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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 a number of them require a good deal of work.
Passive income is money you earn from a product or an investment where you dont need to do any more work after you set it 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 you will ever reach financial independence.
Im going to share my seven favorite passive income resources, 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 thoughts, the ones which you can begin making money on immediately and will work through into the ones youll create the most money on as we go through the list so be sure to stick around to grab those last few passive income plans. .
Our very first side holiday idea is with deal sites like Swagbucks and TopCashBack. Now these are actually two different kinds of passive income thoughts because theyre different types of websites.
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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, watch movies and try out free our website product samples. Doing all them, you earn points that are usually convertible to one hundred points for a dollar.
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 consumers have redeemed over $344 million in rewards 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 rich. Youd have to operate 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks however is that you can take action 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 through their special offer so sign up here to snag your bonus money.
TopCashBack is an online shopping cash back site where you receive a percentage discount on anything you buy online. Everything you do is start in the TopCashBack site then click through one of the 4,000 retailers with a money back program.
All these are everything from additional reading Nike to Home Depot and you get from 3% to 25% cash back on anything you purchase. Youre still shopping right on the merchants site so that you receive all the other discounts and bargains they provide, you just get an extra bonus for going via the TopCashBack web site . .
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TopCashBack is somewhat better with the average cash back around 6% of your purchase so in the our website event that 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 get the cash back but its completely free money on the things you were going to buy anyway. .