Hey there, welcome to MasterMyFinance.com!
I’m Edward, founder of this website. If you want to learn about affiliate marketing and building a stable side income online, I think you can learn a thing or two here!
This is a short story of how I went from losing a bunch of money to generating a monthly side income of $2,000+ while holding a full time job. And if I can do it part-time, pretty much anyone can do it too!
How Did I Get Started?
It was 2013 and I was fresh out of university. I found a job in healthcare industry within months, and frankly, the pay wasn’t too bad. I had enough and some to spare, even though I’m living in the most expensive city in the world.
Yeah, you guessed it, I live in Singapore. Say hi in the comments below if you are visiting!
Anyway, even though I wasn’t really lacking financially, deep down I knew I had to do something to supplement my income. You know, something that’s not dependent on my day job.
I believe most of you have the same thoughts, and that’s why you are reading this now. You can only go so far being an employee, and I really wanted to build a second stream of income that will eventually surpass my day job.
And of course, when it does, I’ll consider quitting my job for good.
“It’s all about making more money and having more options in life”, I told myself. And I wanted to make it fast.
The Start of A Series of Nightmares
Once I had that idea in mind, I started looking out for business opportunities everywhere. And when you are desperate to make quick bucks, you are susceptible to all sorts of traps and scams.
Have you come across ready-made “business systems” promising to make hundreds of dollars a day without you having to do anything?
The kind of sales video with headlines like “Make $500/day on autopilot!”? They are literally everywhere!
Most people may just dismiss it as a scam, but I was hooked. I was inexperienced and desperate to succeed that I was dumb enough to buy into one of them.
Well, of course, that endeavor didn’t go so well (in hindsight, it was a complete disaster!)
Turns out it was an automated binary trading software scam that was designed to siphon your deposit and quickly lose it with successive trades. The money went to the broker, and I lost $500 in just an hour.
Well, if there is a silver lining, it’s that I’ve learned not to trust something if it sounds too good to be true.
Armed with the bad experience, I told myself to invest only in online businesses that look legitimate. Unfortunately, as I would find out quickly, it still wasn’t enough to protect myself.
If you have tried to find a legitimate business opportunity online, you will know how difficult it is to find a trustworthy platform.
Most of the sales videos and landing pages are full of hypes and deception. You just don’t get to see how it really works until you have paid a hefty membership fee and finally realize it doesn’t work at all.
This was what happened to my second endeavor. There was a video of this guy sipping margarita by the beach, and talking about how he made hundreds of dollars passively through internet marketing while doing just that.
This guy was living the dream! He has an online business that makes him passive income while he’s on a vacation? Sign me up! And indeed, I smashed the sign-up button right away.
The membership costed $47 dollars, which is not exactly cheap, but I wanted to know how it work. Besides, $47 is a small price to pay to change your life, right?
Long story short, it turned out to be an internet marketing scheme operating under a pyramid structure, with upsells up to $60,000+ within their program. Heck, I was even forced buy an upsell costing $2,500 halfway through my course (which I valiantly rejected and get thrown out from the program). And the best part is, I didn’t even manage to get my refund despite their 100% refund guarantee.
Yes, I’m talking about MOBE, the massive internet business coaching scheme that was recently shut down by FTC for bilking more than $125 million from consumers. No surprises here considering how they run their business.
At this point, I was pretty skeptical about all business opportunities. It was when I turned to a local internet marketing agency, which offered a 3-day course on “how to make money online without selling anything”. Intriguing, huh?
It wasn’t cheap too, the price-tag amounted to a staggering $4,000. But since it was backed by a company with an actual back office in Singapore, I thought I would give it a shot.
It turned out to be an eye-opening experience. It was all about making money online through affiliate marketing, a concept that has eluded me up until that point of time.
To put it simply, it’s a way of making money online through referrals. You don’t produce actual products or sell inventories, instead you make commissions from selling other people’s products.
There are many ways to do affiliate marketing, and the course that I attended focused on paid traffic. Looking back, the course was extremely overpriced, and you can find the same knowledge at a much cheaper price on the internet.
If you are relying solely on paid traffic to display advertisement and generate affiliate income, you’re gonna need a huge capital to make things work. You need a lot of split-testings to see which offer converts, and which marketing angle works.
All these cost money. We are talking about thousands of dollars in marketing budget per month, and I just didn’t have that kind of money to burn through.
I went through a grueling 9 months of testing and working relentlessly on my campaigns, burning away $10,000 of my savings and making $5,000 back in the process.
At the end of the 9th month, I decided it wasn’t sustainable and threw in the towel.
The Turning Point
Well, it was an understatement to say that I wasn’t doing so well in my ventures. I was literally failing at everything I tried. At this stage, I figured I’ve lost close to $15,000 and more than 1 year in pursuit of the elusive wealth.
Around this time, I received an email from Wealthy Affiliate reminding me to set up my account.
Actually, I’ve joined this online training platform months earlier and completely forgot about it. Little did I know that opening up that email would be a turning point in my life.
Fast forward to a few months later, I made my first $100 from the internet. It wasn’t a lot, but for someone who went through hoops to get here, it was a big deal.
Within one year, I was making an extra $2,000 dollars a month outside of my main job.
Affiliate income from Wealthy Affiliate
Affiliate income from Amazon.com
I know this may be a far-cry from what some of you expect from the internet, but this is money earned from building a sustainable, long-term income source.
And as you grow your online presence, the numbers can only go up.
What Does This Mean to You?
I dedicated this website to expose online scams and to explain the inner workings of these unscrupulous “business opportunities”, probably because I was a victim myself.
It wasn’t a good feeling when you are promised one thing and given another. I hope you can learn from my mistakes and commit to making money the right way.
This is why I aim to be totally transparent in what I write here.
Let me just get this straight – it takes hard work to make money online. There’s no other way to sugarcoat it, because you will have to spend hours learning the ropes and build your business over time.
The good part? It doesn’t cost as much as you’d expect. I’d be lying if I say you can totally do it for free, but at least you are not required to pay anything to get started.
Once you start to see money rolling in, I suggest you reinvest at least half of it back into tools and training to expand your skill set.
I’ll be writing a series of posts on the best tools and training that help me maximize my income, and I’ll be providing a link here once I’m done.
If you want to learn making money online, it’s sufficient to just get started with a free membership account with Wealthy Affiliate for now and go through the first 10 video lessons.
By the end of it you’ll have a good understanding on how to make sustainable income from the internet, and from there you can decide if you want to sign up for the $49/month membership and keep going.
Do note that if you sign up to Wealthy Affiliate from my site, I’ll make a commission if you decide to go premium. In return, you’ll gain access to my personal guidance within the platform.
If you feel uncomfortable with this, feel free to look up WA from Google without using my link. It’s an awesome platform and I highly recommend it no matter what.
Just get started and stop buying into shady programs. You’ll end up saving a lot of money and more importantly, your precious time.
If you ever need a hand or have any questions, feel free to leave them below and I will be more than happy to help you out.