I just returned from the first of my wedding related trips, this one to Santa Barbara, and I'm excited for the adventures ahead. I just shared a new post on travel hacking, and have to say I'm loving some of the recent benefits, like waiting for my flight in the United Club lounge instead of at the gate.
Happy February friends! This month has always had a soft spot in my heart because of my birthday, which is tomorrow! I'm entering my last year a twentysomething blogger, but looking back at all of the posts I have written since the blog was born on October 7th, 2008, I am thrilled with how far we've come together.
I have been using Lending Club since 2009 to try to make the best return on my investment. I have been able to easily beat bank savings accounts, and can often beat the stock market. My current annual return is 11.63%. Here’s how I do it and how you can do it too.
I have written about using the debt snowball to cut your debt and I have written about using social lending to make money like a bank. Today we are going to combine the snowball idea with social lending to show you how I have been making money and reinvesting to make money.
P2P lending is making big changes in the world of lending and banking. Peer to peer lending, for those who don’t know, is a lending situation that removes the bank. It is people lending to people. I am a huge proponent of P2P lending as an investment option to help diversify your portfolio.
Like many of you, I have tried my best at finding opportunities to make money online. I have tried a handful of methods. Some have worked out really well. Some have not quite paid off. I hope to continue to expand my online income streams, so please give your best ideas in the comments below. The list is roughly in order from best to worst, but I did not use a scientific method to pick the order.
eHow Writer's Compensation Program
eHow has been my biggest paying online money maker since I joined at the end of 2007. Over the roughly two years I have been a member, I have earned well over $1,000. Not a living by any means, but not too shabby either. After being accepted for the program, I wrote a total of about 35 articles over my two years. The best thing about eHow is that you make residual earnings on your articles. I make about $30 a month these days for not doing anything. For some reason, the earnings have fallen over time. You can see my articles under my user page: Eric1985 at eHow.
Demand Studios is a subsidiary of Demand Media. Demand Media is the owner of eHow, so this overlaps a little bit. At Demand Studios, I am paid a fixed rate (I only take $15) or a residual for writing articles for eHow or a list of other affiliated sites. Something nice about Demand Studios, which requires a professional application, resume, and writing samples, is that the work is always there. I could potentially earn a full time income from the site if I put in the time. If has been my best success lately.
Blogging is not something I do for big profits by any means, but it does produce a small income stream. I have made the $100 AdSense cutoff one time before, but it takes a long time to earn anything there. I have also earned income from sponsored posts and direct advertising sales. However, hosting and domain registration across my several domains makes blogging just a bit more than a wash. The hourly rate is dismal. I do it because I enjoy doing it. If you want to “pay me” for what I do here, the best way today is to sign up for one of my affiliate sites. I only choose affiliates that I really use in real life. You can sign up for Lending Club right now to get started.