As you search for ways to earn a residual income on the Web, you'll likely come across some cash gifting opportunities. Cash gifting has been around for many years and does work well for some, but it's not for everyone. Let's take a look at the ins and outs of gifting to determine if this type of financial endeavor will work for you.
What is Cash Gifting?
Cash gifting is a legitimate means of passing money around as cash gifts among mutual friends, associates, etc. It follows the tradition of Scottish, Jewish and Asian cultures, where gifts are given regularly to help friends and family start a business, purchase a home, or get back on their feet after a financial downslide in the economy. Cash gifting is also practiced in America, and you can even give gifts up to a certain amount free of taxes!
Have you ever applied for a mortgage loan, and was told by the bank that all or a portion of your down payment could be received as a gift from a family member? Banks want to know where you get the bulk of your down payment, and don't seem to mind if you receive the down payment money as a gift from parents, aunts, uncles or other family members. This is similar to what other cultures do; however, gifting as a source of part-time or full-time income works a little differently.
Cash gifting is not meant to be a one-sided ticket to financial independence. It is based on the ideology of give and receive, or vice versa. It's based on people helping people achieve their goals through mutual giving and trust. If you receive a gift that helps you achieve certain business goals or that enables you to make a smart investment that results in financial freedom for yourself, then you can later take your blessings and spread them to others. Cash gifting helps you do just that. You don't receive gifts to merely consume the money and never give back to those in your path. If those involved in cash gifting become selfish with their gifts, then gifting doesn't profit anyone and it quickly becomes non-profitable for everyone.
Consider these Benefits of Cash Gifting
Cash gifting can enable you to start that small home business you've always dreamed about or increase cash flow for your current business. It can help you pay off a debt that's been haunting you for years. It can help you save a down payment for a new dream home, or replace your older, gas-guzzling automobile with a new, more efficient vehicle. Folks have used cash gifting to help with medical bills, college tuition, home renovations, and even to fund non-profit organizations and charities. Whatever your passion in life, cash gifting can help you reach your financial goals in a relatively short period of time if you enter it with the right mindset.
The Downsides of Cash Gifting
One negative aspect of cash gifting is you'll have to invest some money at the start before seeing results. It takes time to build a gifting group that's profitable for everyone. It's a good idea to take it slow and start small to test the waters. If you feel uncomfortable with a certain cash gifting group, then by all means find another one that you feel comfortable with. Keep in mind that initial investments are always required to start any business. Although cash gifting is not really considered to be a business, you'll still be required to invest in your future by giving an initial gift. Your gift will help someone else, and then gifts to you will come gradually as you promote the idea of gifting.
Look for these Features
When seeking a cash gifting group, here are some features to look for...
* Website setup and built-in auto responder e-mail systems for you to promote your gifting group.
* Inviters who are willing to mentor you as you enter the realm of gifting.
* Team leaders who can prove their success rates.
* Detailed - not vague - information about the program available BEFORE joining.
* Reliable tracking system so you can keep up with all gifts and from whom they are received.
* Proven methods of receiving a residual income with gifting.
So determine if you're willing to take the first step and invest your gift to help someone else. Study all aspects of the gifting program. Ask questions, and don't be afraid to do some research in online forums, Google and other sources. You'll read some negative and positive comments about gifting, but ultimately you should decide if this method of earning an income will fit with your budget, lifestyle and personality.
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Chris Robertson is an author of Majon International, one of the worlds MOST popular internet marketing companies.
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