- Personal Finance
Some Ways to Make Money
Hard Work and Persistence are Still the Best Way
The best way to make money quickly is to get a job working as an employee for another business.
A job offers a steady pay check (cash flow) as well as a chance to gain experience and, in many cases, make contacts which may be helpful in both future career advancement as an employee as well as for any future business you may start.
Assuming that you either have a full time job or can't take a full time job because of responsibilities at home, you have a home business or there is some other factor, such as a disability, which prevents you from going to work full time but need more money, here are some other ideas for increasing your income.
A part-time job, or second job if you already have a full time job, can provide you with a steady or extra stream of money (cash flow) to help you increase your income.
Full or part-time work from home for another company (this is also called telecommuting) is also an option in some cases. Here you are still working for someone else on a regular basis which gives you a steady income (steady cash flow) but it is from home and usually comes with more control over when you work.
Temporary work is another option, especially for people who need extra income periodically or who need income while looking for full time work.
Here again, you have a formal connection to another employer who provides pay as earned and, like full time and part-time work, takes care of income tax withholding and benefits (a small number of companies even provide part-time and temporary workers with some benefits beyond pay). Temporary work is no longer just clerical and labor positions (although these remain the majority of positions).
Employment is Good, But I Want My OWN Internet Business
All this is fine, you say, but I want to be on my own and make money with the Internet.
The Internet offers great possibilities but, for the vast majority of people, we are talking pocket change, not income to support yourself.
In the discussion above I kept putting the words cash flow in parenthesis next to income. The term cash flow refers to the rate or regularity of receiving cash.
Cash Flow Explained
If I have a credit card payment of $95 due the first of next month, it doesn't matter that I have $95 due from the Google Adsense program, $9 from Amazon referrals, and $22 from eBay referrals because I am below the minimum payout for each one of these programs for the current month.
Even if I do manage to generate enough during the remainder of this month to hit the minimum pay amount on each of those programs, they won't pay until the middle of next month or later which means that I won't have the funds needed to pay my $95 credit card bill on the first of next month when it is due..
While I may have accrued income (i.e., income earned but not yet received by me) in excess of my bill, my cash flow, or cash available on the first of next month will be zero.
Waiting to pay my credit card bill until after I receive the cash from my Internet activities will result in a late fee ranging from $25 - $35 being charged to my credit card by the bank.
If that late fee pushes me over my credit limit I will be charged an additional, over limit fee, ranging from $25 - $35 with the result that between 50% and 70% of my accrued $100 Google earnings will have to go to paying fees resulting from my lack of cash on hand to pay this bill on time.
Of course, I will still have the bill itself to pay in addition to the new fees that will be added to it. That is why cash flow is so important.
Start and Build an Internet Business Slowly in Your Spare Time
So, should you forget about the Internet? No, not if you enjoy working on the Internet and would like to have your own full or part-time business some day.
The point here is that the Internet is not a good place for beginners to earn serious money. Regular jobs are a much better use of your time in terms of earning serious money.
For most people, working on the Internet won't generate much more than pocket change to start with. It is not a solution to a financial problem – you will do much better, in terms of income, by seeking a promotion with your present full time employer or taking a second part time job.
However, if you are already working as many hours as you can in the formal job market, the Internet can provide the opportunity to earn small change in your spare time.
Explore and Try Internet Income Options in Your Spare Time
The Internet is 24/7 which means that, while you may not be able to earn money with a conventional job during the hour or two in the afternoon while your toddlers are taking their naps, you do have the opportunity to pick up a couple of bucks from the Internet.
What's more, by working and exploring different money making opportunities on the Internet, you will be acquiring skills and knowledge which could eventually lead to serious money making opportunities on the Internet.
The Internet is expanding rapidly and new opportunities are opening up every day. Its appetite for content keeps growing and shows no sign of slowing in the foreseeable future as evidenced by the fact that more and more sites are offering to share ad revenues with authors.
Not only that, but payouts are becoming more generous.
Two years ago (in 2004) I wrote my first book review for a site called Allreaders.com and received twenty-five cents for it. The site now pays $5.00 for each book or movie review it uses. (NOTE: the site, Allreaders.com and its companion Allwatchers.com, and my reviews on them, still exist. However, both stopped accepting new submissions about a year or two after this Hub was first published) .
Google Adsense and related Google income generating products such as search, promoting and signing up new Adsense participants, Firefox and Pisca downloads, etc. provide bloggers and website owners with new avenues for making money.
(NOTE: Google AdSense and AdSense for Search are still available, recruiting new AdSense customers, Firefox and Pisca users are no longer sources of income on the Internet however, new opportunities not available at the time this was first written are now available.)
For more ambitious and more experienced users the Internet offers free or low cost entry into retailing via outfits like eBay, Half.com, Amazon, Yahoo and others. Authors and artists who have little or no chance of publishing and promoting their work through conventional means are finding ways to publish and sell their books, CDs and other creative works via the Internet.
Internet Offers Opportunity to Make Money - But Making Money Still Requires Work
Opportunity abounds on the Internet and a few individuals can be expected to become very rich and successful while the majority have a chance to work their way up to a decent income.
However, let there be no mistake, making money on the Internet is neither a guaranty of riches nor even a fast way to riches. If you enjoy working on your own and learning new things while doing it, the Internet offers easy access and plenty of opportunities to explore.
In fact the only advantage that the Internet offers over other ways of making money is that it is easier to get into the business. Actually making the money still requires hard work and persistence.