Debt Free or Bust

Project Payday

I’ve found another way to earn money online — Project Payday

People sell, buy and trade referrals for cash or a fair swap so they can earn cash and prizes on advertiser sites.

It sort of reminds me of day-trading on the stock market, except you won’t lose your money unless someone doesn’t hold up their end of the trade. That results in the trader being banned from the forum so he/she can’t find people to pay to be referrals. It pays to read all the information threads on the forums before you start, and work only with traders who have a lot of successful trades and positive feedback, similar to ebay.

Here’s how it works. People need a certain number of referrals to complete offers (go green) to get products or cash from advertiser websites. You have to decide if you want to be paid to be a referral, sign up on sites and have referrals to pay for, or swap referrals with another trader. Say you want $500 via paypal on xyz.com and it takes 6 referrals to complete one credit each to get it. First off, you won’t net $500, you’ll net about $375 at most because you have to pay your referrals who are paying for offers. There is a formula for determining a fair price per referral on Free Lunch Room (one of the forums). Most of my traders have paid me from $20 - $35 for the trades they set up with me. I’ve seen $10 - $60 trades. Some traders will pay you a bonus if you complete all the trades he/she needs for a couple of sites.

Trying to get that many referrals from people you know would get to be impossible pretty quickly. Most sites require 1-4 credits per referral, most offers are for 1/4, 1/3, 1/2, or 2/3 of a credit so you have to do more than one, and almost all offers on the sites are paid offers, few freebies, unlike Cashcrate, Fairytale Treasure and the like. So you’d also have to find people who were genuinely interested in trying the products and services offered and be willing to pay for the free trials. Another big roadblock to success. There are not as many offers available, and you can’t complete the same offer on a different site for a different referral. The offers are exactly the same from site to site for the most part. But you earn a lot more money for your expense, time and trouble.

Just yesterday I grossed $55 in three hours paid promptly to my paypal account. I have a couple of offers I’m waiting on to complete (go green), and once they do, I’ll gross another $51. I’m struggling with two sites where I still need 2/3 of a credit on one, and 1 2/3 of a credit on the other, but I’ll earn nearly $100 on the deal minus my expenses. I’ve been able to limit my expense per offer to a little over a dollar average. That won’t last much longer unless more free and $1-$2 trial offers become available soon.

I’ll have to call up everybody I signed up with at the end of the week to cancel my subscriptions before the end of my free or inexpensive trials, something I won’t like doing because that’s when you get the really hard sell. So I’m thinking of aiming for the next level within a month - becoming a buyer of referrals. I’ve gained more than a few referral links after signing up under my current traders. Then the work becomes finding willing referrals on the forums, proposing trades, and being very prompt about paying them. Lots of communication is expected in the form of private messaging on the forums or IM on yahoo or AIM during negotiating a trade, setting it up and reporting your progress, and then making sure you get paid promptly when you complete your part of the trade. The other side is waiting for your green so he/she can get the cash or prize. Those who pay their referrals quickly are rated very highly, and there are lots of them, so if you’re new like me, only trade with highly rated traders until you learn how to spot fraud. You also need to rack up some positive feedback as a referral before anyone will buy from you.

I happened across Project Payday on a GPT site when I was taking a survey. The site’s name is what caught my eye and my curiousity. It only took doing one paid offer to join, which cost me $1.97. The full price of membership is $34.95. In a couple of hours of reading all there information I was exhausted and amazed at what they were explaining. First of all, you don’t have to belong to their site to do this kind of thing. You can join forums and learn the ropes on your own for free, but I feel $1.97 was well worth the money to have the whole thing explained as concisely as it can be on one site along with links to the three top-rated forums. They also explain all the ways to make money with different strategies for buying, selling and trading referrals.

I’m going to keep working on this diligently for a total of a month, through August 15. I’ll post interim reports on how it’s going when I post earnings or debt progress reports. I’m still not sure about this. I am making a lot, but it’s more work and a little more nerve-racking than the regular GPT sites. I’ll let you know if that’s just newbie gitters or if it’s real stress. I think I just have to get used to it.

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July 18th, 2007 Posted by joubess | Earnings Updates | 3 comments