freebies

WHAT THE HECK IS PROJECT PAYDAY?

You might have seen those “Realistic income for the average Joe” ads floating around on the web, and if you’re anything like me, you asked your self “is this just another scam or is this for real”? The only way I was going to find out was to actually try it myself, and so I did. I found that Project Payday is simply a system using Freebie/IFW (incentive freebie websites) sites to make money.

In this article I’ll be covering:

- IFW sites and how they work
- 3 different methods of making money with this system
- Final thoughts

SO HOW DO THESE FREEBIE SITES WORK?

Freebie/IFWs are websites that offer consumers the chance to earn free products like popular electronics such as iPods, cameras, gaming systems, TVs etc.. but there are other things like designer hand bags, golf clubs, gift cards, and best of all, CASH!

Here’s how most of them work; a user signs up at an IFW site and needs to complete a “sponsor offer”. Then the user must refer X amount of people to the site who all do the same thing. Once the number of required referrals have all competed a “sponsor offer”, the user receives their free prize.

An IFW “Professional” makes money 3 different ways..

- Method 1: get paid to complete sponsor offers for others
- Method 2: get paid cash directly from the IFWs
- Method 3: get free products to keep or sell on eBay

METHOD 1

This method works great because it’s very straightforward – you complete sponsor offers for other people who are currently working on earning free gifts at one of the various IFWs, and in return they pay you for doing so.

This “freebie thing” is bigger than I thought. Project Payday introduced me to plenty of large and active communities who use this system, so it was never hard to find “work”. Every transaction was organized with a “trade manager” and payments were made through PayPal.

METHOD 2

Before I go on about method two, I first have to explain a little bit more about the offers on these IfW sites. While the focus of most IFWs is free products, almost all of them also offer a cash “gift” if the user prefers to receive cash instead.

In method 2, the roll is reversed with method 1. Instead of getting paid to complete offers for others, you pay others to complete sponsor offers, and in turn the freebee site “pays” you the cash gift.

To figure out how much you’re to pay each referral, it’s a simple equation. (Amount of cash prize) divided by (number of required referrals) divided by 2, equals payout per referral.

For example, let’s say you agree to trade with Bob. You complete your sponsor offer, make a quick 20 bucks and now you’re illegible to earn your own prize. You choose the $600 dollar prize which requires 15 referrals.

600 divided by 15 = 40. Divide that by 2 = 20. So you pay $20 bucks to 15 people ($300 dollar payout) to receive the $600 dollar cash prize on which you make $300 dollars in return. (100% return on investment!)

Method 3

With method 3, you simply choose the prize (PS3, Ipod, Laptop, etc..) instead of the cash prize and sell it on eBay, making the profit.

FINAL THOUGHTS

This system is GREAT because..

- it’s free to sign up
- you make money the first day
- it has easy video training guides
- it provides free mentoring and plenty of tools

The only drawback is that you have to stay very organized. Once I started using my Outlook more, this system brought in an extra stream of income like clockwork.

I’m glad to have tried this as my first internet money making venture because one, it was free to sign up and it actually worked, and two it opened my eyes to other ways of making money online.

If you’re interested in creating an extra stream of income online and you’ve never done anything like it before, Project Payday could be a great starter for you.

Enjoy,
Jack Vu

http://www.squidoo.com/howtomakemoneywithprojectpayday

Author: Jack Vu
Article Source: EzineArticles.com
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