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Poject payday

So, what is Project Payday?

Project PayDay (PPD) is a resource for finding out how to make money by working those “Click Here for a Free iPod” or “You Can Win a Free Wii” banner ads you see everywhere. PPD teaches you how to make money by becoming a paid referral for someone who wants that iPod or that Wii, and eventually becoming someone who pays for those referrals and cashes in on the profits from these free items.

The instruction manual is clear and concise, with videos peppered throughout to make some concepts more clear. Project Payday has a 3-step process, called “methods” that claim to get you making money quickly and keep you making money.

Method 1 is where everyone starts. The manual explains that to get started making money, you must participate in a referral forum. It gives you several to choose from, and even shows you what to do to start managing trades and “going green” to earn money right away. You log in to the forum, find someone who is “buying” referral opportunities (Buyer) and selling your services. You set up a trade agreement with the Buyer through the built-in trade manager, and then they give you their referral link. You use the link to log in to the site and complete enough offers or credits to “go green” or show up on the Buyer’s list as a qualified referral. Say the Buyer wants to get a $400 television from one of these sites. If they need just 4 qualified referrals, they could pay 4 people $25 each to sign up and become a qualified referral, and they’ve just paid $100 for a $400 TV. This is where you make money – you offer to be a referral, go on the site, sign up and complete the offers required. Once you have met the requirements, you let the Buyer know, and they verify it with the site, then pay you the asking price for the referral.

Sounds easy, right? There is a catch. In order to become a qualified referrer, you must sign up a certain number of offers. There are many to choose from, including makeup, pantyhose, credit reporting services, money making services, jewelry, coffee and more. Some of the offers are free to try, while others can cost from $1 – $50 or more, depending on what you are purchasing. This is usually an introductory offer, and must be cancelled within 7 days in order to keep recurring monthly fees or dues from being charged to your credit card. These fees can range from $7.95 – $79.95 or more per month.

The trick is, you can’t cancel too quickly, or you might end up “going red” and being forced to return any money you’ve earned back to the Buyer. If you sign up for the trial offer and cancel it a day or two later, you risk losing your referral pay. Most Buyers recommend cancelling on day 6 of a trial offer, just to be safe.

It sounds simple enough: earn money just to go on a site and be a referral. Just remember that nearly every referral fee will cost you something, whether it’s a trial fee, a membership fee, or the like. And if you don’t keep meticulous records of your transactions, you can end up paying through the nose when those monthly dues and fees

start piling up. A $25 referral fee on a site could end up costing you $5, $10, even the whole $25 or more.

You also can’t just stay at Method 1 forever and continue to make money. Every site has numerous offers, but all sites have virtually the same offers. In addition, some offers are actually the same company. For instance, there might be six different credit report offers on one site, but they are all the same company. Try to sign up for two or three of them and you’ll get rejected for duplication. At that point you might as well move on to Method 2.

Method 2 builds on Method 1. You’ve already signed up for several sites to “go green” and earned cash. Now you become the Buyer, buying greens from people who are working Method 1. You pay them to complete offers for you, usually a small percentage of the amount of the product or money you are receiving from the referral site. For instance, you want a $500 PayPal cash payout. If that payout requires 10 referrals, and you pay $20 per referral, then you’re paying $200 for a $500 payout, for a profit of $300. Not too bad. Just one of those a week will net you about $1200 per month in extra income.

Method 3 builds from Method 2. You go from buying referrals for cash to buying referrals for other items like electronics, which you can then sell. This method is described by Project PayDay as somewhat more lucrative than the other methods, since electronics may have a higher profit margin per referral than cash.

The Bottom Line

Project Payday itself is an information source. You find out where to go to make the money, and what to do once you get there. (Our recommendation: Your time is better spent at a free site, like SwagBucks, where they offer $5.00 just for signing up .) Once you’ve gotten comfortable with Method 1 and 2, PPD even provides a mentor or two that can help you increase your income.

PPD also keeps in regular contact with you, e-mailing once or twice a week with “special offers” just like the ones you’ve been signing up for. These are generally offers such as a $1.97 trial offer on how to make money on eBay, and PPD refunds the trial fee back to you. Of course, there is no mention of the exorbitant monthly fees that program charges (for which PPD most certainly receives a kickback).

Money can be made with Project Payday, but the work is tedious, time-consuming, detail-intensive and risky. You must provide personal information (including your phone number), thus increasing your spam e-mails, junk mail and phone calls. You must also provide credit card information to sites that may not be strictly legitimate. Failure to note the details of the offers and keep track of orders and cancellations can result in significant financial losses.

I have been working the PPD program for the last 3 weeks and will report what actually happened in my next article, including how much money I made. Yes! I did make money.

Cheryl is a writer in Southwest Florida.

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Category: Payday loans

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