If you are into frugality and getting more out of life with less money (and less work) then you should consider the idea that you might make money on the web with residual income.
Residual income is a form of recurring income. If you build a website, and that website makes money for you over and over again, then that is residual income.
Contrast this with linear income–for example, where you get a job and have to spend your time working in order to get money. You want more money, you work more hours. Period.
Frugality includes the idea that more time is greater than more money. To be frugal is to want to buy your freedom from the slavery of working an hourly job in order to pay for your life.
So typical frugality exercises would have you doing things in order to lower your monthly expenses. For example:
1) Getting your housing costs down to around $300/month or lower.
2) Trading in your car for a bike, eliminating your entire transportation expenses.
3) Getting your grocery and food bills down to $200/month per person or lower.
4) Eliminating all the other junk monthly expenses: cable, netflix, etc.
If you are ruthless about those 4 areas of making cuts then you would be amazed at how little income you require in order to live.
Combine this with a source of residual income and you will be truly free. Take on side projects to earn extra money and you can still spend money “beyond your means” without getting into trouble.
So how do you actually earn residual income online?
The way that I recommend is to follow the mini course on this website and build up a single web property. Start a website (or buy an already successful one) and then start building your online content empire, one article at a time.
My goal is always to focus on extremely high quality content, while also shooting for a high volume of output. The key to making strong residual earnings is to have a lot of quality articles on your website. My opinion is that you need both quality + volume. If you have outstanding quality content but very little of it, then you will not make much money. Likewise, if you have tons of articles but they are not very useful to the searcher, then you will not make money in the long run that way either.
No, the key is to have a high volume of articles that are of excellent quality. That is the way to create a genuine resource and that is how you can build residual income. If you want more income then you simply write more quality articles and expand the size of your website.
There are other ways to make residual earnings online but if you want to build a sustainable business then you had better focus on creating a quality resource right from the start. Don’t just spam the web and fill it up with cheap articles and expect to make a sustainable living with that.
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