Budget Advice

Extra Income Australia

admin — Tue, 28 Oct 2008 20:09:35 +0000

This article looks at the methods the average Australian can use to earn extra income.

You will:

Learn the four steps to earning an income online.

Discover the 10 ideas for beginners to explore

See the recommended resources for developing your web empire

Step one: Step up a website.

A website can serve as a brand center. It can tell others about your business or publicize you as a person. This can lead to many opportunities.

You have two choices: use free hosting or set up your own hosted website. The second option is more expensive but it can be done for less than $100 per year.

The first step would be to reserve a .com domain.

I would highly recommend you reserve this domain under your own name, or the name you wish to use online. This can protect others from profiting off your name should you become successful.

A bonus is that you can install extra blogs on the one domain, as well as other services. This allows you to have sites that look considerably more professional that free blog hosting services.

Before you get a domain, check if you can get a free one as part of your hosting package. This little tip may save $7-15. For beginners, it is easier having the domain on the same site as the hosting.

I recommend you purchase the domain first as it can take 24-48 hours for the purchase to finalize and the domain connected to you account.

When looking for hosting, consider the following:

Can you get unlimited sites hosted?
Do they have a set up fee if you decide you don’t want a contract?
Have their clients given positive reviews of their customer service?

Recommended hosting companies.

For an absolute beginner, I would recommend going through Bluehost. You can get a 12 month account package at $7.95 a month. You get a free domain and no set up free. What appeals to me about this plan is you get unlimited sites on the one domain - something you can pay considerably more for elsewhere.

You can decide now or later whether you want to develop the website. It may be best to leave it for a few days or weeks to decide.

Step Two: Ascertain How You Want To Earn Money.

This step covers 10 of the simpler ways to earn money online. You don’t have to do all or any of them. Any one of these recommended ideas will give you the foundations in that particular niche. I would experiment in a couple and find what feels right. Once you have a fair idea you can move onto the next step.

Idea One: Make Money By Writing For Other Websites.

One of the easiest ways to earn money by writing is to join many of the websites that reimburse you based on advertisement revenue. You may make very little income initially until your writing style improves and you learn about what attracts readers.

You can benefit by taking advantage of the websites search engine friendliness and support to guide you with your writing. You can earn royalties over a long term, and also earn affiliate income through clever link placement. You can also use your work on here as a resume should you decide to seek freelance work later.

Sites That Offer Payment For Writing

I use hubpages with moderate success. I highly recommend it for anyone starting with web writing. It allows you to get a feel for what works and you benefit by a website that is optimized for search engines.

Idea Two: Make Money By Blogging

You can monetize your blogs in multiple ways. It is beyond the scope of this article to discuss all methods but the following are ones that beginners can adopt.

If you want more information, I’ve developed a resource list: 1000 Questions to Ask Before You Begin Blogging

Method one: Asking for donations

Donations work best if your website is focused on community.

If you have a wordpress blog, this can be done with a widget. Alternately, you can use paypal to get a ‘html code’ which you then copy and paste onto your website.

I wont profess to know much about this method, other than Steve Pavlina and Leo Babauta have used it with much success. If you want more tips read The Ultimate Guide to Monetizing your site through Donations

Method Two: Having Contextual Advertising

Contextual advertising is when an advertisement is targeted to the content of a website. This benefits you, as a publisher, as it ensures your readers get links relevant to the information they are reader.

Adsense is the easiest to set up and implement. I recommend that you experiment with that method at first to get a hang of the advertising method. Problogger has many more advertising tips once you’ve progressed.

Some sites that offer Contextual Ads:

I found the book listed below to be immensely useful for my adsense education. Even better, its only $10 for 200+ pages of tips.

Adsense Secrets

Method Three: Recommend Products via Affiliate Links

There are many methods of earning affiliate income. One of these is through banners that you use on your blog. These can be used until you can get some paid advertising spots.

This method is discussed in more detail later in this article.

Method Four: Selling Advertising Spots

A popular method is selling advertising spots on your blog. You can charge on a weekly or monthly basis. A useful way to get long term advertisers is to offer a discount if they sign up for a number of months. You need traffic to be able to charge for advertising. I would recommend using affiliate links as ‘Sponsors’ until you get to a stage where you can charge for advertising.

A really useful plugin is OIO. It is considerably easier than many of the free options available.

Method Five: Having a mailing list.

Many web entrepreneurs, like Yaro Starak, emphasis the benefits of having a mailing list. You’ve ascertained there is an interest so you know they will be more receptive of related marketing.

The Site for Product Launch Formula has heaps of free resources on how mailing lists can help with product launches.

There are many methods you can capture an email address. Product Launch Formula uses the main one. This is by asking for an email address in return for free content. For beginners, a free e-book or video may be the better option.

Many of the big name bloggers use Aweber to manage their email list. I use it to. The service is fantastic, but it does take a while to get used to!

You should also make sure that the readers are aware that they are signing up for a list. It would be best to mention the frequency of email and expected content.

Want More Help?

You may find these two websites useful:
Problogger
Blog Mastermind

Idea Three: Create Niche Sites

A Niche Content Website is a site that targets both contextual advertisers and search engines. They are sites set up with 10-15 pages of content that is targeted to certain keywords. The idea is that people who search for that term will click a paid link on your site.

An example of a niche site I have creating is Blog Resources. I created this solely as an experiment and not an income earner. No marketing has been done. You can see that it is product based.

A good thing about niche sites is that you can test your ideas in relative privacy. They aren’t as public as blogs especially when it comes to failures.

I don’t use niche sites as a major part of my income earning. I do however focus on building Niche Networks. You can read more at Niche Site Success.

A way to make money from niche domains is the product Build A Niche Store. This method involves finding niche products from ebay users and making money from their affiliate program.

Idea Four: Earn Regular Income by Freelance Writing

Freelancing can be one of the best ways to earn an income online. Initially, it can be quite the hard slog.You need to build up a demand for your services. To to this, you need to be remarkable.

The following resources may help you on your journey.

Idea Five: Make Money by Selling Your Photos

There are several ways of making money with your photos. If you are interested in exploring this further please check out my article Earn From Your Camera.

The methods described there are ways of earning via the internet. This can supplement other photography income streams.

In this article, I will breifly discuss Microstock photography. Once set up this requires the least work. It can be a great way of earning residual income!

For publicity:

Deviant Art
Flickr

Microstock Sites:
Dreamstime
Fotalia
I stockPhoto
123 Royalty Free
Stock Xpert
Shutterstock

Resources:
- Microstock diaries
- Digital Photography School

Idea Six: Create E-books

There are three ways of making money from e-books:

Earn money from affiliate links in the e-book
Use the e-book to promote one of your products
Sell your e-books to a audience.

If you have an affiliate program it gives the readers an incentive to promote your book elsewhere.

For further information read 500 links to devour before stating your E-book project.

Idea Seven: Promote Affiliate Products

The income is derived from commission earned on leads and/or sales. The company saves money by not having to advertise - you do the job for them. Only rather than have direct advertising everywhere, the advertisers have real people promoting real products.

How to earn the income?

Through sales leads from your blog
Through specific campaigns targeting google adwords
Through creating article based sites to drive organic traffic to specific presell pages
Through publishing ebooks
Through email campaigns
Through creating Squidoo lenses

How do you get paid

Through check (in either US or AU dollars)
Paypal
Direct Deposit

Be aware that paypal will take out fees. If your working with large international publishers you may be lucky enough to receive a check in AUD.

How much money should I expect?
It depends on a number of variables. If you casually offer affiliate programs through websites or blogs, the income may be rather small depending on your audience.

I’d recommend testing various affiliate programs in your own blog, if you have one.

I would look at the following networks and choose a few programs to try.

Idea Eight: Selling on Auction Sites

If you’re an Australian, two of the best known sites are ebay and oztion.

You can even earn money by referring these two sites! As they are quite well known, they wont be discussed in further detail here.

Idea Nine: Entering Competitions

This isn’t a log term or sustainable method of earning an income online unless your exceptionally gifted. It can be really fun - I’ve won some great prizes by entering the occasional competition.

It can teach you about writing succinctly and give you the opportunities

The following sites compile competitions. The first two are paid membership sites:

Idea Ten: Mystery Shopping

Mystery Shopping can help you earn hundreds or thousands of dollars a month.

The key is to get to a state where you are considered a preferred shopper in your area. If this happens, you will be contacted before the job is made public.

You can achieve this by being consistently reliable and punctual.

Mystery Shopping Companies

Tips for getting ahead when mystery shopping

Use your mobile phone or PDA for reminders and some notes
Jot down your notes as soon as your out of the immediate vicinity
Don’t be too public about your mystery shopping status. Friends tell friends.
Try to include regular purchases into as many gigs as possible.
Try to do as many jobs as you can in a particular area to save on fuel costs

Step Three: Create a Plan of How You Want To Earn Money

By now you should have identified what methods you wish to make money from.

The next step is to organize them into a rough plan. Just write it down. Everything. This should include:

Significant personal, profressional and financial milestones
A timeframe for reaching certain goals
Which methods of monetization you want to use
Which programs or companies you want to use to help you
What websites or e-books can help you with your goal

Step Four: Put Your Plan into action

The goal here is the ‘doing’ part. This is where you take your experiments and just go! Too many people fail to succeed because they fail to try. Set yourself apart by being willing to work harder then your peers.

Resources for developing your web empire!

Setting up a home business can be really confusing to the uninitiated. These resources can also save money in your personal budget!

How To Prepare For An Economic Recession - A Guide To Surviving The Tough Times

admin — Tue, 28 Oct 2008 11:06:25 +0000

Many Aussies are feeling the rush of panic upon watching the news. Fortunately, Australia appears to be in a better position to ride out the worldwide financial crisis.

This article details the three things you can do now to handle any impending financial emergencies. Before you continue, read the Wisebread article on preparing for a recession. It details the financial impact of a recession and even more steps you can take to prepare yourself.

Prepare for the possibility of job loss.

No job is safe in a tumultuous financial climate. Sure, some sectors have more security but the company may not be able to afford to keep you on. Preparing for the eventuality will reduce any stress should it arise.

Pay off debt. This helps you now, but also reduces the amount of expenses should your income be drastically reduced
Have an emergency fund. Aim for enough money to live off for a couple of months.
Look at alternate income streams. Even the interest off your emergency fund could be a nice little income earner.
Get additional training. This could be in a field unrelated to your current employment. This could ensure you have a greater chance of remaining in the workforce.
Have the relevant paperwork for centrelink. You may never need it, but make sure you have necessary financials and identification on hand should it be reqested.

Prepare for loss of disposable income.

A loss of disposable may not have a direct effect on many facets of your budget, but may affect your perceived quality of life. Qdequate preparation can make any several financial difficulties more bearable. Below are a number of sacrifices you may have to make and ways you can get around them.

No more take out. Find a homemade alternate.
Less money For socializing: Invest in cards or board games.
Less money for hobbies: Look to see if you can find an online membership site for your hobby. You can find lessons for musical instruments, craft and income generating hobbies.
Prepare for less money for travel. This includes transport to your place of work. Research alternate forms of transport.
Less money for clothing and beauty. Look for cheaper alternatives for beauty products. Go to op shops or ebay for clothing.

If your after great savings tips, make sure to check out Simple Savings. They have loads of tips on saving money on every day items.

Prepare to cut down on your food bill.

A recession isn’t all bad news; according to Fox Business, companies may actually reduce food prices to get stock off the shelves. However this may be of little use if you have no money to pay for it. You can safeguard your family to a degree buy going back to basics.

Four Step Approach To Trimming The Food Bill.

See what food items you can grow.

Growing your own food can save a bundle. It is often thought of as being a costly and expensive exercise, but doesn’t have to cost a bundle. Even a small garden can save a family $50 a week. It is easy and simple to set up.

Look at your weekly budget and see what you could grow in your backyard. For many plants, you don’t need a formal garden. You could plant items in between your ornamental plants. If you have a love of weird and exotic fresh food, look to see if you can grow the plant. I grow rare herbs and fruit. I grow tamarillos. They cost around $1 per small fruit at the shop when I’m lucky enough to find one. I bought the seeds for $3 from The Lost Seed. A potential problem is moving the plants is if you had to move to find more job prospects or to find cheaper accommodation.

A few tips for a recession friendly food garden:

Buy seeds where possible. Go heirloom - you can save the seeds and share them with a friend.
Focus on plants you can easily propagate. This means that given enough warning, you can restart you garden should you move. Again, it also allows you to share your garden.
Grow food that have short seasons in a dedicated bed. Things like beans, carrots and tomatoes can pay for themselves in a relatively short period of time.
Research ways of preserving the glut. Alternately, see if you can trade your excess with a neighbour or friend.

See what you can buy in bulk.

Bulk buying may be costly initially, but over the long run can save a significant amount. I find stores that sell caterers quantities of my favourite foods.Useful items to buy in bulk are sprice, baking supplies and special treats. I buy from Campbells Cash and Carry. I like to stockpile food bought in bulk to ensure I have enough to last me through tough times.

Start by identifying what items you use the most. Then choose whether you want to stockpile the processed option or buy the basics. An example is stockpiling pasta. Ensure you have experience preparing the food from scratch before you actually need to.

For many staples it can be more economical to buy from coles. I like to stockpile items when they are on special. Homebrand items are rarely on special and can be the best value. Buying in bulk is also useful to cut down on packaging.

A few tips for a recession friendly bulk food stockpile:

Stockpile some of your favorite foods. Luxuries are one of the first cutbacks on a strict budget. Having something special can prevent you from feeling deprived.
Store foods that you will use regularly. This way you can rotate them and nothing is wasted.
Compare the prices of bulk food. Even though you are saving by purchasing large quantities, you may have the potential to use later.

See what you can preserve to use later.

There are three main methods of preserving food for later use: drying, freezing and canning.

Freezing is often the easiest option. You don’t need any special equipment. I do this for a lot of fruit and herbs.

Drying is when you use the sun, air or a dehydrayor to preserve the nutrients in the dehydrated form of the plant. I do this for many of my herbs.

Canning is a processed where you preserve the food in an airtight contain. This can be tricky for the first timer and can require purchasing specific jars or kits.

I research preserving according to a specific food. I go to the shops and see what food I can buy in bulk. I also check out websites to see when foods will be in season. I can then purchase necessary equipment or take advantage of specials.

If money is really tight, this little tip could save on the initial expense of food AND prevent wastage.

See what you can make from scratch.

Making food from scratch is time consuming but may make the different between needing to get a second job if money is tight. With many storebought products you often pay for the packaging, marketing and processing that goes towards getting the products to you.

I choose items that are expensive to purchase and find the cheapest option of making it from home. For instance, if I make homemade tomato paste and pizza bases then I can significantly save on pizzas.

Its all a matter of how far you are prepared to go to save on your food budget.

Online Recipes For Hash Browns

admin — Tue, 28 Oct 2008 08:10:43 +0000

Personally, I don’t eat hash browns. But these two recipes proved to be a real hit on Simple Savings!

Do you have a delicious recipe for hash browns? Have you tried the above two recipes? Let us know in the comments section!

Extend The Life Of Your Flour By Learning About Flour Storage

admin — Sun, 26 Oct 2008 05:31:44 +0000

When I first started stockpiling, I was very confused about how to best store my flour. Heaps of other stockpiled items already came in an item like tin that made it suitable for long term storage. Then I came across this article on All About Bread.

While brief, it has many practical tips on storing flour and protecting it from pests. It is well worth the read.

Use ‘No Eggs’ As An Egg Replacement - Really!

admin — Sun, 26 Oct 2008 05:13:55 +0000

A really useful alternate to eggs is a gluten free product called ‘No Eggs’, available from Orgran. It is useful in your stockpile as it lasts a lot longer than some of the egg replacements.

You can buy it from your local shopping centre or from online stores such as Gluten Free Favourites

How To Replace Eggs In Your Cooking

admin — Sun, 26 Oct 2008 04:51:42 +0000

I’m fortunate enough to have chickens. They don’t necessarily save money and are more hassle than its worth to use the eggs in cooking.

These two articles on egg replacements may require ingredients you already have:

In some cases, you are saving money by food you may have wasted OR are using an item that is cheaper than purchasing eggs from the store.

Have you had success or failure with egg replacements? Let us know in the comments.

Save Money On Eggs With This Flax Recipe

admin — Sun, 26 Oct 2008 04:39:27 +0000

This recipe details how you can use flax seeds and water to make your own egg replacement.

There are a few ways you could save money on this recipe:

Grow the linseed/flax yourself to save the purchase cost.
It refrigerates for two weeks. It you intend on using a lot of ‘eggs’ consider making in bulk to save on resources.

Powerless Cooking With The Cobb Oven

admin — Sun, 26 Oct 2008 03:20:55 +0000

I’ve been doing heaps of research on alternate cooking sources lately and one product that came up repeatedly was the Cobb Oven. Many people had bought it for the emergency kit and camping, but a sizable number of people will use it exclusively to cook certain dishes.

It appeals to me because its versatile and very user friendly. It drains fats, can be used on many surfaces and is very portable. I’ll definitely be buying one, even if it takes a short while to save up the $200 required.

Cook Using Charcoal With A Weber BBQ.

admin — Sun, 26 Oct 2008 03:17:25 +0000

Weber offer a great range of BBQ’s that would be very useful in a powerless situation. Many run off gas, but you can also buy ones that use Charcoal.

I found two products that would suit me as a single person. They are the products called “Go Anywhere” or the “Smokey Joe.”

It you have a stockpile of heat beads or similar, you could probably use this as an alternate cooking source during an emergency or power outage. They are both under $120 and I intend to get one for my emergency kit, as well as to use for fun.

You can find out more via their official website

Free Recipes For Emergencies From Emergency Kitchen.

admin — Sun, 26 Oct 2008 02:10:07 +0000

One major concern that is repeated on multiple forums and websites that I frequent is how to create yummy meals during an emergency. Fortunately, I was lucky enough to stumble upon Emergency Kitchen.

The recipes featured on Emergency Kitchen feature products made from canned or non perishable food. This means you have nutritious meals from your stockpile while developing alternate methods of sourcing food products in an emergency.