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You can work your butt off to earn 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 make out of a product or an investment in which you dont have to do any more work once you set this up. That means consistent cash flow each month if 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 that you will ever achieve financial independence.
Im going to discuss my seven popular passive income sources, income streams I use to make money each month. Now Im not going to sugar coat this, a few 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 ideas, the ones which you can begin making money on immediately and will work through to the ones youll create the maximum money on as we go through the listing so make sure you stick around to grab those last couple of passive income plans. .
Our first side holiday idea is with bargain sites like Swagbucks and TopCashBack. Now these are actually two different types of passive income ideas because theyre different types of sites.
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Swagbucks is a get-paid-to site so you get paid to do things such as take polls, play video games, look at this site watch videos and test out free product samples. Doing each of these, you earn points which are ordinarily convertible to one hundred points for a buck.
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 consumers 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 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 stuff whilst Im cooking dinner or flipping channels. .
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Swagbucks is offering a $5 cash bonus just for signing up by using their special offer so sign up here to snag your bonus cash.
TopCashBack is an online shopping cash back site in which you receive a percentage discount on anything you buy online. Everything you do is start in the TopCashBack website 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 site so you get all the other discounts and bargains they provide, you just get an extra bonus for going via the TopCashBack site first. .
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TopCashBack is somewhat better with the ordinary cash back around 6% of your purchase so if you spend $1,000 online youre going to get $60 back. Again, not something thats going to make you rich as you need to buy things to get the money back but its free money on the things you were going to buy anyway. .