Swagbucks is currently offering double cash back or more at a number of stores for Independence Day. From JC Penney to Lowes, you’ll get cash back (in the form of SB points) for buying your gifts online through Swagbucks. They also have offers where you can earn SB points towards free gift cards for things like trying Hulu.
You can find all of the details here. If you haven’t signed up for Swagbucks yet, you can also do that at this page and start earning points towards your first free gift card. As a bonus, if you sign up through me a spend at least $25 shopping online through Swagbucks before the first of the month and you’ll get a 200 SB bonus – that’s $2 in addition to the points you get for each dollar you spend.
These deals will run all the way through Fourth of July! If you’re looking to make a purchase in the near future, you might as well get some cash back.
Children’s Fund International has a special offer until the end of June through Swagbucks where you can earn up to 17,500 SB (that’s $175 in gift cards) for making recurring monthly donations and helping support an in-need child, improving their quality of life.
You’ll earn SB for each month you keep your sponsorship active – the longer you make valid donations, the more help your sponsor child receives & the more SB you can earn!
Earn 5,000 SB after your first month’s donation. That’s enough for a $50 gift card!
Earn 1,500 SB after your second month’s donation.
Earn 1,500 SB after your third month’s donation.
Earn 1,500 SB after your fourth month’s donation.
Earn 1,500 SB after your fifth month’s donation.
Earn 1,500 SB after your sixth month’s donation.
Earn 5,000 after your seventh month’s donation.
Haven’t tried Swagbucks yet? They’re a site where you earn points (called SB) for doing things like online shopping, watching videos, taking surveys, and discovering deals and services you might like to try (like Hulu!). You then take those points and turn them into free gift cards to places like Amazon, Starbucks, Walmart, Target, or PayPal cash! I’ve used Swagbucks to earn more than $1,700, and you could start earning today!
Back when I started working on Earn Money In Pajamas, one of the things that I was really interested in was making money online. Millions of Americans live paycheck to paycheck. This makes extra money a must. Side hustles are a great way to make some additional spending (or saving) cash. I’ve reviewed several websites that allow users to earn money without leaving home. Here is one of the newer sites that I’ve found. Read on for my EarnHoney review. Please note that some of the links on this page are affiliate links, so I may be compensated should you sign up using them.
EarnHoney is, in some ways, much like many of the other sites that allow you to earn money online. In other ways, it’s different.
Signing Up For EarnHoney
What EarnHoney review would not discuss the ease (or lack thereof) of signing up for the site. Getting an account on EarnHoney is quite easy. Basically, you need an email address and a password. A username/account number are auto-generated by EarnHoney. There was no request up front for an address or birthday, so theoretically, a 10-year-old could sign up. Once you put in this information, you’ll be able to get started earning money in pajamas. There is a “survey” that you have to fill out before getting access to other surveys. I’ve yet to do it, and I’ve already cashed out.
Please note that only residents of the US can actually earn money on EarnHoney right now. People from other nations can sign up, but they will not have any offers available to them. Since I’m a resident of the US, I’m good to go here.
How Can You Earn Money On EarnHoney?
There are several options when it comes to earning money with EarnHoney. You’re not actually earning cold, hard cash, but rather a digital currency known as HoneyDollar$. You can use these to get cash, but I’ll go into that in a bit.
This is the earnings page, and it’s an important part of this EarnHoney review. If you’ll notice, it shows how many HoneyDollar$, also known as HD$, I started today with. It then goes into how many additional HoneyDollar$ I’ve earned today with a breakdown of how I earned those HoneyDollar$.
Now for how exactly you can earn some ducats on EarnHoney. If you’ll look at the left edge of the picture above, you’ll see “Earn” with five options below it. The offers are much like some of those available on other similar sites like Swagbucks (my personal favorite). Think in terms of Peanut Labs if you’re familiar with Swagbucks. To be quite honest, I have not yet gotten to the “Give Opinion” part of the equation, as I’ve not yet given the information necessary to access more surveys.
Review of Ways to Earn Money Watching Videos On EarnHoney
What I have used to earn money on EarnHoney is the Buzz TV, Watch, and Play Games options. There is only one game. It’s an addictive 2048 game that requires you to move tiles around a grid to try and multiply the numbers up to 2048. I’ve not been successful at getting to 2048, but I have earned money from it. The money comes from ads that show while your playing the game.
The Buzz TV and Watch links basically allow you to watch videos with ads at the beginning of them. Advertisers pay EarnHoney for showing ads to the site’s users. EarnHoney then returns some of this income to those who watch.
I’ve been letting the auto videos play to make most of my HoneyDollar$ thus far. You click the link, and then get sent to a page with a video that gives instructions of where to go. If you want to skip the instructional video, you can just clink on the “Go There Now” link. This will take you to either a Facebook page with a link to “Watch Videos, which is pretty explanatory, or a Google search results page. You can literally click on any of the links on the Google page and the videos will start playing.
The coolest things about these videos is the fact that they have an autoplay feature that will keep on keeping on as long as the box is ticked. It’s been ticked automatically each time that I’ve gone in, so I don’t think you’ll have to do anything to get the videos to continue playing.
This is cool because you literally have to do nothing after clicking on a link to watch the videos. They will theoretically play and continue to pay until you hit the daily limit. Then you could start on another of the Buzz TV options. This is about as close as you can come to passive income on the web, and as I’ve noted before, passive income is the best income. This is my favorite part of this EarnHoney review.
How Much Can You Realistically Earn With EarnHoney?
This EarnHoney review would be nowhere near complete without explaining how much you can actually earn on the site. The site claims that you can make between $2 and $6 a day. The earning goes slow, I’ll be the first to admit. You’ll usually get between 0.2 and 0.5 HoneyDollar$ per video or game. One HD$ basically equals a cent. Immediately after signing up for EarnHoney, you’ll get an option to watch an instructional video that pays 30 HD$. It’s all of a minute in length.
However, keep in mind that you’ll earn from the Buzz TV videos without doing anything. I’ve actually earned about $0.10 an hour while taking a nap and taking the kids to the pool. I’ve earned the same watching Mountain Menon The History Channel while letting EarnHoney do its thing.
Admittedly, this is pretty low, but it’s pretty much completely passive. I don’t do anything other than click a link. You could use this money to save up for Christmas presents. It’s also possible that you could use it to pay down debt more quickly. Finally, you could add your EarnHoney earnings to your investment account to allow the passive income to make even more passive income. Remember the power of a dollar and how just an hour a day can add up to some serious money over time.
If you’re worried about the cost of the electricity for your computer, it costs about $8 a year to charge a laptop. A tablet would take even less. You’ll come out ahead of the game using EarnHoney for passive income.
What Can You Get With Your HoneyDollar$?
This section of my EarnHoney review will look at what you can actually get with your HD$. There are basically four options. When you get up to 200 HoneyDollar$, you can get a $2 Amazon e-gift card. This is available only on the first redemption. Afterward, Amazon gift cards come in $5, $10, and $25 denominations. You’ll get a 1% discount by redeeming with Amazon.
Secondly, you can use your HD$ to get a Visa Debit card. These come in the same denominations as the Amazon gift cards, plus $50 and $100 options. You’ll also get a 3% discount when you redeem for the Visa Debit cards.
Third, you can donate your HD$ to charity. I’m not likely to do this, but it is an option. You can only donate 500 HD$ at a time, and you have the option of giving to well-known charities like the United Way, World Wildlife Fund, and the Salvation Army.
Finally, you can use EarnHoney to get PayPal cash. I utilized the Amazon $2 option for my first redemption to see if it would actually work. It did. EarnHoney pays out twice a week, Monday and Friday. I redeemed on Monday, and got my e-gift card on Thursday evening. It was Friday somewhere, I’m sure! I plan to use the PayPal option from here on out, as I can easily put the money in an emergency fund or an investment account from there after transferring the cash to my bank account. $5 and $25 options are possible with PayPal.
EarnHoney Review Conclusion
So, in the final analysis, what EarnHoney review would be complete without a recommendation or lack thereof? You can definitely redeem your HD$ and get what you’ve ordered. I got my $2 Amazon e-gift card when the site said I would. Therefore, it does not appear that EarnHoney is a scam.
The earning is slow going, as most of the online survey and GPT options are. However, this site is unique among those that I’ve used because it allows you to earn pretty much passively. I can let videos play with ads while I’m cooking lunch or sleeping. This truly is one of the best options for earning money in pajamas. You can sign up for EarnHoney here if you’d like to start earning passively.
I absolutely love to travel. I don’t have enough money to travel as much as I’d like. This means that I have to come up with creative ways to satisfy my wanderlust. One of the strategies that I use is credit card signup bonuses. I recently listed five cards that I planned to get in the next year. I successfully got the Chase Sapphire Reserve card on my second try. The United MileagePlus Explorer card was not one of the cards on this list. However, I got a mailer with an invitation to earn 70,000 bonus miles in one signup bonus.
Since I was pretty sure that I was under the infamous Chase 5/24 rule and I had not applied for any cards since the Sapphire Reserve success, I decided to apply. The screen after the application gave me a pending status. I figured all was lost. It was not, however. I called the reconsideration line and learned that Chase had approved me. The 70,000 is not a public offer, but if you get the mailer, it’s probably worth going after. Additionally, if you’re already a United MilagePlus member, you might be able to get a link by filling out a dummy flight reservation.
Current Chase United MileagePlus Explorer Card Bonus
The current public signup bonus on the United MileagePlus Explorer Card is 50,000 (it’s usually 30,000), and this bonus is good until 7/31/2017. After spending $3,000 over the first three months after approval, you’ll earn the 50,000 bonus miles, plus at least 3,000 miles for meeting the spending requirement. You’ll earn at least one mile per dollar spent. There’s a $95 annual fee that’s not waived, but the miles you’ll earn will more than offset the fee.
Your first checked bag is free on domestic flights with the card. That’s a plus, but I may not even benefit from this. Also, there are no foreign transaction fees. I can earn the bonus partially from spend on my upcoming European vacation to the Czech Republic. I’ll incur no foreign exchange fees on the trip, which is great. Another great benefit is the two United Club passes that the offer provides. I’ve never spent any time in an airport lounge before, but I’m planning to utilize a couple on my upcoming trip to Prague. My United Club passes came in the mail today.
Where Can You Go With the United MileagePlus Explorer Card Bonus?
Obviously, you can go further on the 70,000 miles that I’ll get after meeting the minimum spend than you would on the 50,000- mile public offer. 53,000 miles is nothing to sneeze at, however, and this bonus could get you to some cool places.
The United MileagePlus award chart shows that 50,000 is a great bonus as long as you stick with Saver level awards. This bonus could get you two round-trip tickets within the US (excluding Alaska and Hawaii) and Canada in economy class or one round trip in business class. You could get a round-trip economy ticket to Hawaii (45,000 miles), or a one-way business class seat to the island paradise.
As long as you stay in the Saver-level award category, you can also get one round-trip ticket to Mexico, Central America, or the Caribbean (35,000 miles). A business class seat to the same destinations will set you back 30,000 miles, so you can only get a one-way ticket in business class with the award. Northern South America will set you back 40,000 for a round-trip ticket in economy or 35,000 for a one-way redemption in business class.
Additional Redemption Options With The United MileagePlus Explorer Card
With the current 50,000-mile bonus from the United MileagePlus Explorer Card, you can also snag a one-way economy ticket to these destinations:
Europe (30,000 miles)
Middle East (42,500 miles)
Africa (40,000 miles)
Southern South America (30,000 miles–spend $2,000 more and you could get a one-way business class ticket for 55,000 miles!)
It’s easy to see that this one signup bonus can get you to just about anywhere in the world that United Airlines or its partners fly. You might have to come up with an alternate way to get back if you don’t have enough Mileage Plus miles, but you could pay for the cheaper leg of such a trip or use another credit card’s program’s points or another airline’s miles. The options are basically only limited by your imagination and creativity. You can sign up for the Chase United MileagePlus Explorer card with this link. Keep in mind that you have to have solid credit to earn approval. Also, you’ll have to get past the Chase 5/24 rule. Do NOT apply if you can’t pay off the bill in full every month.
Where would you like to go with 50,000 United miles? Let me know in the comments.
If you’d like to follow my travel planning, be sure to sign up to follow the blog or follow me on Twitter.
Disclaimer: This post includes affiliate links. I may receive compensation should you use my links. I appreciate any support.
One of the topics that frequently comes up on this site is the topic of travel rewards. I’ve written about my introduction to the hobby known as travel hacking. This hobby has allowed me to visit some pretty cool places. I even have a trip booked for later this summer, which will extend my successes in this field.
I realize that some people are afraid to leave the country. Others just don’t have much interest in leaving their hometown. That’s understandable. So while you might not be able to or even want to save thousands on a trip, you are not out of luck when it comes to credit card rewards.
There are many credit cards that offer cash back. However, if you’re looking to make a quick buck, few will beat the Chase Freedom.
The Chase Freedom (you can use the link to sign up) is a pretty good card if you have solid credit from a previous car loan or a mortgage. First, there’s no annual fee associated with it.. In other words, you don’t have to worry about getting charged for holding this card–ever!
The second solid opportunity that the Chase Freedom offers for you is the opportunity to get a signup bonus of at least $155 without spending anything that you wouldn’t be spending anyway. There is a signup bonus that’s touted at $150. However, you need to spend at least $500 within 90 days of the card getting opening.
With a cashback feature of at least $0.01 per dollar spent, you’d get at least $5 additional just from meeting the minimum spend. This brings the bonus up to at least $155.
You can also get another $25 bonus from adding an authorized user and making a purchase within the first three months. This gets you to at least $180 if you hit all of these hoops. Keep in mind that you can have your spouse or significant other as an authorized user.
The third major benefit that the Chase Freedom offers cardholders is a bonus of 5 percent cash back on rotating categories each quarter. The third quarter of 2017 is about to hit, and restaurants are one of the categories that gets $0.05 per dollar that you spend back, up to a maximum of $1,500 a quarter. I would not recommend spending this much on eating out unless you travel and get a per diem reimbursement. If you spend $100 a month eating out, you’d get an additional $15 over the quarter.
Some quarters will have the bonus on purchases from grocery stores or gas. These can add up over the course of a year.
How To Meet The Minimum Spend On Chase Freedom
You only have to spend $500 in three months. You can probably hit this if you just charge what you’d normally charge for gas and groceries. Don’t buy anything that you wouldn’t normally buy. Do not go over your budget. Do not get tempted to buy stuff that you don’t need. Buy only what you’d normally buy.
If you spend $170 a month on gas, eating out, and groceries, you can get at least $155 for doing nothing more than spending a couple of minutes on the application. All you have to do is swipe this card instead of a debit card. If you normally write a check or use cash, this can even save you time at the checkout counter.
What To Use The Chase Freedom Bonus On
You can use the bonus cash back on basically anything. You could pay your bill off with it. Another option would be saving the money toward an emergency fund if you don’t have one. Also, there’s the opportunity to use the bonus to start investing in a stock or ETF. The options that you have are pretty endless. And the coolest thing about this bonus is the fact that you have to do very little out of the ordinary to get it.
Warning About Credit Cards
If you’re in a load of debt, the Chase Freedom will not help you pay off the debt, although you could save on some interest with the 0 percent introductory rate. If you’re not responsible with any credit card and run up charges that you can’t pay off, you’ll lose the entire benefit of the bonus. This is something you’ll definitely want to avoid. If you don’t plan to pay off the entire bill each and every month, and if you’re given to big spending, I do not recommend getting any credit card.
If you are responsible, however, the Chase Freedom is a good option to get started with the benefits of a cashback card that has no annual fee and a signup bonus that you can use to benefit your finances. You can sign up for the Chase Freedom here. The signup bonus is definitely a great way to earn money in pajamas.
Disclaimer: This post has referral links. I may be compensated should you sign up. As always, I appreciate any support.
I’ve been pretty busy over the past ten days. A trip out of town for some work slowed down my monthly post that tabulates my online earnings for the previous month. I was also out of town for a week in May, but I was able to make some nice money over the course of the month.
Some of this money went toward savings. Some of it went into a rollover IRA. Still more of it went toward paying down my mortgage just a little more quickly than the amortization schedule. Regardless of where the money went, my online earnings helped me toward a stronger financial standing for the long run.
As I noted before, I started looking for ways to make money online when my wife gave up full-time work. I’ve found several options that have worked over the years, and I’m always looking for more opportunities that can help me get a little bit further ahead than I was a month before.
The best thing about earning money online is the fact that there is a pretty low barrier to entry. Whether you’re looking to take a couple of surveys a day or write up a couple of articles for a bit of extra income, there are options that can work for just about anyone with a pulse. All you have to do is look and take some initiative. I’ve done some surveys and online writing. And then some.
Online Earnings for May
Back in April, my online earnings did not come in as high as they have in some months. They were still a solid $273.02, and they helped me improve my overall finances. May was not much different, but I earned even more. Here are some of the ways that I was able to earn money in pajamas during May 2017:
I’ve listed most of these ways of earning money online before, but Ibotta is one that I had not used until last month. I signed up because of a link on another website that promised $10 in my account if I signed up and redeemed one of the digital rebates before a certain date. I did, and the $10 posted pretty much immediately along with the other discounts.
Sign Up For Ibotta And Get An Easy $10
The best way that I can describe Ibotta would be a sort of digital coupon/rebate site. You download an app, and the app takes a picture of your receipt (and sometimes the UPC code) from various retailers like Wal-Mart or Kroger that just about anyone can access.
With the $10 bonus, I was able to actually hit the cash out mark in May pretty easily, even though I signed up toward the end of the month, hence the $20.25 listed above. The cash out hit PayPal pretty much instantly. I then put it directly toward paying down my mortgage.
You can get the same $10 bonus if you sign up with Ibotta with my link, download the app, and make a purchase and upload it via the app. This would get you more than halfway to the $20 that’s necessary to cash out with PayPal. It’s pretty simple, and there are some rebates for buying literally anything (although you can’t use the any brand rebates to get the $10 bonus–it has to be a purchase of a specific brand).
I recommend using methods that earn you money for doing what you’d already do anyway. For example, you can use Swagbucks to earn money for searching the web or letting videos play. It’s likely that you have to shop somewhere for food and various and sundry other items. You might as well get rebates from a site like Ibotta.
The rebates from Ibotta can stack with coupons and a cashback credit card like the Chase Freedom. You can even get a $150 bonus for using the Chase Freedom to make $500 in purchases in the first three months after opening the account. Just don’t forget to pay the balance in full each month. You can sign up for the Chase Freedom with this link, if you have good credit, that is.
If you’d like to follow my progress each month, be sure to go to the top of the page and sign up for updates. You can also follow me on Twitter. Also, if you could share this latest update below via Twitter, Facebook, or any other social media platform, it would be much appreciated. I want to inspire others to improve their finances.
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Another month is in the books. May has come and gone. We are now past Memorial Day, which was traditionally the beginning of summer vacation, although many are still in school. The end of the month is a great time for reflecting on how the previous month unfolded. It’s also a good time to look into passive dividend income.
I started investing for dividend income nearly two years ago. I had been reading popular personal finance blogs like Mr. Money Mustache and popular PF books like Dave Ramsey’s The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness, which I highly recommend if you’ve not yet read it. (You can click the link above or the image below if you want to buy it and support me just a bit). Just about all of these financial gurus recommend spending less (sometimes much less) than you make and then investing the rest.
Then I came upon the old Dividend Mantra site after reading an interview on Mr. Money Mustache. This guy, Jason Fieber, was in the process of documenting the growth of his dividend growth portfolio with a goal to come up with enough passive income to live off of indefinitely, thus making paid work optional. I thought this was a great idea and bought my first dividend-paying stock in July 2015.
Now, I’m nearly two years into this journey. My first dividend was a whopping $0.64 from Apple. I’ve since sold that stock for a profit to pay off some debt, and I’ve now started emphasizing investment through an IRA rollover. My income has grown from that point, exponentially, in fact. However, I’m nowhere near what I’ll need to pay for my expenses. This is a long game.
Why Passive Dividend Income?
You might wonder why I focused on dividend income rather than total return or guessing which stock might take off like Apple or Google. I like the idea that a dividend is a return of some of the capital that I’ve invested. Companies cannot pay them out for the long run without actually having the cash flow and profits to sustain them.
Companies that have long dividend streaks have increased revenue and earnings per share over time. Some of them have done so through multiple recessions. These are the companies that I tend to like the most. I have some relatively high yielders and some that have low yields. But I like the cash coming in each month.
Last month, I was in Europe on a (sort of) work trip. I got two separate emails during the trip that indicated dividends had posted to my account. I can literally be anywhere in the world, and I’ll have income flowing in because the companies that I own make money on a daily basis. Passive dividend income flows toward me no matter what I might be doing at a given moment. My money is working for me, and the more money that I put to work, the harder it will work.
Passive Dividend Income For May 2017
During the month of May, I earned (actually received, as it’s unearned income) dividends from three of the companies that I hold in my traditional IRA,. I also received a dividend from one fund in a 401k plan. Here is the income that passively came my way in May 2017:
AT & T (T): $7.35
Omega Healthcare Investors (OHI) $31.50
Realty Income Corp. (O) $2.11
Total for IRA Account: $40.96
JP Morgan Equity Income R5 (OIERX) $3.14
Total Passive Dividend Income for May: $44.10
I must say that I’m pretty happy with this amount, but it should grow in August, as I’ve added to both AT & T and Realty Income since the last ex-dividend date. This means that the monthly payout should be even larger.
My dividend income in terms of the number of hours of freedom that it will buy me is something I really like to track. I could have bought just more than 2 hours and 12 minutes of freedom in May, based upon my belief that $20/hour would take care of my current standard of living pretty well.
I’ve now earned $149.41 for 2017 to this point. That’s just a hair below $30 a month. My forward dividend income for the next 12 months should come in right around $438.45. This is just short of 22 hours of freedom. I like my job and would probably continue to work should I actually get enough passive income to pay for my lifestyle. However, the ability to scale back would be pretty amazing.
I’ve basically gone from $0 in monthly dividend income to $36.53 on average (based on the $438.45 noted above). This took less than two years. With the reinvestment of dividends and new capital added, this snowball should continue rolling and picking up steam into the future.
If you’d like to keep up with my progress, be sure to sign up for updates in the email signup box near the top of the page. You can also follow me on Twitter.
Disclaimer: I am not a professional financial advisor. I intend this information for informational and educational purposes only. Perform due diligence before investing in any equities. See my disclosures page for more information. I’m long T, O, OHI, and OIERX.
Making money online is one of the main topics of this blog. Extra online income became extremely important to me when my wife quit work to take care of kids. I needed to find more income, and I needed to do it fast.
I had already worked in the fast food and retail sectors, and I knew that they did not pay all that well. My memories also told me that they took up a great deal of time away from home. This was all well and good for a single guy who lived at home. It was not, however, a great idea for a married man with kids.
This need for money drove me to look for ways to supplement my income via the Internet. Over time, I learned about some really good ways to make extra online income. I’ve also found that there are some important goals that make earning money online more sustainable.
Having A Plan For Extra Online Income Is Key
Looking at making some extra income “just because” is a reason to start earning. However, it’s probably not going to make most people sustain their efforts.
At first, I absolutely needed the income to make ends meet. This need to keep my bills paid was a pretty good motivating factor. I still need some income to supplement my income, but this need is not as urgent as it once was. This is where a plan comes into play.
I’ve recently been tracking my monthly extra online income. I have a few different streams that I tend to make money from each month. Whether it’s freelance writing or earning from Swagbucks, I try to make a few hundred extra dollars each month.
Another goal, in addition to investing my online income, is paying down debt. Some people might look at this strategy as a form of investing. After all, I’m getting an automatic return that’s equal to my interest rate.
I still have about 26 years left on a mortgage. This is a long time, I know. I also know that I’ll pay quite a bit of interest on that loan over the long haul. While my current interest rate is not all that high, I don’t like the idea of having this debt until I’m nearly 70.
Therefore, I’m using some of my extra online income to pay down my mortgage. In the early days of my loan, most of my payment goes toward paying the bank interest. I remember a previous mortgage that I had at 6.125 percent interest rate (this was a few years ago, but a good rate at the time). About $70 of my initial payment went to paying down the loan. The rest, nearly $400, went to the bank.
I could have paid an extra $70 to $80 a month that first year and cut a month off the end of the loan for each extra payment. It’s not that hard to earn $70 or even $170 a month via online efforts.
While it might seem that answering surveys does not pay well, it might actually pay more than an actual job that you have to drive to. I’ve written about a scenario in which a woman making about $19,000 a year actually earned about $0.64 an hour after deducting expenses that came from working outside the home. In this instance, yes, answering surveys might improve your finances more.
Small Steps Make Big Differences
There are expenses that come from driving to work and dressing the part. If you already have a computer and Internet access, your cost is basically electricity. This could be a whopping $8 a YEAR! to charge. That’s a little more than $0.02 a day.
Just this last month, I paid an extra $14 toward my mortgage from small payments that I earned from GiftHulk and Clixsense. This might not sound like much, and it’s not. However, if I continue to add just $14 to my mortgage payment each month, I’d pay it off nearly 1.5 years earlier than the scheduled payoff date. I’d also save more than $3,000 in interest payments over the life of the loan. I’m sure I could find a better use for $3,000 than handing it over to the bank!
Small steps can make a big difference over time. This is why it’s important to have a plan for what you can do with your extra online earnings. Seeing progress toward these goals can help keep you motivated toward achieving them.
Perseverance Is Key With Extra Online Income
My goal is to see these earnings and passive income streams grow over time. If I’m able to do so, my mortgage payoff might come quite a bit quicker than what I’ve listed here. I might also be able to quit driving to work every day a few years earlier than most people–by choice, not by necessity.
You, too, can earn some extra money online, whether it comes from searching the web on Swagbucks or GiftHulk or answering some surveys on a site like CashCrate. There are also many freelance opportunities that can help you earn additional income. What will you use the extra online income you earn in your pajamas for? Having a plan can help you improve your finances, and the quicker that you can improve your finances, the better off you’ll be.
Disclaimer: This post includes affiliate links. I may be compensated should you sign up using my link. You will get the same benefits regardless of how you sign up, but I appreciate any support.
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The following post is a guest contribution from Andrew Altman.
Is it your first time to invest? Contrary to what most people think, you do not necessarily need to have a huge amount of money in order to get started with your first investment. Even successful investors who are now raking millions of dollars in their investments started small with low capital too.
But since it is your first time investing, it’s important that you know where to put your money.
Going for low risk investments is a good place to start as a first time investor. You cannot just invest without having ample knowledge on the kind of assets you want to make and without calculating the risks.
For first-time investors with low capital, here are five investment tips that you can follow.
Look at the Fees and Minimums To Preserve Low Capital
Just about every type of investment option comes with fees and minimum balances. And if you are working on a tight budget, you have to take these fees into consideration to get the most of the amount you want to invest.
Search for funds or brokerages that do not require you to have a high initial balance. Ideally, you should find one that has a $0 minimum initial balance requirement such as Robinhood. When you have finally researched the different options, you should watch out for the ongoing fees that can siphon off some of your already low capital.
Get Certificates of Deposit
One of the best low-risk investments is a certificate of deposit. With this type of certificate, you can actually deposit your money for a certain period of time to a particular financial institution. In exchange, your money will earn interest during the specific time frame.
What is nice with this kind of investment option is that no matter what happens to the interest rates, the rate is fixed. There is a locked in period, and if you wish to withdraw the money, you will incur penalties.
How about the interest that you can earn? It actually depends on the interest rates in the county when you initially make the deposit.
Invest in Money Market Funds
Another great investment option for those with low capital is to invest your money in money market funds. This is basically a mutual fund created with a purpose of not losing the value of any investment.
The goal of money market funds is to have a net asset value amounting to $1 per share. If you are willing to take a risk, this investment option is still relatively secure.
Invest in Treasury Inflation Protected Securities
Even if you have low capital, and it’s your first time to invest, you can invest in TIPS or treasury inflation protected securities. They are considered to be low risk investments, and depending on your choice, you can choose among the different kinds of bond investment. The one that offers the lowest risk is the Treasury Inflation Protection.
There are two different methods of growth for this type of investment. The first one comes with a fixed interest rate which means that it doesn’t change for a certain period of time.
The other one comes with a built-in inflation protection which is guaranteed by the government. In deciding to invest with TIPS, you have to option to buy them individually or invest in mutual funds that own TIPS.
Have an IRA
Having an individual IRA or Individual Retirement Account is a must-have investment for everyone. As early as possible, it is important that you prepare for your retirement. There are two types of IRA options. The first is the Traditional IRA, which is a tax-deferred vehicle.
Unlike the traditional IRAS, the money that goes into a Roth IRA has been taxed on the front end. This only means that you have to shoulder low tax costs, and when you finally retire and withdraw the funds, you never have to worry about the tax.
In preparing for the future and establishing your financial wealth, you have to start with a decision to invest your money. It really doesn’t require you to have huge amounts of capital to start off. As you study more about the different investment options and as you take the time, you can definitely achieve your financial goals.
Most of the time, it can be tempting to just put your money into a savings account. But if you want it to grow, you should find ways as to where you can invest your money and get the highest possible returns.
Andrew Altman is the editor-in-chief of SlickBucks.com which is a site dedicated to helping people learn more about the crazy world of investing. From reviews to informative articles, SlickBucks aspires to help people achieve the type of wealth they hope to achieve.
The month of May 2017 is about a week old. April is long gone, and I’ve already updated any readers on my passive dividend income for April 2017. Now it’s time to write about my online earnings for April.
I love passive income, but the biggest problem with this type of income is the fact that everyone starts at $0. That is, unless you’re a trust fund baby. You have to earn active income before you can receive passive income.
Even in the instance of people who get born on third base, someone had to earn the capital to produce the passive income to start with. I’m in the accumulation phase of this journey.
Dave Ramsey likes to say that your biggest wealth building tool is your income. If you can build up passive income that covers your expenses, you’re financially independent. You’ve reached the “pinnacle experience” that Ramsey mentions.
However, if you’re not yet there, you still have to earn your income. This will usually come from a job. Doctors and lawyers and engineers tend to make enough to build wealth pretty quickly. Most of the rest of us, not so much.
This, dear readers, is why I started attempting to ramp up online earnings several years ago. I figured that I needed to bring in some more income than my job provided.
I’d worked fast food and retail in college. I knew I did not want to do so again. That’s why I started investigating ways to make money online, preferably in my pajamas–hence the name of this site.
I earned some side money in April. Here’s how I did so.
Online Earnings For April
I had online earnings from three different sources in April. Keep in mind that these avenues took a bit of effort on my part. They were definitely active income. Here is my online income by source for April 2017:
This is about an average month for me. As I’m looking to build up passive income, I could increase my passive income by nearly $11 if I invested all of this money into a dividend stock that pays a 4 percent yield. That’s enough to buy me about 1/2 an hour of freedom based upon my estimate of needing $20/hour to keep up my current standard of living.
I’ve had people ask where I earned money for freelance writing. I’ve earned several thousand dollars writing on Textbroker over the past few years. This is a site where people who need articles/blog posts/marketing materials written post opportunities for enterprising individuals like myself. You can claim any that are available at the level you’ve qualified for.
I earned a bit of money from GiftHulk this month. This site pays users for the first search they perform each and every hour. You can also perform other tasks like watching videos on GiftHulk TV to earn more “Hulk Coins”, which is the digital currency that you can cash out.
I used my Hulk Coins to get PayPal cash, which I put toward paying down my mortgage. This will effectively earn me a return of 4.125 percent, which is my current interest rate. You can sign up for GiftHulk here if you want to start earning a few bucks in your spare time.
I also earned some income from Swagbucks. This is a site that’s pretty easy to use. You can use the money you earn here to build wealth over time. Here’s a resource with the general strategy that you can use to start growing passive income via Swagbucks.
Benefits Of Earning Online
One of the biggest benefits of earning money online is the fact that just about anyone in America can do so. For sites like Swagbucks or GiftHulk teens as young as 13 can earn. Most freelance writing sites will require you to be an adult.
If you’re smart, you can use the money you earn to do great things like pay off debt or save for the future. Whether you pay off debt or save money, you’ll earn a return that’s equal to the interest rate. You can avoid paying interest if you pay off debt. You can earn interest or dividends if you save. It’s a win-win situation regardless.
Online earnings are only limited by the time that you spend and the effort you put into making money. Also, it’s a good idea to think in terms of the future. A dollar today is worth more than a dollar in the future when you think of the power of compounding. The time to start earning is today so that you can take advantage of that power.
If you’d like to follow my progress each month, be sure to go to the top of the page and sign up for updates.
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