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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 a number of them take a lot of work.
Passive income is money you make from a product or an investment where you dont have 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 that you will ever achieve financial independence.
Im going to share my seven favorite passive income resources, income streams I use to create money every 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 simple passive income thoughts, the ones you can start making money on instantly and will work through to the ones youll make the most money on as we go through the list so make sure to stick around to catch those last few passive income plans. .
Our very first side holiday idea is with deal websites like Swagbucks and TopCashBack. Now these are actually two different types of passive income ideas since theyre different types of sites.
Swagbucks is a get-paid-to website so you get paid to do things like take surveys, play video games, watch movies and try out free product samples. Doing all 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 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 that the money works out to just under $2 an hour so this isnt something thats going to make you wealthy. Youd need to operate 2,500 hours to make $5,000 so thats about three and a half months, non-stop. The thing with Swagbucks though is that you can take action when youre doing something else so I flip through surveys and other stuff while Im cooking dinner or flipping channels. .
Swagbucks is offering a $5 cash bonus just for signing up through their distinctive 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 receive a Passive Income In Iran percentage discount on anything you buy online. What you do is start at the TopCashBack website then click through one of the 4,000 retailers using a money back program.
These are everything from Nike to Home Depot and you 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 bargains they offer, you simply get an extra bonus for going through the TopCashBack web site first. .
TopCashBack is a little better with the ordinary cash back around 6 percent of your purchase so in the event that 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 stuff to find the cash back but its 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 electronic real estate is big money.
I started my own sites in December 2014 and broke $5,000 a month just two years later. I averaged $5,500 through 2017 and thats not including side hustle work I did freelancing.
Blogging is going to require work starting out. That route to $5,000 a month didnt happen overnight but only like real estate development, it build up an advantage that now creates 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 traffic even when I take a little time away. .