Saturday, August 26, 2006

Making Extra Money - Part One: Get a PayPal Account

This is the first in a series geared toward making extra money. Some of these ideas are long term plans to make some extra cash. Other ideas are quick one-time shots at making some extra money. In any event, we have to start somewhere. In this article, I will discuss the reasons for setting up a PayPal account.

PayPal is the most popular online system for making transactions. I used my PayPal account extensively. I use it to collect fees from auctions on eBay, accept payment for mystery shopping, and withdrawl funds from various online programs that you can use to get paid to perform tasks.

PayPal was purchased by eBay a few years back. It has been tightly integrated into eBay to the extent that it is easier to buy and sell using eBay than any other method.

When I evaluate a program that can make money for me, I first check to see if it pays via PayPal. Payment transactions with PayPal are immediate. Also, I have a PayPal debit card that allows me to use the funds. This works out well for shipping items, as I receive payment before I ship, and I then use my PayPal debit card to pay for the shipping costs.

So, sign up for a PayPal account, link it to a savings account, and then order your debit card. It will take a week or two for the card to arrive.

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