I will be out on vacation from February 13th through February 22nd. I have an incredible list of bloggers lined up to guest post on PFI in my absence. During that time be sure to stop in and check out their sites and give them some love!
Welcome to PFI and the weekly updates – The Power of Passive Income Edition. People who don’t fully understand the power of passive income often ask me why I devote so much time up front with no immediate compensation in return? I can understand that thinking and in fact use to feel the same way. Why devote countless hours up front working on something where I don’t see a paycheck with money earned? You could even go a step further and say – Why spend all this time on something where you may never earn a dime? That is a very true statement when working to earn passive income. I could spend 20 hours on a project and not earn a single cent. However, if you study and educate yourself on successful ways to create passive income, that same 20 hours could earn you an incredible return.
As the economy worsens and people become unemployed, the search for alternative income will grow. Part of those looking for income will venture into the world of passive income generation. My advice to anyone new starting out working to generate passive income is that it takes a ton of hard work at the beginning. However, that hard work can be extremely powerful. Just look at some of the articles I have highlighted below to see for yourself!
Personal Finance Blog of the Week
As part of my effort to meet my personal finance goals for 2009, I plan to visit other personal finance blogs and help promote the good ones anyway I can. Each week I will write a short review of a site that I believe is worthwhile checking out.
- The Almost Millionaire – The author of The Almost Millionaire has a first hand background of running a business and franchising. In addition, the site includes tips for making money online among other personal finance topics. I have gained a lot of useful information from this site and would recommend it to anyone. Go and check out The Almost Millionaire today!
Carnivals
I participated in the following carnivals over the past week. Please check out some of the great reads from these carnivals!
- Carnival of Personal Finance – Wizard of Oz Edition – (Feb. 9, 2009) Cheap Family Vacations – Ways to Save Money – hosted by Dollar Frugal.
- Money Hacks Carnival #50 – (Feb. 4, 2009) Benefits of Economic Recession – How it can help us – hosted by Curious Cat.
- Festival of Frugality #163rd Edition – (Feb. 3, 2009) Job Loss, Pay Freezes, and 401k cuts – hosted by My Journey to Millions.
Articles I liked this week
Sticking with the theme, I am listing my favorite articles I read over the past couple of weeks (not necessarily new articles) on the topic The Power of Passive Income. Here are some of my favorites -
1 – Dusty from Experimental Blogging saw a 65% increase in eHow earnings compared with last months passive income results.
2 – Write for eHow talks about eHow earnings that grew by 10% last month with only writing 3 articles.
3 – My Work at Home Mom Blog provides an overview on how to make money with a website by creating niche sites that can be very powerful passive income earners!
4 – Pat from Smart Passive Income proves the power of passive income by detailing his January eHow earnings. He did not write one single article during the month and still earned over $100 by doing nothing! He even saw a slight percentage increase in earnings compared with December.
Have an wonderful week!
Related posts:
- Passive Income eHow Updates – February (2009)
- Passive Income Results – February (2009)
- Passive Income eHow Updates – July (2009)
- Passive Income eHow Updates – October (2009)
- Passive Income eHow Updates – January (2009)
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{ 3 comments… read them below or add one }
The Almost Millionaire is a great site! Great recommendation my friend. Have a wonderful vacation!
Dusty’s last blog post..How To Write For eHow – On Sale For A Limited Time
I love blogs like yours that inspire me to keep going! Thanks to your blog, I have set a goal to write 4 e-how articles per week, and I have 2 down for the week so far
Thanks for the inspiration!
By the way, how do you get invited, or how do you contribute to a blog carnival? And how do you host one? Perhaps that is a topic for another post, but I would be interested to hear!
@Dusty – Yes, I really like The Almost Millionaire. Thanks!
@Steve – I hope I can motivate you to start your passive income generation. Take a look at this post – Blog Carnivals for more information on submitting posts.