How to make $30-150 dollars a day making small investments

I’ve been doing so much research on passive income streams that I’m glad it’s a long weekend.  There are literally hundreds of different things you can do that will generate passive income!

A major franchise business or restaurant is a great example of a single source of income, but most need somewhere between $1-2 million in order to qualify. The advantage is your buying into a guaranteed (usually 6 -7 figure) income and business model. Another one is land lording. Buying a house  and renting it for passive income won’t be enough to retire, but a small apartment building might bring in enough to live comfortably.

The average american income is around $50k. After bills and expenses there is not much left to save, even in the best case of saving $25k a year on average. There’s tens of millions who are below the average income in America. Many people are living month to month, unable to save much or at all.

The truth is there are very few single things that you can buy into or invest in that that will give you a guaranteed steady income without first having millions of dollars in the bank. The good news is, it still may be possible to break free within a few years by purchasing lower value investments with lower returns, and amassing 3-4 of these over a period of five years.

There are a franchises that are much cheaper, like Vangaurd Cleaning, ReMax Reality, and Liberty Tax Service. The drawback is the return is not high enough to retire immediately- but it will boost your annual income. They start at $3K, so they could be a good in for some people that don’t have much spare cash. You can also sell them to other investors if invest and don’t think it’s right for you after a while, so that lowers risk.

It seems that the best thing to do is to set up multiple sources of passive income across time. You can’t afford much now. So, you have two options which you must execute in tandem. You must save your money for a long time, and invest in something big. Or, you can save your money for a while and make a series of smaller investments.

By doing this, you can more quickly expand your portfolio of investments. Let’s say your an average American who’s been saving your money for three years. After unforeseen financial impacts, the $75k you should have is in fact $52K. There’s still at least 50 investments you can make today on this list.

If you make an extra $3600 a year from one of those investments, you’ve added 14% to your annual base income. You’d now make $28.5k. Was your last raise that much of an increase?

Now, where did I get $3600 from? If you look each franchise on the list, you see that the net gains are often higher than that

I say $3600 because that is the first milestone you should set- try to make $10 a day via passive income. It’s very likely in the first year you will exceed this. The next goal is $20 a day, then $30, and so on. If you can make $100 dollars a day, you will bring in a considerable amount of passive income.

dollday

Assuming you have $50,000 now- or will soon. These two table show business plans based on making small investments. On the left, we assume $10 dollars a day for each investment. On the right, one $20 and three $30. You can make your own and mix and match daily net gains. Please note that investment income should be separate from savings. I deducted 20% for unforeseen expenses. On the right, if you notice, you will bring in $37,000 of passive income annually. That’s more than you make in savings. Two more years of this and you could quit your day job.

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Goal Achieved: $20 in one Day Passive Income!

Last April I posted $3 a day income goal. This was a huge milestone for me as through various passive income I paid my initial blogging setup costs back in one month’s time. This doesn’t account for my book’s income- just affiliate marketing.

This went well for the next month, and the month after that, and so on fairly steady some passive dollars came my way. SURPLUS! I bought another website domain for another project, And then another web- then I got caught up with work- and I stopped contributing to my blog and all of my passive income projects. Doing so has made me realize how important it is to share as much as I can about what I’m learning in regards to what works and what doesn’t with affiliate marketing… so I’m trying to figure out the ins and outs of it all- which I’ll share on this blog.

Fast forward to the past few months- I’m nearing completion on a those personal projects and getting back into this passive income blogging experiment. I never thought I would make back by $100 WordPress investment. Since then, I have built a bunch of different sites using ASP.NET and react and have learned a lot which I plan to share in post in the future. I’ve also moved most of my new work to Azure- which has been awesome.

In getting back in the habit of posting content I noticed an interesting trend. The week following my break from posting articles my passive income quickly returned to $2 a day. I’ve since posted several more articles which have gotten a lot of visibility through search engines and other websites and now I’ve hit $10 and $20 dollar days via blogging!

I’m not going to pop open the champagne yet though- my next goal is to get $10 (and then $20) a day consistently. And then to try and peak at $50 a day.

This is only income from my Amazon Affiliate links.

Please Like/Share/Subscribe if you like this content! Let me know in the comments what you think- have an awesome day!

The 6 Habits of Lucky People

My grandfather was one of those people who just seemed naturally lucky. In the 1970s and ‘80s, he regularly won prizes like cash, a trip to Brazil, and free food. He also always seems to get the best jobs or always be in the right place at the right time.
Was he truly lucky in the metaphysical sense? Probably not. Luck is about as real as you believe it to be. His lifelong winning streak was more likely the result of his habits. I have found that “lucky” people generally have some specific personality traits that also make them highly effective go-getters.

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I hope you enjoyed this! Please like, comment, or follow to let me know! 🙂 Take care!

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1. They Work hard and they play harder.

2. They are always teaching others and willing to learn.

3. They are mindful and give 100% to everything.

4. They invest in others, and themselves.

5. They love to explore and always stay curious.

6. They love to compete and share their adventures through storytelling.

 

Goal Achieved: $20 in one Day Passive Income!

Last April I posted $3 a day income goal. This was a huge milestone for me as through various passive income I paid my initial blogging setup costs back in one month’s time. This doesn’t account for my book’s income- just affiliate marketing.

This went well for the next month, and the month after that, and so on fairly steady some passive dollars came my way. SURPLUS! I bought another website domain for another project, And then another web- then I got caught up with work- and I stopped contributing to my blog and all of my passive income projects. Doing so has made me realize how important it is to share as much as I can about what I’m learning in regards to what works and what doesn’t with affiliate marketing… so I’m trying to figure out the ins and outs of it all- which I’ll share on this blog.

Fast forward to the past few months- I’m nearing completion on a those personal projects and getting back into this passive income blogging experiment. I never thought I would make back by $100 WordPress investment. Since then, I have built a bunch of different sites using ASP.NET and react and have learned a lot which I plan to share in post in the future. I’ve also moved most of my new work to Azure- which has been awesome.

In getting back in the habit of posting content I noticed an interesting trend. The week following my break from posting articles my passive income quickly returned to $2 a day. I’ve since posted several more articles which have gotten a lot of visibility through search engines and other websites and now I’ve hit $10 and $20 dollar days via blogging!

I’m not going to pop open the champagne yet though- my next goal is to get $10 (and then $20) a day consistently. And then to try and peak at $50 a day.

This is only income from my Amazon Affiliate links.

Please Like/Share/Subscribe if you like this content! Let me know in the comments what you think- have an awesome day!

5 Simple Ways to Save Money

Be sure to share this with your friends!

 

1. Eliminate your debt
If you are trying to save money but still have debt, pay off the debt first. Not convinced? Add up how much you spend per month on debt, that money can be easily saved instead. Don’t make the minimum payment! 😛 .

2. Establish savings targets
One of the best ways to save money is to visualize what you are saving for. Do you want to buy a house in five years with a down payment of 20 percent? Do you want to open your own business?  Do you just want $1000 or to just be debt free? It’s important to have a vision.

3. Pay yourself 
Set up an automatic debit from your checking account to your savings account each payday. Whether it’s $50 or $500. Put this money away into a savings account until you invest it – or until you retire.

4. Save on the electricity bill
By lowering the thermostat on your water heater by 10 ° F, you can save 3 to 5 percent on energy costs. And installing a water heater on request or without tank can save up to 30 percent compared to a standard water heater with storage tank. You can save hundreds a year just by doing this!

5. Skip the frequent treats
How frequently do you *treat* yourself? By this, I mean buying a coffee or other little pick me ups throughout the day. Even buying a Kit Kat bar in the checkout aisle. All of these little expenditures add up as each day goes by. By the end of the year, if you drink a $4 mocha frappe coffee everyday, you will of spent nearly $1,500! It’s important to treat yourself, but don’t spoil yourself either.

Don’t always buy cheapest (The Walmart Syndrome)

It’s important to be frugal. However, simply ‘buying the cheapest’ is not always the best tactic. This works for some things like quick consumables, like a generic brand of yogurt vs the name brand. However, for other things- like appliances, tools, and clothing, it’s not. These commodities I refer to as durables, rather than consumables, because they are meant to be used over and over again.

Walmart Syndrome, more commonly known as planned obsolescence , is where you keep buying the same cheap products again and again- spending more money in the long run because you make the same purchase multiple times. Sadly, most people have normalized the concept of buying the same thing multiple times because there are so many disposable products- but this line of thinking is not sustainable for both consumers wallet and the environment.

The old adage: “There’s buying cheap and then there’s buying smart” is really what this post is all about.

When I was young, for example, there was a year I bought 3 pairs of flip flops in one summer. I kept buying the cheapest pair (trying to be frugal and naive) and they kept falling apart after a few weeks of normal use. I ended up spending $40 combined for the 3 shitty pairs, as well as $25 for a nicer pair which lasted much longer (years in fact). I ended up paying three times as much as I would of had I just bought the slightly more expensive version in the first place.

Note: This doesn’t always mean that there is a direct correlation between the cost of a product and it’s quality. Some products are blatantly overpriced. Some products that will last a life time are quite affordable, like this can opener

Durables can be anything from furniture to consumer electronics or from clothes to toys. When making these purchases there is either an upfront cost you must incur, or you can finance it. Naturally, whenever possible, you should avoid financing where it’s not advantageous (eg. 0.0 apr for 12 months and paid within 12 months is a good deal).

When buying durables, I think it’s best to take the total cost of the item and divide it by the number of years I expect it to work- because nothing last forever. This requires a little market research to estimate the life span of the item (there’s a way to get around the research I explain later). Although products with life time warranties still exist, they are becoming harder to find and often have many stipulations and limitations- so watch out.

A good example is a new phone or tv. How many years do you plan to use your phone/tv? How many phones/tvs have you had to buy across your lifetime? With that information, how many more do you think you will buy?

For me, I just purchased a new phone. With most phones in the past I expected about 2-3 years of life time (which I got with both of my android phones). A new phone cost about $400, so about $130 per year to use. That isn’t bad, but if I’m trying to minimize costs I can do better. I just got a Samsung Phone that is built very rugged. Albeit a little older of a model, it only cost me $100 dollars brand new and it should last me 5 years. $20 dollars a year is six times cheaper than $130 dollars a year.

In addition to thinking about the lifetime of anything you might purchase, i t’s also worth considering weather or not it’s worth buying used. There is slightly more risk, but more often than not the used item is still fully functional and you will get a good bargain.

Take advantage of refund opportunities. Many people I know think it is simply to inconvenient to go to the customer service counter and ask for a refund rather than to go to the same store and but the item again. A good strategy if you’re not so savvy with understanding the quality of a product (or researching it) is to buy cheap, and then return it if it’s not working out in exchange for the slightly more expensive version. This way you’ve mitigated your investment risk in the product.

Regardless, people need to actively try to buy higher quality commodities that will last them a long time rather than settling for cheapest. In most cases, you will find that over time you will spend more money re-purchasing the same item over and over again.

If you’re interested in learning more about planned obsolescence, I encourage you to check out The light bulb conspriacy.

Is investing in a Small Business VS a Franchise

A few weeks ago I made a post about investing in small franchises to add to your current income stream. Today’s posts goes a step further and explores the idea of buying an exiting small business that is not a franchise. No business is the same. There is often little or no documentation like that a franchise would provide when buying a small business. Buying a small business requires much more research and attention- but can be very rewarding. Another term investors use is investing in a ‘business opportunity’.

Similarities to Franchisees:

  • Potential to earn a living income
  • You can be very independent because you run your own business
  • Can vary in price from $30,000 to $10,000,000.
  • You’re usually also buying a clientele stream along with the business.

Differences from Franchisees

  • You don’t get a Uniform Franchise Offering Circular (UFOC). The UFOC is essentially a document that outlines the businesses performance history, profits, losses, etc. Some business can provide records, but not nearly as detailed.
  • Don’t have to deal with corporate rules or pay dues and fees.
    • And as such, you have the very real reality of managing the business with so support line.
    • As a positive, you have a lot more independence and control over your image and product/service.
  • There is no “Brand” per se, or at least not in most cases.
    • This provides the opportunity to build a brand, or to change it upon acquisition very easily.
  • You usually need to invest a lot more time in the image and upkeep of the business. Sometimes, you must even manage it full time yourself (which is a great option for some)
  • There is often seller financing.
    • Seller financing is great, because it makes it easier to negotiate the mortgage and down payment. In these scenarios you work with the seller directly as a lender instead of a bank. The catch is it’s a little riskier and you will want the contract reviewed by a lawyer.
  • They can be used as a “starter package” for a different business
    • You can buy out a small business to save money on buying various equipment they may already have.
  • Can vary in net cash flow, but you can often expect to make about 1/3rd the upfront cost of the business the first year. In some cases much more, or some less depending on the service. Franchises vary as well, but tend to have more stable profit projections with a lot of math to back it up.

Buying a small business usually requires more time and effort, but can often cost less money upfront. If you want to learn more about buying a small business I can’t recommend this guide enough: HBR Guide to Buying a Small Businesss. You will need to learn how to properly value the business as well as understand the market and clientele. Unless you have the assets to hire someone to properly manage your business, you better be prepared to figure it out for yourself- of risk losing it all. Often times, buyers will manage it themselves in the beginning and until they can train someone else to do it for them.

All in all, a small business is a good investment- but as an investor you need to be savvy and understand the product. Buying a small business is usually easier than buying a franchise, thus it is more accessible to potential investors.

I’ve considered recently what kind of starter businesses I could get behind. Pizza, I think, is my favorite. In high school and college I worked for a local pizza shop and I loved it. Usually, Friday and Saturday nights in the pizza kitchen were very exciting! Making pizza is actually very rewarding and fun. I even have a my own super secret recipes for delicious fluffy dough and sauce(s). Recently, I looked around Washington and found a few pizza places were for sale. I may jump in and just enter the restaurant business one day. I have the advantage of already knowing the business. That may be a quick way out of the 9-5 and on the road to independence. 🙂