how can I earn $20 a month passive income

[Orange]

Hey, I am starting this small goal of earning an extra $20 a month passivly. I want to be doing this in two months. I will comment back and tell you all how I did this. But first, can anyone recomend to me how can I make an extra $20 a month passive. I have a website but it alreaddy has ads. I need the income to be consistant so nothing that you just make so much and you cant be sure how much it is.. this has to be somthing sure. Any recomendations? It can be online or offline... Any kind of ideas for sytems I can set up and take a percentage... any ideas? Thanks. Gary.

[Brutha]

Why don't you ask:
How can I provide value for other people?

That question is much more effective than focusing on the money.

[MattFYF]

I agree with Brutha. It's much easier to focus on brainstorming ways to provide $20 of extra value to another person, or people. Once you figure out how to do that, you can find a medium for your work and set up your passive income stream.

For example, you may like to blog about... pet rocks. You're just crazy about those pet rocks! One way you could provide $20 of value to people is making an informational site about how to take care of pet rocks, with a donations link under every article you write. If people find it worthy of donating at least $20/month to you, you've provided enough value to reach your goal.

[Orange]

Originally Posted by MattFYF

I agree with Brutha. It's much easier to focus on brainstorming ways to provide $20 of extra value to another person, or people. Once you figure out how to do that, you can find a medium for your work and set up your passive income stream.

For example, you may like to blog about... pet rocks. You're just crazy about those pet rocks! One way you could provide $20 of value to people is making an informational site about how to take care of pet rocks, with a donations link under every article you write. If people find it worthy of donating at least $20/month to you, you've provided enough value to reach your goal.

Yeah, i know its all to do with value, but im looking for sugestions on how i can get that value out there in a way that i will get $20 a month back for sure.

[Lucas]

Originally Posted by Orange

Yeah, i know its all to do with value, but im looking for sugestions on how i can get that value out there in a way that i will get $20 a month back for sure.

Nothing is for sure.

However, what can you provide to me or other people, or a group of people that in return we will give you $20 a month, or 20 people will give you $1 each month for?

The thing is, no one is going to tell you exactly what to do really, because it's different for everyone. Not only that, if you want to be told exactly what to do, you might as well get a job, eh?

My suggestion then is to look at the social, cultural, hobby groups you belong and see what you can provide to them. Help people and they will help you.

[goldtoe360]

Wamu has a traditional CD with a duration of 48-120 months at an interest of 4.89% and 5% APR.

If you have an initial deposit of $5,000 at a 48 month term you will have an ending balance of $6,077. That translates into about $22 per month guaranteed.

Ref:
Interest Calculator

[Orange]

Originally Posted by Lucas

Nothing is for sure.

However, what can you provide to me or other people, or a group of people that in return we will give you $20 a month, or 20 people will give you $1 each month for?

The thing is, no one is going to tell you exactly what to do really, because it's different for everyone. Not only that, if you want to be told exactly what to do, you might as well get a job, eh?

My suggestion then is to look at the social, cultural, hobby groups you belong and see what you can provide to them. Help people and they will help you.

yeah totaly agree but this is like.. somthing like.. a site I found that pays me $10 a month to put a banner on my site nomatter how many visitors I get.. that kind of thing..
but yeah you have made me think.. that it was kinda stupid to ask this question
Thanks

[beautyscientist]

You might have got closer working on your Cornwall website instead of posting on here. There is nothing wrong with that as an idea. But your ideas won't work if you don't.

[ghfever]

The best way to make monetize a website is by focusing on it's quality FIRST. Post great quality posts, <begin> traffic, <end> $20 passive income.

[codefreeze]

I agree with the other posters - the question is how can you create $20 a month of value?

I would say have a look at where your interests lie, and then see what you can do to try and help other people with the same interest.

[beautyscientist]

Just so this thread doesn't get too negative, its great that you already have a website. You have already got started which is a lot further than most people get with their projects. If you keep at it with your website there are only two possible outcomes - you will either make it a success or you will learn why it wasn't a success. Either way you'll be a lot better off than you are now.

[Orange]

Originally Posted by beautyscientist

Just so this thread doesn't get too negative, its great that you already have a website. You have already got started which is a lot further than most people get with their projects. If you keep at it with your website there are only two possible outcomes - you will either make it a success or you will learn why it wasn't a success. Either way you'll be a lot better off than you are now.

yeah, that is a good point. I have been out alot lately but tomorrow I will have a full day. my problem with my website is that I like making it but Its not the perfect thing for me to be doing. Do you think Its better to finish what you are doing so you can learn more from it even thoughits not the best thing you could be doing or start somthing you like more.. Im thinking I should finish this site because I do enoy it its not like its work to me, and then go on to making a site i like more when I raise enough money through this site to make a really good one.

[Lucas]

Originally Posted by Orange

yeah, that is a good point. I have been out alot lately but tomorrow I will have a full day. my problem with my website is that I like making it but Its not the perfect thing for me to be doing. Do you think Its better to finish what you are doing so you can learn more from it even thoughits not the best thing you could be doing or start somthing you like more.. Im thinking I should finish this site because I do enoy it its not like its work to me, and then go on to making a site i like more when I raise enough money through this site to make a really good one.

Well if you totally run dry or don't like it, it makes sense to stop, but put all you can into it.

[shin]

With few exceptions, the amount of money you receive will be the amount of value you provide. Focus on creating something that nobody else has, that people will have no choice but to keep visiting your site and reading what you write.

[ladybug]

Originally Posted by Orange

Yeah, i know its all to do with value, but im looking for sugestions on how i can get that value out there in a way that i will get $20 a month back for sure.

If you are looking for working at something to make you $20 a month "for sure", work for someone else. If you are looking to provide value to someone in exchange for money you may not make $20 for sure, but you may make $20, $50 or $100 for sure, or even nothing. That is for you to find out.

[mercuryrising]

I don't really 'know' anything about passive income (all mine is active). The jist of it that I get is you do X once and get paid Y multiply times. Anything I can think of what X could be is a form of creating something. That 'something', whether it is an article, a song, a film, a piece of furniture or multi-national corporation or whatever is really a system. What an entrepreneur is is the creator of systems: money generators.

I don't know that it matters whether it is $20 or $2000, it's the same deal.

Just my .02 (look at that: you just made two cents )

[Curtis2011]

Originally Posted by Orange

Yeah, i know its all to do with value, but im looking for sugestions on how i can get that value out there in a way that i will get $20 a month back for sure.

You could find something that somebody wants that could be formatted into an eBook, then YOU make the eBook and set it up for sale.

If you are selling what people already want, all you need to do is put it in front of them and they will buy.

[allen080105]

Originally Posted by Orange

yeah totaly agree but this is like.. somthing like.. a site I found that pays me $10 a month to put a banner on my site nomatter how many visitors I get.. that kind of thing..
but yeah you have made me think.. that it was kinda stupid to ask this question
Thanks

I actually had that situation happen... a few times including the one I have now

So far with the sites I've built I've usually just waited for advertisers to come to me, but I probably should start taking a more proactive approach cuz waiting always takes longer than I'd like.

I would say keep going with your website. It'll happen if you keep the site active by putting out quality content and getting it in people's hands. The more you do both of those things the faster it should happen.

People are telling you to focus on contributing value because the more value you get in people's hands the more traffic you'll generate. The more traffic your site brings in, the easier it is to monetize and receive the consistent income you're looking for.

[Manomanman]

Originally Posted by Orange

Hey, I am starting this small goal of earning an extra $20 a month passivly. I want to be doing this in two months. I will comment back and tell you all how I did this. But first, can anyone recomend to me how can I make an extra $20 a month passive. I have a website but it alreaddy has ads. I need the income to be consistant so nothing that you just make so much and you cant be sure how much it is.. this has to be somthing sure. Any recomendations? It can be online or offline... Any kind of ideas for sytems I can set up and take a percentage... any ideas? Thanks. Gary.

Niche marketing.

[aelle]

Is there a specific reason why you're looking to generate passive income? In 2 months, it'd take you a lot less effort to make 20$ through direct work. If you have value to provide, you can charge way more than 20$ for an hour of your work, and then work your way up. Hell, I charged 20$ an hour for maths tutoring as a college student, and never had to chase clients.

[persephonevii]

Well, I've made about 50-80 dollars a month playing the poker tourneys in my town. Get in the top three and you win some pretty nice money prizes. Never made first though, that's where the big money is in tourneys. I just practice and read up a lot on the subject, plus my bf mentors me as well

But that's if you're interested and play poker much.

[Curtis2011]

Originally Posted by aelle

Is there a specific reason why you're looking to generate passive income? In 2 months, it'd take you a lot less effort to make 20$ through direct work. If you have value to provide, you can charge way more than 20$ for an hour of your work, and then work your way up. Hell, I charged 20$ an hour for maths tutoring as a college student, and never had to chase clients.

I think the point is that he wants to create what could be called an appreciating asset that throws off money.

If you can build an asset that makes $20 every month, chances are you can either expand that to make $40/month, or simply go make another one that makes $20 more per month.

Expand it enough, and eventually a few years from now you may wake up and be at the $5000 per month level, and never have to work for a boss again.

[martinogg]

I read a previous post about interest rates: now theres a sure fire bet to get a consistent income.

In UK, regardless of how badly the economy is doing, banks still give out guaranteed interest rate accounts, whether its a 1 year fixed bond or a monthly saver.

A couple of banks I know do 6% (before tax) on the first £2500, paid monthly. This is a 1 year introductory rate. You have pay in £1000 a month to get this interest rate.
What you can do is keep the account as close to £2500 as possible. Every month the interest is paid (about £13) and have a standing order for £1000 which goes in. Then transfer out £1013 to make it back to £2500 and wait another month.

Bank of Scotland also pay £5 each month to you for having an account with them (which you pay in at least £1000 a month into)

So it would be possible to perpetually switch £1000 between each account in order to achieve this, but really you would want to earn at least £1000 from a job and add that in.

So there's about £18 a month guaranteed (for a year)

[Manomanman]

Originally Posted by Curtis2011

I think the point is that he wants to create what could be called an appreciating asset that throws off money.

If you can build an asset that makes $20 every month, chances are you can either expand that to make $40/month, or simply go make another one that makes $20 more per month.

Expand it enough, and eventually a few years from now you may wake up and be at the $5000 per month level, and never have to work for a boss again.

Slow and steady wins the rat race

[mypcandi]

GIVE People What they need (Value)= Get $20 or even more...
Example: ebook, quality content...

[aelle]

Originally Posted by Curtis2011

I think the point is that he wants to create what could be called an appreciating asset that throws off money.

If you can build an asset that makes $20 every month, chances are you can either expand that to make $40/month, or simply go make another one that makes $20 more per month.

Expand it enough, and eventually a few years from now you may wake up and be at the $5000 per month level, and never have to work for a boss again.

Alright, yes, I understand the advantage of passive income in general. Given the constraints the OP brought up, however (make 20$ a month within the next 2 months, preferably through their website) it will take massive effort. If they spent the same amount of time on creating direct income, they could make a nice chunk of money within the next 2 months (say, working 50 hours a week, charging 20$ an hour?) Then you can either help youself to 20$ a month in that chunk, or let it fructify in a savings account as suggested.
I love the idea of passive income, but direct income is much more efficient, especially in the short term.

[Curtis2011]

Originally Posted by aelle

I love the idea of passive income, but direct income is much more efficient, especially in the short term.

I think the whole idea of building passive income is that it brings success in the long term.

As another SBI'er said in our forums, "nobody wants to work today and get paid later" - even if getting paid later means getting paid much, much more.

Anybody can go work at a job for $10 an hour for 100 hours and make $1000.

But it takes a lot more determination to work for $0 an hour for 100 hours to go create the beginning of a business that could make you $100's per hour a few years from now.

The points you are making are all valid. And if someone needs money in the short term, like if they need to pay off credit card debt or something like that, by all means go and get a job and work your ass off until you are out of debt.

But if you are just chillin out for several hours a day being bored and thinking about what the future may bring... Why not make it bring you some nice passive income?

[Requiem]

If you invest $3600 into a stock that pays $240 in dividends each year (that's a 6.67% yield), you'll receive an average of $20 per month that year. In addition, if you pick a company that has a track record of increasing dividends each year, then the payout each year will increase as long as the company is doing well, and when that happens, the share price will also likely increase, so in the long run, you could get more than $20/month with the initial investment. For example, if you get $240 in dividends this year, but the company grows its dividend payout by 10%/year for the next 10 years, then 10 years from now if you're still holding the investment, then you'll be receiving over $622/year (over $50/month). There are of course risks so you should be familiar with the company that you invest in.

Alternatively, you could purchase a much smaller amount (perhaps $1500-$2000), and sell covered-calls (options) on that stock which if you pick the right company will give you a better rate of return than dividends. Again, to reduce risk you should make sure you are familiar with the company.

[sirkinm]

It's very easy to create 20 dollars worth of value without ever actually making 20 actual dollars So let me give you some practical advice:

Here's an easy way to get $20/month: Go to eHow and write a bunch of articles. I make about $40 a month from approx 25 articles I'd written on eHow. In fact, the amount I make seems to climb a bit every month.

I haven't written an eHow article in a long time -- it's no longer an effective use of my time. Still, once a month I see that my Paypal account is topped off with an extra 40 bucks.

It may take you several months to attain $20. However, it may happen really fast if you pump out a BUNCH of articles. I used to do special tricks (think SEO) to get my articles to rank high.

BTW, how many visitors do you get to your site? Maybe me or someone else would be interested in advertising on it.

[Cochonette]

I looked into writing articles for some websites like that, but they don't pay much. It would be like, $1 per 1000 viewers and only if you give your copyright away to them. I was like, I will probably get about 500 visitors per article at most. So I said forget it and moved on. Waste of time for me.

I like the idea of doing something for $1 and twenty people. Though it's unusual for anyone to use PayPal for $1 since that's a huge leap of effort for just $1 on the part of the payer, if they don't already have PayPal.