How To Choose The Right Active And Passive Income Sources

In a perfect world all of my income streams would be passive.

I would be able to sit back and collect money from multiple, passive incomes while sipping a margarita on a beach.

It is definitely possible to create passive incomes but I ID-100169769believe in order to build a sustainable business, you are going to have to diversify.

A combination of passive and active incomes is what I am going for in order to build my desired income of $10,000 a month.

 

 

So what the hell do I mean by passive and active income? I’m glad you asked and here is the breakdown:

 

Passive Income= Income received on a regular basis, with little effort required to maintain it.

Source

Active Income= Income for which services have been performed. This includes wages, tips, salaries, commissions and income from businesses in which there is material participation.

Source

 

If the economic downturn has taught me anything it’s that everyone needs multiple streams of income in order to stay afloat. I am in complete charge of my financial destiny and the way that I maintain this is by having money flowing to me from all directions.

Formulate A List

So my plan is to create an income portfolio that includes both, active and passive income streams. Before I could really create my portfolio, I took some time to brainstorm a list of ideas for both, passive and active incomes. Here’s what I have so far:

 

Passive Income Sources

I know that as I go my passive income sources may change. Just like a job or side gig, your feelings about a passive income stream change or quite frankly, dry up.  I have compiled a list of passive income streams that I plan on pursuing over the next 6 months. Once I have a great system in place, I will then be able to put them all on auto pilot but of course, they are all active sources in the begining. There will also be a few a more sources added to the list as I go.

 

  • Ebook Sales
  • Probux
  • Affiliate Marketing
  • Info Products

 

 Active Income Sources

There are many ways to make active money online but my goals is to make money things that I love. Doing any kind of work that I do not like will cause me to feel trapped and that wasn’t the reason why I left my full-time job. Below is a list of income sources that I not only have a passion for but I am also able to make a great deal of money from with the right plan in place.

 

  • Blogging
  • Freelance Writing
  • Virtual Assistant Services
  • Coaching Services

Test Each Source

Now that I have selected my income sources, it’s time to test each one to see if it has staying power. Most of the income sources I listed have been tested in some capacity but I want to test how much money I really can make without killing myself.

You want to take the time to test your the items on your income source list as well.  What I mean by testing:

  • Go down your list and state WHY you’re interested in the income source in the first place. Is it because you’ve heard that you can make a lot of money or do you have a desire to do work in that particular arena?
  • Are people already making money in your selected niche? In the words of Tony Robbins, “Success leaves clues,” if other people are making money then you should have no problem joining them.
  • Try working on the source for at least a week. If you can stick with the project, keep going because it means that you are on to something. If you cannot find the motivation to get it done, you may be procrastinating or  maybe you’re just not into it. Don’t beat yourself up or try to force yourself to complete a project you could care less about.
  •   How much time is taking you to complete the project? Does the income source have growth potential to match the time spent? Basically what I mean is, will you be able to reap your benefits if you put 5 hours a day into the source? Now I know that success is not guaranteed for every project but like I am learning with Probux, I am going to have to spend at least 20 minutes a day clicking on ads until I can see the true benefit. Does your project offer a decent return on the time invested?

 

Create A Plan

Once you’ve gone through your income source list and scratched a few things off and got clear about the things you want to accomplish, you are now ready to formulate a working plan. We will go into detail about creating an action plan in next week’s post.

Until then, what projects made the cut on your income source list?

 

Image courtesy of Sura Nualpradid / FreeDigitalPhotos.net

 

Why I’m Adding the Probux Site to My Income Portfolio Part 1

probux

As I stated in this post, my goal is to make $10,000 a month by the end of December.

This goal is definitely going to take some work but I am very confident that I can make it happen as long as I play it smart.

I plan to create at least 10 different income sources that equal to around $1,000 each.

I will be breaking the process down a little better in my next blog post but for now I want to talk about my new love.

I have fallen hard for a particular PTC site and I want everyone to meet my new beau. Yes, I know that PTC sites have been around for years but it’s very new to me.  I stumbled upon the blog, Dollarblab and I read his epic post, “7 Best PTC Sites That WIll Actually Pay Out” and I was sold.

I signed up for about 5 different PTC sites but for some reason, I only stuck with one for so many reasons.

I have been using Probux for about a week and even though I haven’t made enough money to really get started, it has been a pleasant start.  Here’s why:

  • Absolutely no money down. That’s right. Finally an online business venture that doesn’t cost any money to get started.
  • You make your “investment” money by clicking on ads. This may seem like a waste of time for some but I love it. There aren’t too many tasks that you can do online that allow you to totally zone out or watch T.V. and make money at the same time.
  • Once you start making money, you can transfer a minimum of $5 to your Paypal, Payza, or Neteller account. The usual minimum amount for many sites is $10.
  • The overall layout is pretty straight forward and that helps me to get directly to my daily tasks.

How to Make Money With Probux

  1. Click and view your daily ads. Depending on the ad, you will either have to view it for 5 seconds or 30 seconds. Your earnings will be based on the total time you have to view the ad.

    5 seconds= $.001

    30 seconds= $.01

  2. Accumulate enough money to rent referrals. Referrals are basically  people who are also clicking and viewing ads just like yourself. When you rent referrals, you will begin to collect a commission from their views as long as they click and view ads everyday. It will take you about a week or so to have enough money in your account to be able to rent referrals. 3 rented referrals will cost you 60 cents so as you can see, it will take you about 7 consistent days of clicking and viewing ads in order to have enough to rent those referrals. I am learning that it is so important to just stick with the process and view those ads every day. Make it a habit from day one. 

Direct Referrals

Instead of renting referrals you can also earn a commission from getting direct referrals. You get direct referrals by posting a Probux link on your website like this: http://www.probux.com/images/banner3.gif and whenever someone clicks on the link and signs up, you will get a commission.  I like the idea of using both, rented and direct referrals to double your chances of making more money daily.

 I’ve decided to do a 2-part series on this post because I want to give Probux an honest view. It is really hard to do that when I am only a week in. I will write a follow-up review after I have rented my first 3 referrals. This business model definitely has a slight MLM feel to it and normally I would not go for anything that resembles a MLM but I am very intrigued by this company. I really like that I did not have to invest any money upfront and there aren’t any seemingly deceiving promises or products being sold. As long as everyone has the chance to make money, then it seems like a win-win but I’ll definitely keep my eyes open.

 

Until next time what PTC site are your currently using?

 

Show up and Expect

I have realized that the key to making money online and offline is all about showing up and expecting.ID-100215477

When I worked at my old job, I knew that I could expect a certain amount of money every 2 weeks.

Just like magic, there would be a paycheck on my desk every 1st and 15th and all I had to do was keep showing up to work.

Some days I worked really hard and other days, I floated through the day waiting for the clock to turn to 5pm.  No matter how much I worked, I could expect a certain amount of money every 2 weeks.

The point to this is, working on your side gigs can be the same way. Yes, you will have to put some work into them (maybe a lot in the beginning), but after you get the hang of things, you can expect to see a certain amount of money as frequently as you choose.  Showing up is going to look and feel very different than your daytime job. Showing up for your side gigs will probably feel a little uncomfortable at first because you are not used to them.

Showing up for your side gigs will be all about taking those necessary action steps to getting ahead. You may not feel like you are making progress at first but trust me when I say, every step you take will get you one step closer to your goal.

The first two months of working for myself were hard as hell. I had the expecting thing down but not the showing up part. I finally got my ass up and said, “Ain’t nobody got time for your laziness, get the hell up and do work!” Well, I didn’t say those exact words but you get the gist.

If I was going to start expecting a certain amount of money to start rolling in, then I had to show up and set up those income streams. I had to show up to my home desk every morning and every night. I had to get my health right so that I could have the energy it would take to run a business.

I have a long way to go but as long as I am showing up and expecting, I know that I am well on my way.

 

Image courtesy of stockimages / FreeDigitalPhotos.net

 

Why I Will Make $10,000 a Month Online by the End of THIS Year

I started this blog to document my journey to making a living from my online earnings. Yes, I know it’s done befo

re andI’m sure you’ve probably heard of this guy but it’s time for me to get my piece of the pie. I have been trying to make money online since last year and I have had some small wins and a lot of losses. I even quit my job back

20s

in February because I knew I was going to make it. And even though I haven’t made it by any means, I know that it will happen. Although I have several offline side gigs to support me (more on that later), I have yet to figure out the perfect money making technique that’s going to help me to produce the type of success I am looking for.

 

My goal is to figure out what it’s going to take to money online and then I will share my learnings with anyone who’s interested. I also started this blog as a way to keep myself accountable for my actions. I

am a hardworking girl who loves to hustle but when it comes to this mystical online world, I get a bit dazed and confused. I am determined to make this shit happen and I want the same for those around me. I have set a pretty steep goal for myself and that is to make $10,000 a month by the end of the year all online. The income will be a mixture of passive and non-passive income but the goal is for it to equal to $10,000.

Right now I am averaging about $500 a month with no real plan in place and it takes me a lot of misguided work to get to that number. I want to be able to easily make $10,000 a month without selling my soul or my body – that’s it.

I will be posting my monthly income which, will also include money from all of my other side gigs. I would love to introduce my readers to other ways to make money online and offline. Right now I am pretty much supporting myself by working for myself. I clean homes, babysit, am a caregiver, jewelry seller, and an Ebay seller. I hustle hard but I really love it.

I want to help other people out there to find ways to make some extra money on the side. How nice would it be to make an extra $500 a month to go towards that disney trip or money for a new wardrobe (I want a new wardrobe). In my opinion, there is nothing wrong with wanting more. I believe that’s why we are here: to enjoy ourselves as much as possible and help other people do the same damn thing.

 

Anyways, that’s enough for today. I am currently working on a $100 a day challenge and need to get back to that. Stay tuned!