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Passive Income Streams

By Robert Waugh and Karen Waugh

Passive income streams are one of the most popular methods of producing a residual income for life. Most of these residual incomes are made by using simple web pages or websites.

Do not panic if you know nothing about building web pages or websites. There are hundreds of really great and easy to use website building products which are completely free to download from the Internet.

Many passive income streams are made by using online marketing such as affiliate marketing. These can produce extremely lucrative residual incomes, and the great thing is they are both easy and cheap to set up and run.

Passive Income Benefits

Typical start up costs is around $9-$10; this is to pay for your domain name. Your ongoing running costs can vary from $.50 per day to around two dollars per day, my own websites cost me no more than two dollars per day each.

I would recommend that you do not spend more than this as most of the more expensive products very rarely offer any better value for money.

On a note of warning, always make sure that everything you will need is included in the monthly fee. Often some online business packages will have additional hidden extras.

These additional extras can easily push overall costs higher than expected, the only extras you may have to purchase is an auto responder, however I have included this in my two dollars per day budget.

When considering passive income streams it is often better to choose a monthly payment plan for your online business package. This will allow you to spread your costs evenly over the year and will also give you the option to cancel your contract with very little financial loss should you need to do so.

Before you make any purchase it is always wise to make sure that you have an easy way to cancel your contract and any ongoing future payments without any penalties. In addition you should always use a credit card as opposed to a debit card this will give you more protection in the event of a dispute or fraudulent transaction.

If you are not familiar with affiliate marketing the easiest way to understand it is to think of yourself as a person who is promoting products or services on behalf of other people and other companies.

By doing this in the correct way your web page or website will automatically attract customers for you. This in turn leads to sales being made, and you will receive commission payments for each sale that your web page or website has generated.

There are thousands of companies both online and off line who have ready made products and services that you can use to generate incomes in this way.

There is no reason for you to purchase any products; however should you wish to do so you can use your own products and services as well as those of other companies or individuals. These companies do all the donkey work for you, they deliver their products on your behalf, and they deal with all the customer problems, complaints and returns. Many of these products and services such as online tutorials, business study courses, and magazines etc are purchased and billed as part of a monthly subscription.

By promoting these types of products and services you will be receiving a regular monthly income for as long as your customers remain subscribing, this can often be for a year or more.

These are by far some of the best products that you can use to build a passive income. By continuing to promote these types of business on a regular basis you have the ability to build a true residual income.

At the end of the month they will send you a commission check for your sales; this will be paid either into your bank account or more often a Paypal account.

A good quality online business package will include a dedicated area that will show you everything you need to know about building passive income streams.

More Passive Income Benefits

And it will also include a full range of video tutorials to make learning extremely easy, even for a complete beginner.

Passive income streams are popular because you require no special knowledge or skills, and there are no barriers whatsoever. Almost everyone has the ability to build a residual income in this way.

You can copy the exact business plan that Karen and I have used to build our own business. Every step of building your business is shown to you in great detail with individual video tutorials.

If you would like to take a free look at how you can do the same and build your own home internet business, step by step without taking any risks or paying any money up front. Click here http://www.mymoneyjar.com

You will also get free extra help, and a free e-book that will show you how to build your first website.

This is our gift to you for reading our article. Best wishes Rob and Karen Waugh. http://www.mymoneyjar.com

Article Source: [http://EzineArticles.com/?Passive-Income-Streams&id=4884613] Passive Income Streams

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