Did you know that your grandparents were making just as much money as you in the 70’s? It may not seem like it but apparently it is true. A new study reveals that wage growth for the average U.S. citizen has been stagnant since 1970. We work more hours and for less money than our parents and grandparents did. How is this so when previous generations never made $30,000 or $40,000 dollars per year?
The goal for most people is to one day become a millionaire. Becoming a millionaire is not as difficult as you think. You just need to acquire a net worth of $1 million dollars. This means that the value of all of your assets together minus your liabilities should be equal to $1 million dollars.
Here are 5 steps that will put you on the road to becoming a millionaire.
I figured today that I would write about how I make money online since I don’t often discuss this. I started the blog because I am often asked by people what my opinion is on XYZ Company. I figured that this blog is a good way to give insights to my views on investing. Surprisingly, after a few months I discovered that you can make extra income by blogging. Although I still make the bulk of my money through my financial consulting business, blogging has contributed to my income. So, I thought that I would share some of the ways in which I make money online.
1. Blogging jobs
Starting my blog has led to a number of different blogging jobs. These blogging jobs contribute a consistent income stream for me. I have been able to earn extra income by writing for other sites. When I first started I was earning about $250 a month. Now I earn at least $1,500 a month writing for other sites.
2. Advertisements
Selling ad space has generated hundreds of dollars a month in consistent revenue. During the good months, I can make $1,200 a month selling adspace. During slower months, I may only make $400 to $500 a month in ad income.
3. Google Adsense
I started with Google Adsense about 18 months ago. Adsense bought in $100 – $150 initially. I have recently been trying out Adbrite the last few months to see if the payouts are better. If they don’t meet my old Google Adsense revenue payouts then I will switch back.
4. Affiliate sales
Sites like Commission Junction and Flex Offers pay money for every new customer from your site. You get paid any time a customer completes an offer or purchases a product. Affiliate marketing is still pretty slow for my site. I make about $30 a month from these efforts.
5. Paid Posts and Referrals
Blog forums and groups are a great way of getting referrals to companies that offer payments for posts and reviews. I always post on my site if I have received any compensation for a post. So far paid posts and referrals have generated an average of $165 the last 2 months.
6. Miscellaneous Income
Sites like Ehow pay residual income for old how to posts. These posts took about 5 to 10 minutes and were written years ago. This adds up to $10 to $20 a month.
My long term goal is to generate $10,000 a month in online income.
It takes patience but you can make money blogging. Initially you may feel like you are writing post after post with little viewership. Don’t pay attention to how many readers your have, just keep posting good content!
For more on how you can make blogging income, check out 20′s Money Guide To Building Online Income.
Photo by: Gustty
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