Make money with passive income

I am sure you must have heard the term ‘passive income’ referred to in many financial magazines and papers, or on business reports on the telly. But what is the definition of passive income, and how to make money with passive income?

 


What is passive income

Think of a singer or song writer.  A singer and the writer of a song can have one or a couple of big hits and score really high in the pop or country music charts.  But they temporarily loose inspiration and creativity and stop writing and singing for a while until they come up with another successful idea.  In the meantime, however, and for as long as that song is played for years and decades to come, that song writer and that singer will earn royalties from that music piece.  And the profit made by that song could potentially be passed to their heirs, depending on the record deal with their producers.

Passive income is exactly that.  You work hard on a project, and income is generated automatically from that project thereafter. 

The opposite of this way to make a revenue would be for you to work for an employer, where unless you physically go to work every day and work in your role, you will not get paid.  In some sales roles, in fact, you may only get paid a basic salary, where the biggest share of your salary is dependent on the number of sale deals you seal every month or quarter.  So if a month is a little on the slow side, no salary at all – or very reduced!!

Naturally not all ways to make an income from home that we have looked into so far will generate a passive income.  Generally speaking, freelance positions are deemed the prototype of active income.  You must be proactive in seeking job, and your work will often be paid through a commission scheme.

So, a photographer will first of all have to find a client that will hire his services as specialised in wedding photos, and will then get paid only on delivery of the picture snaps, and provided the newly wedded couple is happy with the outcome.

Likewise, a teacher offering private tuition will need to look for clients constantly.  A teacher will agree a pay rate which she will receive at the end of every teaching session rendered to the child.  Her or his earnings may not necessarily be affected by whether the child passes or fails their exams, but having a child passing a test with flying colour will be an added bonus for the teacher, who will promote her or his services with the added accolade.

 


How to get passive income from home

There are two ways to make money through passive income.  Some ventures require that you make a monetary investment, others require a time investments.  

What has to be clear is that with passive income ventures, you never make immediate money.  Nor the word ‘passive’ should lead to you to in to the false belief that it is an easy way to make money and does not require much elbow grease at all.

As mentioned in my other posts and pages, no matter which avenue you intend to explore as ways to make an income from home, you must always be prepared to work your socks off.  At the end of the day, you are trying to set up a business, your own self employed business, from scratch.  And it will take commitment and hard work for you to see the fruits of your hard labour.

Just as if you were employed by a big corporate magnate, or if you were on a commission based salary with a smaller family run company.

 


Ideas requiring a monetary investments

Ok, admittedly this type of passive income may not suit many of us, as we may be short of cash to start off  the business, or we may find it too risky to put our hard earned savings in a venture that may have a risk element attached to it.

Nevertheless, let me give you a few ideas:

  • Property investment – you could consider investing in purchasing a property, or a few properties, which you then may want to put on a rental market or you may want to refurbish and sell on for a profit.  A good way to invest in properties is to purchase at auction, where it is deemed that the sale price is reduced over figures open market.  Either way however, it is always good to do a good upfront research on the property you are having in mind, as there may be hidden costs from local authorities and for legal services involved.
  • Rent your garage – if you have a garage adjacent to your property, you could consider renting it on.  Again, you do not have to do much, other than ensuring the tenant is reliable enough to pay you on time, and you may want to put in place a basic tenancy agreement which may have legal value.  Unlike with properties, people tend to go for cash in hand payment solutions, but this arrangement may turn up risky for both landlord and tenant likewise.
  • Get a lodger – Or you could consider renting a room in your house if you are under-occupied and have a spare room that you no longer use.  Admittedly, this solution may require your daily input in preparing meals for your lodger, or in having to do housekeeping for the room.  But again, you can agree terms with your lodger by giving them access to the kitchen and by making them responsible for the housekeeping of their own room.
  • Invest in stock shares or trade in binary options – of all the solutions I have spoken about, possibly stock market is to me the riskier option.  But on the other hand, you do not need an investment of thousands of pounds or dollars, as you can join for as little as a few hundreds.

 


Ideas requiring a time investment

This option requires that you invest a lot of time to set up your venture before you see the results, but once you start monetising on your project, the results are outstanding.  And, because most ventures are website based, this is the kind of passive income that I prefer.  All I need is an internet connection, my laptop, and willingness to work hard at a project to start off with – no need for upfront financial investment.

So, what can we do with time investment?

  • Affiliate marketing – in a way this is my area of expertise.  As mentioned when outlining the basics of affiliate marketing, this method is particularly successful if you have a blogging or review based website, or an e-store.  And it may take a long time for your website to start bringing in revenue, but once the ball starts rolling and you start ranking higher and higher with SEOs, visitors are likely to use your website to make purchases without you having to contribute to your site as regularly any longer, as you would have built your reputation of credible reviewer in the niche you are working within.

  • Creating an app – if you are a guru and regular user of apps on your smart phone, you can easily relate to this concept, and surely you will have ideas of an app that will not yet have covered the demand of regular users such as yourself.  You can create an app with the help of a programmer, and then sell your app to any App store.  The passive income is determined in this case by royalties similar to the ones adopted in the musical world.
  • Produce music – this does not necessarily means that you may have to be ‘hired’ by a production company.  There are music storage companies, which will store your music to be used in commercials or on videos.  You will earn a passive income every time that your licensed music is played or used.
  • Selling photos – again, you will have to invest in time (not necessarily in a camera, as often smart phones nowadays take very high quality pictures) to create a portfolio of pictures.  You can then make your portfolio available to photo storage companies, such as Pixabay.com to mention one like many, and you will earn every time that somebody uses one of your pictures.
  • Create paid for training videos – there are several online platforms where you can published training videos in whichever subject you feel strong and passionate about.  Anybody can purchase your training over and over, and that is where the passive income is generated.  If you will, it is teaching taken to a wider distribution level.  Udemy.com is one of the many available marketplaces available online, and possibly the most diffused, and widely used by students worldwide.

 


Work harder for a more lucrative outcome

The suggestions I mention above do not want to be an exclusive list, as in fact there are myriads of business opportunities that you can translate in passive income.

No matter which type of passive income you intend to try out, the one thing you must be prepared for is to set out a solid basis.  And to do so you will need to put hard work in your project.

You must also be prepared initially and for a period of time not to see fruition from your project for a period of time.  And particularly when you try to establish yourself online and build your reputation as an honest and trustworthy brand, this will take time.  Then again, once you do, customers will be attracted to your portfolio of pictures, or to your website, and they will bring in income without any more of your initial effort.

It would be interesting to hear whether you have attempted any of the above avenues, or how you have made a success of your passive income based business.  Please do leave your comment below to share your experience.

AWin best affiliate network program in UK

In my discovery journey to find out new ways to make an income from home (or well established ways, but new to me), I have come across affiliate network programs and CPA based programs.  One of them, and in my opinion the best CPA affiliate network program in UK and Europe, is AWin.

 




Name:  AWin (formerly Affiliate Window)

Website:  awin.com

Price:  Initial deposit of £5 refundable

Owner:  Merge of Xanox and Affiliate Window

Rank:   85 out of 100

 


What is an affiliate network program

The likes of Amazon, or eBay or even Wealthy Affiliate are corporate companies big enough to be able to afford to run their own affiliate program.  Such companies will also prefer to manage their program in-house so that they can keep better track of selling or click trends.

However there are smaller companies, or big companies which do not want to branch into the self-management of their own affiliate programs, but want to benefit from being part of an affiliate program.  Affiliate programs, and we affiliate marketers, are an asset to such companies, as through our reviews do attract customers, who will generate sales and revenues to their business.  Just like a salesman, but with the added bonus for corporate advertising companies that we affiliate marketers are passionate for the niche we promote.

And that is where the concept of affiliate network comes in the game.  An affiliate network program will manage the affiliate program of different companies – which are referred to as advertisers – charging them a fee for the privilege.  What the affiliate network program does then is recruit an array of affiliate marketers like you and me – they call us publishers – so that we can apply to join a number of different affiliate programs from a wider range available on the network.

 


Why AWin?

AWin (formerly known as Affiliate Windows) is one of the best CPA – or Cost per Action – affiliate network programs in UK and Europe.

AWin is in other words, the European answer to American CJ (Commission Junction), offering a range of over 6,000 advertisers for affiliate marketers to choose from.

I have found a recent video published by AWin on YouTube, which explains how Affiliate Window has recently become AWin, and what its strengths are:

 

So, not only AWin is, dare I say, the most extensive platform of affiliate programs under one hat that UK and Europe has to offer, but it also offers the advantage of paying publishers on a CPA basis, depending on the agreement with its advertisers.

How this translate on most affiliate programs offered by AWin is that the publisher is not only paid if the visitor to their website ends up making a purchase, but for any other action the viewer takes on your website, whether that is a click on a banner or link, or form filling.  For each of these actions, the affiliate program you promote will pay you via AWin.

 


AWin is for all

Absolutely anyone with a website can join AWin.  Awin has as many as 6,000 advertisers, who use the network to promote their business. Registering with AWin as a publisher is easy enough.  You can then browse to check the many advertisers available on the program, which can meet the requirements of your niche.

To put it more visually clear to you, let me give you an example of how I landed on AWin.

As you may know, I have another website, where my aim is to share my love affair with Border Terriers  – just in the same way as I want to share my learning experience here of finding ways to make an income from home.  My canine website is a blog where I share and exchange information particularly related to Borders, but to other breeds too, and including breed related medical conditions.  In the process, I like to review products that I have been using for my border Indy.  If, for instance, I wanted to discuss the benefits of pet insurance, I would want to recommend an insurance that covered ailments on older dogs too.

On AWin I registered to advertise my intent with my blog website as an affiliate marketer, and then I started browsing for dog related businesses, whilst at the same time advertisers also started contacting me promoting what they had to offer me in terms of merchandise as well as commissions for my referrals that would fit with my canine niche.



The game could not be easier, as what I did at that point was select which programs I found more suitable to my niche, and joined the affiliate programs of those companies.  AWin has provided me with advertising tools, such as links and banners for me to use on my website when reviewing individual products and businesses.  And AWin pays my commission on a CPA basis, not the company whose merchandise or service I am reviewing.

 


Any costs involved?

Virtually not.  AWin charges an initial £5 deposit, which they then refund you along with the first payment they make you.  In other words, eventually joining as a publisher becomes free.

 


Advertising material and tools

For each advertising program you join within AWin, AWin will provide you an extensive array of banners in different sizes and interactive level.  But they will also provide you with unique links in HTMS or URL version, which will contain your unique publisher ID code.  Like with all affiliate programs, having your code showing on the links, or on the banner HTMLs, is important as it will be the determining tracking device for AWin and for you as publisher to keep records of your commissions and payments.

 


Why my rating

AWin is the first affiliate network I have ever joined, along with the American CJ (which I reserve to discuss at a later date).  And I still find AWin the best network I have worked with so far.

But there are a couple of negative issues that I struggled with, at least initially.

  • Layout and terminology – remember that when I first joined AWin, my sole experience of joining an affiliate program was with Amazon.  Coming from Amazon’s fairly straightforward online environment, I had to learn my way around the AWin platform, to find out where banners are, and to find out how to create URL or HTML link with my unique identifier.

On a positive, AWin have an absolutely brilliant support centre where, no matter how many tickets you raise, and however menial or futile the question may sound, is there to promptly answer you and to guide you through the motions step by step.

  • Payments – AWin is very good at making payments to you.  However they will not pay you until the advertising company you make referrals to have approved your commission and have paid your fee to AWin.  And a lot of advertisers have long payment terms.

Advertisers of retail merchandise will have shorter terms, as your commission will be approved as soon as a sales is confirmed.  However if you refer to financial services, such as pet insurance for instance, or to a membership entry, the advertiser will want to ensure that the person I am referring will remain in the scheme for a period of time.  Therefore their payment terms are much longer, before enabling AWin to pay you.

However each advertiser clearly states their repayment terms, leaving to you the choice as to whether to join them or not, not only based on the product they offer you to review, but also on their terms and conditions.

Against these two couple of issues, there are many positives to joining AWin.  To me, the main ones are:

  • All under one hut – what I mean by that is that you do not have to have so many different accounts spread all over the net with so many different advertisers.  Your account is with AWin, which means you do not have to disclose your personal information to many different providers, but only to AWin – data protection of your personal information is secured more tightly.
  • Low payment threshold – again, a most advantageous condition.  Whereas if you were an affiliate of individual programs, you would have to meet their different threshold for each advertiser, AWin has a very low threshold of £20 only, which you can easily reach through referring to a combination of programs rather to an individual one.

In other words, if I am publisher to Nike brand, and to Zooplus, and to Body Shop, I don’t have to wait till I have reached the £20 threshold of each of the three programs to get paid.  AWin will pay me as soon as I have reached that minimum threshold from a combination of referrals to the three different advertisers.

 


My verdict

So, all the above said, would I recommend AWin as a multiple affiliate program platform as one of the most effective ways to make an income from home?  Without a shadow of a doubt.

AWin is not only the biggest affiliate network program for UK and Europe, but is fast expanding in the States, where it has recently purchased ShareASale, and in South America and Brazil.  The potentials for you to meet a wider reach with your website and with your website, hence the possibilities to convert to sales with your reviews and to earn on referral commissions, are really high.

And the fact that AWin pays on low threshold from the combination of sales from different advertisers’ programs is an advantage that not many other networks offer, hence enabling you to have a regular source of income coming your way frequently enough.

Don’t wait a minute longer, if you have a website join AWin today!!!

 


Name:  AWin (formerly Affiliate Window)

Website:  awin.com

Price:  Initial deposit of £5 refundable

Owner:  Merge of Xanox and Affiliate Window

Rank:   85 out of 100



 

 

Is binary option trading safe?

I have held back from writing about binary options trading as one of the ways to earn an income at home until I found out more about it.  I have not chanced trading in binary options as yet, and that is why I needed to research more about this alternative way to earn working from home, but before talking to you more about it, my aim was to establish this: is binary options trading a good idea, and can you make money online by trading binary options?

 


What is binary options trading?

The name in itself gives it away.  Binary is referred to the fact that you are asked to choose on one of two options.  In the world of binary options you put a bet as to whether the value of certain assets, such as gold, or stocks or markets, will go up or down within a certain time frame.  If your prediction is correct, you will win the bet and will earn a pre-set commission.  However if you loose the bet, or rather your prediction is incorrect, you will loose the money you have invested in the bet.

Put in such terms, binary trading sounds no more no less than a pure and simple betting system – nothing brainy, more so made easier as the choice is only between one of two options, as opposed to the many chances put to you by a more sophisticated probability system.  But at the end of the day, it founds its concept on a gambling system, and as such may have no security attached to it when it comes to guaranteed earnings.  For this reason, many do not trust, or will even consider binary trading as a legit way of earning from home.

Have a look at a training video from IQ Options, one of the leading and most reputable brokerage platforms world wide:

 


Who can trade in binary options

Binary trading is done mostly online nowadays.  Therefore, provided you have a computer or laptop or even a tablet and a wi-fi connection, no matter where you are, you can trade in binary options.  Everybody is deemed suitable to trade.

However, you must have a minimum capital available to invest immediately.

Also, it is deemed that in order to be successful at trading in binary options, you must have done research on the ongoing trade in the value of the asset you are betting for.  So, if for instance you would like to predict which direction the value of gold is going to take within the next 24 hours, you may have done your research beforehand, also looking at recent political events in the main countries that produce and export gold and which may affect economic trends in those countries that import and resell gold for retail.  In other words, for you to become a successful binary options trader, you must have good nose for a hunch.


So, is binary options trading a scam?

Given the risky nature of this business, not many of us take lightly to such a way of earning.  In first instance, and unlike many other ways to earn whilst home based, this type of business requires an initial capital to invest.

You will be saying the same applies when you purchase stock to resell, or when you purchase a domain to build a website.  However the risk with binary options trading is seen as much higher as you do not handle physical goods, nor do you receive an immediate service in return for your investment.

However the ill reputation binary options trading has gained is due to the many fake broker companies readily available on the market.

 


What gives bad reputation to binary options trading

Unfortunately in the past binary trading was primarily available through broker companies that were not legit or did not pay commissions as per original agreement.  These companies were pure and utter scam – cowboys who chanced their luck on beginners to make themselves rich at the expenses of the many of us who were trying to invest their hard earned money for a chance of an extra income.

Thankfully the binary trading market has been regulated much more tightly all over the world in recent years.  Nowadays there are many reputable brokers out there, who not only offer you the opportunity to trade free of charge initially for you to get used to the system and to make yourself comfortable and learn how trading works. But many brokers these days also allow you to put your prediction with a reduced investment, unlike in the past where you could only trade, and risk to loose, higher amounts of money.

 


A couple of tricks up your sleeve, or three…

Now, I am no expert in this field at all.  In fact, as mentioned, I have always been sceptical about the whole affair, nor have I felt comfortable talking about binary options trading as a good way to earn from home until I have satisfied my doubts by researching.  And in the course of my research, I have come across a couple of tips or three from the expert as to how to make binary options trading less risky for you.

#1.  Do not bid more than you can afford

There is no denying that brokerage platforms are in the business to make a profit, not certainly to play even.  Another aspect of this business therefore is to bear in mind that, at the end of the day, you are dealing with a sales business where it will be in their interest to ‘encourage’ to place your bid for as high money as they can possibly squeeze from you.

Like in gambling, you must be absolutely level headed about binary options trading.  Never trade for more than you can afford.  In fact, best secret is always to go for less than for more.  Yes, admittedly by bidding for less you may miss out on the highest earnings.  But you will also miss out on the highest loss, should your prediction not be accurate on the day.

#2.  Play safe

Again, and as mentioned before, find a platform that will allow you to bid for little amounts of money.  Commissions on binary options platforms are really appealing, with winning in the region of 70-80% increase over your bet.  So, to put it plainly, if you started bidding for as little as a tenner and got your prediction right, you could see your winning nearly double up at as much as £17-18.  But remember that if you loose, you will loose a much higher percentage of 100%!  For this reason…

#3  Know when to stop!!!

It is vital that, like when gambling for fun in a casino, you know when it is a good time to stop.  So, if you are on a relatively healthy winning, just stop – do not chance your luck one too many times.  Or again, if you are really tempted, just keep bidding that one more time for a small figure.

A lot of brokers put a payout limit to your withdrawal of funds from the trading platform.  Try looking for a relatively high one, but never leave too much deposit on your platform’s account.  The more money you leave there, the more tempting it may be for you to keep bidding.  And also, it is your money at the end of the day, and by leaving it in the pockets of your broker, you will enable them to earn in interest rather than if your money sat in your bank account!!

#4.  Research, research, research

And this last tip is applicable yes, to current news of political and financial nature that could possibly have an impact on the value of the commodity you are about to bid on.  But it also apply to the platform you choose to use for your trading.  Try to go for what appears to be a reputable one.  Before you commit your money to them, however small a figure it may be, google reviews on that company and find as much information as possible about how reputable and reliable in their payments they are.

 


My verdict

Do not go for binary options trading if you do not feel absolutely comfortable with the idea of ‘gambling’ however little amount of money, whether that may be for ethical or religious believes, or simply due to financial hardship.

However, if you are ready to chance your luck, go for a platform that will allow you to be as cautious as you wish – for a platform where you are in control of the game, not them!

Truth be told, have I ever tried trading in binary options?  Never!  In fact, I have never traded in stock and shares markets either.  Would I ever do it?  Now I have come across IQ Options, yes I shall, given the fact that you can start trading for as small as £10!

I shall discuss the merits of IQ Options more in details in my separate review.  Rest to say that IQ Options is one of the reputable platforms I was referring to, giving you the options to trade in real time with no deposit, for you to familiarise with the system.  They use commodities with high commission percentage, therefore making your taking the risk on your deposit worthwhile.  Unfortunately they have a payout threshold of £1000, but this practice is not uncommon in financially related industries, and if you start making a substantial profit, and are prepared to bid higher figures, you can reach that payout fairly quickly.

 


Another chance for affiliate marketing

Admittedly, my field of expertise when it comes to making an income from home, is through affiliate marketing.  And that is the other reason why I like IQ Options.

If you believe IQ Options is a true way to make money online through binary options trading, and if you would like to give others the opportunity to earn as much as you have just done, click on the above banner and find out the high earning potentials through promoting IQ Options as the place to be when it comes to legit binary options trading!

 


I am sure there are many of you out there who have had a go at binary options trading and lost money, and many others who in fact are still trading successfully.  As I am still very much a newbie in the subject, I would like to find out more.  Please leave your comment below and let me know what you think of it.