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Thursday, 30 June 2011

Income Report June 2011

I am really excited about writing this post and will be my first official income report for my residual income efforts. Just before I start to reveal the numbers I just wanted to explain the purpose of this blog as the name may be confusing for some of my esteemed readers. Covering the mortgage was created to document all my progress and efforts to generate passive income so I can meet my monthly mortgage payments. I currently pay £430 per month which is equivalent to $716, paying this amount every month is such as burden and my plans are to pay the monthly mortgage amount using passive income. If I am successful and start making a decent stream of residual income then my next target would be to pay the entire mortgage off but that is a long way away.

Income Report June 2011

I am really excited about writing this post and will be my first official income report for my residual income efforts. Just before I start to reveal the numbers I just wanted to explain the purpose of this blog as the name may be confusing for some of my esteemed readers. Covering the mortgage was created to document all my progress and efforts to generate passive income so I can meet my monthly mortgage payments. I currently pay £430 per month which is equivalent to $716, paying this amount every month is such as burden and my plans are to pay the monthly mortgage amount using passive income. If I am successful and start making a decent stream of residual income then my next target would be to pay the entire mortgage off but that is a long way away.

For the Month of July I made £102.55 which is roughly equivalent to $170. I have outlined the breakdown below.

Webanswers £35.77
Xomba £30.07
Infobarrel £22.96
Cold Sore Remedies Niche Site £2.91

Webanswers


I started using webanswers from the 14th of May 2011 and have answered 361 questions on topics such as health and investment. On average I answered 8 questions per day and earned £35.37 for the month of June. I really like webanswers and believe it has potential to make me at least £100 per month which is my ultimate target. I have learnt that the more active you are the more money you can make. Most of the income comes from unanswered questions and page impressions are distributed by the amount of people who answer. The better the quality of your answer the more impressions you will get and more likely you are to earn. 

What I have learnt from Webanswers
- Only answer questions you are able to answer and always add value.
- Make the answer as helpful as possible
- Answer questions which have high views which means there is some SEO juice coming through

Targets For Webanswers
- Answer at least 20 questions per day on high paying subjects you are able to answer and add value to.
- Try and add as many pictures to my answers as this may impact on earnings.
- Consider outsourcing some of the questions so I can increase the amount answers under my belt.

Xomba



Xomba has been another great source of revenue for me. I have about 50 articles and 1000 bookmarks and have generated £30.07 which is roughly equivalent to $50. Unfortunately Xomba has blocked my account without giving me any reason whatsoever. I have emailed the CEO of Xomba Nick Verenis for an answer and it has been 2 weeks and I have not been given a response. I will continue to keep chasing them for an explanation as I invested 2 months of my time there and it is not fair for them to take the earnings away from me. Xomba is a great site however I fear they are becoming more and more like Ehow and treat their community unfairly. I shall keep you updated on what is happening here.

Infobarrel

I have 196 articles on Infobarrel with very little backlinking or promotion. I have earned £22.96 which is roughly equivalent to $38 which is great. I now want to use my existing articles and make them earn as much money as possible. My ultimate goal here is to generate £100 per month which would be a fantastic achievement. My plan now is to get my 10 highest earning articles and then add pictures to them. For every picture added on your Infobarrel article you also create a media page which has adsense ads sprinkled on. So If I get my 10 highest earning articles and add 3 pictures on each one I will have a 40 pieces of content all with adsense ads on them which should increase my earnings. Many writers on Infobarrel such as Chezfat and Godfather have reported success using this method and I want to see if I can emulate them. I also want to create 10 backlinks for each of my best earning articles to see if this impacts on my earnings. even if I can reach £40 per month using these strategies for July I will be more than happy.

Targets For Infobarrel
- Add media to my highest earning articles.
- Add 10 backlinks to my highest earning articles.

Cold Sore Remedies Niche Site



My niche site has started to progress too which is all about Cold Sore. The keyword that I have been targeting is cold sore remedies. Although it is early days and this is completely new to me I have made approximately £2.91 and have 19 pieces of indexed content and I am currently at position 76 on Google search engine results which I am happy with. Earnings will rise with quality content and backlinking which I am planning to do in July. 

Targets For Cold Sore Remedies HQ Niche Site
- Add another 30 pages of quality content.
- Implement first layer of backlinking 
- Promote the content on forums 

It has been a really busy month for me and if I can generate another £100 for July I will be more than happy. I have achieved 20% of my ultimate goal of paying my monthly mortgage payments using passive income and with continued effort and determination I hope to be achieving 100% of mortgage payment. As always I like to leave my posts with sore sort of quote that really catches how I feel so here goes.

Little minds are tamed and subdued by misfortune, but great minds rise above them. - Washington Irving


Monday, 27 June 2011

My 30 Day Challenge To Make My Infobarrel Articles Earn More Money

I am into residual income in a big way and the purpose of this blog is to generate enough income from the internet to pay my monthly mortgage payments. At the moment I am targeting £430 which is my monthly mortgage payment amount and I am generating about £100 per month through the internet which I am really happy with because I have achieved 20% of my target. Ultimately in the long run I hope to pay off my entire mortgage with the money I generate passively.



Sunday, 26 June 2011

Is Xomba Really Worth It? Review - Earnings - Experience

Anyone who has previously read my posts will know that the purpose of Covering The Mortgage is to generate passive income from the internet to pay my monthly mortgage payment. I pay about £430 per month and at the moment I am generating £100 per month and Xomba is making a large contribution to this.

I came across Xomba in 2008 because I had read a review on how people were making a decent amount of money writing articles and receiving money for adsense clicks. Xomba is a revenue sharing website which shares its revenue 60:40 where the member receives 60%. I started writing for Xomba in 2008 and after writing about 20 articles I was making about $5 per week which was not bad at all. I then stumbled across an Xomba article where the writer was claiming to make $3000 per month and the owner of the site Nick Verenis had confirmed this. The name of the writer was Dedom and he was offering to share his secrets if I joined under his username which I did.

My Niche Site Development Plan Using Pat Flynn's Strategy


Anyone who follows my blog will know that I want to generate passive income so that I can make my monthly mortgage payments. At the moment my mortgage payment is around £430 and I am generating almost £100 per month here which means I have achieved 20% of my goal. I am really happy with my progress however I don't want to take my feet off the gas. I have written articles on Xomba and Infobarrel and I answer questions on Webanswers however the place I really want to make money is on my niche site.
I was inspired to build a niche site after I followed the progress of the Niche Site Duel between top bloggers Pat Flynn and Tyrone Shum. They challenged each other to to create a niche site from scratch and take it to the top of Google search engine results. I followed the progress they were making and was amazed at the strategies they used to achieve their goals. At the moment Pat Flynn is earning about $1000 per month from his site and this is something that I really want to follow.

Saturday, 25 June 2011

My Challenge To Create Time For Passive Income

The purpose of this blog is to generate passive income which I will use to pay my monthly mortgage payments. At the moment the interest rate in the UK is 0.5% and the rate on my mortgage is 3.29%. I pay approximately £430 per month. Making my monthly mortgage payments using passive income would be such an achievement for me. I am currently generating £100 per month so far which means than I have surpassed the 20% mark.

I am working hard towards my targets but I am also wasting a lot of time doing things that are not really contributing towards the passive income stream. When I do go online I am not as efficient as I like to be and these things are really holding me back and making me achieve my goals slower. I am now determined to organise and plan in advance so that I know exactly what I am doing. 



Friday, 24 June 2011

Making Money With Infobarrel - Earnings - Review - Panda

My experience of infobarrel has been mixed to say the least.I stumbled accross the site after top blogger Pat Flynn made a recommendation based on the earnings potential and growth of the site. I was very enthusiastic to start with in January and within a couple of months wrote 180 articles. I was progressing really well and made £28 which is $48 per month which is a fantastic acheivment for me. These results were obtained without backlinking. I then proposed to backlink as many articles as I could and use Market Samurai to improve my keyword research. I was really getting into my stride when the Google algorithm change took place and my monthly earnings in dropped about 50%.

Sunday, 19 June 2011

My Strategy For Webansers

As I previously stated in my first post my aim is to generate enough money to pay my monthly mortgage payments passively. I have mode inroads into generating passive income however I am a long way away to achieving my passive income goals. My goal is to eventually generate £420 per month which is about $700 per month so that I can make the monthly mortgage payments which would be a fantastic achievement. If I was successful then this would really inspire me to pay off my mortgage completely. Having a freehold ownership of my own property would be a dream come true.


Paying My Mortgage Passively

I am a great fan of passive income and it has become a big part of my life. I really want to use the income that I generate passively to make my monthly mortgage payments. I currently live in a 3 bedroom house in London in the borough of Newham. I brought my property in 2003 and at the moment I am paying £420 a month thanks to the low interest rates. I really wanted to make this monthly payment using passive income and in this blog I will outline my plan on how I can pay my mortgage passively. I have made a start and I am making inroads into unlocking some of the secrets of generating income on line.