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August 1, 2010

Writing for Textbroker (or not)

Filed under: Articles,Passive Income — admin @ 10:46 pm

I’ve been writing for Textbroker recently and could easily see this bringing in $100 per month if I can stick with it.  The site if very well laid out and there’s no confusion to what’s going on.  You choose assignments, write them up, submit, and, once they’re accepted, get paid a few dollars for your efforts.  The pay scale is low but that’s becoming the norm for article writing.  The rating system within the site requires you to submit a writing sample before you’re allowed to accept assignment.  With the average level of writing you’ll find on sites like EzineArticles.com you can score a “4″ rating, which is the highest for non professional writers.  That 4 rating will get you just about 1.5 cents per word.  So far, I’ve earned between 4 and 6 dollars per article.

As far as the big picture is concerned, writing for Textbroker or any other site falls squarely into the “trading seconds for cents” category.  If you understand the difference between being an employee and a business owner, (as explained so we by Rich Dad in The Cashflow Quadrant), then you understand that this is no way to build a business because there’s no passive or even near passive income to be had.  In an ideal scenario for an entrepreneur, you would hire a bunch of people to write these assignments and take a cut from each one.  Only that’s what Textbroker is already doing.  My motivation is purely short term as I’m in need of cash to replace an old laptop and no other money bucket is going to cover it.  So instead of watching Sunday Night Baseball on ESPN, I’m watching Sunday Night Baseball on ESPN 3 on my second monitor while writing assignment on my main screen.  Instead of simply passing the time on pure entertainment, I’m earning a small wage via multitasking.

So for the long term, I’ll likely become a client of Textbroker rather than a writer.  Articles are much more valuable to me as my own content.  Even though the truth is that my articles haven’t all earned me $4-6 dollars, the money they have earned me has been passive once they are published.  I’ll take a passive dime over a hard earned quarter as long as the dimes are part of an income stream and not a single drop in the bucket.

August 25, 2009

Credit Card Debt – One Of Americans Biggest Problems

Filed under: Articles,Reducing Credit Card Debt — admin @ 8:21 am

Credit Card Debt is one of the biggest problems facing Americans today. No matter if we spend our nights worrying about how we are going to make our next payment or when we ever be able to truly pay off the debt we have already accumulated we all are wondering how exactly can we ever get our debt reduced.

The first thing to do to reduce your credit card debt is to call the credit card companies and try to negotiate a lower interest rate. The more you pay each month towards interest, the less money you are paying towards your actual debt. Even a savings of ten dollars a month in interest adds up to over a hundred dollars a year towards your debt without actually spending any additional money in payments.

Sometimes credit card companies will even allow you a period of a zero percent interest rate. Also check to see if you have account guard on any of your credit cards and if so cancel them. In the event of an emergency this programs will only pay your minimum payment, but canceling the program will likely save you up to forty dollars a month, for an annual savings of up to four hundred and eighty dollars that you can instead apply to your outstanding debt.

Another way to lower your credit card debt is by getting a consolidation loan. Often times, the interest rate on these is less than your current interest rate and it compounds differently. You can choose your payment plan and have the convenience of paying only one payment, therefore saving money on checks and stamps to send multiple payments in to your different creditors.

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