Possible to make money with shoe string budget?

by nzaman
18 replies
Hi

Is it possible to make money online on a shoe string budget?

Am talking about making something like $500 a month?

Is it possible if yes how's the best way to achieve this?

Looking forward to some suggestions and ideas...

Regards
#budget #make #money #shoe #string
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  • Profile picture of the author Kay King
    Your question caught my eye because of your 'join date'. You asked a similar question eight years ago...twice. What have you DONE since then? What have you tried and how much time/effort did you put into it?



    Your choice is to learn to get a business started without spending much - or to earn more money offline so you have some to invest in tools, ads, etc online. Making money online means SELLING something - products or info or access or ??? - that has not changed.
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  • Profile picture of the author dave_hermansen
    A lot of this comes down to what you are selling and the profit margin and/or profit per sale.

    If you are selling something with a large profit margin, you can list your items on one of the biggest selling platforms in the world - Amazon. They'll take their 15% cut (sometime lower, sometimes higher, depending on the product) of every sale and the rest of the margin is yours to keep. In addition, they are handling the payment processing, so you have no fees associated with an order, nor do you have to worry about fraud (in most cases). Other than very minimal listing fees, you only "pay" Amazon when a sale is made (versus pay per click or pay per impression, which can rack up lots of advertising expenses without ever making a sale).

    If you are selling high PROFIT products (not necessarily with high margins), you can use pretty much any pay per click platform, but we prefer Google Shopping and Bing Shopping. You are at risk of paying for clicks and not making sales, but if the products are at all in demand and your price is competitive, you'll make sales that will easily cover your ad costs (i.e. you make $100 profit on a sale and your average cost per conversion is $50). You don't pay until the end of the month for your clicks, so hopefully, you've generated far more in profit than you are charged for those clicks at the end of the month (just be sure to set that money aside).
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  • Profile picture of the author Deepak6954
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  • There are many ways to achieve this depending on personal preference and budget. Just try one method before going to others and I am sure you will eventually find a method that suits you. Learn more, when you know more you can do more. Don't give up.
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  • Profile picture of the author ryanbiddulph
    Yes but it takes a full time commitment to creating and connecting for the long haul to do so.
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    If you want to become a full time blogger you can buy my eBook here
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  • IMO, $500 a month is a huge budget for someone starting out. You don't need to spend a lot of money when you are trying to figure out how this industry works. There are many ways to make money online. I suggest picking one that seems the most interesting to you. Than find a niche that you would enjoy being in for a while, specifically one that is profitable.

    Next work on making money on whatever platform you choose. You don't need to spend a lot of money when experimenting at first.
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  • Profile picture of the author newton
    If you don't have much money to invest in marketing then you're going to have to trade your time instead.


    Choose a niche, identify a problem and offer a solution. This can be an affiliate product. You will have to spend time getting your solution in front of the prospects though. FB groups, niche forums, Instagram are just a few ways you can do that for free. You'll have to grind though until you make it work.
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  • Profile picture of the author Chris-
    Any answer to this is INCORRECT

    Why ? . . . because IT DEPENDS, on a lot of things, including your personality. For example, if you're a introvert, a method which requires in-person selling might be "the best method" for some people, but will not work easily for you.

    Or if you have little budget, a method which uses paid traffic, will not be a good choice.

    If you're totally honest about yourself and your situation, you can ignore 95% of methods, and focus on what's most likely to work for YOU.

    Chris
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  • Profile picture of the author Kay King
    $500 a month is a huge budget for someone starting out.

    I think you mis-read the post - the question is how to EARN $500 a month....on a 'shoestring budget'.
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    • Profile picture of the author OptedIn
      Originally Posted by Kay King View Post

      I think you mis-read the post - the question is how to EARN $500 a month....on a 'shoestring budget'.
      Never saw one of those, before.
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  • Profile picture of the author msulcs
    This is going to be a long-term solution, but you can make money by creating high-quality content on a website/blog or social media like Instagram, YouTube, Twitter, Facebook, Pinterest, etc.
    The more followers you'll have, the more you'll be able to earn once you have at least 10K followers.
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  • Profile picture of the author ChrisBa
    Originally Posted by nzaman View Post

    Hi

    Is it possible to make money online on a shoe string budget?

    Am talking about making something like $500 a month?

    Is it possible if yes how's the best way to achieve this?

    Looking forward to some suggestions and ideas...

    Regards
    What do you consider a shoe string budget? How much is this?
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  • Profile picture of the author Robert Bridgen
    How about zero budget. Get a niche. you love to be in and understand it as well. Then find a good product that people are purchasing . Open a facebook page. put 15 posts without selling anything. Then friend 40 people a day with the same interest. Then post advise to other pages. When. your posts get engagement. give advise and give your link or links. Do not sell but give advise. That is how to make your dream come true.
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  • Profile picture of the author acopson
    Originally Posted by nzaman View Post

    Hi

    Is it possible to make money online on a shoe string budget?

    Am talking about making something like $500 a month?

    Is it possible if yes how's the best way to achieve this?

    Looking forward to some suggestions and ideas...

    Regards
    Yes, just get some content written and out there, a free report, a blog post, video whatever, then use forums for marketing, it's the oldest easiest cheapest model it just takes time
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  • Profile picture of the author DaveMartin
    Yes it's more than possible. Buy an expired domain that is already getting traffic and has had quite bit of promotional work already been done, Twitter Youtube etc.

    Build a blog around the expired domain and write 2 to 3 articles per day every day. Master 1 or 2 traffic sources, it is important that you only focus on these traffic sources and dont jump from one to another and back again as it can take time to build a following.

    Traffic sources can include Quora, Pinterest, Youtube and facebook.

    Monetize your blog.
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  • Profile picture of the author Clary McClam
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  • Profile picture of the author Robert Bridgen
    Yes you can make money online without spending a dim. I went into affiliate marketing. 1 find a good product to sell 2 get a facebook page make it related to that product. So if it is affiliate marketing. make the facebook page about affiliate marketing Put out 15 posts without selling a dam thing. Join others in the same interest and give advise. In return the people will come to your facebook page and get interested. When people engage in your post. drop the link as advise not as selling. Easy to do. like. Yes I understand you post but I found a product that helped me to achieve fantastic result here is the link take a look. Then you will be in no time making friends and money Hope it helps
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  • Profile picture of the author SYKOTIK
    Yes, you will only most likely just need a domain name, hosting, a theme and usually a 30 day subscription to a tool/software that helps you in the business. What you will need though is dedicated time to making it all work out.
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