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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
By matt On February 5, 2009
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You may wonder why I keep writing about how to make money online on my blog…Well, incase you didn’t realise, this blog is focused on the topic. How many times have you stopped to think of ways that you can make some extra money. Perhaps you have thought about selling some old junk lying around the house, or even wondered about taking up an extra job. But how many times did you think about the internet and if you can make money online?
Our world is becoming increasingly more dependent on the web for our daily lives. A significant proportion of the global population has access to the online world in some form or another. This is the perfect ground to establish yourself and grasp the opportunities to make money online. In my opinion, I think blogging is one of the best ways to make money online, but there are also countless other options such as selling products online, offering services, producing content that people can purchase etc etc. Blogging doesn’t just have to be writing, it can also be video clips. Never before has the ability to make money online been so powerful. With more and more people losing their jobs, they are turning to the internet for solutions, ready to take the next step to earn an income online. Before the dream of making money online was perhaps only a distant fantasy, where with the right direction, knowledge, passion and determination can become a reaility.
If you haven’t already done so, subscribe to my blog and get regular updates on new articles on the topic of how to make money online.
By matt On February 2, 2009
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In my opinion, one of the best ways to make money online is to blog. If you are passionate and interested in a specific topic that other people are also interested in, then this is a perfect opportunity to turn your passion and interest into a money making machine. I do have to be totally upfront and honest here however. You will not be able to make money online immediately. Well, unless you have a significant amount of good luck and skill. However, with regular posting, providing excellent content, your ability to make money online will improve. At first you need to focus on the basics and I’ve covered this in other areas of the blog already, but once you have a loyal readership base, with a steady stream of online faster than you can spend it.
So blogging is a great way to make money online, but remember it does take a lot of hard work. Be prepared to spend hours writing articles, and for your traffic to be measely at first for the first few months, or even a year or two. But there are plenty of sites and also posts on this blog which take you through the steps of a creating great blog via which will allow you to make money online. Follow these, talk about the topic you love and take it from there. Its hard work, but the rewards to make money online outweigh the effort you will put in at the start.
By matt On January 29, 2009
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Lists are a great way to get some ideas out there easily, and are good for other blogs linking to as its straight to the point. You will also find that the search engines can pick them up a bit easier for keywords.
7 ways to make money online:
1. Sell your old household items such as clothing, CDs and toys on ebay.
2. Start a blog on a niche topic that your knowlegable in, generate fantastic content, rank on the search engines and display ads on your site. You will make money from ad revenue.
3. Setup an ecommerce website and sell your own products on the site.
4. Sell affiliate products, such as e-books, or study at home finance course such as Wealth masters international.
5. Setup your blog with valuable content and allow your readers to make donations via the PayPal donation option. This has also been called “Buy me a Beer” or “Buy me a coffee” and has seen a positive response on another site of mine as well as many other bloggers.
6. Through your website offer your services to people looking for something that you specialise in. This could be anything from making wedding invitations, to designing a website. As a freelancer, you can make a considerable income and enjoy the benefits of working from home.
7. Become an author for other blogs. Some of the larger sites, such as lifehacker.com have only grown that big because they have several people offering content on a very regular basis. As a regular author you will receive an agreed upon dollar amount per post or by hits, depending on the agreement. This can be a great way to make money online, and you don’t have the worry of creating your own site and managing that. Of course you do need to offer really great content and do this on a regular basis.
So there it is, 7 ways to make money online. Now I don’t expect you to go and do each option as that would be too much diversification, well at least starting out! Maybe one or two stand out to you and you feel it is something up your alley way. There are plenty of other ways to make money online and I’d love to hear from you in the comments area if you have a particular tip that isn’t mentioned and has worked well for you.
By matt On January 28, 2009
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Once you build up your internet business you will need to know what to do with all of the money that you have made online! Here are 5 simple yet effective ideas that you can use to manage your money better and make sure that it continues to come in from your online income streams.
Lets assume that your earning an extra $100 a week to start off with.
1. Pay off all of your debts.
With an extra $100 a week, I would put that towards any high interest credit card debt. As that gets paid off you will pay much less interest and its enough to see some noticable differences over a couple of months. Aim to get any other debt paid off as well if you get your credit card cleared.
2. Save all of your money into a high interest cash account.
A $100 dollars per week really isn’t enough to live off, however if you can diligently put $100 away into a high interest bank account, such as those offered by ING, then you save away $5200 over 12 months. This doesn’t include interest. This could be a great little emergency fund for that day when your car needs urgent repairs, or use it for something that is rewarding such as a holiday away.
3. Invest it back into your website.
This may seem a bit counterintuitive, however if you are low on debts and you already have some savings, you could look at using it invest back into your website. Maybe you could get a custom designed website, or improve your hosting. If you have products to sell, now could be the time to start advertising on Google if you aren’t already. This is great so you can continue to make even more money online!
You may also want to hire another blogger for your site, or start a new site. Get more content on there and more relevance to search engine results for your niche.
4. Relax and enjoy your earnings.
Depending on your financial needs, you may be able to splurge a little bit. Chances are you have worked hard to get your site to $100 a week. Good on you. Now you can relax a bit and enjoy it. So treat yourself a little. Don’t go overboard and remember why you wanted to earn that extra money in the first place. If it was to pay off debt, then refer to step 1!
5. Invest it into a product that you can sell.
This one won’t be for everyone, but perhaps you have a product idea that you want to invest in. Save up your money and use this to get a prototype built, or do some market research to find if it will be profitable. There are plenty of ways to make money online, and some of the best are around selling your own products. There are several companies which you can outsource the design and development to if you don’t have the expertise. Just make sure they can’t steal your idea!
Obviously if your earning more per week/month then you have more options you can use it for.
For instance, if your earning $500 a week, then you could almost start to think about doing the blogging option full time. Or you could use it to seriously make a dent in your house mortgage. Especially at the moment, when interest rates are lower across the globe, the more principal you can pay off your mortgage the better off you will be down the track when the economy begins to stablise.
If your business online is making a significant amount of money each week then I would also recommend you seek independant tax advice from your accountant, as depending on where you live your tax obligations will vary. If you are earning $500 a week however, be encouraged, because with a it of tweaking, you are well on your way to turning that $2000 per month website into a $10,000 per month cash cow! I would start to look at getting your website fully customised if it isn’t already, you could even start to sell advertising spaces for a decent monthly fee and outsource a few extra authors to start on other popular blog topics or help you add more content to your own site.
Once you are earning $1000+ a week, then it really is up to you. For me, personally, when I got to this stage, I worked on my site alongside my normal job for 2 months to ensure the income would continue before quitting to work from home. This worked well for me because I knew that I needed to continue to make money online in order to be financially secure. The two months gave me enough time to tweak it and ensure that the income payments continued to increase. Its also a good idea to diversify and have a few sites setup, incase one has a drop in traffic for instance.
Suggestions like paying off debt are even easier when your earning more money online. If you get this side of life covered off reasonably easy then your options for your money are enourmous, anything from helping family members out, investing in new or existing companies, putting money away for the future, supporting charity organisations and having a bit of fun in the process, such as a new car or overseas holidays. Making money online really can be a life changing experience, so its certainly worthwhile investing the time and energy into making it work for you!
By matt On January 27, 2009
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Blogging is one of the best ways to make money online today. A blogging website is simply one that allows you, the author to share your opinion on any topic you want, and allow your readers to comment on it if you so wish. Take my site, www.make-money-online-guaranteed.com. This is a blog. This is also a blog that makes money online!
There are different types of blogs. There are those that are purely aimed at social writing. These ones can be great, however they tend not to make as much money as the blogs that are more focused on search engine rankings, and where you are selling a product. If you seriously want to make money online, and not just a small amount, then you need to write your blog so that it has useful content on it, but more importantly that it directs the reader to buy a product. A lot of people believe that you will only make money if you have a loyal subscriber list. While this certainly is great, and you need to provide valuable content, the truth is that selling products is where the real and big money is at. Unless of course your driving hundreds of thousands of people to your site each month can you make a large amount of money from advertising, but in this case I would advice to sell your or affiliate products even more, as you have such a large audience to offer your product to. You then get the best of both worlds. Selling your product and also offering Google adsense ads to give you a secondary income stream!
Its important not to write your blog as a long sales letter. No one wants to read that. Offer content that is useful and valuable. If people actually like your writings, then they will be more likely to look into the products that your recommending as well. I only ever as a matter of principal recommend products that I have tried and tested. You should do the same thing. Reputation is big on the internet. If your offering a bad product, then word will spread around sooner than you can open another bottle of chi3!
The final step of course is to make sure you have a great ranking with the search engines. This takes time to build up, but the more content that is relevant to your site, the more back links you have and the length of time your site has been up will all contribute to your sites popularity in the search engines. Get all of these right and it really is possible to make money online!
