One of the latest passive income streams that I have started is writing articles for eHow. In fact, I just published my first article this morning on eHow. The article is titled How to sell covered call options.

I have always had a passion for options trading, which is also on my list of passive income streams. Recently, I have been asked by several readers to write some posts on my experience trading options as an income stream. I thought that this article would be the logical choice for my first attempt at writing for eHow. If you get the chance, take a look at it and let me know what you think.

Writing articles to earn income is something that I have been doing for some time on PFI. I have written several sponsored posts in the past few months for SocialSpark and PayPerPost. I have had good success in writing articles for both of these social networks to date, and have earned a decent amount of income by writing these posts. However, one of the downsides of writing articles for these social networking sites is that you don’t get to choose the topic and must follow the guidelines laid out by the advertiser. While I try to select articles that fit with the overall personal finance theme of this site, it can be difficult making it work.

In addition, once your posts have been approved, you get paid once. Since these advertisers will not allow you to put any other 3rd party advertisements within the post (such as Kontera), you are limited to one payment for your work, which is not passive at all!

Writing for eHow

There are two aspects of writing articles to generate income on eHow that I really like when compared to SocialSpark or PayPerPost. The first item is that you get to write about what you know and like. Take my first article I mentioned above. I have experience trading options and really like to talk about it, so I wrote an article about how to use covered call options to generate income.

The second item is that you have the opportunity to get paid over and over. I consider any article written on eHow as a residual income opportunity. While you are not guaranteed to get any payments for your work, you do have the opportunity to get paid for your work many times depending on the popularity and demand of your articles.

Update (08/15/2010) – Please note that since this original article was posted, eHow no longer accepts any new writers or articles. Interested writers wanting to publish content on eHow must use Demand Studios.

Do you write for eHow, SocialSpark, PayPerPost, or any other sites that pay you for your work? What types of experiences do you have? I would like to hear back from my readers to get their opinions on this topic!

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Are you getting back a tax refund this year? If so, what are your plans for the money? Have you considered using it on a new passive income opportunity? Investing your income tax refund into an asset that will generate additional income is a great opportunity to build your wealth. Even if you are not getting back a refund check this year, what about other lump sums of money you may have received in the past? Investing money that is not part of your normal pay is nice because you are probably not relying on that income for everyday life. Regardless the size of the refund or other lump sum payment (i.e. inheritance), choosing to invest this money is a huge step towards financial independence.

There are so many possibilities for creating new passive income streams. Some are free while others cost thousands and thousands of dollars to start. You can begin creating free income opportunities anytime. On the other hand, having the available funds to purchase cash flow producing assets is not as common. That is why using payments like income tax refunds to build your wealth offers a tremendous opportunity – regardless the size of the check!

Here are 18 passive income opportunities that you could invest a portion or all of your income tax refund into. You may notice that some of these opportunities cost a few dollars while others costs thousands of dollars.

1. Build a certificate of deposit ladder.
2. Add a few dividend growth stocks to your portfolio.
3. Start a lawn care business and hire someone to run it.
4. Use the money to purchase a franchise.
5. Put it towards a down payment on a rental property.
6. Buy a domain name and start a niche blog.
7. Hire a ghost writer to create material for eHow and other content sites.
8. Open up a high yield savings account.
9. Pay for an email newsletter provider and deliver quality content to your readers.
10. Write an eBook and use your tax return to pay to have it published.
11. Create an online membership site and pay someone to produce quality content for your readers.
12. Hire a freelance developer to create an iPhone Application.
13. Invest in Tax Liens that can pay a very high yield.
14. Buy a secure investment like municipal bonds.
15. Purchase internet real estate that is cash flow positive.
16. Use your tax refund to purchase educational materials like the One Week Marketing plan to start a passive income stream.
17. Use your refund check to participate in peer lending.
18. Start an online forum.

Whether you believe the list above is residual income, investment income, or passive income – the main point is they all have the possibility to earn you back money. Instead of spending your refund check on a new television or latest tech gadget, consider buying something that will pay you back. Think of all the possibilities of how you could use your passive income in the future (which should be much larger) as opposed to what you can purchase immediately.

Are you investing your tax refund into a passive income opportunity?

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