- Dora the Explorer is singing about cocaine. Is that why my kids have so much energy? #
- RT @prosperousfool: Be the Friendly Financial “Stop” Sign http://bit.ly/67NZFH #
- RT @tferriss: Aldous Huxley’s ‘Brave New World’ in a one-page cartoon: http://su.pr/2PAuup #
- RT @BSimple: Shallow men believe in Luck, Strong men believe in cause and effect. Ralph Waldo Emerson #
- 5am finally pays off. 800 word post finished. Reading to the kids has been more consistent,too. Not req’ing bedtime, just reading daily. #
- Titty Mouse and Tatty Mouse: morbid story from my childhood. Still enthralling. #
- RT @MoneyCrashers: Money Crashers 2010 New Year Giveaway Bash – $7,400 in Cash and Amazing Prizes http://bt.io/DDPy #
- [Read more…] about Twitter Weekly Updates for 2010-01-16
Make Extra Money, Part 5: Domains and Hosting
In this installment of the Make Extra Money series, I’m going to show you how to pick a domain and a host.
If you remember from the last installment, I’ve decided to promote The Master Wedding Planning Guide. Since then, I have bought the product and read enough to decide that’s it worth promoting. That is the secret to ethical internet product. Never promote a crap product. Now, when I bought the Guide, I used my own affiliate link, so the $37 product will have cost me about $13, once the commission check comes through. You can’t do that just to get a discount because Clickbank has measures in place to ensure that you are actually selling products.
Domain Name
The first thing we need is a domain name.
You can skip this if you want to host on blogger, but I wouldn’t do that, unless $10 is a major financial hardship. I dislike the idea of leaving everything in Google’s hands. Even if you use blogger for hosting(discussed later), pop for the domain name. That way, if you change your mind about hosting, you can move without losing everything.
Where should you go for your domain name? I use NameCheap and GoDaddy. I try to divide my domain names across each of the providers so all of my sites don’t look identical to Google. I may be paranoid, but it works for me.
Before you order, hit Google for a coupon code. Search for “namecheap coupon” or “godaddy coupon” and save some money. GoDaddy is offering $7.49 domains.
How do you pick a domain name?
I try to pick something that matches the product name, or the product’s site. In this case, the product’s site is http://www.masterweddingplanning.com and http://www.masterweddingplanning.net was available, so I grabbed it. I would have been happy with .com, .net, or .org. I won’t touch a .info domain. They are generally cheap, but they cost more to renew and people assume they are spam sites.
If the exact match domain isn’t available, I look for exact matches for the product. If that’s not available, I stick other words at the end that would be attractive to people looking to buy a product.
Acceptable domains would include:
- http://www.masterweddingplanning.org
- http://www.masterweddingplanningreview.com
- http://www.masterweddingplanningguide.net
- http://www.masterweddingplanningreviewed.org
Or nearly anything along those lines. Other good words to attach would be “revealed”, “exposed”, or something similar. Just put yourself in the shoes of a buyer. Would the domain name look like something that could help you decide whether or not to buy a product?
Hosting
Your host is where your website lives. Without a host, you can’t have a website.
When it comes to picking a host, you have some choices to make.
First, do you want to go free or paid? Free sounds great, and if money is tight, it’s not a bad choice, but it does limit your options.
If you’re going free, you’re going with Google’s Blogger. WordPress.com’s hosting eliminates your advertising options, as does almost every other free host. I do know of a couple of free WordPress hosts that will let you run ads and advertising campaigns, but the performance is horrible.
Another problem with using Google is that they can decide your site violates their Terms of Service and shut it down. It shouldn’t happen, but it’s not unheard of with affiliate marketing sites. If you go this route, plan to move to paid hosting when you start making money.
That leaves us with paid hosting.
There are a ton of hosts out there, but only three I have personal experience with.
I won’t use GoDaddy for hosting. I’ve never been happy with their technical support.
I have most of my domains on HostGator (c0upon code: HOSTINGBUDDY). I’m happy with them. Performance is good and the customer service is excellent. Their hosting packages start at $3.96 per month.
I also have a hosting account at HostTheName. I got that because, using coupon code “STARTUPWARRIOR”, hosting prices get down to $1 per month. At $36 for 3 years, I couldn’t turn it down. Initially performance was rocky, but they’ve upgraded and it’s good, now.
Once you’ve created your hosting account, you’ll need to go back to your domain name registrar and set the name servers. At NameCheap, after you log in, you’ll go to Domains > Manage Domains and click on the domain name. From there, click on “Domain Name Server Setup” on the left of the screen and enter the custom name server information listed on your hosting account.
When that’s done, go to your hosting account and add the domain. If you’re creating a new hosting account, this will be your main domain and the hosting company will ask you for the information during setup. If you’re adding this to an existing hosting account, log in, look for “Addon Domains” and follow the prompts.
At this point, you’ve chosen a product to promote and keywords/search terms to go with it. You’ve chosen and registered a domain name and you’ve set up a hosting account to hold your website. Next time, I’ll walk through setting up a WordPress site to make some money.
Any questions?
How to Maximize Your Income and Reduce Your Expenditures
If the past few years have taught us anything, it’s that we need to be taking out less debt and building up more savings. And certainly, it’s where the public seem to be heading – levels of mortgage overpayment and personal savings have rocketed in the past year amongst those who have the luxury of being able to put income aside.
For many of us though, finding money to save is a real struggle. After the bills and living costs are taken out of a monthly salary payment, there’s not always a lot left to play with. So what do you do?
The answer lies in getting tough with yourself, carrying out a review of your current spending patterns and working out a sensible budget. Essentially you need to both maximise income and reduce expenditure – both sides of the coin. There are plenty of ways to do this when you start thinking, so be creative and start thinking outside the box.
Here are a few top tips to get you started:
Ask for a pay rise – it seems like an obvious option, but so many of us never do it. Take a look at the market and see what similar companies are offering for your job role or profession. This will give you an idea of whether you’re currently being paid enough for your skills level and experience.
Ask your manager in a calm and prepared manager and come with facts and examples to back up your request. If the request is turned down, try again in a few months time, with more evidence. Also, ask HR for advice about your job salary banding and progression, so you show that you’re serious.
Get a new job – the obvious option when your pay rise request is denied. You may find that you can earn more elsewhere in the same profession, or flex your skills into a new career entirely. See a professional careers advisor for guidance.
Get a second income – more people than ever are opting for this route, by becoming self-employed on a part time basis. There are numerous industries that rely on an army of part-time staff, often self-employed. Examples are party-planners, sales people, freelance designers, coders, copywriters and researchers, market researchers, bar and restaurant staff and plenty more.
Take in a lodger – if you have a spare room, then the government allows you to take in a lodger without paying tax on rental income (up to £4250 pa.) This can be an effective way to make the use of your home to bring in income. Do your research first though on how to select the right lodger and make the relationship work.
Look for opportunities to earn – examples include signing up for overtime during busy periods at work or selling unwanted items on eBay. You could also sign up with the local council to count votes during election period, or help steward at large events. There are various agencies offering links to such opportunities if you search online.
On the other side of the coin lies spending reduction. This is a bitter pill for some to swallow, but there really is no point in earning more if you’re not going to make good use of it!
Food shopping – when it comes to food shopping, start using grocery coupons/vouchers and sign up for reward schemes. Downgrade your brands when you’re out shopping, so that you save money on you shop each time. Look at bulk buying offers, local grocers, markets and other opportunities to slash monthly grocery bills.
Travel – identify ways to save on travel, firstly by walking when a journey is a mile and under. If you’re doing this regularly you’ll save on petrol and you can cancel your gym subscription! With train tickets, book well in advance to take advantage of special deals and with holidays, look for cheap holiday offers and promotions via online search sites – these check the whole of the market to find the best prices and options for your requirements. Holiday extras such as car hire and airport parking can also usually be arranged via these online travel sites so be sure to compare prices to save yourself some money.
Clothes shopping – instead of shopping expensively on the high street, channel your passion for fashion into eBay. Many of your regular brands will be on there already and you can sell last season’s purchases to make way for the current season of items. Get savvy with bids and set yourself limits – you’ll find some great bargains if you’re clever about it!
Entertainment – when it comes to entertainment, sign up to group buying schemes for special offers and look more broadly in your area for things to do that don’t cost a lot of money. Things like local leisure centres, museums, parks, libraries, city parades and exhibitions are often free or subsidised by the council and you can enjoy time with the family without spending a lot of money on more commercial entertainments.
Hobbies – rather than taking up yet another expensive sport that you’ll buy all the equipment for and then never see through, find low cost hobbies to enjoy and cultivate. Walking or running, painting, music appreciation, gardening, racket sports, debating groups, local social clubs – all of these can be enjoyed without necessarily parting with too much cash. And it will broaden your horizons too – thinking more broadly about what counts, such as spending time with loved ones, rather than throwing money at free time like there’s no tomorrow!
This post brought to you by MoneySupermarket.
Saturday Roundup: Evil Dead
- Image via Wikipedia
Last night, my wife and I went to see Evil Dead: The Musical. I’m a die-hard zombie-movie fan, and the Evil Dead Trilogy is among my favorites. I don’t recognize a difference between Candarian demons and zombies, so it still fits the genre.
The musical beats either of the first two movies, hands down. I was rolling. If you are in the Minneapolis area tomorrow, check it out at the Illusion Theater. If you are elsewhere, watch for it. It’s entirely worth the time and money.
Best Posts:
Sometimes, shopping can save you money, but don’t let it get out of hand.
I’ve never had food poisoning, but my wife has. It was unpleasant.
Bacon soda. Yum. No further comment.
Bad marketers. No donut.
Carnivals I’ve been in:
AAA – Save Some Cash was included in the Festival of Frugality.
The Spending Styles of the Rocky Horror Picture Show was included in the Carnival of Personal Finance.
Crack was included in Foodtastic Favorites.
If I missed anyone, please let me know. Thanks for including me!
4 Ways to Change Your Finances for the Better
Finance is made out to be difficult, but it’s really not. All financial advice really boils down to 2 sentences: “Spend less than you earn. Save or invest the rest.” Everything else is an unnecessary complication, unless you need to be told that commemorative plates aren’t actually an investment. Unfortunately, we’re all people. (Except for you in the back. I see you, and you are not people.) People make mistakes. People sometimes need things spelled out, or at least explained in a way that makes it seem less intimidating to get started.
With that in mind, here are four steps that will get you out of debt and, over a long enough timeline, make you rich:
1. Lower your interest rates. If you’ve got debt, particularly credit card debt, you’re paying too much interest. It doesn’t matter what the interest rate is, it could be better. It’s time to pick up the phone and politely ask your credit card company to lower your interest rate. If they refuse, mention that their competitor is offering you 3% interest on a balance transfer with no transfer fee. Mention a competitor by name, but don’t worry about a specific offer. There are always offers being tossed about.
If they won’t lower your rate, find a company who will. 5% on a 10,000 balance is $500 per year. That’s 3 months of payments for free.
2. Lower your monthly payments. Do you have a cable bill? A phone bill? Any other bills? Put them in a stack and call them. Every. Single. One. Ask if there is any way you can lower your bill. Can you get put on a new customer promotion? My electric company offers a saver switch for my air conditioner that will lower my bill by 15% just for giving them the ability to toggle my AC on and off. When we had that installed, I never noticed it in use.
3. Save $1000. When you’ve got no money, every unexpected expense is an emergency. When you’ve got a little bit socked away, you can ride out the problems without much worry. $1000 may not be enough to ride out an extended bout of unemployment, but it does a pretty good job of taking the sting out of car repairs. Do whatever you have to do, but get some money in an emergency fund. Then, don’t touch it!
4. Categorize wants and needs. I want a vacation. My kid needs braces. I want a big screen TV. My gas bill needs to get paid. I want a new car. My family needs food. Are you sensing a theme? Pay attention to what you spend. Ask yourself if it’s something you need, or just something you really, really want. Just the act of categorizing it can make it easier to avoid buying whatever it is.
5. Use the savings from 1-4 to pay off whatever you owe. Don’t blow your new-found savings on spinner rims or soap made from rich-people tallow. Use it to finally get ahead of the game.
Refinancing Through the HARP Program
HARP Refinance
If you owe more than your house is worth, and want to refinance to today’s low interest rates, you need to check out the HARP program. Millions of homeowners with underwater homes are finding relief in a new version of the Home Affordable Refinance Program (HARP). Refinancing to lower interest rates could slash your monthly mortgage payment or shorten the time it takes to pay-off your mortgage.
The new HARP loosened qualification rules, making it it easier for underwater homeowners to qualify for a refinance. When HARP 2.0 was released in November 2011 you had to work with your original lender. Since March 2012, when Fannie Mae and Freddie Mac rolled out the automated underwriting systems, you can work with any participating HARP lender. That means more competition for your business and better rates for you
HARP 2.0’s Hurdles
There are two series of hurdles you must clear before you can refinance your loan under HARP 2.0. The first set of hurdles concerns the loan itself. The three key eligibility questions are:
- Is the loan owned by Fannie Mae or Freddie Mac?
- If so, was the loan purchased by Fannie or Freddie on or before May 31, 2009?
- The loan was not refinanced under HARP before (some exceptions apply).
If you answer yes to these three questions, then your loan may be eligible for HARP.
Tip: If your loan is a FHA loan, then check out a FHA streamline refinance loan.
The second set of hurdles concerns your finances and property. Fannie Mae and Freddie Mac set up the basic guidelines. There are two basic ways your loan can be processed:
- Manual Underwriting System: Only your original lender (who is also your current servicer) can process a HARP loan through the manual underwriting system.
- Automated Underwriting System: Any participating lender can process a HARP loan through the automated system.
Keep in mind that lenders are free to have stricter qualifying rules than the basic Fannie and Freddie requirements.
When shopping for a HARP loan, here are some of the main points to look out for:
- Credit Score Requirements: Fannie and Freddie have no minimum FICO score requirements. However, each lender has its own credit score requirements, so if you are denied by one lender, keep shopping.
- Income Requirements: Your original lender can approve a loan with no debt to income ratio (DTI) requirement. However other lenders must qualify you based on your DTI. The rule-of-thumb for a HARP loan is a 45% maximum DTI.
- Timely Mortgage Payments: The HARP program allows for no late mortgage payments in the last 6 months and one late (30 days) payment in the preceding 6 months. However, some lenders do not allow any late payments.
- Investment Properties Qualify: You can refinance a second home or rental property under HARP 2.0.
- Fees: Lenders are not consistent in the fees or the interest rates they charge for HARP 2.0 loans. Some lenders charge a few hundred dollars for HARP 2.0 loan fees, and others charge thousands. It pays to shop around, so you can compare interest rates and fees.
- Condos: While HARP guidelines for condos are tricky, many more condo owners will qualify for a loan under HARP 2.0 than under the first version of HARP.
Applying for HARP
First, go to the Fannie Mae and Freddie Mac Web sites to learn if either owns your loan and whether they bought your loan on or before May 31, 2009. If so, you can contact either your current mortgage servicer or shop around with the many lenders who are offering the HARP 2.0 loan.
If your application is rejected, ask for the specific reason why. If you applied with your original lender, find out whether the lender used the manual or automated system. Request manual underwriting if your original lender turned you down based on automated underwriting, as it may result in your loan being approved.
It pays to shop for HARP 2.0 refinance. Many homeowners report one lender will reject their application, but another will offer them an attractive refinance. Second, lenders are not consistent in their offers. As mentioned, closing costs are all over the map. Interest rates vary, too.
Summary
HARP 2.0’s rules are technical. Each lender creates different overlays. If you believe you qualify for HARP 2.0, be persistent! The rules that are in place today could very well be expanded in the future. This is one instance in life where shopping can be the solution to your problem.
