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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 product or an investment in which you dont have to do any more work once you set it up. That means consistent cash flow each 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 ever be free from worrying about money and the only way you could ever reach financial independence.
Im going to share my seven popular passive income sources, income flows 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 a month you can count on.
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Im going to start with the simple 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 list so make sure you stick around to catch those last few passive income plans. .
Our first side hustle idea is with deal sites like Swagbucks and TopCashBack. Now these are actually two different types of passive income thoughts 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, watch movies and try out free product samples. Doing each of these, you earn points which 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 the 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 the money works out to just under $2 an hour so this isnt something thats going to make you wealthy. 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 though is you can do it when youre doing something else I flip through surveys and other stuff whilst Im cooking dinner or even flipping channels. .
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Swagbucks is offering a $5 cash bonus just for signing up by using their distinctive offer so sign up here to snag your bonus cash.
TopCashBack is an online shopping cash back website in which you get a 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 with a cash back program.
All these are everything from Nike to Home Depot and you also get from 3 percent to 25% cash back on anything you purchase. Youre still shopping right on the retailers website so you get the rest of the discounts and bargains they provide, you simply get an extra informative post bonus for going through the TopCashBack site first. .
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TopCashBack is somewhat better with the average money back around 6 percent of your purchase so if you spend $1,000 online youre going for $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. .