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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 take a good deal of work.
Passive income is money you make from a solution or an investment in which you dont have to do any more work once you set this up. That means consistent cash flow every month if youre working or not.
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Thats the only true way to financial freedom. Passive income is the only way that you will be free from worrying about money and the only way you will ever achieve financial independence.
Im going to share my seven favorite passive income sources, income streams I use to make money each month. Now Im not going to sugar coat this, some of these 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 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 you stick around to grab those last few passive income plans. .
Our very first side hustle idea is with deal sites like Swagbucks and TopCashBack. Now these are actually two different types of passive income ideas because theyre different kinds of sites.
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Swagbucks is a get-paid-to site so you get paid to do things such as take surveys, play video games, watch movies and test out free product samples. Doing each of them, you earn points which are usually 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 your time. Swagbucks consumers have redeemed over $344 million in rewards 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 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 however is view it now you can take action when youre doing something else I flip through surveys and other things while Im cooking dinner or 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 site in which you receive a percentage discount on anything you buy online. What you do is start at the TopCashBack site then click through one of the 4,000 retailers with a money back program.
All these are everything from Nike to Home Depot Passive Income Ideas in Taiwan and you also get from 3% to 25% cash back on anything you purchase. Youre still shopping right on the retailers site so that you receive all the other discounts and deals they offer, you simply get an excess bonus for going via the TopCashBack site . .
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TopCashBack is a little 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 because you need to buy stuff to get the cash back but its free money on the things you were going to buy anyway. .