Random musings: Could you use an additional $1,000 a month? #TBT

Today's blog post was originally published two years ago:

Silly question! I'm sure most of us could use an additional $1,000 every month.

But how?

There are quite a few ways:

If you work full time, you could ask your boss for a $5.77 an hour raise
You could find a different full time job that pays $5.77 an hour more
You could take on a part-time job. In California, the minimum wage is $11 an hour, so if you work 21 hours a week at a minimum wage job you could make $1,000 a month.
If you have a quarter of a million dollars lying around, you could put $240,000 of it in a savings account that pays 5%

5. Or you could take this friendly advice;

I've seen this attributed to John D. Rockefeller also

Number 5 is based on starting your own home-based network marketing business, where you can often earn more than 1% on each person's efforts. Plus, it's the only one that allows you to write off certain expenses on your taxes, so you'll also save money!

Since I'm familiar with SendOutCards, I'll use them as an example. Although other companies are similar.

SOC is based on a Paid4 plan. We'll use the $97 a month subscription as an example since it's the middle plan plus it's the recommended plan if you're seriously interested in having a business.

With the Paid4 plan, the idea is to sign up 4 other people on the same subscription as you. In our example, you plus four others at $97 (5 * $97) equals $485. You earn 20% of everything that you and your customers spend, which is $97...so, your subscription is paid for.

Of the $485, $97 goes to you and $310 (called volume), goes to pay the people above you in the pay plan. The rest goes to the company ($78).

During your search you may come across someone who wants their subscription Paid4. They will then earn 20% on their, plus their customers', subscription and you will earn 2% on their volume (2% of $310), or $6.20. Not enough to get excited about yet. But you now have a total of $620 in volume in your organization (you plus one other Paid4 subscriber), which means you get a 5% raise! You now earn 7% on any new referral partners (Paid4 subscribers) and their volume. When you get a total of $3100, you'll get another 5% raise to 12% and you will have earned 7% on $2,480 (the difference between the original $620 and the $3,100 for your next raise) or $179.80. Still not much to get excited about. But once you get to $10,000 in volume (a total of about 33 Paid4 subscribers in your organization including you), you'll be earning over $1,000 a month ($6.20 + $179.80 + $828.00 = $1,007.80).

At $10,000 in volume, you'll earn 17%, at $50,000 you'll earn 22% and at $100,000 you'll earn 27%. This is based on the total volume in your organization...your volume plus your customers' volume, plus every referral partner that you bring in, plus every RP that they bring in...down to seven levels!

Also, when you're trying to find additional RPs at each step in the progression (you need to bring in at least one new RP at every step), you'll probably also bring in additional customers at $19.40 each ($97 for every five customers), which also is included in your total volume. Not every customer will come in at the $97 level...some will come in at $17/month and some will come in at $147/month. You'll receive 20% on all of these as well as 20% on any cards purchased in free accounts. Plus, you'll get commissions on any gifts that are purchased!

To get to $1,000 per month of income will take some time and some work, but the work is pretty simple and the time is fairly minimal (especially when compared to 21 hours a week for a part time job).

To get started it costs $59 a year to become a Referral Partner. You don't need a $97 subscription right away...you could start with a free account (not recommended) or a $17 a month account. You can upgrade to $97 a month when the time is right, and I can help you determine that time. Just email me, and I'll help you get setup.

To find out more, go to www.sendoutcards.com/144087 and click on Pricing.

The numbers have changed quite a bit in the last two years, although the concept is the same. I'll update the numbers next week.