The Passive Dad » Extra Income Ideas

Earning Extra Money: Think Out Of The Box

Scott — Thu, 24 Feb 2011 20:37:27 +0000

Earning extra money is possible, though it can take some creative methods to make it work. If you are in need of a few extra dollars a day or perhaps you need to earn a significant amount per month, the following ideas can help you to get started. Keep in mind that to earn extra money, you do not always have to invest a great deal of time in a new job.

• Consider working from home. Numerous small businesses start right from the home. If you have any skill or passion, make it a business to earn extra money.

• Sell your knowledge through an eBook or through online tutorials. Charge others to view that information to help meet their needs. Clickbank is a great place to start getting ideas and to even find some money making ebooks. In the past month I’ve really started looking at profitable niche ebooks and have set-up a domain that redirects traffic to one ebook. The goal is to start another passive income source that will grow over time. Need a couple ideas? Here is one ebook that I have had a little success with over the last month. It’s a Squidoo lens that I created for the woodworking niche.

• Take on a part time job working in consulting. Those who have years of work experience can work as a consultant for competitors. For example, if you work as an engineer in your full time job, help small businesses by consulting on their needs. I was able to consult part-time for one of the banks I used to work for. They needed someone who knew the software and was able to work late at night processing files. Perfect job as I was able to work and not have to deal with a commute or get dressed up for work.

• Build residual income by developing a software product, an iPod or iPad application or other electronic tools. Then, sell them to those who need them and want to use them. You will do the work just one time but will earn income over time. A great example of this is found over at Pat Flynn’s site. Pat has built a successful company that specializes in iphone apps.

• Find a work at home job. You do not always have to start a business to work from home. Numerous companies pay individuals to do customer service through telecommuting. Some ideas for work at home jobs are VA: virtual assistants, blog writers, and article writers. Check sites like elance for writing and VA jobs. Also check blog job boards like Problogger for full-time writers. I have used elance for writing assignments both here on Passive Dad and on my other niche websites.

To earn extra money for your needs, consider what you are good at. Then, find a way to turn those skills or that knowledge into an income for yourself. Often, you can do this right over the web, which allows you to work from home. Earning extra money like this can be a full time income or a part time opportunity. What are you doing for extra income?

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The 4-Hour Workweek by Tim Ferris

Jessie — Wed, 25 Aug 2010 07:37:42 +0000

‘The 4-Hour Work Week’ is a rather idealistic sounding kinda book. OK definitely idealistic. But before you palm off this book as another one of those obscurely written, theory-based books that seeps out investment-speak- give it a chance! While it may not guarantee six-day weekends, it will deliver ideas and guidance to reducing the workload and gaining maximum finance by thinking and acting smarter.

The book is an inspiring study of time management, business, wealth, goal making, advertising and ‘lifestyle design’, a phrase coined by the author himself.

What stood out to me was that ‘The 4-Hour Work week’ is the real deal. While a lot of financial advice and self-help books maintain a good story, they often offer little more than just that. Ferriss focuses on the nature of happiness and defines it through its antonym, boredom.

His book is an uplifting philosophy deconstructing many principles that thwart the reaches of our successes. Interestingly, something I had never considered before was a concept that is prevalent in much of his work: Fear. An insightful point Ferriss makes is that fear is usually disguised as optimism – we justify our mundane careers with the hopes that things will improve, yet this is most likely a result of our innate fears to act or to alter our lifestyles. Ferriss describes this fear as a ‘losing’ outlook. Plans need to be executed. We spend far too much time on matters of insignificance yet procrastinate the really important things because they seem tiresome and tedious. This particular point rang true to me.

I found the ‘time management’ chapter particularly important. Ferriss applied the Pareto principle, that is, that we should eliminate 20% of the small factors that are wasting 80% of the time. He introduces the idea of automation, describing at length the various methods of creating and sustaining successful automatic sources of income.

What I love about this book is that Ferriss almost accidentally encourages the reader to step outside of their microcosmic world and to swallow the fear and conquer a new system, prioritizing tasks and minimizing the distractions that hinder short-term goals.

‘The 4-Hour Work Week’ gave me many business ideas that capitalize on our modern, technological lives. He tells of his positive experiences in hiring a virtual assistant for $4 an hour in India and how useful this has been in multiplying his effectiveness. I cannot wait to try this and until now wasn’t even aware of such things!

While I began this book with eye-rolls and skepticism, it opened my eyes to many opportunities. While it is impossible to properly condense the intricacies of his book into a short summary, this book is loaded with possibilities that are ready to be entertained. This book is effective, as it does not attach itself to a marketing agenda; instead, lifestyle shaping is at the very heart of this book.

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7 Ways to Earn Extra Cash

Traci K. — Fri, 20 Aug 2010 15:00:21 +0000

We’ve all been there. Sometimes you just need extra cash in a hurry. Maybe you have a present you forgot to buy, it’s Christmas time, you need more groceries before your next pay check next week, or there’s a new gadget you just want now. There are a number of things you can do to get cash pretty quickly.

Craigslist: Most of us are familiar with Craigslist by now, whether we’ve listed something, bought something or looked for free stuff. If you have something to sell, put it on Craigslist. Not everything goes, but a lot of stuff does. Especially if it’s a popular gadget at the time. Best of all, it’s cash in hand.
Amazon and Ebay: Listing things to sell on Amazon and Ebay can be great! (Textbooks at back to school time do well, also.) You do need to have your payment stuff set up before you start for no delays, and it can take more time than selling to someone local for you to receive payment. It’s still a great option for short term extra cash needs.
Do an odd job: You can always try to mow extra lawns, do yard work, baby sit, house clean, dog walk, plant sit or help someone move. You can ask your neighbors, put out flyers or advertisements, ask around at church and ask people you know. It won’t make you rich, but you can make $20-$50 pretty quickly in a weekend.
Donate Plasma: If you aren’t afraid of needles, you can make $30-$50 a week by donating plasma 1-2 times per week. There are regulations on what will disqualify you from being eligible to donate and how often you can donate. DonatingPlasma.org gives more information on the process along with a list of plasma banks in the U.S.
Medical Procedures: Other options for relatively quick cash in a rather unusual way can include volunteering for a clinical trial, donating eggs or donating sperm. While donating sperm is a rigorous screening process with minimal risk, donating eggs is a very intense and potentially risky process that has a very high pay. Clinical trials vary in terms of potential risk and subsequent pay. All of these options can take several months to complete or get any type of compensation.
Sell your Hair: There are a number of places online that you can sell your hair if you have a minimum of 10” of hair length and your hair is not bleached or overly chemically treated. Some women who have sold their hair (unbleached, not dyed, not processed, non-smokers) of 34” in length for almost $3,000! That is a lot of money for some healthy hair.
Street Performer: This won’t make you rich by any means, but if you have any type of talent (musical, comedy, miming) and you aren’t shy try performing in the street for tips. If can be a great way to have fun for an afternoon- and might lead to a gig or two. Be sure to check for any applicable laws that might indicate you need a permit or any other legal paperwork.

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What to do When You Get a Layoff Notification

Traci K. — Mon, 02 Aug 2010 15:00:02 +0000

When you become unemployed, or realize unemployment is immanent, the natural tendency is to freak out. However, there are a number of things you can do and plan for to help ease this transition and keep money coming in. These tips aren’t a miracle cure, but they’ll help you get more money coming in and help you stay afloat while you search for the elusive dry land of full time employment.

File for Unemployment: If you’ve just received a notice of impending unemployment, this will need to wait until you are actually unemployed. If you were just laid off today, call your unemployment commission local office to find out when to come in to file. Note: My husband and I filed online when we got laid off, which caused far more problems than anticipated. If you’re in NC I might suggest going to the office instead, even if it’s more of a hassle.
Start Looking for a New Job Now: You’ll eventually need a new job anyway. If you are lucky enough to have time between your date of notification and last date of employment, look for jobs now while you can be picky. Also, look for acceptable part-time jobs or even freelance jobs. Most unemployment commissions encourage you to get part-time or pick-up work to reduce dependence on unemployment. Besides, if you’re working part-time you’ll be able to keep your unemployment benefits longer (typically) while you look for a decent full-time job.
Check Into Health Insurance: You might be eligible for Cobra, but you’ll need to find out how much the premiums are. They can sometimes be outside of your budget! If that’s the case, start talking to your local Department of Social Services about what the income requirements are for Medicare and Medicaid options.
Redo your Budget: If you know you’re getting laid off, now is the time to redo your budget and take stock of your financial inventory. If you’ve already been laid off with no advance notice, this is even more important. Now is the time to put your $50 gym membership on hold, change to the lower Netflix plan, and look at any excess spending. Trim it down as much as you can. Your local state unemployment website may be able to give you a weekly estimate of how much you should get when you file if you aren’t sure. Also, check with your Social Services department for food stamp requirements or assistance with utilities and rent if you find your budget is scary low or you’re not going to be able to meet some of your expenses.
Pay Up: It can take 2-8 weeks to get your first unemployment check depending on if there are any issues with your claim once filed. For example, if you got severance pay or an extra full week of vacation it can impact your eligibility date. My husband and I got a two month heads up of our impending unemployment. So, I budgeted from our last several paychecks to pay our car insurance, internet, and utility bill average for 3 months all at once. I also put our gym membership on hold and paid the next month’s rent early. We also used our very last paycheck to stock up on groceries (bulk meat into the freezer, pantry stable items and paper good staples- we only spent about $150 on the stocking but it lasted for 1-2 months).This really saved us financially as we both had delays of 4-6 weeks getting our unemployment payments.

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Become the CEO in your pyjamas!

Jessie — Mon, 26 Jul 2010 12:09:49 +0000

To many, working from home has become an ideal… Something that can potentially materialise but is extremely difficult in an age of buying into dead-end businesses and pyramid-schemes. While home-businesses will continue to have a level of risk involved, I have listed below three of the best, tried-and-tested home business ideas for optimal success.

Become a buyer and seller – import products from a competitive wholesaler and enjoy the profits. Browse the Internet and don’t rule out international wholesalers out of fear of postage. Most products that are made overseas are less expensive and the Government provides support for international trade, making it easy to ship products globally. Something like this will really test your organisational skills and it is important to keep on top of the bookwork and profits being earned. It is however, something that can be done from home (in those unsightly yet so-comfortable slippers) depending upon the product you choose to sell. It is important to research and know the market niche for greatest marketing potential and overall business survival.
Capitalise on your own skills. Find something you love doing or something you are really good at and try your hand setting up shop whether it be handmade art, craft or design on Etsy (www.etsy.com), getting rid of unwanted goods vis-à-vis Ebay (flea-bay?). If you have a natural flair for photography, set up a studio in your own home or if you love animals, advertise pet photography! Become a dog walker. Mind children after school. Do the shopping for aged neighbours. Become a cake decorator. Love music? Think about Disc Jockeying. Sign up with a data entry company and transcribe documents from home. Become a website designer. Teach a community cooking class. All it takes is a little creativity and you’re well on your way to opportunities, benefits and fun.
Get online – There are countless opportunities online to get some cashola in your pocket. Don’t be deterred by the scam-like ‘work from home’ ideas, dig deeper and you will find there’s lots of money to made in data entry, blog writing, Ebay selling, marketing, article writing, market research, proof-reading and so much more. Websites such as Freelancer (www.freelancer.com) promote these classifieds and this kind of work allows for artistic licence in contributing to online communities, as well as the freedom to work your own hours, around an already-established home schedule.

Don’t be lured into get-rich-quick schemes. Establish yourself by finding your niche using the rich resources afforded by the Internet…. and remember, you only ever get out what you put in!

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How I Receive Free Nike Shoes By Playing Tennis

Scott — Wed, 18 Feb 2009 11:00:53 +0000

photo credit: Graffiti By Numbers

How do I earn free Nike shoes by playing tennis? No, I’m not a ranked tour tennis professional or even a club player. I’m actually a weekend hack that has found a way to cover the cost of shoes while playing tennis. I received an email from a reader of TPD and basically thanked me for my articles and found them interesting. But they had an issue with how practical it is for an average person to invest in passive income opportunities such as real estate or dividend paying stocks. We exchanged emails and this family doesn’t have a lot of money to invest in stocks or purchase an investment condo as they are barely making ends meet. The reader went on to say that they could use a little extra money to pay for baseball cleats for a child’s little league program. I wanted to address her question about finding a source of extra income to cover baseball cleats and maybe a few extra dollars for pants and a uniform. The reader also shared that she was an ebay seller and has sold used clothing, books, and dvds in the past.

This was going to be a fun challenge because I wanted to address this readers question and also share how I have found a way to receive free Nike tennis shoes for the last 3 years. So, how do I earn free tennis shoes? I’ve shared before that I love playing tennis and enjoy the physical exercise it provides as well as being a frugal sport. When I play tennis I often times would find used tennis balls left on the court. One day when I was listing an item on ebay to sell and decided to do an ebay search for used tennis balls. I don’t know if you’ve ever searched for something out of the ordinary on ebay, but it can really be fun. Try it next time you’re on ebay. Any given day you will find 20 or more auctions for used tennis balls and they can range from 18 to 48 cents each. Yes, buyers actually will spend up to 48 cents per tennis ball. Amazing, considering that a can of 3 can cost $2.50 or 83 cents a ball. I’ve sold tennis balls as far away as Alaska. I don’t know the buyer, but I envisioned a group of sled dogs playing with the tennis balls.

I play tennis twice a week on average and in the summer I can get out as many as 4 times. On average I’ll find about 3 used tennis balls each time I play. Look for them under bushes, under tables, benches and under trees. You’d be surprised how many people leave behind tennis balls after they are done playing. Collect them and you could be on your way to a free pair of tennis shoes or some extra cash. You don’t even need to be a tennis player. Next time you’re at a park or see a tennis court, get out a look around for green gold.

For a free pair of tennis shoes I need to collect 200 tennis balls. If I average 3 used tennis balls it would take 67 tennis outings to collect 200. You can also visit different public tennis courts in your city to try and find more tennis balls too.

Once I have collected 200 used tennis balls I would create two separate ebay listings a week apart. Once the auctions close, I have about $42 left after ebay and paypal fees to cover the cost of my tennis shoes. The tennis shoes I’ve purchased the last two years are pretty basic and are the Nike city court shoes for $39.99. Yes, these are basic frugal tennis shoes. I purchase them from Sports Authority and I’ll show you how I save even more money later on.

Sports Authority has a website as well were you can purchase shoes and tennis gear that can be shipped to your house. Currently, they have a special if you spend $99 you’ll receive free shipping. Sports Authority always runs ads in the Sunday paper where you can find coupons for $10 and even $25 off your purchase. I use the $10 off a purchase of $50 or more frequently for my Nike tennis shoes and a case of Penn titanium tennis balls. The Nike tennis shoes are $39.99 and a case of Penn Titanium balls run $19.99 for a total of $59.98. With the $10 off coupon the total cost is only $49.98.

In this example you wouldn’t have to buy tennis shoes but could just keep the money in your paypal account and earn interest or use the money to pay monthly bills. I’m sure you have a $42 bill that you would love to have paid. This isn’t technically passive income because you are spending time and resources looking for the tennis balls. Even though it only takes a few minutes a day to look for used tennis balls, it still isn’t considered a source of passive income or residual income. If the used tennis balls appeared magically at your home, that would be passive. This is a creative way to earn extra money and can be fun to get your entire family involved in finding the green gold.

Let’s have some fun and figure out how many tennis balls you would need to make $100. At 25 cents each you would need to find 400 used tennis balls. You could also get lucky and have someone use the buy it now feature and pay up to 48 cents a ball making it necessary to old find 210 balls. Might sound impossible to collect 400 if you don’t play tennis, but next time you go to the park ask your kids to help you find Easter eggs. Look for fuzzy green Eater eggs and you can turn them into green gold.

What are some creative ways you are earning extra money? Do you have a hobby that pays for itself?

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The Passive Dad » Extra Income Ideas

Earning Extra Money: Think Out Of The Box

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