Monthly Archives: December 2014

Donate Plasma For Money $$$$- Ka-Ching

I became a plasma donor a number of years ago, while searching for a way to earn some cash quickly. Since I worked in this industry for several years, I had known about it, but never gave it a second thought until I really needed the money. It is a safe, relatively painless way to earn a few extra dollars on the side. You get paid right after the process is complete. Besides the obvious benefit of getting paid, you are helping to save a life by donating blood plasma.

Plasma is the yellow or straw-colored, liquid portion of your blood. Your blood is roughly 55% plasma, and the rest is composed of red blood cells, white cells, and platelets. Plasma contains important proteins like antibodies, albumin, gamma globulins, enzymes, and clotting factors. These proteins help your body perform numerous functions such as fighting microbes and infections, normal clotting of the blood, digesting food, and metabolism. The plasma that you donate is put through a manufacturing process to make life saving therapies for patients. People like hemophiliacs are counting on plasma donations in order to sustain life.

In the United States you can donate plasma at an FDA regulated plasma collection center. Most of the time the centers are owned and operated by private, biopharmaceutical companies. I am going to go through some of the things that you should expect as a first time donor.

To get started, you will need a government issued picture I.D. and a social security card. The plasma center will need this documentation in order to verify your identity. Some plasma collection centers also require proof of address, such as a utility bill or banking statement. Have the proper documentation ready, because you won’t be allowed to donate without it.

On your first visit as a new donor, the entire process from start to finish will take about three to four hours. However, it can take more or less time, depending on unpredictable factors, like the amount of donors ahead of you, staff available, etc. So don’t bother attempting to donate plasma on a day when you have other important commitments.

You will go through a screening process and private physical exam on the first visit. The screener will verify your residence and identity. You will be asked many questions about your health history and sexual history, lifestyle, etc. This is to “weed out” people who aren’t healthy, are engaged in “high risk” behaviors or aren’t qualified to donate. Your pulse, blood pressure, temperature, weight, hematocrit, and hemoglobin will be measured. Your blood protein level will be tested as well. A urine sample may also be requested for the physical exam.

All this information on you will be kept in a confidential file and/or computer records. After your first donation, you will be considered a regular donor and won’t need to go through a physical exam. You will need to go through and pass a screening every time you donate. Also, you will asked to read and sign many forms as part of the screening process. These forms are mostly documentation that you know and understand the process and the policies of the plasma collection center.

After you pass the screening and physical exam, you will be sent to a waiting room. You just wait until it is time for you to donate. Bring a book or a music player to keep you occupied while you wait.

Examples of questions that you may be asked during the screening and/or physical exam are:

Do you have any piercing or tattoos? When did you get the piercing or tattoo?

Have you been to prison or jail within a specified period of time?

Have you donated whole blood within a specified period of time?

Have you been treated for any sexually transmitted disease within a specified period of time?

Have you traveled to Europe or Africa?

Are you taking blood thinners or Propecia?

Are you on hormone replacement therapy?

Are you pregnant or nursing?

Do you have a cold, the flu, any open wounds, or boils?

This is a limited list of questions that you may or may not get asked during the screening process.
Donation process
Donors are escorted to a donation room where no eating or drinking is allowed. You relax and lay down on a donation bed during the entire process. Most plasma collection centers have free Wi-Fi, so you can surf the internet.  You can also watch TV, read, or listen to your mp3 player while donating. It is just that easy. A phlebotomist will verify your identity before sticking your vein.

The area where the needle is inserted will be cleaned and disinfected prior to the needle stick. A tourniquet is placed on the arm, that you will be using, and the phlebotomist will insert a needle into your vein. You might feel an initial sting or pinch after the vein stick, but the remaining process should be painless.

The needle is attached to sterile tubing, which is attached to a sterile reservoir, and a sterile collection container, which are all connected to a plasmapheresis machine. The machine cycles your whole blood through the tubing and the reservoir and separates whole blood from the plasma. The plasma is sent through tubing to a collection container and the cellular portion of the blood is sent back to your vein. This is plasmapheresis (separating the plasma from whole blood) in a nutshell. This process happens continuously until the collection container is filled with plasma (600 ml- 880 ml collected, depending on your body weight). At the end of plasma donation, the needle is removed from your vein and a bandage is applied to stop any bleeding.

After you are done donating plasma, you will sent to a reception counter to collect your compensation. The average pay ranges from $20-$30 per donation. This depends on where you are choosing to donate and the center’s payment schedule. You are allowed to donate once every 48 hours and up to twice in a 7 day period. Therefore, you can donate 8 times in one month and make about $200 or more in a month. Some donors whom have rare blood types and antibodies in their plasma make a lot more money for their donations.
Before you donate:
Eat a hearty, healthy meal. 

You will need to have enough food energy in your system to keep your blood glucose levels and energy up. Some people experience dizziness, sweating, weakness, and fainting during the donation process. This can be due to not eating enough food. I can speak from experience and when this happens it is not pleasant. I love eating a large chicken salad before donating.
Drink plenty of water before and after donating. 

Donating plasma removes about 600 ml -800 ml in fluids from your body, so you need to be well hydrated. This will help to speed up the process of donating and keep you from feeling drained. I personally drink a gallon of water and Gatorade on the day before, the day of donation and after the donation. Your body will replace the plasma within 48 hours after donating. Avoid alcohol and caffeine containing beverages because they dehydrate the body.
Avoid greasy foods for at least a day before donating.

Fatty, oily, foods get broken down by your digestive system. Some of the fat molecules end up in your blood. People who eat very fatty foods may have plasma which appears milky or very cloudy during the donation. A plasma center phlebotomist will be monitoring your donation process. If it is noted that your plasma is lipemic, the donation will get terminated and you will be disconnected from the machine. Lipemia is fat in the blood. Lipemic plasma is unacceptable and will be rejected. Depending on the policies at the company that you deal with, you might not get paid anything for your trouble. Some might not pay anything, others might pay a small amount like $5, in this case.
Don’t do things that will raise your heart rate or blood pressure before donating. 

This includes smoking, exercising, and drinking coffee. These activities all stimulate the heart to beat faster and might raise your blood pressure. If your pulse or blood pressure is deemed too high during the screening process, then you won’t be able to donate plasma that day. The plasma center might allow you to make an attempt to donate the following day.
People with certain conditions aren’t allowed to donate.

Under most circumstances, infection with blood-borne and sexually transmitted diseases exclude people from donating blood. If you are pregnant (or recently pregnant), have diabetes, are taking blood thinners or certain other medications, or you are anemic, you won’t be allowed to donate. Rules vary from company to company. As a precaution against spreading disease, the FDA mandates that all blood be tested for blood borne pathogens such as hepatitis B and HIV. Even though the blood is tested, it should go without saying that if a donor knows or even suspects that he or she has a disease, then don’t donate blood.
Make sure you use the restroom before you start to donate.

You will be hooked up to a machine for between 40- 60 minutes. During this time, you won’t be able to use the bathroom. I don’t think there is anything worse than feeling like your bladder is about to burst and not being able to pee.
After you donate blood a few weeks, you will pretty much observe which phlebotomists know what they are doing. Some of the “newbies” might do a painful venipuncture or cause a hematoma (bleeding and bruising of the surrounding tissues). You can request a specific person to do the vein stick. I put some very helpful links below, including an excellent link to a Youtube video that describes the donation process thoroughly.
Sources/ related information:
My experience as a former medical professional and also a plasma donor

This video goes into more detail about donating plasma and plasmapheresis.

 

http://www.youtube.com/watch?v=nkXzG1k2DCI&feature=related

 

You can get more information about donating and find a plasma donation center near you at this website.

 

http://www.donatingplasma.org/

 

http://en.wikipedia.org/wiki/Blood_plasma

This link is more about people who are on the receiving end of therapies, but is interesting, nonetheless
http://en.wikipedia.org/wiki/Plasmapheresis

For additional information, you should also visit the website of the facility you choose to donate at.

Make Money by Scrapping Metals

When I was a teen, my mom and I would sometimes get up early and go out in her station wagon looking for scrap metals.  Some days we made just enough money to cover the gas and buy some food.  Other days, we made several hundred dollars in a just a few hours of work. That was really good money back then!

 

People who were familiar with us would set their scrap metals aside for us.  Sometimes, we’d go about the community with plastic bags and a shopping cart looking for metals. Even some friendly business owners and auto mechanics would give my mom some of the metal parts that they no longer needed.  My father also used to scrap some of the metal left over from construction jobs that he did back then.

 

There were some who would judge and make fun of us. But, most of the times we got the last laugh after selling the metal at the scrap yard.  And, who are they to judge? Like Tupac said, “Only God can judge me.”  The way that I see it is that scrapping metals is beneficial to the environment.  Why not make some extra cash while helping to clean up the community and conserve some energy and resources?

 

Years later, I still save scrap metals but I do it on a small scale.  A few times a week I drive or walk around in my community to look for scrap metal.  I am simply amazed at the good useable things that people throw out. Maybe, they are too lazy or busy to drive down to a church or donate it to charity.

 

They are essentially wasting energy and throwing away money without thinking about it. Some people aren’t aware that the waste management companies have entire departments of employees who sort through much of the trash for material that can be recycled.  They try and salvage as much recyclable material as possible to keep it from ending up in the landfill.  At the same time, they are making the money off of it.

 

If I had a trailer and a pickup truck and more help, I’d be able to haul in more stuff to recycle and sell.  I am also limited by the amount of storage space that I have.  Every time I drink a beverage or use foods from a metal can, I set it aside to recycle. After family get-togethers I collect as much aluminum as I can.   33 aluminum cans equals about 1 pound. All of those individual containers eventually add up.

 

I know a number of fellows who make a full-time income from scrapping metals. Some of them either could not find a job or didn’t want to work for someone else. They are professionals who use a full set of tools and the whole nine-yards for their business.When you get to the point where you do this professionally, you will be issued a 1099 by the scrap yards that you deal heavily with.

Some professional scrappers do bulk scrap hauls and pick up unwanted stuff from people’s homes. They keep the things that are still functional and resell them on Craigslist or eBay.  The broken stuff they find, may be disassembled for the scrap metal and working parts. It is hard work and can be quite physical but can be lucrative for people who aren’t afraid to hustle.

 

If you are thinking about making some extra money scrapping and recycling metals, here are some suggestions:

Never, enter private property to remove scrap metals without permission.  When in doubt, knock on the door and ask the property owner if it is okay to take what you want.  Otherwise, you could be arrested and charged with trespassing and theft.  Be wary of dumpster-diving for metals because it is illegal in some cities.  Know the local ordinances of the municipality where you look for metals.

You won’t have to go very far to find scrap metal as it is abundant in your local community. You can easily find aluminum cans and other scrap metals strewn roadside.

Keep a good pair of gloves, some pliers, screwdrivers and wire cutters with you. You may need some other good tools like a vice grip, wire-strippers and saw, depending on the level of scrapping you plan on doing.

Carry a magnet around to test for ferrous vs. non-ferrous metals.  Aluminum for example, is a non-ferrous metal and it does not stick to a magnet.  Most non-ferrous metals have a higher spot value than ferrous metals.  Whereas you’d probably make about $.45 a pound on aluminum, you’d only get about $.07 a pound on shred steel (give or take a few pennies).

Separate and strip your metals (if possible) before you get to the scrap yard.  You get more money for clean metals. Some metals cost more than others.  Copper and brass are more desirable (and valuable) metals than aluminum and steel.  So, you’ll want to make sure that the metals are properly separated out.

Tips before going to the scrap yard:

If possible weigh out all of your metals. Scrap yards pay sellers based on the weight and the current price of the metal.   By knowing weights and prices of metals ahead of time, you will be able to better calculate how much money you will make from a sale. It will also reduce the chances of getting ripped off by unscrupulous scrap yards owners.  Most businesses are fair in their dealings with sellers but there are some who will take advantage of naivety and ignorance.

Metal prices vary according to the scrap yard and the prices of each metal fluctuates daily.  Check with the scrap yard on what prices they pay for the metals that you want to sell.  Shop around to get the most money for what you sell.

The scrap yard workers may ask for your government issued I.D. and a finger print.  There has been a rise in people stealing A/C units, electrical wiring and other metals. This is to deter people from stealing metal and bringing it to scrap yards.  So, the government and law enforcement is cracking down.

There are other things that can be recycled and sold at scrap yards that people don’t typically think about:

Parts from old T.V.s and computers  (PC chips, motherboards, heat sinks, etc.)

Electrical cords and cables

Plugs- metal prongs

Insulated and clean copper wire

Metal from old appliances

Metals found in windows, screens and doors

Old metal furnishings

Batteries

Broken light fixtures

Broken tools

Old rusting tanks and canisters

Old keys, locks and door handles

Old metal fencing and sheds

And much more- think outside the box!!!

Make money as an information marketer

What is an information marketer (infopreneur)?  It is an entrepreneur who makes money by selling information or educational products or services.  This can come in the form of video, webinars, screencasts, audio mp3 (podcasts), CDs, software, paper books, ebooks, memberships websites, speaking engagements, coaching, consulting, seminars, workshops, etc.  Most information marketers focus their product offering in a specific niche. This is not an all inclusive list of the ways that people make money with information marketing.

Information products have been around for decades.  Think about all of the many infomercials that you are probably familiar with from the 1980s- 1990s, like self-help systems.  Some very popular examples of information products are Tony Robbins’s hugely successful program, “Personal Power II” or Carlton Sheets’s “No Money Down” Real Estate System.

Many of the old school information products were available by mail order catalogs or ordering through a toll-free number.  I can remember a time when “information (and entertainment)” were available by dialing 1-900 or 976 phone numbers.  Millionaires were made out of people who owned these types of hotlines.

This is great time to make money on information products, since the “infopreneur” has more access to people to market their products to.  This is because of the power and reach of the internet.   There are thousands of people who are taking their specialized knowledge, talents and hobbies and turning them into profits.  Some good examples of information marketing at work are the people who actively create and sell their ebooks on Amazon and ClickBank.  Other information marketers choose to build their own niche website and sell their information products there. Many information marketers make a living as affiliates and promote other people’s products and services.

You might be asking yourself if it is possible for you to make money with information marketing.  The answer is a definite “Yes!”. There are some questions and factors that you should keep in mind if you plan to create an information product.

What are your goals and objectives?  Get very clear about what form of information product you desire to produce and what it is that you intend to accomplish (outcome) by creating that product.

What type of message do you want to convey?  You must be able to communicate the information to your audience in a concise and easy to understand manner.  You should provide your target audience with the valued information that they seek.  For example, if your target audience is dog breeders, then you should focus in on providing relevant information that would be extremely useful to dog breeders.

Do your market research and know your audience!  Will anyone be interested in what you are offering?  How eager are people to buy what you offer?  What types of people would be interested in your information product?   It is important that you understand how to find your audience and how to properly market to them.

Be passionate, frank and knowledgeable about what you talking about. You should write (speak) about topics that you know a great deal about/ and or have passion for.  If you don’t know what you are talking about, then the information that you provide will not be very good and your audience will pick up on it.

Let’s suppose that you have very little knowledge on a topic but you still want to get into information marketing.  The good news, is that you don’t have to be a genius or expert to create great content. As long as you have a strong grasp of reading and writing, you are capable of creating great content. The way I see it, you have two choices: You could either go the path of acquiring the knowledge to produce the information product yourself or you can outsource the task and pay someone to produce it on your behalf.

One of the most important things to keep in mind during this process is to enjoy what you are doing and have passion.  If there is no passion in what you do, then you may possibly give up on your project long before it is completed.  And remember: Provide solutions to problems or provide some value.

Product Sources: Where to Find Things to Sell on eBay and Amazon

Where to find things to sell on ebay and Amazon

 

The smartest thing you can do as a beginning seller on eBay or Amazon is to start off small and work your way up as you learn.  Begin with things laying around your home and then build up the volume of your inventory and momentum. Remember to keep an open mind and think outside of the box.  Otherwise, you may miss out on some opportunities. Here are some ideas of where you can source products once you’ve found your niche and you’re ready to step it up a notch or two:

 

  • Auctions (storage auctions, auctions houses, internet auctions): There are several auctions occurring in your local area.  They may be advertised in the city newspapers or in business newspapers.  Sometimes, you can discover scheduled auctions by visiting the websites of the local auction houses and joining their e-mail list.  Commercial storage facilities conduct auctions on the contents of storage units, when tenants become delinquent on rent.  Call up storage facilities to gather more information about scheduled auctions.

 

  • Estate sales– A family or organization may conduct an estate sale in order to clear away the belongings and property of someone who is deceased. The sales usually occur right at the home of the deceased person.  All sorts of stuff is up for grabs at these sales from artwork and collectibles to clothing.

 

  • Liquidations sales/ closeouts– Companies that are going out of business will have massive sales where they get rid of their inventory at cost or very close to it. Some companies will have sales throughout the year on merchandise that is out of season or stuff that’s not selling quick enough for them to continue storing.  It costs money to store things that aren’t bringing in revenue.

 

  • Thrift shops– Most people call this “thrifting”. The process is just like the name implies.  You shop at second-hand stores, like Goodwill for items that you can buy cheap and resell.  This is a really good way to find used books that will quickly sell on Amazon.  It’s also a great place to find vintage clothing, housewares, collectible items and new items, still in the original packaging.

 

  • Craigslist and other classified ads- Check through the ads listed by people wanting to sell stuff at low prices. A lot of these people are really desperate for cash or they are planning to move, so they are in a rush to unload stuff. Once in a while you might stumble upon people who want to give things away for free, also.  There are people who make a great living purchasing broken appliances and electronics, fixing them and then flipping them for a profit.

 

  • Retail arbitrage– Buying deeply discounted at retail stores like Walmart, Target, or Big Lots and then flipping them on eBay and Amazon. The trick is to buy as low as possible and later sell at higher prices.  There are a few mobile apps, like Profit Bandit that make the process of scouting for merchandise easier.  Using price checker apps help you make the decision whether it’s worth it to by an item to make a profit.

 

  • Garage sales – You can find these by searching for upcoming sales online via Craigslist, apps or the local newspaper. There are also a few groups of people on Facebook who advertise sales. The people holding garage sales will usually accept reasonable offers from buyers who haggle and bargain.  Try to arrive early to get first dibs on the good stuff. Bring plenty of change.

 

  • Flea markets and church sales– These are basically the same as garage sales, only the venues are different. Like garage sales, there are opportunities to find high-quality goods.  Some people who hold these sales aren’t aware of the true value of what they are selling.  Others just want to get rid of clutter and free up space and will practically give stuff away.

 

  • Book sales– There are a lot of good deals to be had on obscure books at “Friends of the Library” type book sales. It will take some experience and the help of an app like Profit Bandit to uncover the books that are worth buying.

 

  • Wholesale sources– You need to have a business entity in order to purchase products from legit wholesale sources. This requires a lot of research to target the right market and find the right products. Alibaba is a very well-known wholesale directory resource of products which can be imported from Asia.  But, be careful:  scams exist everywhere.  Including, at reputable websites. There’s no need to waste your money on wholesale directories like World Wide Brands.

 

  • Drop shipping– These are manufacturers and wholesalers which will actually pack and ship the products out to the retailer’s customers.  The major advantage is that the retailer doesn’t need to worry about storing any of the inventory.  I personally do not recommend it as way to source products.  There are many scams and companies that pose as drop shippers but are merely middle-men that charge expensive membership fees for their services.  A seller can run into some serious problems when a manufacturer or wholesaler runs out of a product and puts it on back order. I mention drop shipping here because it still continues to be a popular method of sourcing products, within reselling circles.

 

  • Product creation/Private label products– It requires a large sum investment of money and time upfront, developing your own brand and working directly with manufacturers. It can be beneficial because you can have the same product created in bulk and can make sales of the same product in volume.  This can be risky if you don’t do proper research and don’t know what the hell you are doing.  The last thing that any seller wants, is to accumulate thousands of dollar worth of inventory that doesn’t sell. Private label creation should be left to experienced resellers, with lots of capital to risk.

 

  • eBay– Yes, you’ve read this correctly. You can find sellers offering merchandise at wholesale on eBay.  There are also sellers who auction merchandise there in lots at very cheap rates.  These items can be resold on Amazon or eBay, provided that they are in demand and purchased at a low enough price.

 

© Copyright 2014  Susan Broadbelt

 

Can You Make Money Investing in The Financial Markets?

Disclaimer:  I am neither a financial planner, nor an investment guru.  So, don’t take anything that you read here as professional advice on investing.  As always, do your own research!!!

Although it is much more expansive, I use the term financial markets here to refer collectively to equities (stocks and mutual funds), futures market, Forex and bonds trading. The simple answer to this question is “yes”. However, the ability to make money through these avenues comes with many risks. If you don’t know what you are doing, then you open yourself up to more risks and the probability of losing money increases exponentially. Therefore, I highly encourage new investors to get a solid financial education and a thorough understanding of investing before taking risks with real money.

I’m very much like most people who grew up in the United States. There were periods when my family fluctuated between poor/working-class and lower middle-class. While I was growing up, I didn’t get the benefit of a firm foundation in financial education.

My parents don’t have much formal education. In their younger years, my father was a self-taught, skilled tradesman/construction contractor, who owned a small business. My mother worked mainly in retail, domestic housekeeping and care-taking.

They definitely knew how to hustle and make money. They taught us all a good work ethic by example. The problem is that they didn’t understand how to manage the money they earned and grow it. So, this knowledge (or lack thereof) was passed down to their children like genetic material.

I had to teach myself how to balance a check book and set up a budget in my late teens. Personal finances and retirement were rarely, if ever discussed in my family.

So, my financial markets education began in the mid-1990s. This was at a time when mail-order catalogs and brochures were extremely popular and before the internet blew up. I received a pamphlet in the mail from The Ken Roberts Company in Oregon. The pamphlet was a story about how Ken Roberts became a millionaire in real estate and later through trading in the commodity futures and options.

I was so intrigued by the brochures that I decided to take a chance and order a course which he offered for $195. It was called TWMPMM (The World’s Most Powerful Money Manual & Course) which was a futures trading course from the Ken Roberts company. Futures markets deal mostly with the purchase and sale of contracts on underlying commodity assets. Commodities are basically raw materials and things that people need in order to subsist such as oil, natural gas, metals, sugar, corn, wheat and pork bellies.

There are also futures markets for currencies like Eurodollars. Futures trading takes place at exchanges around the world. The most well-known exchange for commodity futures and options trading in the U.S. is the Chicago Board of Trade. The market is so much more diverse now than when it was back then. Now, people are trading derivatives on real estate, stocks and bonds.

The traders who invest in futures are speculating on whether the prices of a commodity will either go up or down at a point in the future. Traders who buy a futures contract (go long) are expecting to profit off an increase in price on the commodity. Traders who sell (go short) a futures contract are expecting to profit off of a decrease in the price on a commodity. Farmers use commodity futures and options investing as a hedge (or insurance) against loss in the agriculture industry.

Obviously, the futures market is more complex than what I discuss here. I say all of this to explain a bit about what the TWMPMM & Course taught. The box set included a VHS tape, a manual and a hardback copy of The Richest Man in Babylon, the classic by George S. Clason.

TWMPMM & Course takes you by the hand and provides very basic information on how to interpret some of the patterns in price charts through technical analysis. Some patterns such as 1-2-3 tops and bottoms, are signals to help traders decide when to buy and sell futures contracts. A few months later, I decided to purchase TWMPMM II: an expensive set of options trading VHS tapes from the Ken Roberts Company.

I did learn a great deal about this subject but the funny this is, I never acted on those specific teachings. I spent several months updating the price charts and paper trading (following commodities that caught my eye without investing any money). Had I invested real money on some trades I would have made a lot of money on Gold and lost money on other commodities.

Price of Gold 1996 futures chart
Price of Gold 1996 futures chart

 

Price of Gold 2012 futures chart
Price of Gold 2012 futures chart- See how much it when up in price?

 

The end result was that I decided that this route to making money in the financial markets was too risky and volatile for me. The prices of commodities are subject to wild fluctuations, even with limit moves in place. This is when the price moves up or down substantially in a very short period of time. I didn’t feel assured in making investment decisions by relying solely on patterns in price charts. Also, futures trading is heavily leveraged through margin accounts. This is another thing that I didn’t feel comfortable with. You can actually lose more money than what is in your margin account through investing in futures.

Now don’t get me wrong: there is definitely money to be made in futures commodity investing. But, it is not for the faint of heart. This path to investing is not for people who are averse to risk. And you should never risk funds that you can’t afford to risk.

I don’t regret plunking down the money for those courses, because it was a fascinating introduction to the world of investing. In a way, I thought that the information in TWMPMM was just a good general overview, just scratching the surface of futures trading. It was not nearly enough for a student to become a professional trader. However, I consider the money that I spent on the courses as an investment on my education. It exposed me to a different way of thinking. The course material served as a springboard to furthering my studies of financial markets. It made me more aware of the opportunities that existed to make money.

I even got fancy and subscribed to the “Wall Street Journal” to keep current with the news in the financial markets. I think that I must have read about 3 or 4 books written by Suze Orman alone. I did also read some beginners books on investing, namely learning more about equities, such as stocks and mutual funds. I’ll get into this more in another post, but the first ever investment that I made entailed the purchase of stock and bond mutual funds from within my 401k retirement account.

Make Money By Answering Questions with WebAnswers

make money answering questions on WebAnswers

Do you like to write? Do you enjoy trivia? Do you consider yourself to be a fact junkie? Then you could make money by asking and answering questions at WebAnswers. This is a website very similar to Yahoo Answers.   The main difference is that WebAnswers is a revenue sharing website and their members get paid for participation. It is free to register and ask questions.

Members get paid through Google AdSense.   Members can either set up a new AdSense account through WebAnswers or link to an existing AdSense account. New members need to answer at least 50 questions before they are eligible to link their AdSense account to WebAnswers. Once there is $100 or more accumulated in the AdSense account, the member is paid by Google.

 

More detail about AdSense Earnings on WebAnswers

Quality Score

Each contributing member is given a Quality Score rating. The more thorough and accurate answers that you provide, the higher your Quality Score will be. Quality is much more important than the quantity of questions answered.   Quality Scores get a boost when answers are lengthy (not just a few sentences), logical, and written in proper English grammar and spelling.

 

WebAnswers does not reveal exactly how they determine members’ Quality Scores. They won’t divulge the intricacies of the Quality Score system, since they don’t want any members attempting to manipulate the system. It is safe to say that your Quality Score is heavily impacted by level of participation and the quality and completeness of answers.
There is a direct correlation between Quality Score rating and the amount of money you will make. WebAnswers tend to show more ads with a member’s AdSense ID when their Quality Score rating is high. This translates into more AdSense impressions compared to members who have a lower Quality Score. More page impressions increases the possibility of more AdSense clicks on a member’s AdSense ads.

 

In order to get the most out of WebAnswers, you will need to be very active and participate regularly. Successful members stick to answering questions from topics where they are knowledgeable. The members who make the most money are the ones who provide very thorough, detailed answers to several questions per day. It goes almost without saying that members who participate seldom, do not make as much money as the most active members. So, quantity, quality and consistency are very important to the Quality Score rating and earnings potential.

 

Awarded Answers and Adsense earnings

When someone asks a question, they have the option to “award” one person who posts an answer to their question. The Awarded Answer is the answer that the asker chooses as the best answer.

A member makes a percentage on of the AdSense revenue from webpages displaying their Awarded Answers. The asker also earns a percentage of the adsense revenue until the question gets an awarded answer.

 

As mentioned before, members are paid through AdSense. The amount of money earned is based on factors such as the number of clicks to your AdSense ads, the number of page impressions, CPC (Cost per click), and eCPM. Certain advertisers are willing to pay more money per click from the ads that display on WebAnswers.   Ad categories such as Health, Legal, Finance, Beauty tend to have higher AdSense CPC (cost per click) and eCPMs.

 

Please understand that you aren’t allowed to click on your own ads or ask others to. This will get you kicked off WebAnswers and banned from the AdSense program. WebAnswers doesn’t tolerate plagiarized content on their website. Plagiarism could result in termination of a user’s account.

 

Copying and pasting is not allowed. They use a software which detects when users have copied and pasted a group of text from somewhere, even word processing software. Any posts containing copied and pasted text will be flagged and checked by moderators for plagiarism.

 

How much can you earn on WebAnswers?

Don’t expect to make big money on WebAnswers. There is no real way of knowing how much money you will make on WebAnswers, because of the unpredictability of AdSense revenue. Some members are able to earn several hundred dollars per month. What I gleaned from reading forums and responses from members, is that the average member makes about $50-$150 per month by answering a 5-10 question per day. This is just a rough estimate, because people aren’t allowed to give exact figures on their AdSense income and CTR’s.

 

Also, WebAnswers shows member’s ads on different pages through out the website- not just on Awarded Answer pages or questions asked. They don’t tell members where their ads are shown. As far as I know, you can’t track your earnings in Google Analytics. So, it is pretty difficult to tell which webpages are earning more money.

You can also make money by referring traffic to WebAnswers and others to join WebAnswers.

Cons of WebAnswers:
Some of the members who ask questions take a very long time to award answers or never award answers. Each member who participates in answering a question, will receive AdSense impressions on a rotated basis until the question is awarded. The more people who answer a question, the more dilute the earnings potential of the question. So, if 30 people answer a question the asker and all 30 of the members who’ve answered the question will have their AdSense ID rotated on that webpage until an Awarded Answer is selected.

They don’t like for people to put links in answers, especially affiliate and self-promotional links. Therefore, posts that contain links are flagged by their system and moderated. It is a measure taken to reduce spam.

Google has removed their ads from WebAnswers quite a few times. I am not sure why this happens and it could be due to many reasons. My guess is that Google may find some posts on the website that they don’t think are appropriate. When this occurs all members lose AdSense revenue until Google decides to reinstate WebAnswers‘s AdSense account. The last time that this happened the ads were gone for nearly a week.

 

Their support forum for members is not very active. It is supposed to be a place for members to voice their concerns in an organized fashion. The members seem to prefer to just post direct questions and concerns through WebAnswers. That’s okay, but I think it would be easier for members to access this type of info in the dedicated support forum. The owners of the website don’t seem to be very active over there. Since I joined, I haven’t heard any updates from them, including when problems arise.

 

One thing that should be pointed out is that WebAnswers is not open to people in all countries. Check the terms of service to find out whether you are eligible to register.

 

I am a firm believer in not putting your eggs in one basket, so I spend just a few days a week there. I do it to keep my participation levels up and my account active.  Some people complain that as their participation drops, their earning levels and AdSense impressions decline.  Another thing that I should add is that once you submit content to WebAnswers, you lose copyrights to what you publish there.   So, be sure to keep this in mind.

 

I joined WebAnswers in March 2014 and expect good things from them. I plan to experiment with it for some time and see what develops.