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passiveincome71

Passive Income : filling in captchas

by passiveincome71 23rd June 2020

written by passiveincome71

Did you know that you can make money filling in captchas, yes you can. In this article we will give you som esample sites and give you our opinion on this revenue opportunity.

I personally hate captchas but can understand why they are required and also understand why people may want someone to fill these annoying things in for them. If you do not know what a captcha is then lets go.

A CAPTCHA is a type of challenge–response test used in computing to determine whether or not the user is human. You can get ones which are just some random text, some may have a multiple choice question, I have seen full english words and also choosing the pictures from a grid that match a requirement. Let’s say that you need to identify all of the images that have a car in them.

Here are some common of the common captcha types, you will have seen them when you have visited websites especially on a login form.

Cryptocurrency sites are full of these.

Requirements

You will need a computer or a smartphone with Internet access. Some sites may require you to take a simple course first
You may need an email account like a gmail one
You may need to setup an account with Paypal, Payza or via a Bitcoin exchange like Coinbase

Sites

First of all never pay for access to these sites – they are free. That is probably a scam.

There are no affiliate links – I wouldn’t even bother signing up to get a referral link

http://captchatypers.com/ – You can earn up to $2 per 1000 Captchas from CaptchaTypers. 1$ is the minimum amount for withdrawal. They pay 10% commission for referring people. It pays via Indian Bank, Neteller, Bitcoin, PerfectMoney, WebMoney and Vietnam Bank.

https://2captcha.com/ – You can earn 0.5 USD for 1-2 hours, depending on service load. 2Captcha pays up to 10% commission from whatever your referral earns. 2Captcha Pays via WebMoney, PerfectMoney, BitCoin, and AdvCash, teh minimum Payout is $0.50

https://kolotibablo.com/main/home – You can earn up to earnings per 1000 Captchas. Kolotibablo pays via WebMoney, OkPay, Payoneer and Bitcoin. The minimum Payout is $1

http://www.megatypers.com/ – Megatypers payment rates start from $0.45 TyperCredits for each 1000 word images typed, and can go as high as up to $1.5 TyperCredits for each 1000 words typed. They payout through Debit Cards, Bank Checks, Paypal WebMoney, Perfect Money, Payza and Western Union.

http://www.protypers.com/register – Protypers payment rates start from $0.45 TyperCredits for each 1000 word images typed, and can go as high as up to $1.5 TyperCredits for each 1000 words typed. They payout through Debit Cards, Bank Checks, Paypal WebMoney, Perfect Money, Payza and Western Union. This site looks eerily similar to the one above

Summary

I do not recommend this for earning passive income because in my opinion it is not one but I have seen it in some poorly written passive income ebooks.

Unless your desperate for cash i would not even recommend this for earning money unles syou are desperate as the payout rates for the amount of work is not good.

23rd June 2020 0 comment

Articles

Passive income : Amazon FBA

by passiveincome71 11th September 2019

written by passiveincome71

In this article lets take a look at Amazon Fulfilled by Amazon or Amazon FBA as you may commonly know it.

Dropship Automation Software & 180+ Pre-Integrated Dropship Suppliers. Create a Free Account Here: Inventory Source

If you haven’t heard of Amazon and that is possible then it is an absolutely enormous online retail site that sells hundreds of thousands of products in multiple countries around the world.

The FBA program is actually quite similar in many ways to dropshipping – it’s not exactly the same as we see later

The whole process can be simplified in the following steps:

1. You apply for the Amazon FBA program on their website.
2. If you are accepted, you ship your products to one of their fulfilment centers.
3. You list your products for sale in Amazon.
4. If someone buys your product, Amazon ships the product to the customer.

As you can see from the point where you are accepted into the program a lot of the work is done by Amazon (for a fee of course)

Amazon handles the sales and shipping process. Amazon will receive the orders, process the order, and ship the products. They are literally running the business for you. Your responsibility is to keep on sending your products to Amazon’s fulfilment centers before they run out of stock and adding any new items.

As you can see this is very similar to dropshipping where someone else ships the product to your customers, in fact it is possible that you can find a manufacturer that would actually make the products and send them to AMazon themselves but this would take a bit of a research to find a reputable company.

Unlike dropshipping if you have your own business you can of course go the wholesale route which can lead to bigger mark-ups as you can find products even cheaper, this would mena you would find a wholesaler, buy a bulk order of products and then send them to Amazon. You should also bear in my mind that Amazon has to physically have the product, you can’t have dropshipping listings.

Starting a business with Amazon FBA can be very complicated. You have to apply with the program and not everyone is accepted. You need to make sure that the products pass certain packaging and safety standards.

When using FBA there are various fees that you should know about: storage fees, fulfilment fees, and inventory placement fees. These are not fixed fees. They depend on the types of products you are sending them for storage. They will inform you about the amount of fees you are going to pay after finalizing your shipments. ALways factor these fees into your prices.

Every product you have must be individually packaged, correctly labelled, and ready to be sold. You need to follow the company’s product labelling requirements.

To ship your products to a fulfilment center you need to follow the full process which is detailed in Amazon FBA’s help section. You have to log into your Amazon FBA account, go to Manage Inventory and choose the Send and Replenish Inventory option. You have to completely and properly label your products before you ship them to Amazon’s fulfilment centers.

There a variety of products which are restricted on Amazon FBA – https://sellercentral.amazon.com/gp/help/external/200140860?language=en-US then navigate to https://sellercentral.amazon.com/gp/help/external/G201730840?language=en-US&ref=efph_G201730840_cont_200140860 . We have listed these at the bottom of this article for reference

There are also certain categories which you need to be approved for before you can sell products

The customer support is the responsibility of Amazon. This is one of the biggest advantages of the Amazon FBA program. Once you shipped your products to their fulfilment centers, the company will handle the rest. They will manage all customer inquiries, any refunds, and returns.

Amazon FBA costs

At the time of writing MAazon has teh following costs

Amazon offers two types of plans. The Professional Selling Plan costs $39.99 a month plus per item selling fees. The Individual Selling Plan is for sellers who only sells 40 items or less a month.

This plan doesn’t have a monthly fee. Instead, you pay a $0.99 fee for every item you sell.

Amazon FBA Tips

You need to do your research before you jump in with both feet. The competition in certain niches and with certain products is very high. So you need to research for products that have good demand but little competition.

Keep an eye on your stock levels – its your job to make sure that these are OK. If you run out of stock a customer will locate another business which can be costly.

Offer discounts on bulk purchases, if you have multiple products on sale offer deals from time to time

Always deal with reputable suppliers – nothing hurts your business than poor quality products and a highreturn rate. You need to do research.

Learn from your peers and competitors – What are they doing? What tools are they using? What strategies are they using?

Always use very good quality photos of your products and if possible depending on the products show multiple angles and views. Ugly and unprofessional product photos will put off many customers from buying.

Make sure your product listings are optimized with the right keywords and descriptions. There are various tools unlike like https://keywordtool.io/amazon which can help with this.

Restricted products

Alcoholic beverages (including non-alcoholic beer)
Sky lanterns or floating lanterns
Vehicle tires
Gift cards, gift certificates, and other stored-value instruments
Products with unauthorized marketing materials, such as pamphlets, price tags, or other non-Amazon stickers
Note: Amazon will not accept pre-priced labels or products.
Products that require preparation but that have not been prepped according to FBA packaging and prep requirements
Loose packaged batteries
Damaged or defective units
Note: Used condition products may have damage as long as the product is labeled with the appropriate condition.
Products with labels that were not properly registered with Amazon before shipment or that do not match the product that was registered
Products that do not comply with any agreement between Amazon and the seller
Products that have been illegally replicated, reproduced, or manufactured
Note: We reserve the right to deny removal requests for and to destroy any inventory identified as counterfeit.
Products that Amazon otherwise determines are unsuitable

Categories and products requiring approval

Holiday Selling Requirements in Toys & Games
Amazon Watch Warranty FAQs
Video, DVD, & Blu-ray
Collectible Coins
Streaming Media Players

Products that require approval

Even if selling in a category does not require approval from Amazon, selling certain products may require approval. To submit a request to sell:

Specific products in the Software category, contact Amazon Services.
Laser pointers and related products in any category. See Laser Pointers and Related Products.
Hoverboard products in any category, see Hoverboards.

Summary

Amazon FBA is a great program which allows you to use a massive website with a huge customer base but it is very competitive and there is no guarantee that your product(s) will sell. I will stress this again you have to do your research and find the ideal products to sell or else you can make a loss quickly.

11th September 2019 0 comment

Articles

Passive income : social media influencer

by passiveincome71 11th September 2019

written by passiveincome71

In this article we look at generating passive income by becoming a social media influencer

Most of you know what Social media is (Instagram, FAcebook, Pinterest, Twitter, Snapchat etc) but you may not know what an influencer is. A social media influencer is someone who has an extremely large following on a social media site – these can be millions of followers. Having this amount of followers makes the influencer valuable to businesses who have products ans services they want promoted.

An example of influencers on Social media are the Kardashians, the article listed on https://www.cbsnews.com/pictures/social-media-influencers-influential-2018/ also gives more examples that you can study.

You are not solely dependant on selling products from businesses, you can just as easily promote your own website which may have products oo a service. It could be an ebook that you have written, a course or simply a blog with tips and advice that just displays generic adverts.

There is a myth with being a social media influencer in that it’s simply playing about on the platform, in fact it can take a lot of time and effort. You need to spend quite a lot of time managing and running your social media profiles on a daily basis. This could be outsourced to virtual assistants – most large social media profiles for companies are run by 3rd parties.

You should keep an eye on the platform’s news, in particular for any up coming changes which may be new features or changes to the terms and conditions. Also keep an eye on the popularity of the platform, todays Instagram can be tomorrows Myspace.

You should set alerts for topics and keywords in your niche. As an influencer, your followers expect you to be up to date about the latest news in your niche. You can use Google Alerts to track the latest news and updates in your niche.

Social Influencer tips

Focus on a niche – you must be a master in a specific topic or niche. Do not try and do it all, it will not work.

You should engage with your fans and followers as often as you can. You should try to reply to as many comments and messages as you can.

Concentrate on the most popular platforms – These at the moment are Facebook, Instagram, YouTube, and Twitter

Create a LinkedIn account – this is another very good site to connect with businesses and partners

Do not start tellin a pack of lies or exaggerating – its is very easy to spot liars and bullsh*tters on social media and in turn your reputation can quickly disappear

Reach out and engage with other social media influencers. Popular influencers do this frequently and there is usually a significant boost in their subscribers and fans when they collaborate.

Run a contest or some sort of giveaway. This a very powerful way of engaging with your established fans and can also be an excellent way of attracting even more fans.

Social Media Influencer Myths

As stated there are a few myths about being an influencer, lets look at these

It’s an easy job – nope, it takes time to build a large enough following.

All platforms can be monetized – no again as stated earlier this works best on certain platforms

Its a very low cost job to do – again a no, you will need to spend a reasonable amount of money creating content and running ads on various platforms

Businesses will come to you – if you are a huge media personalityt then this may happen but more than likely you have to contact the businesses directly and sell yourself to them

Followers are the key measure – again this is not true. You could have 1 million followers but only 1% are engaged whereas you could have 100000 followers and 10% were engaged. This would be exactly the same amount of engaged followers. So follower numbers are not necessarily the most import measurement.

Summary

The income is passive, get paid money to promote products but there is a lot of time required to become a social influencer which arguably counters this and you may need to spend money as well – so its not a one way process.

11th September 2019 0 comment

Articles

Passive income : Cashback Reward Cards

by passiveincome71 11th September 2019

written by passiveincome71

In this article we look at cashback reward cards

This is commonly mentioned on passive income sites and ebooks and I will cover this but I do not particularly like this method of earning passive income as it basically involves spending a lot of money buying stuff.

Most credit card companies offer a cashback reward program, basically a percentage of what the customer spends on their card is paid back to them. Credit card companies offer these programs to encourage customers to use their credit cards to buy more products.

The cashback percentages often range between 0.5% and 2% of the total spend of the card holder.

Credit card companies are able to pay cash back to card holders because merchants usually pay fees on transactions made through a credit card. The difference is where the rebates and cashbacks will come from. So using the previous example if you bought an item at $200 then you can get a possible return of $4.

A common way of earning rewards is if you travel a lot then you can get a rewards card for all of your airline miles.

Cashback rewards advice

Since these are creadit cards you should pay attention to the annual fees because cards with the highest rewards often collect the highest annual fees. Pay your bills quickly.

Most credit card companies offer sign-up bonuses which can be free money.

Do not spend more than you need to – if you need to purchase an item then you can use a rewards card but don’t go overboard buying a lot more products thinking that you will be getting more cash back

Make sure that what you are purchasing is covered by your card. There are always products and services which are not covered so don’t get buying anything on the card which do not give you any benefits

Take advantage of any bonus offers that may come up from time to time if these are offered by your credit card provider.

Some cards have restrictions on the amount of purchases you can make – avoid these

Use your credit card to pay for your bills – if the credit card lets you get rebates on these bill payments. If not do not bother

Now we move onto some examples that we found, there are no affiliate links we have just highlighted the cashback percentage but should look at all terms and conditions

Some UK examples

Amex Platinum Everyday – 5% in first three months (max £100), then up to 1% after

Tandem – 0.5% cashback on purchases

Royal Bank of Scotland Reward – Cash back on £500 monthly spend works out at £21

ASDA Cashback Start Credit Card – 1% cashback on all Asda spend , 0.2% cashback on all other purchases

Some US examples

Discover it® Cash Back – 5% cash back on up to $1,500 in spending per quarter

Capital One® Quicksilver® – unlimited 1.5% cash back on everything

Citi® Double Cash Card – 1% back on every dollar you spend and another 1% back when you pay off your purchases

Chase Freedom – 5% cash back on rotating bonus categories and you can also earn an unlimited 1% cash back on all other purchases
Blue Cash Preferred® Card from American Express – This has a huge amount of percentages, lets go. 6% cash back rate at U.S. supermarkets on up to $6,000 a year in spending, then it comes in at 1%), a 3% rate at U.S. gas stations. There is also a 6% cash back on select U.S. streaming subscriptions and 3% on taxis, rideshares, parking, tolls, trains and buses. All other purchases earn 1% back.

HSBC Cash Back Mastercard – Annual 10% bonus on all cash rewards earned in the previous year, plus 3% cash back on up to $10,000 in spending in the first year. the rate drops to 1.5% after this.

Summary

I personally do not use and never has one of these. I can understand that these are popular and it makes sense that if you use a credit card then you should use one of these. The usual warnings with credit cards are valid – don’t spend too much, pay your bills etc

11th September 2019 0 comment

Articles

Passive income : investing in precious metals like gold

by passiveincome71 31st August 2019

written by passiveincome71

A very basic introduction to investing in precious metals in particular gold

Investing in gold benefits

Physical gold is one of the best forms of long-term wealth protection. It is ideal for your heirs since it will outlast any currency or cryptocurrency that they may use in the future.

In a world of elevated risks on multiple fronts, gold offers lower risk, greater safety, and bigger upside than any other investment.

If you want a private or confidential form of wealth, gold is one of the few assets that can offer anonymity.

Gold storage is low maintenance, low-cost, and requires little space. No special skills or expertise is needed to buy physical gold. In fact many companies offer a safe storage facility for a small fee if you want to avoid doing this yourself.

International gold storage is simple to implement and can provide both financial flexibility and investment options outside your home country. Many countries invest in gold such as Switzerland, Germany and China to name three.

Gold can be easily converted to cash, and can go with you anywhere.

Physical gold is not subject to the risks that come with paper assets. It can’t be hacked or erased by someone online.

Physical gold cannot go bankrupt or broke. Gold bullion will never default on promises or obligations.

If you want an asset that will rise when most other assets fall, gold is likely to do that more often than not. The more common stocks you own, the more gold you need as the stock market can easily crash and you can lose a huge percentage of your assets. In fact depending on who you listen to this is overdue.

Gold in the time of a stock market crisis

This is a key measure, look at some of these numbers with regards the stock market and gold prices in the time of a crisis. Gold has the ability to ride the storm whereas if you invest solely in the stock market your investments can take an absolute battering

	BLACK MONDAY 1987	GULF WAR 1990	DOT COM CRASH 2001	FINANCIAL CRISIS 2008
Stock market drop	-38.9%	-22.5%	-27%	-34%
Gold price	+5%	+7.5%	+1%	+5%

Sources: World Gold Council and DJIA Industrial Average on Google Finance

Gold gotchas

You need to invest in physical gold, there are several other ‘products’ such as gold stocks and bonds, gold ETFs and gold futures. Some of these can be created at will, are at the mercy of the financial system and any volatility. These are called paper gold – don’t waste your time with this investment.

Gold and your retirement

This is a long term plan, planning for your retirement. This may sound strange but you should really think about your retirement when you start working and I also believe you should look at your legacy for your children.

Make your life comfortable and help them as well. Lets look at a precious metals IRA which deals with Gold but also can include Silver, Palladium and Platinum.

A precious metals IRA, also known as a Metals IRA, is essentially a self-directed IRA holding physical coins and bars. A Metals IRA can be opened with an accredited custodian that allows physical gold bullion investments. When opening a precious metals IRA, once can either fund it by rolling over a previous retirement account (e.g. a SEP, 401k, 403b or others) or transferring funds from another retirement vehicle. One can also write a check or transfer money from a bank account to fund their Metals IRA.

Converting part of your retirement savings to gold (and other precious metals) can reduce the volatility of your overall retirement portfolio. Historically, gold has moved opposite to the direction of stocks, bonds, real estate and mutual funds. Regardless of your traditional investment preferences, tangible assets like gold and silver can help make the profitability and safety of your retirement portfolio far more attainable while mitigating risks from uncertain geopolitical landscapes.

Including gold within an existing portfolio could improve investment performance by either increasing returns without increasing risk, or by reducing risk without adversely affecting returns.

#1. DIVERSIFICATION
Diversification is rule number one when it comes to protecting and growing your wealth, and it’s the most compelling reason to include precious metals as part of your retirement strategy. Physical gold and silver can offer protection against market fluctuations and stock market shocks by helping you create a strategically balanced portfolio.

#2. INSURANCE
For many investors, holding a portion of their savings in physical gold and silver is like taking out an insurance policy on their retirement. Since gold and silver were first discovered tens of thousands of years ago, they’ve held a strong purchasing power and value.

The same cannot be said for paper assets. Consider this scenario: if a company goes out of business, its stock could potentially be worth zero and if you held a large portion of this stock, you could be left with nothing. Physical gold and silver, on the other hand, have never been valued at “zero” and can never “go out of business.”

#3. CONTROL
Self-Directed Precious Metals IRAs are self-directed, which means you, the investor, are in control of the asset allocation. You’re not restricted to only holding traditional assets such as publicly traded stocks and bonds, mutual funds, or treasury notes.

You can hold all types of assets in your Precious Metals IRA, such as cryptocurrencies like Bitcoin or Ethereum, oil & gas, commercial real estate and other alternative assets that are not allowed in traditional 401ks and IRAs.

#4. GROWTH POTENTIAL
Conventional IRA vehicles are largely dependent upon the performance of a select group of stocks, bonds, and mutual funds, which are inextricably tied to the state of the economy. When the economy suffers, so can many IRA accounts.

The economic factors that weaken stocks, bonds, and cash may increase the profit potential of precious metals, as safe haven demand for gold and silver has proven to increase during turbulent economic times.

#5. TAX ADVANTAGES
Self-Directed Precious Metals IRAs generally receive the same great tax benefits as conventional IRAs. Depending on your tax bracket, contributions to your Self-Directed Precious Metals IRA may be claimed as tax-deductible.

Like all IRA holdings, writes the Journal of Accountancy, gains from gold sold within an IRA are not taxed until cash is distributed to the taxpayer, with distributions being taxed at the taxpayer’s marginal tax rate.

While highlighting the opportunities for gold owners to increase their after-tax returns via an IRA, the Journal also compared two hypothetical taxpayers, finding a “significantly higher after-tax rate of return for any form of gold” held in an IRA, rather than in a brokerage account.

31st August 2019 0 comment

Articles

Passive income : app development

by passiveincome71 29th July 2019

written by passiveincome71

In this article we look at app development as a method of generating passive income. App development is often touted as one of the big ways of making money and of course some people do get lucky and strike gold but thats not the norm I’m afraid, also sometimes the costs are hidden away as it can cost more than you think. There is also a barrier to people who want to create an app who believe that they need to be a genius programmer with a university degree. This is not true either. I created apps so it can’t be.

When I say apps I also mean games for mobile devices as well – its the same idea, mainly

App development options

You can learn how to use the development environment for developing and Android or iOS app and all of the programming knowledge that you would need to create an app from scratch. There are several programming languages available, you can even create an application use web based technologies and package it as an Android App

You can use an online app builder where they generally have a selection of templates or screens that you can piece together to create your own app. This is a far quicker way of creating an app but there are extra costs. Some companies charge per app, a monthly or annual fee or a fee based on how many users.

Another option is you can go to a site like codecanyon and pay for a template and customize it either yourself or by hiring someone to do this. A lot of these templates are easy to modify – for example a common idea is to put your content on a wordpress blog and the app simply displays the pages.

Monetization

There are a few ways to monetize an app

Paid – If your app or game is very good then users may pay a fee like any software prior to downloading. I would be careful as Android and iOS users are used to free apps and you would have to offer something that is not available in an existing free app

Freemium – These are the apps that are free to install but have lots of in-app purchases which range from removing ads, unlocking features or in game tokens. If you have a game then these can be a money spinner, if you have a popular app with ads then an in-app purchase to remove the ads maybe a money spinner as a lot of users will pay a small fee rather than look at these ads.

Free (ads) – Free app, the most popular type for users but there are ads which can range from Admob banner ads to video ads to interstitial ads for other games which the user must wait a period of time before closing. These ads are popular but damn annoying for the user. There are many ad networks and options.

Promotion

There are many ways you can promote an app, here are some examples.

A basic website detailing your app, a youtube video showing the app usage, tweets via twitter, instagram posts of you using the app, pinterest pins of the app screens,a facebook page.

If you wanted to could also create an ad campaign on one of those sites

In short there are many ways of promoting your app – just remember and point to the app page from your web site or social media content

Tips

Research the popular apps on the app store – what is popular. If there are no apps out there or they don’t get many downloads then maybe its not a popular topic.

Do not overload your app with ads – nothing makes a user deinstall and add a negative review than a 15 second in-app interstitial ad that appears every few screens or minutes.

Try and come up with an idea that can have spin offs – a quiz app formula that can have sub-niches, a wordpress app that you could use for multiple niche blogs, a game that can have a sequel if successful – you get the idea.

Always test your app if you develop it yourself – nothing is more off putting than an app that crashes on a phone or tablet or a feature that doesn’t work
Support Android and iOS – If you can, both have different development requirements (there are exceptions to this using certain build environments) and also costs. I would focus on Android as its cheaper and get money coming in.

Amazon app store – Don’t forget that the Kindle tablets do not use Google Play but rather the Amazon app store – this is free to join. Not as many users but you can get your app out there and making money. They also support web apps which are easier to create.

Research native app development – if you can master this then you can create an app which would work on multiple devices. Game development engines seem t have cracked this as many have options to export to Android, iOS, Windows universal app, HTML5 and so on.

Using a CMS as a back-end is a good idea, you would publish content on WordPress or perhaps even a static html based site and the apps only function is either to show the static site in a web browser or pull the WordPress posts into the app. This way you can easily add content, fix typos without the release of a new version of the app. you are modifying the content only.

Myths

Not every app makes a massive amount of money, it depends on user numbers.

You still have to look at customer feedback and work on releasing bug fixes and new features to keep your app competitive.

Apps are not free and never will be – there is a cost to registering an account on the 2 main app stores. You need to pay these before you even publish an app.

An app needs a team of developers – not true, where the bigger games have teams of people developing them the more basic games and apps are still developed by single people or at most a small team.

You need to be a developer – no you could use an online app builder or hire a freelancer

An app does not need marketing – now once listed on the store a few people will find the app but remember the App store tends to list things by amount of installs or a certain number of ratings which are usually ranked by the highest. So you will need a user base who install and then rate the app, this then has a knock on effect of more downloads. You need to push the app listing on as many sources as possible.

PASSIVE INCOME APP DEVELOPMENT

29th July 2019 0 comment

Articles

Passive income – putting money into High-Yield Savings Accounts

by passiveincome71 28th July 2019

written by passiveincome71

Off all the passive income methods on this website this will easily be the most boring, the one with the least risk and therefore the lowest returns.

Yes, we are talking about a High-Yield Savings Account, despite the fancy name its basically a bank account that pays a slightly higher rate of interest than the standard dismal rates on your day to day current account which can be 0.01% to 1% (if you get anything at all). So obviously if you do have some excess cash keeping it an extremely low interest account where you earn very little makes no sense at all – the only winner is the bank.

In this article I will be highlighting UK banks but the same rules generally apply if you are in the US as well

These bank accounts tend to have a few drawbacks and here are some of them that I have noticed

You need to pay a ‘maintenance fee’ which can be monthly.
You need to invest a minimum amount of money at the very start which can be quite a high minimum
You need to invest XXX amount of money every month.
You need to give notice of when you want withdraw your money – there is no instant access here
A lot of these accounts are online only – so internet access required and no physical presence if you have issues (although that is getting rarer anyway)
A lot of the high interest terms are for only one year – after that time frame you drop down to the base rate they offer or move all your money and start again elsewhere

Anyway on with some of the offerings in the UK – some of these are staggeringly bad

UK Listings

Virgin Money – 1.5% interest rate with a £1 deposit , you can withdraw twice a year only and its online.

Sainsbury’s Bank – 1.39% interest rate with a £1000 deposit , you can withdraw three times a year only and its online only.

TSB Classic Plus – 3% AER on the first £1,500 and you have to deposit £500 per month

Nationwide FlexDirect – 5% AER interest on the first £2,500 of your cash, fixed for a year and you have to pay in £1,000+ each month

Metro Bank – 2% interest rate with a £500 deposit , you can open an account online or in a branch but this is for 1 year only

Post Office – 1.7% interest rate with a £500 deposit , you can open an account online. The Post Office in the UK is a big brand, so at least that’s something

Tips

Make sure your High-Yield Savings Account is protected, in the UK this is FSCS PROTECTION and in the US it is either the Federal Deposit Insurance Corporation or the National Credi Union Administration

Find out the minimum balance requirements. If you don’t meet the minimum balance, you will be charged for this.

Read the small print – minimum deposit, monthly deposit, fees, amount of withdrawals allowed – these are all gotchas when you select an account.

Pick established brands if possible – bank Of America, Chase, Nationwide, TSB are more risk-free compared to some internet only operation that no-one has ever heard off – although not always completely risk-free

Summary

I find it hard to recommend this anymore to anyone unless you want a genuinely no-risk investment (and that is debatable if you look at the last financial crisis). There are far higher return of investment opportunities out there that offer far higher returns such as P2P lending and REITs. If you look at some of the safest P2P lending options even they will pay 4% plus.

PUTTING MONEY INTO HIGH-YIELD SAVINGS ACCOUNTS

28th July 2019 0 comment

Articles

Passive Income : coupon sites

by passiveincome71 17th July 2019

written by passiveincome71

This is another that I have seen ebooks touted as a great passive income idea – lets put coupon sites to bed quickly.

coupon sites

The basic concept is that many merchants supply ‘coupons’ which can attract customers in with deals and bargains on products. The product may have a 20% coupon which gives the impression that the customer is getting a bargain and a great deal.

So if you think about it the ability to create a site with coupons listed which is basically the form of an affiliate website as you are sending people to another website to but a product or even spend a site wide coupon on multiple products

Issues with coupon sites

There are huge players in the coupon site space, lets look at some names.

ebates- massive site which has been on the go for years now
groupon- massive, global site
coupons – they own the domain name, lets not mention the amount of coupons they have
hotukdeals – big UK site where people actually submit the deals when they find them
RetailMeNot – claim to have thousand of coupons and they do.

That’s just a small selection and they are huge companies with teams of people finding and listing the coupons, try and compete with that. i very much doubt anyway could

A coupon site takes time to create, setup and populate with codes you have to find the coupon codes, list them and a key thing here – keep an eye on the end date. A lot of coupons only run for a limited time and you have to remove old, out of date ones. This takes time and effort and kind of kills the passive side of things off.

Traffic – since a coupon site in the eyes of Google is just a glorified affiliate site its very thin on content hence these companies spend a large amount on advertising and word of mouth via social media to drive the traffic to the site. This is another nail in the coffin for the passiveness of this idea.

Summary

I would not even waste my time with this type of site, the only way I could see coupon codes working is part of another offering. Lets say you flip sites for a living but do not offer hosting, maybe mention a coupon code which mentions a host with a discount.

Maybe on an niche site – depending on the niche a page with coupon codes for products if you can find any.

I’d personally just promote via social media like twitter or pinterest and just promote codes.

17th July 2019 0 comment

Articles

Passive income – Get Paid to Watch Videos and TV

by passiveincome71 14th July 2019

written by passiveincome71

Do you spend hours watching youtube videos and getting bombarded with ads that you earn no revenue from. STOP NOW, you can earn money watching videos

There are actually a lot of companies out there that will pay you just to watch videos and television either on your PC or on a mobile device. Most of the time you will have to register on an app or sign up with a website where you get access to videos and television programs which you can watch and be compensated for your time in watching them.

Get Paid to Watch Videos and TV

There is not much more than that to this opportunity so lets look at some companies and apps

Apps and websites

swagbucks – You earn swagbucks by watching videos on a wide range of topics. You can also earn bucks by taking online surveys and searching the web. You can redeem your earning through PayPal or exchange them for gift cards. This is truly one of the best legitimate money making sources.

viggle – Viggle is an app which is available for ANdroid an iOS devices, after you download the app there is a list of videos and television programs available which you can watch which earn you 1 point per minute that you watch them. You can either cash in these points or they can be used to purchase various products online. Viggle has a variety of interactive games that allow you to fully engage with your favorite TV shows. Show your loyalty to your favorite TV series through check-in streaks and quests. Enter sweepstakes and contests too, all while earning Perk Points.

InboxDollars – Another company which is similar to Swagbucks in that there are a lot more ways than just videos that you can earn money from.

Inbox Pounds UK – This is the UK version of InboxDollars

https://perk.tv – You earn points by watching trending videos and watching movie trailers. There is ana pp available for ANdroid and iOS devices

paid2youtube – You earn money by watching the YouTube videos that are featured on their site.

creationsrewards – Earn Rewards Watching Videos & Exploring Sites. If it’s a video, you’ll watch & interact with the video.

There are many more apps available on the app stores – just search for paid videos or rewards

Tips and tricks

Switch off that ad blocker if you have one in your browser as a lot of teh websites will detect these and you will not see any videos

Many sites use offerwalls which show the ads – a lot of these are the same offerwall so once you have completed on one site you may not be able to watch videos on another

Do not try and cheat – a lot of sites track IP addresses to make sure people aren’t watching the same videos with multiple accounts

Saying that – do use multiple devices if you are allowed to do so. Some apps allow you to sign in with more than one devices. Check the terms and conditions.

Use a secondary email for registering with any online websites – for your own sanity

If the site or app has a referral link – use it to refer others and increase your earnings.
You will need a paypal account for a lot of the sites and apps/

Summary

It is passive as you just sit and watch videos and ads – if its on an android or iOS device then you can still do work on your PC or Mac just do not expect to get rich with this and do not expect a ton of videos this isn’t like watching youtube there may not be that money. Saying that the bigger sites have other revenue earning methods like surveys or installing apps or signing up for offers.

14th July 2019 0 comment

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