Get Rid of Extra Stuff For Cash
The Savers Worst Nightmare Inflation
Start Saving Your Down Payment Early
Save Money Pay Off Your Credit Cards
Pay Off Your Auto Loan & Save On Interest
Get A Weekend Job For Supplemental Income
"Save money for your mortgage down payment by reading our money saving tips and articles."
©iStockphoto.com – hidesy
One of the best ways to reach your mortgage down payment savings goal (or any other money saving goal)
is to earn more income. There is no better way to earn more income than creating your own website
about a topic that interests you a lot. Have you ever read books or articles by
Robert Kiyosaki? If not, I highly recommend it. The guy is
a financial genius and changed my life. One of his big lessons is the power of creating
assets that roll off passive income. What is passive income? It means you keep making money even
if you do nothing (or very little). So how does this relate to my advice to create a website?
it's easy: invest your time in developing a really great website with lots of useful content that
will provide something unique to the internet that does not already exist and you will be rewarded
with cash flow from advertising checks. The cash flow will continue to come even though the time
you invest in the site goes down very much over time, especially after the big initial start up
push. As this additional cash flow rolls in, you can save it for your down payment. Moreover,
you can count the additional cash flow as income in addition to your regular job which will
directly influence the loan amount mortgage lenders are willing to loan you.
The Article Rich Website Will Make You Rich
For anyone new to websites, I recommend making an article rich website, like this one. The
beauty of article rich websites is the main feature is the articles and they don't have to be
ground breaking on the technology front. Everyone has something to say. Everyone has something
they are passionate about. Everyone has something unique they know more about than anyone else.
Create a website about that topic with many articles and share your knowledge with the world.
The goal of search engines is the index relevant content. If you create an article rich website
that fills a niche on the internet (no matter how small the niche), you will be rewarded with
traffic. So how do you make money from all of this? It's easy: you will place advertisements
on your site in addition to the articles. As people are reading the articles they will see the
advertisements and click on them. Each time they click on the ads, you will receive a
commission for the click. It is beyond the scope of this article to explain all the
details of creating the actual website and placing the actual ads which earn you the
commissions because there already exist many super websites which offer this information. My
favorite one for beginners is
2 Create A Website. Within this site, I
especially enjoy the article about
leveraging Google's AdSense
program to add advertisements to your site.
Short Term Vs. Long Term Tradeoffs
Making a website is one of the longest term strategies for accumulating savings on this site. While
selling your extra
stuff is a great strategy for immediately making some money to save towards your down payment,
creating a website is a long term and strategic project. I'm not going to fool you. Making a
website is a serious commitment when you initially design and launch it. You will need to put in
at least 50-100 hours getting up to speed and reading articles and books to understand the
business. (As an aside, I highly recommend reading
The SEO Book to learn extremely valuable lessons for
understanding how to build the best possible website.) Then, you will probably invest another
100+ hours writing your articles and building the
actual website. Rest assured that you will get rewarded for your efforts. There
are five ways to look at this. First, you will build an income stream. Adding this income stream
to your regular salary will increase the amount of money the bank is willing to lend you for
your mortgage. Second, you will build up savings.
Take the money you make each month and add it to your down payment savings. Third, you will
build up an asset. After the asset matures and has a good track record of bringing in
advertising revenue, you have the option to sell it should you like. There are many people out
there interested in buying websites for a lot of money. Just
Google "sell website".
Fourth, you will learn a new skill that is very marketable. Once you know how to build a website,
there are many employers who will want to leverage your skills. Perhaps you could find a job
that pays more than your current job after you learn and prove your new skills. Last,
building a website about a topic you are passionate about is fun. If you pick the right topic,
it will not seem like work at all. It will seem like total fun. If your writing and
website are good enough, you might even earn a book deal like the author of popular finance
blog I Will Teach You To Be Rich. As a side note,
I highly recommend you visit this website because there is a huge wealth of information there
pertaining to your quest for saving money.
Outsourcing - Your Key To Leverage
Let's go back to our friend Robert Kiyosaki. One of Robert's
key teachings is the power of leverage. Leverage means getting more done with less time. I think
leverage is especially applicable in building your article rich income producing website.
While most of us can write some really great and useful articles, we are not all technically
inclined. Moreover, we are not all graphic artists. Have no fear, the internet makes it easy to
outsource your graphic design and HTML needs, giving you more leverage to focus just on the part
of the website where you add the most value, the content. (If you are technically and/or
graphically inclined, then I do urge you to play an active roll in your entire site, of course.)
Examples of great ways to get leverage are using a logo design company such as
The Logo Loft for your site logo. Perhaps you could use
Elance to outsource your site design and HTML coding.
Getting Started On Your Website - Make Passive Income Today
So you're convinced. You want to go for it and are wondering where to begin. I recommend going to www.GoDaddy.com.
GoDaddy is the largest registrar on the Internet and will become your best friend in website
creation. I registered this site at GoDaddy and also host it there. I have been blown away by the
value I get: low price and amazing service. To learn more about my personal story, you may want
to check out my About Us page.
I urge you all to investigate this opportunity. It is not for everyone. If you decide to go this
route, I can guarantee it will be a worthwhile journey. You will learn a lot and have a lot of
fun doing it. Perhaps greatest of all, you will own your own piece of the Internet that thousands
of people read each month. One of the greatest ways to grow your wealth is to give back. If you
give back by teaching the world about your area of expertise, you will be rewarded.