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:
Total Online Earnings for April 2017: $273.02
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.
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