Monday, November 8, 2010

Building Passive Income Streams - Anyone Can Do It

People often ask me if all I do is sell on eBay. No. I have many other income streams. eBay is just one of them. The key to making money with multiple streams of income is persistence, time, and commitment. For example, here is my history on eHow - an article writing site.

I started writing for eHow back in June 2007. I didn't even know the site paid its writers. I was just writing articles about how to do stuff on eBay. In January of 2008, money started showing up in my Paypal account. I have submitted 316 articles to eHow since September 2007. The last article I submitted was in February 2010. (I stopped submitting articles when the system changed and it became more time consuming to write there.) Click here to see my profile. My articles have had over 1 million views in the last 3 years and I am now making about $35 a day and haven't submitted anything in over 8 months. I now make enough money from this income stream to pay my mortgage.


Here are screen shots of how my earnings have grown over 3 years:

2008

2009

2010

Why am I telling you this? BECAUSE ANYONE CAN DO IT. All you have to do is start and make a commitment to keep building these income streams from now on. It only takes minutes a day. But you have to do it every day.

eHow is only one of my streams of income. In addition to eHow and eBay I make money from these things:

Selling books on Amazon
Google Ads on my blogs
Affiliate marketing
Writing for the Examiner

It just takes discipline, commitment, and the understanding that rewards will come later - delayed gratification. Here are some tips on where and how to get started building passive income streams.

Start a blog to promote your eBay store.

Start a blog about anything you want and monetize it.

Sign up for Swagbucks.
(Here are my gift card rewards for this year - so you can see it really works! I have redeemed 28 $50 Amazon gift cards this year so far for a total of $1,400. You can use the gift card balance immediately or let them accumulate. I will be doing all of my Christmas shopping on Amazon this year with money that Swagbucks paid me.)


Submit articles to Constant Content.

START NOW - DON'T WAIT. Six months from now you can be seeing income from these sources.

6 comments:

  1. Mama Melly BNovember 8, 2010 at 5:23 AM

    I am encouraged by your post today. I just started submitting articles to a few places such as Triond, Bukisa, and Bright Hub(upfront pay and residual income at this one).

    Although it has only been 9 weeks and I have 75 articles on Bukisa, I am still only sitting at about .10 a day but know that as time goes on, I add more articles, and I promote my articles more that the money will go up.

    I would love to be able to pay my mortgage with this income in a few years. That is my goal.

    I missed out on ehow which is too bad since I have heard it was one of the best places for building up a passive income. I have tried out numerous other sites as well, but only like the ones I have listed above.

    Keep up the good work! Multiple streams of income is definitely where it is at. And it also keeps you from getting bored by allowing you to do a variety of things.

    Thanks again for a good read.

    ReplyDelete
  2. Kathryn LewisNovember 9, 2010 at 3:39 AM

    Thanks again for some great information. I have a questions about Swagbucks. It seems they only reward 1 of my many searches a day, not all of them. How do you manage to get so many points?

    ReplyDelete
  3. Suzanne A. WellsNovember 9, 2010 at 4:17 AM

    @kathryn - here is what I do:

    http://www.ehow.com/how_5163434_earn-swagbucks-redeem-prizes.html

    Good luck!

    ReplyDelete
  4. centsformomNovember 9, 2010 at 9:01 AM

    I missed out on ehow as well. What are the best writing sites now that would be close to ehow? I have been reading your blog for years and love all the great information you give out. Thanks.

    ReplyDelete
  5. saraNovember 9, 2010 at 3:58 PM

    So, I can no longer join ehow?

    ReplyDelete
  6. MaribellNovember 9, 2010 at 4:27 PM

    "I missed out on ehow"

    Is it meant, by the above statement, that one can no longer earn money on ehow?

    Is ehow not paying their writers or accepting new writers any more?

    I'm also curious as to what the best writing sites would be that are similar to ehow.

    Thanks Suzanne.

    ReplyDelete