Money making secrets, how many times have you wished that you had a few extras strategies up you sleeve? The reality is that we count on our jobs for reliable income month after month, but what happens during a recession? Many of us are now "underemployed." Instead of being completely without a job or laid off, as we would have been in the past, we are now working for either reduced wages or part time hours. The undeniable truth is that we have far less buying power than we did a couple of years ago, so we need more money. How should we go about making it without cost or downside risk? Are there ways to get paid today?
Money Making Secrets and Truths
The truth is that money making secrets are not what those trying to sell you the latest e-book would like you to believe. There are no quick fixes, no make money easily overnight options that are sustainable for more than a day or two. There are no ways that I know of to make money without actually doing some pretty intensive work in the short term. What you can do, and very successfully I might add is to put yourself on a path to financial security by starting to generate some passive income in addition to your work income.
What is Passive Income?
Passive income is income which comes to you at regular intervals for work that you do just once. In theory, passive revenue streams are very low maintenance and require very little of your time once the revenue stream is firmly established. That is not to say that starting new passive income revenue streams does not require work in the short term. But rather, that once established, passive income does not take much of your time to continue maintaining.
Why is Passive Income a Good Choice?
Unlike the job that pays you a wage for all work that you complete, passive income allows you to work once and then get paid for a very long time thereafter. Your job and income are limited by how much you can physically work. However, your passive income revenue streams are only limited by the number of revenue streams you choose to generate and maintain. Each will continue to earn as you move on to adding new income streams and making more money than the month before. The upside is totally unlimited.
Is Passive Income Guaranteed for the Work that I Do?
That would depend on the type of passive income stream you use to generate your income. The most common guaranteed form or passive income is investment income. You save a sum of money and invest it for a guaranteed interest rate. Your money then works for you and the interest that it generates is a form of passive or residual income. As you are well aware, investments have some risk involved with them, and some are riskier than others. Theoretically, you should reinvest your interest back into your principal in order to start generating more passive income. This is most commonly known as compounding interest, and how your nest egg grows more quickly than you can actually save. The upside is that you should be able to figure out how much your money will earn and how to reach your savings goals, guaranteed. The downsides are that there is some risk involved with the investment itself and you need a chunk of money to get started making this type of passive income.
There are other ways to get started making passive income for free, although, there is no guarantee of return on your time. Free is a great price when you have no money to get started, but as I have said, you are not guaranteed a return on your time. I will get into these methods a bit more later on. For now, just know that there are solid and legitimate strategies and they require no money to started. The disclaimer of not being able to guarantee your success said; I know these methods work, because I use them myself and am earning steady residual income from my efforts.
The Best No Investment Residual Income Program
Here comes the great info I promised you. How to start a legitimate residual income business for free, everything I am about to tell you is the real deal.
The easiest and cheapest ways to get started making money with residual income is by posting content on the various revenue sharing platforms available online for free. You need nothing but your brains, time and tenacity to get started. Choose any topic you want and start writing. Once you content is written, you will need to decide where to host it.
Where should you start your online residual income business? Try Infobarrel, Hubpages, Squidoo, and many other revenue sharing sites to get free hosting. Start with these three first to get you going, then diversify out later. Buy your own domains and create your own websites as soon as you have learned the business and can afford to do so.
Next, sign up for affiliate programs to make some money. Adsense, Ebay, Amazon and Chitika ads are all programs which are well known and reputable. Ad placement and product sales through these programs are how you will generate income and get paid. All affiliate programs are free to sign up with and will pay you to send customers to their sites.
Promote and drive traffic to your pages to increase your income. It helps a lot if you know some solid search engine optimization. Getting traffic to your pages will be much easier if you use SEO, and really is the secret sauce of making money online. If you are not familiar with the process of search engine optimizing your work, you are missing out on the easiest free way to make money online ever. Free targeted traffic is like money in the bank since there is only upside potential without the downside risk of buying traffic.
Here is the True Secret to Making Money Online Nobody Wants to Tell You
Residual income takes time to build and it is very much a volume business. There is no quick fix, as much as I would love to tell you that there is, there never has been and most likely never will be. What there is should not surprise you, lots of work. The truth is that you can start out without any money at all, until you are making enough in to start hosting your own websites and owning your own web real estate. Once you get to this point, your residual income will be solid, and you will be well on your way to not needing to depend on your job for income anymore.
Choosing to incorporate residual income in to your ability to earn income is one of the smartest moves you can make in your lifetime. By choosing online income as a passive revenue stream, you are choosing to diversify your financial stability. You will have passive income into retirement, not be as dependent on your day job for your livlihood, and have a hedge against inflation with unlimited upside on your earning potential.