The Internet has created an unprecedented opportunity for individual freelance writers to make a living freelance writing or blogging online. What is a little disheartening is the number of college students who have no idea what they want to do for a living, or who want to become writers but aren't taking advantage of the time and resources they have to build that career. Online and offline writing are two very markets, and one of the advantages of starting right at the beginning of college is that freshmen have four or five (seriously the average time for graduation now is 4.5 to 5 years and not 4) years to slowly but surely build a passive income stream that could even amount to a full-time income by graduation.
The key is knowing the difference between the most common forms of payment online:
- Pay per assignment
- Pay per hour(s)
- Pay per click
- Pay per purchase
- Pay per views
Almost all form of payment online comes in these five forms, and the first two fall in line with traditional freelance writing while the pay-per-click and pay per purchase fall under what you would call Internet Marketing and Affiliate Marketing. Pay per views might vaguely fit in that field, although this option is not popular with most who say the PPV model is never as profitable as commissions from sales or advertising clicks like Google AdSense.
The first two are conventional freelance writing, and on a limited basis this isn't necessarily a bad idea as sites like Demand Studios, Text Broker, Associated Content, and Constant-Content all offer up front payments and this can be a great way to save up for Spring Break, get an early jump on retirement savings for those looking at the big picture or for anything else. If you understand residual income, then that freelance income can even be used to outsource and help you build your passive income blogs.
Passive income involves learning how affiliate marketing works, how online advertising works, and how Search Engine Optimization (SEO) works. Gaining knowledge of all these will teach you how to set up a good blog that can make money, how to rank high in the search engines, and that will all translate to making consistent monthly residual income.
By doing even just an article or two each day, you have the power of time on your side as you build niche websites or blogs which will begin making monthly income. Especially given four or five years, and that's not even including extra work you can do on vacations, J-Terms, May Terms or summers; you have the time to build up your sites in the rankings and earn money. Some college students may be making $400 to $600 a month in completely passive income by graduation (which is nothing to sneeze at), and that's on the low-end. With a full four years of steady work and education there's a good chance you can be making a thousand or even two thousand by the time graduation rolls around, and at that point life becomes wide open.