Thursday, July 7, 2011

Increasing my Online Passive Income from Mr Rebates Cashback

I have been very happy with my online income I've been receiving from my Mr Rebates referrals, but I would like to double the amount of passive income I'm currently receiving. I think I can accomplish this if I double the number of shoppers I refer to Mr Rebates to get cashback on their shopping purchases.

If you haven't heard, Mr Rebates pays cashback for online shopping at more than 2000 stores. And in addition to paying cashback to shoppers, Mr Rebates will also pay their members a referral bonus for spreading the word about Mr Rebates and referring new members. 

When I refer someone to use Mr Rebates, that new member gets a $5 sign up bonus, plus they start getting cashback on all their online shopping purchases. Because I referred them to the website, Mr Rebates rewards me by paying me 20% of the amount of cashback amount that the shopper gets (while still paying the FULL amount to my referral shopper). This 20% referral bonus is where I am getting passive income. I am paid that commission every time my referral shops through Mr Rebates, both now and in the future, for the life of their account at Mr Rebates. The more shoppers I have referred, the greater my passive income!

I really didn't start talking about Mr Rebates and sharing how great it is to get cashback on shopping until June 2010.  From June 2010-December 2010, I referred 43 new members, in addition to 5 referral members I had from 2009. So my total referrals were 48 shoppers. From January 2011 - May 2011, I've referred another 41 shoppers, making my total referral shoppers 89. That's an average of about 7 new referrals each month in the last year (June 2010-May 2011).  I would like to increase this average and get at least 12-13 new shoppers each month for the remainder of 2011. That would double my number of referral shoppers, and hopefully double the amount of referral bonuses I'm getting.

# shoppers referred to Mr Rebates
2009 = 4
April 2010 = 1
June 2010 = 3
July 2010 = 6
August 2010 = 7
Sept 2010 = 6
Oct 2010 = 8
Nov 2010 = 5
Dec 2010 = 8
Jan 2011 = 5
Feb 2011 =  6
Mar 2011 = 13
April 2011 = 8
May 2011 = 9
June 2011  = 12 Actual = 7 new signups
July 2011 Goal = 12     Actual = 6 new signups
Aug 2011 Goal = 12    Actual = 20 new signups
Sept 2011 Goal = 13   Actual = 24 new signups (I attribute my increase in the last few months to my Blog, where I've been sharing cash back website deals.)
Oct 2011 Goal = 13
Nov 2011 Goal = 13
Dec 2011 Goal = 15

My Referral Passive Income Earned: (20% referral bonus from my referrals shopping)
March 2011 = $34.98
April 2011 = $130.89 (a few of my shoppers did a lot of shopping this month)
May 2011 = $84.31
June 2011:  $51.98 (updated)
July 2011:  $74.25 (updated)
August 2011:  $112.77 (updated)
September 2011:  $213.12 (updated)

This averages to $84.23/month from the last 3.5 months   $75.28 over the last 5 months of referral earnings. If I were to double my number of referrals, hopefully my income will double also, bringing me to an average of $150/month by the end of the year.

If you would like to start earning cashback by shopping online through Mr Rebates, join for free HERE (and collect a $5 sign up bonus). You will be one of my new referrals! Yippee! ( earn the SAME amount of cashback, whether you are my referral or not, so use my link and join today! Thanks!)

Mr. Rebates