Credit Cards

Earning Money Online in 2018 With Swagbucks

One of the easiest ways to earn money in pajamas is through the use of the website Swagbucks. If you are like me, you are likely very skeptical when it comes to the possibility of scams that claim to allow you to make money online. When I first read about Swagbucks, I did my due diligence to make sure that the site was not a scam. I first reviewed this site more than five years ago. I’m happy to note that you can still make money online with Swagbucks in 2018. In fact, I’ve accumulated more than $2,000 from the site since I signed up.

Swagbucks pays out members in the form of digital dollars known as SBs.  Members can earn currency for doing a number of various tasks online. Some of these are common tasks that they would ordinarily do anyway. Others require a bit more effort. What are some of these tasks, you might ask?

This site uses affiliate links. If you sign up for a program through one of my links, I may be compensated. 

1. Earn Money from Searching the Web

One of the easiest ways for members to earn SBs is through searching the web through the site’s search engine. Users who are signed in will earn random SBs by searching for things that they would normally search for anyway. I’ve personally won anywhere between 3 and 100 SBs for searches, although around 7 to 11 seem to be most common. While the search results might not be the same as Google, you have to ask–Does Google pay you? Swagbucks does.

2. Answering Polls and Looking at Ads

Each day, users of the Swagbucks site have the opportunity to earn an SB for answering a poll. There is also the chance to earn one digital dollar for completing the Daily Crave, which is involves a couple of videos that usually include ads. Finally, there is a “Deal of the Day” on the left sidebar that will pay out an SB.

3. Filling out Daily Surveys

Most of the surveys are similar to those offered on other sites. Generally, those who qualify can earn 50 SBs or more each day for completing surveys. You will not get accepted by many of the surveys, but most will give you an SB for your trouble if you don’t (up to a maximum of five per day). I’ve made as much as 200 SB for a single survey. I generally do not attempt those that say that they will take more than 10 or 15 minutes. Some will claim to take 45 minutes and pay out more, but I don’t want to stick with the computer that long at a time.  My favorite are those that take 10 minutes or less.

Click on this guy to watch videos that credit on                                                  Swagbucks.

4. Swagbucks Watch

Swagbucks Watch is an online video streamer that has a variety of options for those who want to watch. Members can watch news, financial markets, entertainment, and other types of videos. Most are fairly short. After watching a predetermined number of videos, a member will usually earn between 1 and 3 SBs. It is possible to start these videos and then leave the room. The site can afford to do this because each video starts with a 15 to 30 second ad that users have to sit through. There are reports that some users get the maximum daily limit of 500 SBs in this manner. They will also reload and continue running, theoretically indefinitely, although I’ve never actually tried it.

The image above, known as Laptop Guy (or LTG) in the Swagbucks community pays out pretty frequently. He requires you to click through the videos. I use this pretty frequently when I’m watching a show in the evening.

5. Clipping Coupons

Many people have been getting into the practice of using online coupon sites to get discounts on name-brand items at the grocery store. This is a great way to save money. One of the leading vendors of coupons is coupons.com. Swagbucks links to coupons.com and those who redeem the coupons clipped from the Swagbucks site can earn 10 digital SB for each coupon. It will take a few weeks for this to show up in an account, but I’ve personally seen 30 SBs show up for some coupons my wife used. The 10 SB is in addition to whatever the face value of the coupon is that you get during a visit to the store.

6. Referring Friends and Family to Swagbucks

Swagbucks is not a multi-level marketing site, but users can get bonuses for referrals. Each referral can earn the referee 10 percent of the referral’s earnings.  SB are earned for most of those earned by the referrals. There is currently no limit on the number of referrals a member can get. In the spirit of disclosure, if you sign up using my link, I will get the referral bonus. This does not come out of your earnings, but it will help mine. Of course, you can sign up with the regular old link and earn the same amount. I thank those who sign up with my link for Swagbucks.

There are other ways to earn Swagbucks on the site, but these are some of more common. Earning at least 30 SBs a day is possible with a very minimal activity. Just do a few searches in the morning and the evening and you should get around 15 to 20 without doing anything else.

7. Swagbucks Shop

By going through the shopping portal that’s provided by Swagbucks, you can earn cash back that ranges from 1 or 2 percent up to 10 percent at times on various online merchants. The rebate depends upon the time of the year and the particular merchant that you use. This is basically free money. Also, if you use a points-earning or cash-back credit card for the purchase, you can actually multiply the benefit that you can get from Swagbucks.

What are Swagbucks worth?

The basic value of each SB when it comes to redeeming them is usually around $0.01. This may not seem like much, but a person who just spends about two minutes twice a day doing searches is likely to earn well over $100 in a year, all while sitting on the couch or watching TV. When it comes to the end of the year, these rewards will come in handy for buying Christmas presents. I’m now up to nearly $2,200 in lifetime earnings through the site.

What can you get with Swagbucks?

There is a wide variety of items that users can earn through redeeming Swagbucks. These include digital accessories and games. Most people seem to redeem their digital currency for gift cards. These redemptions can start at 300 SBs for a $3 e-gift card from Amazon.com. Most gift cards are now about 500 SBs for a $5 e-gift card. Users can save up and get cards in higher denominations, but the cost is still about 100 SB per dollar.

Popular e-gift cards can buy merchandise at retailers like Walmart, Target, and Best Buy, as well as several popular restaurants that have included O’Charley’s, Chili’s, and TGI Fridays. Members also have the option to redeem their Swagbucks for PayPal credit. This is basically straight cash into your account. When looking at the effort required, signing up for Swagbucks is a great idea. Here are my top 5 ways to redeem on Swagbucks. It’s a great way to earn a few buck in your spare time.

You can find out how you can actually start to build wealth using Swagbucks in my eBook, which is free to read if you have a Kindle Unlimited subscription. It’s $2.99 otherwise.

Disclaimer: This post includes affiliate links. I obviously appreciate any support you choose to give. You can just go to Swagbucks and earn as much, but I appreciate if you decide to click on my link. 

Be sure to sign up for my mailing list or to follow me via Twitter if you’ve found this article beneficial.

Credit Cards

How I Made Nearly $700 From Online Side Hustles in December 2017

December has come and gone, as has 2017. We’re now about a week into the new year, and it’s a good time to look back at how I earned money from my online side hustles during the past month.income from online side hustles December 2017

I started looking into ways to make money online a few years ago after the birth of my first child. My wife decided to be a stay-at-home mom, and I decided that I needed to bring home a little more bacon to make ends meet.

When I started grad school a couple of years later, the importance of supplementing my income online became even more clear. I was not able to finish up my time in grad school without any debt, and I’m working at paying it off with my online side hustles today.  I hate debt, and I’m pretty motivated to pay it down more quickly. This is where my side hustles come in handy.

This is really how I earn money in pajamas. I make this money without leaving the house. If I could theoretically build up my passive income from dividends and my income from online side hustles to a large enough level, it could theoretically allow my to work from home full-time. This is a long way away, however.

Why Track Income from My Online Side Hustles?

You might wonder why I track where my side hustle income comes from. I want to show that you can earn from online efforts. I also want to show that some of the income rolls my way pretty easily.

My hope is that my earnings are a motivation that can help you take control of your own personal finances. If I can do it, you can do at least some of it as well. Some of the freelance writing takes a bit more effort and skill, but much of my online side hustle income rolls in with some pretty mindless activity on my part.

For example, before I started writing this post, I earned a few cents by clicking through some activities on Swagbucks. These are pretty mindless, but they add a few cents toward my overall financial health. I would not earn them if I was like most people.

You should try to work in your spare time like this. It can help you build wealth over time. Teens as young as 13 can utilize some of the options that I’ve used over the past few years.

Where My Online Income Came From in December

You might be wondering where my online income came from in the month of December 2017. Here are the methods that I used to earn some income in my spare time during December (some of the links are affiliate links. I could be compensate if you sign up with my links). Please note that I had some carryover income from November that got paid in December. This made my December earnings higher and my November earnings ($155.06) a bit lower:

Freelance Writing: $549.45
Swagbucks: $85.00
Earnably: $1.00
EarnHoney: $20.50
GiftHulk: $5.00
Ibotta: $20.00 (Sign up with my link at get $10 after your first purchase with the app.)
Amazon: $2.10 Page views and sales of my eBook — you can read this for free if you have a Kindle Unlimited subscription

Total income from my online side hustles in December came in at a whopping $683.05. I’m pretty happy with that much money to say the least. If I can keep it up over the next year, my debt from grad school could theoretically be gone. Of course, I’m putting some of that money into an investment account to save for the future. Still, how would nearly $700 help your budget?

I hope that this shows that it can be done. Even with stuff that requires little thinking, I still would have added more than $100 to my income in December. That’s nothing to sneeze at, for sure. Keep in mind that the title of this blog is Earn Money In Pajamas. I made all of this income without leaving the house, with the exception of Ibotta, but this site pays me rebates for stuff I buy anyway.

Earnably

Can You Make Money Online?

Absolutely. Your ability to earn money online is limited by the time that you have available each week and the imagination that you might have to market some opportunities to others. Setting up your own blog can be a great way to share these opportunities that can help people out. You can also start to earn affiliate income of your own.

WordPress recommends BlueHost, which is one of the top options for self-hosted bloggers. I’ve started a blog with BlueHost, and it literally took 5 minutes after choosing a domain name. You can sign up for BlueHost by clicking the banner below if you’re interested in getting a self-hosted blog.

Remember, I started out making absolutely nothing online. I’ve now built up to where I’m making nearly $5,000 a year in my spare time. This can definitely grow over time.

Reviews Of Money-Making Sites

Here are a couple of reviews that might help you decide which sites might work for you:

Earn Cash and Rewards with Swagbucks
Swagbucks is my favorite site to use to earn money. If nothing else, you can make money from searching the web.

Earning Money In Pajamas With GiftHulk

My Ibotta App Review
I use this when I go shopping. Again, you can earn $10 for signing up with my link and getting your first rebate within a week. With cashouts starting at $20, you’d be more than halfway to redeeming for some PayPal cash!

How did you earn extra money online during December? Do you have any other options that worked? Let me know in the comments. I’d love to check them out!

Keep Up With My Progress

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.  I’ve passed 350 Twitter followers, and I appreciate any support you might choose to give.

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 and show them some easy ways that they can do so. Just click on the “Share This” link on the side of this post!

Disclaimer: This site has affiliate links. If you decide to sign up with one of these affiliate links, I may be compensated. I appreciate any support you might provide.

Credit Cards

Paying Off Debt With Online Earnings

Last month, I started tracking my attempt at paying off debt with online earnings.  I started earning money in pajamas several years ago, largely to supplement my income while I was in graduate school. I earned very little in my job as a graduate instructor. Had I been single, it probably would have been enough, but I had kids.

I still built up around $36,000 in debt because of my schooling. There was a period of about four months between the end of school and starting my new job, as well as a move, that led to major debt. The debt helped me out because it opened some more doors for employment opportunities going forward. However, I…HATE…DEBT. The payments that I have to make toward debt means that I have less money for things that I like, such as saving for retirement and traveling to various and sundry parts of the world.

I had been saving up money for my dividend income portfolio, but then figured that I could keep some of this credit card debt from school for between eight and ten years if I paid only the minimum. I do not like that idea. Therefore, I decided to start using my online earnings for paying off debt (and saving, but saving less).

My Latest Step Toward Paying Off Debt

I earned some money from freelance writing last month, and the biggest payout came last week. I promptly transferred this payment from PayPal into my checking account. From there, I made another transfer to, you guessed it, the debt.

I was able to put $110 toward my debt. This one payment was well above the $81 minimum for the month. If I continued making the minimum payment at $81, it would take more than 8.5 years to pay off the debt. And this is without taking into account any balance transfer fees that add between 3 and 5 percent to the balance each time. I could easily be in debt for 10 more years at that rate.

Paying debt needs to be a priority!
Erasing debt is my goal.

If I were to make $110 payments each month, the payout period drops to the six-year range before taking into account balance transfer fees. I always look for 0 percent balance transfer rates so that I minimize the interest payments to the amount of the balance transfer fees. Otherwise, I’d probably have to pay 13 percent or more on the debt, which is way more than I want to.

This payment dropped my original debt amount of $36,000 below $8,000. I’m pretty excited about this, to say the least. However, I’ll be even more excited when I can pay off the whole kit and kaboodle.

Keep Up With My Progress

If you’d like to help me achieve my goal of paying off debt with no expense to yourself, you can make your purchases from Amazon through the link below. You’ll pay the same as you normally would, and I’ll get a small commission. Just click the image below:

You can also sign up for the following sites and start to earn points that can lead to PayPal cash, Amazon cards, or even Bitcoin.

GiftHulk (I’ll earn $0.10 if you sign up)
Earnably (I’ll earn either $0.02 or $0.10 if you sign up, depending upon where you live)
Swagbucks (I’ve earned more than $2,000 from this site, and it’s my favorite. I don’t earn a bonus if you sign up, only if you actually earn.)

Don’t feel obligated to sign up for anything you see on the site. I appreciate people who just stop by to read and/or comment.

How are you using side hustles in your goal of paying off debt? Let me know in the comments.

Sign Up For Updates

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.  I’m now above 300 followers, and I appreciate the support.

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 and show them some easy ways that they can do so.  Just click on the “Share This” link at the bottom of this post!

Disclaimer: This site has affiliate links. If you sign up with one of these affiliate links, I may earn compensation. I appreciate any support you might provide.

Credit Cards

EarnHoney Review: Can You Earn Money In Pajamas?

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.

EarnHoney review of HoneyDollar$ earned
Here is the HoneyDollar$ page that shows how much you’ve earned

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.

Earn passive income with Buzz TV
Buzz TV is a way to earn passively.

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 Men on 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.

Other Reviews For Earning Money In Pajamas:

Earn Cash And Rewards With Swagbucks (I just passed $1,700 in lifetime earnings with Swagbucks)

Earn Money With CashCrate (I’ve earned more than $1,000 with CashCrate)

Earning Money In Pajamas With GiftHulk

If you’ve found this review helpful and would like to get further updates, be sure to sign up to follow the site. You can also follow me on Twitter. I truly appreciate your support.

Credit Cards

Earning Money in Pajamas With Real Estate

One of my favorite sayings is that passive income is the best income.  Passive income is money that you don’t have to put any effort toward earning. It’s money that you get just by waking up in the morning. Passive income would definitely be a form of earning money in pajamas. You might wonder where that idea of earning money in pajamas and real estate investing would come in.

You Can Make Money in Real Estate

When most people think of investing in real estate, they think of the common slumlord who owns a property or ten that they bought to make some money of some poor, unsuspecting college student or fast food employee (sometimes these demographics are one and the same).  This is definitely one way that people have made money in real estate–buy a property with other people’s money and then have your renters pay the loan back. After the property gets paid off, the rent that hopefully continues to come in becomes a solid cash flow, or if you don’t want to continue to deal with renters, you can sell the house off and pocket the cash. At least this is how it’s supposed to work.

Real Estate image. Wikimedia Commons via GregoryJ77, Public Domain

You Can Make Money in Real Estate, But…

Many landlords find that they can make money at times, but there is the issue of finding people to rent out the property, or more importantly, the right people to rent out the property. Some renters will stiff their landlords and fail to pay on a regular basis. If you’ve bought the house and still owe on it, this lack of cash flow from derelict tenants can lead to negative consequences for your budget. Then, if this problem becomes habitual, you might find that it’s necessary to evict the renters.

I don’t know about you, but getting the courts involved does not really sound like passive income to me.  Furthermore, renters are less likely to treat your property with care. Many landlords have found that they have to clean up big messes when their renters move out, be it voluntarily or in a more forcible manner. Some of this cleaning might require some  light construction work. I’m not terribly handy, nor do I like cleaning up messes. How then did I come to decide that I’d like to become a landlord?

Enter the REIT

As I’ve been noting in recent months, I’m investing in equities in an attempt to slow down how much I have to work for money as more of my money goes to work for me on a daily basis. If landlording sounds like a lot of work, it doesn’t have to be. I’ve decided that my real estate investments (at least outside of my own personal residence) will come through Real Estate Investment Trusts, otherwise known as REITs. These companies own properties that they then rent out to make money. The REITs that I’m investing in directly have businesses that tend to sign multi-year leases with annual increases built in as renters. I’ve owned some shares of Omega Healthcare Investors (OHI) for a few months, and I just pulled the trigger on 10 shares of Realty Income Corp (O) this past week.

Both OHI and O pay out healthy dividends at this point. They are also on sale from the levels that they were at in the summer. Additionally, the dividends that these REITs have been paying have also been growing on a regular basis. Where most companies who increase their dividends on a regular basis do so annually, Omega Healthcare Investors has been increasing its dividend on a quarterly basis for the past few years, and Realty Income has been announcing multiple increases each year. Additionally, Realty Income pays out every single month, much like a property that I’d own outright.  That’s 12 payments a year. I’m planning to build up the position over time, so my income should grow from a small beginning.

REITs Can Pay Nice Yields

I’m getting a dividend yield of nearly 4.5 percent on O and nearly 7.5 percent on OHI. I don’t have to find renters. The management of these companies do that for me. I don’t have to clean up for tenants who move out. The companies will do that for me. Finally, I don’t have to evict anyone. The companies will do so should it come to that point. I don’t have to do anything related to management of the property. I get all of the benefits of being a landlord (as well as some of the risks) without actually having to deal with most of the hassles that come with the territory. Of course, there are risks with any investment, but I feel that the passive income that I’ll hopefully be earning while sitting in my recliner or in my office for years or decades to come will pay off big in the long run.

Disclaimer: Long O and OHI, I am not an investment professional. Information on this site is intended for educational/informational/entertainment purposes. It is NOT a recommendation to buy. Please do due diligence before investing in anything at all. 

Reminder: If you’d like to be entered into my drawing for an Amazon.com e-Gift card code that’s closing down on Christmas Eve, be sure to sign up with my email list via MailMunch. This is the popup that shows up when you first visit the site. If you’re interested in the rules for the Amazon giveaway, be sure to check them out here.

 

Credit Cards

Taking the Long View of Personal Finance

Do you want the bad news first, or would you rather have the good news? I’ll start with the bad news. Most people in the United States live for today. The average American is deep in debt, and this debt can really lead to many difficulties in life.  A person’s savings rate is the leading indicator for future wealth. This indicator reached an all-time high of 17 percent of income back in 1975, but by July 2005, the rate was at an all-time low of less than 2 percent. Today, the savings rate for the average American has reached 5.7 percent, which is three times what it was just a decade ago.  The good news is that there are some pretty easy steps to take to improve your personal savings rate and shore up your finances.

The reason for this increase is probably related to what happened between 2005 and today–the Great Recession.  People were shaken by the sudden crash of the economy. While a savings rate of between 5 and 10 percent might seem impressive given where it’s come from just a few years ago, it’s still not all that great. The popular site Mr. Money Mustache has a pretty amazing article on “The Shockingly Simple Math Behind Early Retirement” that looks at how the savings rate can determine how long a person has to work.  A person who saves 5 percent a year will have to work about 66 years to be able to retire comfortably. Fewer teenagers are working today, so this means that a 20-something who starts to work today will need to work until about age 90 before they can let someone else take over their job.

This math presupposes that there is no pension waiting on a worker and that the doomsday scenarios of Social Security that claim it will pay nothing at sometime in the not-too-distant future will come frighteningly to fruition.  This means that the savings rate of American workers is woefully short of what it needs to be. Even the record savings rate in the post-1959 world that was noted above will require quite a bit of work. A 17 percent savings rate means that a worker can retire right around the “traditional” retirement age after working approximately 40 years, again assuming that there is no pension or Social Security payment coming. Needless to say, this is not a terribly comforting situation.

These numbers are why it’s important to take a long view when it comes to personal finance.  Those who fail to plan actually plan to fail, so getting some goals together is a good idea. I don’t know about you, but having to work until 90 would mean that I’d probably be dead before I can afford to quit working on a full-time basis.  That does not seem like a terribly enjoyable path to take. The time to start planning for retirement was 10 years ago. However, if you didn’t put in the effort to plan 10 years ago, the second best time is now.

This is where earning money in pajamas proves to be a great idea. If your main gig barely pays the bills, there are exactly two ways to save money (outside of having a long, lost extremely rich uncle give you a massive inheritance or hitting the lottery, which is a losing proposition because the house always has to win). These first of these two realistic methods is cutting expenses. With the number of high-paying jobs not being what most Americans might wish, keeping expenses down is definitely an important step to take to ensure that you can build wealth over time.

The second option for saving more money involves finding other avenues to make money. With the advent of the Interwebs, the opportunities for making more money are quite extensive. Here are 11 such options that I’ve shared before for making extra moolah online .  Few jobs require employees to work every waking hour, so most workers will have several hours each week to earn more money. The best part about utilizing the Internet means of making money is that you don’t have to leave the house. You can literally sit around in your pajamas on a Saturday afternoon and make a bit of money while watching football. If you have a connection to the Internet, there is absolutely no reason why you shouldn’t attempt to make more money. The link above has some great ways that I’ve been able to make money. I’ve used a few to make more than $1,000.

It’s important to take the long view of personal finance when thinking about making money online because it’s easy to get discouraged. A few hundred dollars a year might not seem like much, but your future self will appreciate that your current self decided to save some money for the future. I’ve noted before that saving just a dollar a day between the ages of 16 and the “normal” retirement age of 65 will yield an account of around $286,000 if an 8 percent return can be realized.  The power of a simple dollar can be quite amazing.  If you can raise this amount to $2 a day in additional income that you can save, you’ll have around half a million by retirement. Only $4 a day will lead to a cool million by 65 if you can start at 16. Discipline is important through all of this, and it’s important to stay in the market.

Those who are able to engage in both of the strategies listed above can super-charge their trek toward retirement. Cutting $4 in spending each day and then making just $4 extra per day and then saving the $8 would lead to nearly $3000 in savings after just a year and nearly $2 million over a 50-year period if you were able to earn an 8-percent return. Those who do not have 50 years to play with can still make some major progress with just a few small tweaks. Even if you’re only looking at 20 years until needing the money, you’ll still be way ahead of what you would have should you never have started to begin with. The time to start making some money in pajamas is now. The sooner you do, the sooner you can start saving and taking advantage of the compounding process.  Thinking of the long terms is the only way to make this happen, however, so be sure to get started today.

Disclaimer: I can receive compensation if you sign up for some of the programs that I’ve reviewed using one of my referral links. I definitely appreciate the support, but in the interest of full disclosure, you can still get the the same benefits without using my link. 

If you’ve appreciated or otherwise enjoyed this post, be sure to sign up to get updates when I post any new articles.

Credit Cards

Using Dividends to Buy More Dividends

One of my long-term goals is to build up a decent amount of wealth that can produce a nice level of passive income over the long haul. While I’m not likely to get to the $1 million per year in passive income, I believe that several thousand, if not tens of thousands in annual income, is definitely doable over the next couple of decades. When trying to earn money in pajamas, one of the best ways to make this happen is through dividend income. This is passive income that accumulates as a return on capital from allowing great companies to use said capital to operate and grow their businesses.  As I’ve said before, passive income is the best income.

Earning more money is always a good thing. The bad thing about earning more money is the time that it usually takes to do so. There are, however, some strategies that can be used to make more money without putting in any additional effort. Investing for dividends is one such strategy. Here is an article that lists three great reasons for investing in dividend paying stocks. The final reason is key. Even stable dividends pay out more over time. “How can this be?” you might be wondering. The answer is simple–COMPOUNDING.

There is one step and one step alone that is required to compound the your gains, provided that the dividend is left stable by the company paying it out. This one step is reinvesting. There are a couple of different avenues that can accomplish the reinvestment of dividends. The first is through a DRIP program. The DRIP stands for Dividend ReInvestment Program, and in this situation, an investor automatically reinvests the dividend into additional shares of the company that originally paid out the dividend. This will basically increase the dividend payout by the annual yield. A dividend yield of 3 percent that gets reinvested will see the annual dividend payment raise by about 3 percent over the course of a year because the number of shares that our hypothetical investor has should increase by about 3 percent. This is an increase in income that’s more than inflation has been over the past few years–all without lifting a finger.

Several brokerages, such as TradeKing, allow you to automatically DRIP your dividends into companies that permit dividend reinvestment. TradeKing is currently offering a $50 bonus for new signups under my referral link listed above.  You would get $50 for meeting the requirements, and I would also get $50. You don’t have to sign up with my link to invest through TradeKing, but I greatly appreciate any support you might feel like giving. This bonus could be used to buy a share or two of many great dividend-paying stocks.

Automatic reinvestment is one strategy, but there is another. I use the DRIP in my Tradeking account, but I have to use the other strategy in my Loyal3 account because DRIPing is not an option. This involves stocking up on dividend payments until a certain minimum amount of cash is reached. The minimum investment through Loyal3 is $10, and I pay no fees for my investments on this site. You can check out my review of Loyal3 here.  Those who invest through a TradeKing, Scwhab, or any other investment account can also pool dividends to diversify. It’s probably best to pool until a decent amount of money is available so that you can keep the transaction cost to a minimum. For example, a share of AT & T costs around $40 a share right now. Through TradeKing, if you were to purchase only one share, you’d pay $4.95 in transaction fees, which effectively adds about 12 percent to your purchase price.  It would also eat up more than the $1.92 in dividend income you’d get in the first year. It would be year three before dividend income would exceed your transaction cost. If you were to hold off until you could buy 10 shares, the transaction fee would drop to slightly more than 1 percent of the purchase price, which will definitely help long-term returns.

loyal3-logo

I decided in January to use my dividends from my Loyal3 account to diversify. Any additional purchases would come from new funds, while dividend income would just sit until I reached $10 in the account. During the first week of April, I reached the requisite level to make my first purchase from my dividend income stash. I decided that I would buy shares of Unilever (UL), which is a massive international consumer goods company that produces everything from butter to deodorant. I again started to pool the dividends after making this small $10 purchase, except now, I would be adding the small dividend from Unilever into the equation. My first payment came in June, and added $0.08 to my account.  Admittedly, this was a very small amount of money, but it allowed me to inch toward another purchase a little bit more quickly.

I hit $13 worth of dividends in my account by the first week of July, as my payment from Coca-Cola pushed me across the necessary $10 threshold. Again, I put the accumulated dividends toward more UL. Last week, I got my second payment from Unilever, and it was up to $0.17 over the course of a quarter, still not a huge amount, but an increase over the course of three months that allows me to edge ever closer to another purchase. This morning, I awoke to find that a dividend payment of nearly $4 from McDonald’s had posted into my account. This brought my account total $11.49, and I made my third purchase of Unilever stock for $11. If all goes according to plan, I will see a payment of around $0.25 for the fourth quarter in December.

I admit that I’ve put more capital toward my account with Loyal3 over the past nine months, but it’s been great to see that my dividends are growing and allowing me to purchase additional dividends. Even if I never added any additional capital to my account, I should be able to grow my dividends as companies decide to give dividend increases and I reinvest my dividends. This is the power of compounding. Of course, I’m hoping to have enough capital available to pay my bills and to invest each and every month going into the future, but seeing additional dividend income come in without doing more than making a few clicks and keystrokes is positive reinforcement. It’s exciting to see my dividend payments going higher and higher over time.

Disclaimer: I am not a financial advisor. This article is not a recommendation to buy any security. It is intended only for educational/entertainment purposes.

I am long all stock listed in this article.

If you’ve found this article interesting, be sure to sign up to receive updates to the site at the top of the page. You can also follow me on Twitter.

Credit Cards

August 2016 Passive Dividend Income

Another month has come and gone, and again, it’s time to look over the past month and figure up the passive income that I’ve earned from owning great companies that are willing to return some of the capital that I’ve invested into their success.

I’ve decided to invest in companies that pay dividends, as those companies that are able to increase revenues and earnings over time are also able to increase the amount of their dividends. This is an example of my having my money working for me. This was the first month that I’ve been able to compare my dividend income on a year-over-year basis, as I “earned” my first dividend payment in August 2015. I have earned in quotes because I earned the money that initially went toward the  investment, but I did not have to put in any additional effort to get this passive income. My dollars are working for me, and over time, they should be able to earn even more, hopefully to the point that my money makes more than I can.

I received dividend payments from four companies in August. I received a payment from one new company, as well. Without further ado, here is my dividend income from the month of August 2016:

Starbucks (SBUX):                           $0.18

Apple (AAPL):                                    $2.57

AT & T (T):                                             $6.94

Omega Healthcare Inv. (OHI): $3.60

TOTAL for August 2016:           $13.29

This dividend income brings my total for the year up to $83.40 for the year, which is more than $10 a month. Furthermore, this dividend income for the month was $4.11 more than the dividend income I received in May. This equaled out to nearly a 45 percent increase in just one quarter.  When looking at my dividend income on a year-over-year basis, I went from $0.64 in August 2015 to $13.29 in August 2016. This equals out to a 1976 percent increase in just one year. Obviously, this will not be likely for every year in the future, but it is a nice increase to say the least.

Another point that I’d like to make regarding the dividend income I received in August. I am able to DRIP my dividends in my TradeKing account. This allowed me to purchase 0.097 additional shares of OHI and 0.160 shares of T. My additional fractional share of OHI will add $0.23 to my annual dividend income, and my additional fractional share of T will add $0.31 additional dividend income. These are not huge increases, but over time as they add up, they will make a difference in my dividend income.

My current anticipated annualized dividend income $204.64 after having purchased some additional OHI in an IRA that I rolled a former employer-sponsored retirement plan into. That’s about $17.05 a month on average. I’m getting closer to being able to take an hour off each month (figuring that I need $20 per hour to replace working income after noting that I won’t be paying out nearly so much in taxes at that point).

My dividend income is definitely an example of earning money in my pajamas. The companies that I invest in are making money around the world at any given time of the day. How was your dividend income in August?

Disclaimer: I am not a financial advisor. This article is not a recommendation to buy any security. It is intended only for educational/entertainment purposes.

If you’ve found this article interesting, be sure to sign up to receive updates to the site.

Credit Cards

June 2016 Passive Dividend Earnings

Another month has come and gone, and I made some money in pajamas during June 2016. While I do quite a bit of work from home (or on the road) most months, my goal is to get a higher percentage of that income to come from passive sources. The biggest source of passive income that I’ve decided to work on is income via dividends. These payments from quality companies generally come in on a quarterly basis, and they provide me with additional capital to put toward additional stock in high-quality companies that I already own or that I have on my wants list.

My money can work harder than I can over time. I have to put in effort to earn money, but I have a limited number of hours in the day that I can actually work. My money can work day after day after day, 24 hours a day, 265 days a year. While I have a relatively small trickle coming in these days, I am planning to see this tiny stream grow into a rushing river of dollars in the future. It might take several years to get there, but if I’m able to continue on this path that I’ve started, I fully anticipate that my goals can be reached. The companies that I own paid me on several occasions last month, and without further ado, here is the passive dividend income that I didn’t have to work to earn in the month of June:

Unilever PLC (UL)                                $0.08

Wal-Mart (WMT)                                 $3.02

Kellogg (K)                                                $0.72

McDonald’s (MCD)                            $3.40

Royal Dutch Shell PLC (RDS.B)    $11.63

TOTAL DIVIDEND INCOME FOR JUNE 2016     $18.82

This dividend income might not seem like a massive amount, but it is a record for me. My previous high for a month was back in March, when I received $13.62 from my dividend-paying stocks. This was a 38% increase over just the past three months. This income brings up my total annual dividend earnings up to $61.61. I am now up to averaging a cool $10 per month in dividend income, and I’ve almost passed the $20 mark for a single month. I measure my progress by the number of hours of work that I could theoretically take off were I to replace work with passive income. My estimated annual dividend income at this point is up to $147.57, which is right around 7.5 hours were I to figure that I need to replace $20 per hour (after taxes and retirement contributions that would no longer come out). In June, I could have almost taken off an hour of work at this rate. My hope is that this will only continue to grow over time.

Disclaimer: I am not a licensed financial professional. Be sure to do due diligence before investing in securities. This article is not a recommendation to buy a specific company. It is only for educational/entertainment purposes.

Credit Cards

How Swagbucks Allows Me to Earn Passive Income from Dividends

My very first post on this site more than three years ago touched on the benefits that users could earn from the site SwagBucks (you can sign up here).  The site allows users to complete a number of different tasks that earn a virtual currency known as Swagbucks. This virtual currency is not like Bitcoin in that the value can vary greatly over time. The Swagbucks pretty much have a fixed redemption value of one cent per Swagbuck. This current post is going to show you how you can cash in and start to earn passive income that could literally last for the rest of your life.

Many people who use the site cash in for things like $5 e-gift cards from retailers like Amazon or Walmart. I do not choose to use this redemption option. The coolest of all redemptions, in my estimation, is $25 in PayPal cash. I use the site to earn money in pajamas, and have been putting my PayPal cash to work earning money on the money I earned in my pajamas.

2,500 Swagbucks allow to cash in on PayPal. I can earn these 2,500 Swagbucks in a variety of ways. One of the most common options is by searching on the web. I use the search bar, and the site randomly provides a number of Swagbucks that generally ranges between 4 and 50. Here is a picture of what a “win” looks like:

I scored 11 Swagbucks with this search.
I scored 11 Swagbucks with this search.

 

Answer Surveys

One way that I can earn more Swagbucks is through online surveys. I tend to look at the surveys under “Gold Surveys” the most, as I seem to have more luck getting them to credit. The surveys that pay out 50 Swagbucks for 10 minutes are generally from a site called Opinion Central, and I have had pretty good success from these. They generally take less than the 10 minutes advertised, as well.

I opt for the New Gold Surveys
I usually opt for the New Gold Surveys

Another major way that you can earn Swagbucks in pajamas while watching the TV is by watching videos. There are a couple of options that I’ve found that I can earn quite a few Swagbucks pretty quickly.  I frequently will watch videos by clicking on this dude who’s sitting behind a laptop:

Click on this guy to watch videos that credit on Swagbucks.
Click on this guy to watch videos that credit on Swagbucks.

 

Watch Videos To Earn On Swagbucks

After clicking on laptop guy, you will then be taken to a screen that invites you to watch the videos. You have to scroll through a few (usually between 5 and 10, although sometimes there will be an ad campaign with just one video). This usually pays out 2 Swagbucks, which is admittedly not much, but I can easily scroll through them while watching TV (this is the maximizing spare time for income, folks). Sometimes around Christmas, the process will pay out 3 Swagbucks per task. You would click through all of the videos. I set up my screen to look like this so that I know when to click the green button:

Swagbucks Videos 2

Another easy way to earn a few Swagbucks while watching TV is through nCrave videos. I like the ones that are highlighted here. I use the ones with the swirling arrow icon that’s circled in red:

Encrave Videos can help you earn some Swagbucks with little effort.
nCrave Videos can help you earn some Swagbucks with little effort.

After clicking on the nCrave video, you need to make sure that the “Discovery Mode” is toggled to the green check mark. This will let the carousel of videos play automatically. Again, you won’t get rich overnight from this process, but it’s a few Swagbucks for very little effort. They do add up over time.

Make sure the Discovery Mode is toggled on to automatically cycle through the videos.

Make sure the Discovery Mode is toggled on to automatically cycle through the videos. 

I work on several of these tasks when watching TV on a daily basis. Most months, I am able to cash in at least $25 toward PayPal cash; some months, I cash out $50. When this cash hits my PayPal account, I can then transfer it to my linked back account and then transfer it to a brokerage account. I’ve been transferring it to Loyal3 each month. When it hits Loyal 3, I can then invest with no commission in one of the 60-some companies that this brokerage allows people to invest in. I reviewed how I use Loyal3 hereNote: Loyal3 is no longer a good option, as it is closing down in May 2017. 

Each PayPal cashout will allow me to get around $0.75 per year for life for each $25 I invest (when estimating a dividend yield of 3%). Over the course of the year, I will get around $10 in dividend income, give or take a few dollars, depending upon the companies invested in. This is where the concept gets pretty cool. That $10 in dividend income can then be put into additional stock, and the compounding process can begin.

The money that I earned in pajamas with Swagbucks can then go toward making its own money, which will then make more money. This is the definition of passive income. Over time, even if one or two companies go belly-up (I buy only companies that are paying dividends, and I invest in multiple companies to diversify my risk), I should have a pretty decent amount of income coming in on a quarterly basis. The major factor for success is persistence.  Check out this article on the power of getting just an extra dollar a day to invest.

What Are You Waiting For? Passive Income Is Within Your Reach! 

To get the ball started, you can sign up for Swagbucks here. Please note that should you do so, I could get compensated for referring you. I only share method’s that I’ve used myself that work. I’ve earned more than $1,000 via Swagbucks since signing up, and the majority of this income has been earned by my activity, not referrals. Now the money I’m earning is earning its own passive income. Should you decide to sign up with my link, I appreciate your support. Good luck earning money in pajamas.

If you’ve learned something new from this post, be sure to sign up to follow the blog. I update it fairly frequently with the ways that I’m earning passive income.