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Make money by saving into high interest bank accounts

By matt On September 19, 2010No Comments

With the worldwide economy still struggling to get back on its feet, the buzz word going around the moment is security of your money.  People are less likely to be ready to fork over their hard earned cash when everything is still looking a little bit uncertain.  If you are sitting on a pile of money and wondering what to do with it in the short term until the outlook is more certain have you considered depositing it into a high interest bank account?  One of the best places to earn the higher interest rates is with the Australian banks, such as nab or ING.  Their online savings accounts could see you earn over 5% on your money which is not a bad return considering what is going on with the world.

Of course many would argue that now is the best time to buy shares in blue stock companies while they are priced lower and enjoy the capital growth as the market regains confidence and certainty.  This is true.  However not everyone is willing to take on the extra risk, and perhaps you just want to keep your money save until you are sure of what you want to do with it.

It is also a great idea to save your money into a high interest bank account while you are saving for large items such as a car or house deposit.  It allows you to generate a steady (but small) return on your deposit while still having instant access to it when you are ready to make a purchase.

I know several people who had their house deposits and life savings tucked away in a high risk managed fund, ready to use it when they decided to buy their first house.  Here in Australia, with the government grants that were available, they needed to sell down their managed funds quickly when the market had collapsed in order to access their cash if they wanted to take opportunity of the extra government handout.  The best advice is plan for the future and diversify.  High risk managed funds are good if you can take the bad years with the good years.  If you need certainty with your returns then cash is a safer option.

All in all, plan how much money you need to save and make in order to achieve your goals and stick to them.  If you consistently save money into a high interest bank account then you will be able to make money on your money with interest and this will compound and compound the longer you leave it there.  If your plan is to save and leave your cash in a bank account for several years then I would recommend you seek financial advice as you will be able to get better returns (with more risk) in other avenues than cash.

Recent Posts

Make money online… Well, do you want to?

By matt On February 19, 2009 No Comments

Make Money online. Well, do you want to?  Here are some things to consider before you start this exciting and sometimes frustrating journey!

1. How much time do you have to spend on starting this new source of income? Before you even dream about making money online, you need to sort this out. Time is one of the biggest factors that will impact upon your success. Now, don’t jump to conclusions and panic that you are going to have to dedicate 40 hours+ per week on this, I mean, your here aren’t you to do the opposite of that. Chances are, like most internet marketers, you’ve been through the hard years of a daily grind and you want out! SO, remember this, QUALITY is better of quantity. Manage your time well and you are going to have a much higher chance of achieving your dream of making money online.

2. Become passionate about succeeding. Keep your motivation high. Making money online doesn’t come easy and it won’t happen without some hard work, so make sure you keep positive and make sure you keep your motivation levels high. Remind yourself of the reasons you want to make money online and this will help you to stay focused on the goal.

3. Have realistic expectations. Your not going to become a millionaire in the next week. If the internet was that easy to make money on then everyone would be an instant millionaire. Don’t be sucked into the hype of scams and programs that have excessive claims without any work. It is truly possible to make a serious amount of money online however this is never possible without a lot of hard work, some street smarts and time. All the websites that have outrageous claims are making money from poor suckers (hopefully not you!) who are wanting to make a quick buck without any work. Don’t be fooled. They are the only ones making money!

4. Be ready to experiment. There is hardly anyone that I’ve heard of on the internet who is making a serious amount of money online and hasn’t failed at some point along the line. Be prepared to step out of your comfort zone and try something different. If it doesn’t work, then learn from it and adjust to make sure it does the next time. If you aren’t prepared to try new techniques or experiment then you might as well give up now and keep working those 50+ hours at the job you hate for an income that is way under what your worth!

5. Do your homework. Would you buy a house on a whim? Or buy a car without taking it for a test drive? Or without doing your homework to see if its a good make and what the history is like with it? Make sure you do your homework before you sign up to any program. Those extra few hours / days of asking others their opinion, hearing what people say and what you generally find on the internet will make the difference to falling into a scam or not. BUT, remember that most people will try to sell you on their program, so don’t be too gullible. Look up the company though and see if they are real and if they offer a money back guarantee.

6. How do you want to make money online? What do you want to do? Determine how you are going to make money online. Are you going to fill out questionaries, surveys, advertise other people’s products, or something else? Maybe you have a fantastic product that your going to sell and it will change how people think about something. This is ultimately up to you and you need to determine what your good at and what you have the time for. Most of the programs that require lots of hours of your work such as surveys won’t have as much of an upfront investment, however you will need to put in the time along the way, where as some programs will have a larger up front cost but a higher return. Once you know what you want to do, then put all your energy into it, and make sure it works!

Remember, never give up on your dream, and on why you want to make money online. In the early days I was often criticized for wanting to make money online and it was from those closest to me, my friends and family. These people took some convincing and when I started showing the signs of actually getting a return from my work, they wanted to get involved as well. Its still an area that a lot of people don’t understand all that well and because of the negative press of scams and the like, it can have a bad name. So remember, don’t let any negativity push you down. Rise above it and stay positive.

Now go out there and starting making money online!


How long does it take to make money online from blogging?

By matt On February 15, 2009 1 Comment

A few people have asked me this question lately. They want to make money online, and very quickly. Whatever their reasons for needing some extra cash, to be honest it is very difficult to make money online from blogging overnight. For me it has taken a couple of years to get where I am now, and that is through a process of long hours, lots of hard work and research.

If you really want to make money online quickly, then you will probably be up for disappointment. There are not many people that actually make money really quickly, unless they have a tremendous amount of good luck or stumble upon something that no one else has thought of. If you can do that, then hats off to you, but if your like the rest of the 99% of people who just want to make a bit of extra money and want to do it online, then bite your lip and put the work in. Like any business, its very difficult to make money really quickly without any work, research or investment.

So I guess I just want to encourage you. It is indeed very possible to make a large amount of money online, however in order to do so, be prepared for some hard times first. Good things will come to those that wait, are patient and are dedicated. All the best with the journey!  Now go and do some work, you want to make mone online don’t you!


Ways to Make Money Online - Suggestions

By matt On February 10, 2009 3 Comments

The thought of making money online is at the forefront of many people in this world.  The benefits of earning an income online are huge.  Lets talk about those benefits now.

Benefit One: The ability to make a large amount of income, on a regular basis, which can be either a full time job, or a passive business that keeps earning while you sleep.

Benefit Two: The personal freedom that this income and the way it is derived allows, such as more time to spend with family, travel or pursue other interests.

Gone are the days when people need to sit beyond a desk, shuffling papers at a job they don’t enjoy or one that hardly pays the bills.  Sick of earning a measly wage?  The internet makes it possible to make money online via writing articles on your blog.  Maybe you only want a part time income, or a full time income, either way the internet offers a source of money which can either supplement your regular income or become your full time income and so much more.

So, how can you make money online?  You’ve probably done a search on Google for ways to make money online, and there are lots that are listed online.  Below I’ve tried to put together a useful list of different options to get you started.  By all means, this is not a complete list which will be updated over time.  Treat it more as work in progress.  There are more options than those just listed below on how to make money online so be sure to experiment as you think about these ideas further.

1.  Create a Blog or Website to make a Profit.

This is a very popular method of making money online.  Creating a blog that earns you money by showing Google Ads, or other ads as well of course, and / or selling products and services.  In a nutshell, you need to have great content, plenty of traffic and this can take some time to setup, depending on how popular the area your focusing on is.

2.  Affiliate Marketing.

Affiliate marketing is starting to become a massive way to make money online.  Basically what you do is promote a specific product or service for someone else, and earn a commission whenever it is sold from your website or unique affiliate link.  It covers many different topics so you can be sure to find something you are interested in selling.  Such an example could be education.  This is a powerful area where people are willing to pay money for information that is readily accessible, high quality and will be cost effective to download.  Or perhaps you refer your visitors to your site to a brand of phone or internet hosting.  The options are endless.  But this is a fantastic way to make money online.

3.  Start your own online business

Is there a particular area that your currently working in, such as a bricks and mortar business?  Have you thought about taking your existing business onto the web?  If your business is making money outside of the web, and your selling a product or a service, why not increase your profits and offer a web service solution as well.  Perhaps your selling a product(s).  Why not set up an online store so your customers can order online as well?  IF your brand is well known and you have a fantastic product, streamlined ordering process, this can be a great way to make money online. Remember however that its not just a matter of setting up a little website and leaving it at that.  You need to still do marketing, hire some technical consultants to make sure everything is setup for you properly, such as security of the ordering process and making sure that the search engines can find your website!  Do some searching around on the web. There are whole sites dedicated to this topic which can provide you with lots of detailed information.

4.  Domain names and trading of domain names

I personally haven’t really experimented much with this area, but I know there are a lot of people who are creative in the way they come up with new domain names.  They then register all of these domains, let them sit there with a basic Google adsense page, waiting for the traffic to build up, and when they know they are getting a lot of traffic to it, simply because of the domain name, they then sell it to a company that wants to use the domain for their website.  This is also know as ’site flipping’, and if done properly has the potential to earn you a handsome sum of money, as long as you know how to build an attractive and profitable website.

5.   Get-Paid-to Websites

Do you ever get those emails which advertise paid surveys and the likes of trial subscriptions?  There are websites out there that do want to hear from consumers, and if you have plenty of time on your hands, you might as well get involved to earn some extra money online.  In particular are those websites that offer affiliate programs.  These are great as they often allow you to earn a recurring commission.  If your not interested in creating your own website, and learning all about marketing and the internet, then get paid to websites are best suited to you.  Just avoid the get paid to scams, which aren’t legitimate and are only stealing your personal information and time.  Scam.com is a forum where members share info on the real scams, and those programs that do actually allow you to make money online.

Other options for get paid to websites can be social media sites, such as dailymotion.com.  This site allows you to submit your own unique videos.  If its a popular video, then you will earn money each time it is viewed.  Look it up for more info as these programs constantly change.

6.  Get a Virtual Job

Have you ever thought about offering your services as a freelance contractor, working from home?  There are plenty of people using the internet to make money online, by advertising their services as anything from a virtual assistant, to a graphic designer or even a freelance writer for someone’s blog!  This arrangement can provide many people with an improved lifestyle choice as they are able to work from the comfort of their own home, at hours that suit them and any travel / commuting time is removed.  Also, for a lot of mums in particular, they are working as a personal assistant (also referred to as virtual assistants) from home and it means they don’t have to pay to have their children in child care.  Thanks to the internet, email and VOIP, the possibilities are endless, and most bosses just want their work done, and don’t care when.  Also, you can organise to work for several different companies on contracts / part time agreements and then ensure your not relying on the one company or employer for your income.  This is especially good in this current economic envirnoment given that people are losing their jobs left right and centre!

    7.  Sell your own Product

    There are so many products that you can create to sell online and make money.  These include such things as website templates, video tutorials, ebooks on  specialised areas and even personalised items such as business cards, birthday cards or desk calendars.  There are also plenty of sites that allow you to sell your own photography, art work, or writing.  Remember, if you have your own product or products, the best way to make money online is to work it in conjunction with your own online business / website.  If you sell your product via the many websites available, you can utilise their larger audience and already established websites, however you will need to pay them a commission, so sell it yourself and keep all of the profits!

    Well, I hope that starts the creative juices flowing.  If you can think of other ways to make money online that I haven’t mentioned here, then share them with everyone in the comments.   All the best!


    Is it really possible for me to make money online?

    By matt On February 8, 2009 1 Comment

    This is a question that I often get asked.  “Am I kidding myself to think that I can make money online as well?”  or “I don’t believe it is possible to make money online because there are too many people already doing it!”

    Let me get this straight.  It is possible to make money online!  The factor that changes is how much you can make, and what are you going to do to make money online.  Are you going to create and manage a blog, or do you have a software design for the next web browser?  Or perhaps you design t-shirts and you want to create an online store…?  There are thousands of ways to make money online.  This type of business is so similar to a normal brick and mortar business, in the sense if you already have a product, there is no reason why you can’t sell it online.  You can make money online by selling your products online!  Of course you need to have a fantastic product.

    If you are serious about making money online then you need to really set out a detailed plan of how you are going to do this.  When I created this blog, I reasearched for a few months on how I would go about setting it up.  Everything from where I will host it, what design I will use, how often I could post and what would I try and achieve.  I wanted a place that I could share my experiences and knowledge with others, so that more and more people would know how to make money online. More and more people these days are starting little websites with a fantastic, unique product and are making a lot of money online by selling these products, direct from their homes.  Their overhead costs are reduced and they get to work from home as well.  The ability to earn and income and make money online has really changed the way that peop


    Why you should make money online

    By matt On February 5, 2009 No Comments

    One of the great things about having a system that allows you to make money online is that it is working for you 24 hours a day, 7 days a week.  While you are sleeping, eating, working, exercising, on holidays, whatever your doing, if you have a system that makes money online for you, the income will continue to flow in.  What could be better than this from a business?  However you make money online, having a system that is passive and works for you non-stop is one of the best ways to financial freedom.

    As for me, I make money online through various sources.  These include this blog, and other sites where I sell affiliate products, my own products and advertising.  There are many ways to make money online.  You need to be creative, investigate the options and make sure you put in the research, work and investment.

    When you are able to make money online while you sleep you will be able to have an income stream that will change your life.  Imagine the possibilities of not having to worry how you will pay for that next bill, or go on a holiday.  Or be able to pay off your parent’s house for them as a gift.  The internet is a powerful tool for those that are ready to grasp the opportunity to make money online.