Most of us probably have the same fantasy at some point in life. The dream is to earn cash without having to do much, or any, work at all. Even after 25 years in the plumbing business my father used to read the classified advertisements every day. When asked what he was looking for the response was always the same, “my thousand dollar a week job where I don’t have to do anything.” We all used to get a chuckle out of it, but the idea always stuck in my head.
Ways To Earn Passive Income
Investment Property – Buying investment property, even in our current housing market is a great idea. There are stories all over the world of people who simply buy up properties and then sell them, trying to make money on the resale. While this can be lucrative you have to have a lot of money at your disposal and put in a great deal of work to make it happen. But, if you actually buy properties up and hold on to them you can earn income without having to do all that extra work. If you were to buy one house that carried a mortgage of $1,000 you could probably rent it out for $1,300 per month. Right there you have already added $300 of income to your monthly budget. Of course, in the first few years you probably want to stash some of that money away for an emergency fund or to make repairs to the property, but after that it is gravy. You can even use it to pay down the mortgage faster so that you send less on interest charges. After a few years you could sell it and all get the full purchase price back as profit.
Using The Internet – There are loads of ways to earn income on the Internet. If you are ambitious you could start your own membership site. On it you provide valuable content for a specific area. Your members pay a fee to see that content, which becomes your profit. This can be a lot of work and you have to have some area in which you are an expert or you will wind up spending a lot of money buying content from others. Another way is to use Google AdWords to set up a Pay Per Click campaign. When web surfers click through the ads that you promote you make money. While it is not a lot of money per click, over time it can add up. This is an excellent way to add profit to a web site that you have already set up or will set up. If you have eBooks you have written or other intimate knowledge of a subject you can set up the site once and then sell the advertising space. Ebooks themselves are an excellent way to earn passive income. If you choose to sell the book online you can make easy cash for as long as you choose to sell it.
Software – Even if you do not consider yourself the most technically savvy person in the world you could create software. All that you really need is one good idea. For example, if you know how to train a dog because you have had dogs all of your life, you could build software that helps teach others how to train dogs. Broad topics are excellent because they can be sold to people all across the globe and tend to be timeless.
You probably have some of your own ideas about how to build passive income. Most of us come up with little ideas all the time that we think could make us the next Steve Jobs. The difference between us and them is that many of us do not follow through on those great ideas. With a full time job, a family, and loads of other responsibilities it is easy to see how those ideas can get left in the dust. Take action to make sure that this does not happen to you.
Make Your Passive Income Dream A Reality
Step One – Do not forget anything. Carry a notepad and paper with you all of the time so that you can write down your inspirations and ideas. The wildly popular and lucrative Harry Potter series started from an idea written on a napkin. You just never know when brilliance will strike so be prepared all the time.
Step Two – Try it. Try everything, even those ideas that you think sounds silly at second glance. If you have an idea for an eBook, sit down and try to write one. If you think you can make some money doing Pay Per Click ads, then give it a go. Even if you do not make loads of money at first you can learn a lot so that eventually the money will start flowing.
Step Three – Build a war chest. If you want to create a passive revenue stream you might need some seed money to do it. So even if you do not have your million dollar idea yet, save money as if you do. That way you will have the cash on hand whenever you are ready to get started.
Step Four – Do it every day. If you do not work on your ideas every day they will gather dust. Instead, take time out every single day to work on your ideas or to track the income streams you already have going. It does not have to be a lot of time every day, but enough to keep you focused on the goal of having long term passive income.
Imagine how great your life would be if your could take a few simple ideas and put them into action that can generate passive income. It is completely possible. While it might not start out as passive income within a short time you could be earning money for nothing.
Timothy Ng is an experienced personal finance writer, specialising in credit card comparison.
Hi everyone. Alan here with a “how-to” guide in which I will do my best to show you how you can make money online with forums. I’ve been thinking about writing this article for a while now, but I never got around to writing it. I think it will be of some use to those of you who are both entrepreneurial and a bit technically inclined.
As you may or may not know I run a few online forums, and although my sites should not be seen as the model of “profitability” I still strongly believe that under the right conditions and with the right management and care an online forum CAN make you a lot of money. Thus I will attempt to now share with you whatever wisdom I’ve got about this subject matter. I think the best way to proceed is to have a “step by step” guide to getting into the online forum “business.” Please pardon me if I somehow insult your technical skills but for the purpose of this guide I will assume that you’re a total newbie when it comes to online forums. Some of the forum software I am going to discuss is commercial but there are free forum software alternatives out there and I will discuss them as well.
Now let’s begin!
Step 1: Find a niche market or “theme” for your online forum
Your first step is to find a topic or theme to which you will dedicate your forum. For example, if you’re into trading stocks or forex (like me) then naturally you are probably going to want to start a forex or stock forum. Please bear in mind to do some research beforehand to make sure that you aren’t getting into a niche that is saturated with already successful and popular forums. Competition is going to be tough, so unless you are absolutely 100% sure you can outdo your competition it is always best to try to find a unique niche.
Step 2: Decide which forum software you want to use
There are quite a few choices out there, both commercial and free software solutions. Here is a list of the commercial and free forum software you can use.
This is quite a popular commercial forum software developed by a company by the name of Jelsoft. Vbulletin is the forum software that I use and in my opinion it is a pretty good piece of forum software. It is fast, well supported, and there are a ton of plugins, themes, and various addons for it. The downside is that it doesn’t come cheap. I believe the latest version (4.0) will cost you $195 for the “forum only” version. If you want the fancy pants “publishing suite” version prepare to shell out a cool $495.
This is Vbulletin’s closes competitor. IPB (Invision Power Board) is a full featured and mature forum software package that is widely used and a good alternative to Vbulletin. I say it’s a good alternative to Vbulletin because first of all it’s cheaper and second it can do everything Vbulletin does. IPB costs $149 for a standard license. If you don’t want to host the forum on your own server the people behind Invision Power Board will host your forum for you. The pricing starts at $9.99 /month and goes all the way to $44.99/month. You can find out more details about what each hosted packages gets you at IPB’s website. If you’re moderately technically inclined I would recommend hosting the forum yourself.
Free Forum Software
There are quite a few freely available forum software packages; actually quite a lot more than I have time to discuss in this article, so I will focus on 3 of the main ones that I think merit consideration.
This is the forum software that I first got started with before I converted over to Vbulletin. At the time SMF met all my needs and the software worked perfectly. After I switched over to Vbulletin I stopped following the latest developments in the SMF community but I hear they’re gearing up for a major release of the software – version 2.0 – which should make it more competitive with the commercial forum software packages. What’s great about SMF is that it’s free software. It is known as “open source” software and is maintained and improved upon by a dedicated group of coders. There is also quite a strong community around SMF. The downside of course is that since it’s a free software package the only support you can get is what is available on the SMF forum and on various online spots. Thus I would say that SMF is more well suited to those of you who are highly technically proficient. If you can troubleshoot and fix your own problems then SMF will serve you well.
phpBB is as far as I know the world’s most popular free forum software package. I have never used it before so I can’t comment on its quality but I’m sure there is a reason it got to be so popular. No doubt it’s not 100% junk. Being very widely used means there will be a lot of community support you can get if you run into trouble. If you’re stuck with a particular problem most likely someone has ran across the same thing as you, so you’re more likely to find a solution.
MyBB is another widely used forum software package. I have absolutely no experience with this one. I haven’t even downloaded and test it it like I did with the other free forum software packages mentioned here. Thus I’m afraid I do not feel qualified to judge it. All I can say is that you should give it a try for yourself. Who knows, maybe you’ll find that it suits your needs perfectly.
Step 3 – Find a good shared web hosting package or dedicated server
Now that you’ve chosen your niche and decided which forum software to use the next step is to find a place to host it. You have two directions you can take. The first – and most economical – is to host your forum on a shared hosting account. The second – and more costly – is to get a dedicated server. Getting a dedicated server is the more “future proof” way to go, but it’s not going to be cheap. I suggest you first start off on a shared hosting account and alter on if your forum is a wild success then you can easily move to a hosting solution with larger capacity – ie VPS or dedicated server. I would recommend that you first off get a shared web hosting package that has CPanel as the control panel option and when you move on to a dedicated server or VPS solution that you also make sure that it too has CPanel support. This way you can make a full account backup on your shared hosting account and easily restore it on your dedicated server/VPS.
So what shared hosting company should I use is the million dollar question. The reality is that there are a TON of web hosting companies out there and deciding which one to go with can often be confusing and daunting to beginners. When you’re searching for a web hosting company please make sure that it meets the following criteria:
1) The server is Linux based. Although Windows hosting has come a long way typically Linux servers have been known to be more stable and because Linux is open source software there are no expensive licensing fees that your hosting provider passes on to you which means a Linux based hosting account will almost ALWAYS be cheaper than a windows based one.
2) Make sure your host supports PHP. This is almost a given as almost every web hosting company is the world has support for the PHP scripting language.
3) Make sure your web hosting company has a MySQL or PostgreSQL database server. The most popular one is MySQL as far as I know and it’s the one that I think you’ll most often find used by hosting companies. Either one is fine.
If you need help narrowing down your search for a web host I’ve compiled a somewhat brief list of the most popular ones that I know of.
1: Hostgator – a very popular web hosting company that I still have an account with for a few of my less active sites. I also use it as a backup hosting account in case for whatever reason I need to move everything temporarily off of my dedicated server. I’ve had no problems with them in the past but if you run a very busy forum they’re not going to meet your needs. They do give you a great price and reliable service though.
2: Bluehost – another very popular web hosting company with a good set of features at a reasonable price. They give you unlimited bandwidth and storage space which is a good thing, but I’m not sure how what their max MySQL connections are, so if your forum gets a LOT of traffic I don’t think they’d be well suited for that.
3: Startlogic – one of the main hosting companies. I have no experience with them so I cannot comment.
4: IX Web Hosting – once again this one is another popular web hosting company that I have no experience with.
5: HostMonster – once again another very popular web hosting company that I unfortunately have no experience with.
6: IPOWER – popular web hosting company with unlimited storage and bandwidth. I have no experience with this company though.
7: Lunarpages – these guys offer not just shared hosting but dedicated servers too.
8: midPhase – this company provides very cheap shared hosting as well as dedicated server. I browsed around their dedicated server deals and they’re pretty good in my opinion.
9: easyCGI – this is a Windows based shared hosting company, but they do give you everything you need to run a forum, so if you for some reason prefer a windows based hosting account this is the one to choose in my opinion.
10: POWWEB – what I really like about this company is that they use clusters of servers to host our website which means the load gets distributed among multiple physical servers. This also means should one server fail for whatever reason your website will NOT go down. Pretty cool! I’d say this is one very strong selling point for them.
11: HostExcellence – I have no experience with this one but from what I know they’re a popular web hosting company.
12: Globat – another popular web hosting company that I unfortunately have no experience with.
That about does it for my mega list of shared hosting companies. If you find that you need a dedicated server either right now or at some point in the future I recommend you checkout these companies.
Dedicated Servers Providers
1: iWeb – A Canadian company that I had a dedicated server for a year and a half. I was extremely pleased with their service – very reliable and fast servers. The reason I switched though was cause I found a better deal somewhere else. I still recommend them though – especially if you’re a Canadian and you wish to deal with a Canadian company for whatever reason.
2: Rackspace – Arguably the if not one of the biggest dedicated managed hosting provider. They can custom tailor a dedicated server solution for you. Rackspace is used by a lot of the “big websites” out there – especially the mega sized forums. If you’ve made it to the “big times” this company is one you may wish to look into.
3: DedicatedNOW – 100% uptime guarantee, fully managed servers, and KVM over IP are just a few of the reasons to consider this company when shopping for a dedicated server.
4: Codero – This is the company that I’m presently with. I got a good deal on a core i7 dedicated server over the Christmas holiday and so far so good I haven’t had any problems that I can directly blame on them. I think they deserve your consideration if you’re shopping for a dedicated server – especially since once in a while they have some crazy 50% off deals.
That does it for the dedicated servers providers. I’m sure there are plenty more others but by the time your forum grows large enough to need a dedicated server I’m sure you would’ve already made up your mind as to which provider you wish to use.
Step 4 – Monetize your forum
Now this is the step where you decide how you wish to monetize your forum. You have quite a few available options. You can either chose to sell your own ad space at certain locations of the forum (example: top of the forum, left sidebar, right sidebar) or you can fill your available ad locations with banners from an advertising network such as Google’s AdSense. Which route you decide to go is up to you. I’d suggest that at first you give AdSense a try. You can also combine selling custom ad locations and have one or two AdSense banners as well. This is the approach that I decided to take as I found that for my forums the money I’ve earned with AdSense wasn’t enough to cover the dedicated server costs. If you keep your site on a shared hosting account even AdSense money should be enough to both pay for the hosting account and leave you with a nice profit at the end of the month.
I’m not going to get into which adverting network(s) to go with as that would mean this article would go on for 20+ pages. Suffice it to say that there are plenty of resources you can use both here on my blog and via a simple Google search. Like I said I would recommend that you try AdSense first and see how that works out for you. Banner placement is very important so make sure you place your AdSense baners at the top of the forum (far righ top) and in the Navbar (below the forum header) and if you can at the bottom of the forum. If you have a sidebar on the left or right side of the forum you can also try placing a “skyscrapper” banner in those locations as well. In my experience though I found that the best performing locations are “above the fold” – navbar and header.
My forum profit tips
Ok, now that you’ve monetized your forum and money is rolling in here is what I recommend that you do to both keep the profits rolling in and ensure your forum grows.
1) Avoid in-text advertising. As tempting as they may seem I think they will only serve to annoy your forum visitors. Every time they move their cursor over a “linked keyword” they’ll get an annoying ad popup box. If your visitor likes to scan with their mouse as they read they will get hit by these ad popup boxes like crazy. Also I found that these in-text advertisement solutions don’t really bring in that much money – ie they’re not effective (they have a low CTR)
2) Keep your forum spam free. Constantly scan your forum for spammers and both delete their posts/threads and BAN them. Also take the time to look into installing anti spammer plugins for yoru forum software. If you use vBulletin I strongly recommend you look into the following anti-spammer plugins: vbStopForumSpam , SPAM Decimator (sorry I don’t have a link for it, Google it)
3) Keep your forum fresh and free of stale and old topics (especially those with zero replies)
4) Moderate your forum and be as active as possible on it.
5) Deal with conflicts and drama effectively and promptly. Don’t let trolls and other forum drama queens ruin the forum experience of other members.
6) Always back up often! You never know when some disaster might strike and having an old backup means you’ll lose recent posts which is something that will annoy forum members for certain!
7) Don’t get overzealous with banners and other advertisements. Don’t turn your forum into a mass of flashy banners and sponsored links galore. Keep it as visually light and unobtrusive as possible.
I think that about does it for my tips. If I think of some more I’ll add them later, or if you happen to have a tip you’d like to share please feel free to leave a comment.
I think I will end this post right here. I’ll conclude by saying that if you have the passion for it running a forum can be both fun and challenging as well as profitable. Now go out there and make it your own. Be creative and start something big.
If you’re looking to join the online “money making” world I strongly recommend becoming a ClickBank affiliate. ClickBank is a payment processor for a ton of products which you as an affiliate can earn huge (how does up to 75% sound?) commissions on. I believe that if you’re serious about making money online you gotta start promoting a few good ClickBank products, and you have to start NOW. So with that in mind I found a video for all you ClickBank newbies that shows you how to open a ClickBank account (btw, it is free of charge.) The video follows below – enjoy!:
Now as for what products to promote and how to do so, well, I’ll leave that for another post. One thing I can definitely guarantee you is that once you earn some money with ClickBank you will get paid – I speak from experience on this one.
“Successful market timing depends upon learning the patterns of crowd behavior. By anticipating the crowd, you can avoid becoming a part of it.”
I pulled this quote directly from the opening paragraphs of the free Elliott Wave Online Tutorial. It’s critical to your understanding of how markets really work.
Now some might say, “What’s wrong with following the crowd? I’m just following the easy money, right?” The problem with this logic is that most investors follow the crowd (or herd) all the way up the mountain … then right off the cliff.
Look at today’s situation: How many people you know got out of the stock market before the October 2007 top? Heck, how many you know cut losses and cashed out even six months after the top?
If you’re like most people, your answer ranges from “zero” to “very few.”
Being a successful investor over the long term means you must always strive to be part of that “very few.”
Famed market analyst Robert Prechter, the leading practitioner of the Elliott wave method of market analysis, once said, “Missing a market move may be a shame, but getting caught on the wrong side of one means you lose money. People who have gone through the experience know there’s a big difference.”
To be a successful individual investor, you must understand what it means to take risks when the probabilities are behind you and shun risk when they’re not.
Robert Prechter’s method of analysis, the Elliott Wave Principle, is designed to help him and his subscribers do just that. In fact, just this week, a MarketWatch.com columnist wrote this about Prechter’s performance:
“Over the past 12 months the Elliott Wave Financial Forecaster is up 22.8% by Hulbert Financial Digest count, vs. negative 43.32% for the dividend-reinvested Dow Jones Wilshire 5000.
“And so terrible has the damage to the stock market been that the HFD now shows EWFF ahead over the past 10 years, with a annualized gain of 1.7% vs. negative 2.55% annualized for the total return DJ-W.”
Buy and hold is dead. Trading isn’t any easier. Having a big-picture outlook doesn’t mean you must “set it and forget it,” as the late-night infomercial guy says. And it certainly doesn’t mean you must be in and out of the markets every day. It simply means you can see the forest for the trees.
You can go long when the markets are behind you, short if you have the guts, and stay out completely when the risk is too high. Simply put, adopting an independent, unbiased method is the very best way to ensure you don’t get caught up in the investment herd.
Elliott wave analysis is not for everyone. It’s highly technical. And it presents probabilities, not certainties (there’s no such thing as a black box trading system). The most successful investors and analysts – the guys who are still around after 30 years like Prechter – are able to assign probabilities and assess risk; and they act only when probabilities are high and risk is not.
I encourage you to learn more about the method that has kept Robert Prechter out of the herd and in the game for more than three decades. His company, Elliott Wave International, has an extremely useful Elliott Wave Tutorial for free online. It’s broken up into 10 lessons across 50 pages, so it’s easy to read and review at your leisure.
Check it out at the link below, give yourself some time to digest it, and decide for yourself if Elliott is a method you should add to your investment arsenal.
About the Publisher, Elliott Wave InternationalFounded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world’s largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.
After I posted my review of Payoneer’s Virtual US Bank Account offering many of you asked me how you can obtain a Payoneer prepaid debit card. As I’ve mentioned in that review, you cannot obtain a debit card directly from Payoneer, instead you have to get it from one of Payoneer’s payment solutions partners.
Payoneer has partnered with many online businesses to offer them the possibility to make mass payouts easier, faster and more convenient for them and those who will receive them. If you are not already making money from one of Payoneer’s many partners, you will have to start by signing up with one of them.
Here is a list of all Payoneer partners that I could easily identify. No doubt there are probably more partners available, so this list is by no means complete. I will add more Payoneer partners to the list as I come across them. If you’re one of Payoneer’s payment solutions partner and you would like your site posted on the list give me a shout at alan at alansmoneyblog.com
Which ones should you choose? Well that obviously depends on how you prefer to make money online. For example if you’re an online merchant the 2CheckOut would be the logical choice. If you run a blog or website and would like to sell advertising space then Text Link Ads would in that case be the logical choice.
Google some of these websites out and find out if they’re right for you.
Now once you’ve decided which Payoneer partner to go with, proceed to the next step which is figuring out how to order a Payoneer card from one of these partner websites. As always it varies from partner to partner so don’t be shy and ask the website’s customer support crew for assistance.
As an example, getting a Payoneer card through Text Link Ads is one of the easiest methods that comes to my mind at the moment. All that you have to do is click on “Edit Account” in your members section and then look for “*Would you prefer to be paid via check, payoneer or paypal?”. Select “Payoneer” from that list and then click the “Update Account” button.
You should then be redirected to a pre-application page where you will be given information on the advantages of using the Payoneer option. The next step is to click the button “Apply” at the end of the page so that you are redirected to the application form on the Payoneer website.
The next step is to fill in the form with your info and send the form.
Shortly after the application process is complete, an email will be sent to the address you provided informing you that your order has been received. Once the application is approved, you will receive a confirmation email and the card will be mailed within 2 business days.
Once you have card in your hands simply follow the activation instructions in the welcome letter and you’re all set!
Update (Dec 26,08): Thanks goes out to Gregory B for pointing out that you don’t have to have a different payoneer card for each payoneer parter.
You can receive payments from several partners into one Payoneer card. To achieve this you would have to go through the complete registration for one partner, to obtain the physical card.
Once you receive your card from this partner, you will have to go through a very short registration process for each additional partner, as follows: on the Payment Method page, instead of pressing the button to sign up for a card, press the link (usually placed above the button) that says “I already have a card”
And with that we’ve reached the end of this post. Thanks for your attention and for visiting my blog.
**EDIT: I no longer recommend this website. I am 90% sure it’s just a scam. The only person making money from this is the CBTopSites admin who inserts his clickbank id 9 time out of 10 into YOUR cbtopsites mall – EVEN IF YOU PAID FOR THE UPGRADE!!***
Hello dear fellow online marketers. If you visit my blog on a regular basis you may remember seeing my posts about the free clickbank mall offer provided by CBTopSites. If you already got your free clickbank mall, then great! If you did not or this is your first time hearing about this opportunity I recommend you visit the site below:
*Click on the “Affiliates” link at the top and register*
Now, since you’ve got your free clickbank ready to receive traffic let’s get to the heart of this article, which is about methods you can use to get free traffic. I hope you find it useful and profitable:
Free Methods to send visitors to your CBTopSites Mall:
(1) If you have web sites or blogs, place any of
your mall links, search box, clickbank ads, banners and
cb mall code on them.
Paste them in prominent places on your sites/blogs so that visitors can find them easily and enter CBTopSites Mall. If you get more visitors to your sites, you can make more sales. You can also try the tips below.
(3) Use your links as your email signature.
You can write your signature in your email settings. Whenever you send emails, your links will be attached at the bottom and the recipient can visit your Mall.
(4) Use your links as signature in forums.
When you make new posts or reply to posts, others can click links in your signature, visit your Mall and purchase anything they want.
The codes are given in the your mall links page. You can use links specific to each forum.
(5) Tell your friends
(6) Place your link in online profiles. ( example : While registering in orkut, forums, social networking sites or other web sites, there may be a field for website. Fill your link in that field.)
Do not use the AddThis bookmark button on the CBTopSites pages. Instead, go to various social bookmarking sites and save your links there.
(8 ) Start a Blog or a web site and post reviews about products in your Mall and place relevant ‘Mall links’.
example: You can write a review of some ‘dog training’ guide in your Mall and place your mall link: http://cbtopsites.com/search/yourCBnickname/dogs
along with that review and paste it on your blog/website.
(9 ) Start a Blog or website. Write articles related to different products in your Mall and place related Mall links in it.
(7 ) Research in google or any other search engine if you wish to know more about promoting your links online.
Before you proceed with any of these methods, please follow their rules and regulations.
DON’Ts – Whatever you do DO NOT do the following:
1) Please Do not Spam
2) Read the rules / terms of service before advertising or posting your links anywhere
3) Do not promote using auto surf traffic exchanges (they do NOT work!)
4) Do not buy 1000000 hits/ visitors for $10 etc…
5) Do not buy 1000000 emails for $10 etc…
6) Do not join any safelists (these don’t work either!)
7) Do not post your links in Free For All Links (FFAs)
8 ) Do not post your link in unrelated Newsgroups or usenet groups
"Lack of money is the root of all evil" (George Bernard Shaw)