Five dollars a day doesn't sound like much if you want to make money online. It can buy a cheap fast food meal or maybe a fancy gourmet coffee every morning. However, if you multiply $5.00 by 30 days that is $150 a month in extra income, maybe enough to pay a few bills.
If you were to earn multiple income streams of $5.00 a day you would have a decent amount of income coming in each and every month. And the best part is, by having multiple income streams you don't have to worry if one of them stop earning.
Concentrate on your interests. There are several ways to earn money online that wont cost you a penny while others, such as niche blogging will cost very little. By writing about your interests for sites such eHow, selling affiliate products on Squidoo or creating niche blogs and monetizing them you can build up multiple income streams over time. check the resource section below for more information on niche blogging and freelance writing on sites such as eHow.
Find a mentor. Check out forums on places such as eHow and Wahm.com and after a while you will get an idea who the successful earners are. Chances are they have a blog with plenty of followers.
Educate yourself. See if your mentor offers an e-book or course available that maps out what they are doing. You can also find mentors who will offer free information on their blogs. Check the resource section for more information.
Stay in your comfort zone-sort of. I know that many will disagree but if you join something that makes you uncomfortable then you are setting yourself up for failure. For example, if you are uncomfortable at the prospect of cold calling then sales wouldn't be for you. However, once you do find something that you enjoy then you will be more willing to step out of your comfort zone.
Set attainable goals. Start with one project that is proven to earn money and stay with it until you consistently earn five dollars a day. Once you are consistently earning five dollars a day move on to another project.
Keep older projects updated. You may have several niche blogs each earning $5.00 a day but you still need to update them. While most of your attention is going to be on your current projects you want to schedule a little time each week maintaining your past projects.
Don't give up. Residual income takes time to build. For example, if you write for eHow you may start by earning a pennies a day. However, as you keep writing and build a nice library of how-to articles you may find that after a while those pennies start turning into dollars.
Tips & Warnings
- Don't get discouraged. Potpie Girl likes to say: 'if you are willing to do for a year what others wont, you can do for a lifetime what others can't'.
- Avoid negative people. If you want to create wealth online then don't let the energy zappers bring you down. The sad truth is that most folks will never create wealth online or even make five dollars a day. They are the ones who usually don't have a mentor and are unwilling educate themselves.
- Photo Credit Kativ, istockphoto.com
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