Sunday, April 15, 2007

My No Brainer Idea - not so easy......

You may have remembered that I paid for referrals (through Buyrefs) for $0.20 each. These were for the site Freeshares. I bought 500 referrals half of which have already been delivered - I seem to be getting about 100 a day which is great. I thought that I could trade these referrals in for money as I misunderstood this clause in their terms and conditions : When you receive payout we will debit your account with 3 Shares per 1 Dollar you received. (Example for a $10 Payout we debit your account with 30 Shares.) I assumed that I coudl trade in 30 shares (you get 1 share per referral) for $10. As the cleverer of you have probably spotted that isn't what it means - it means that every time you withdraw $10 you will have 30 shares removed from your account. I am still working to make some money back on this site. From what I can tell you get a percentage of their revenue each day depending on how many shares you hold, so the more I have the higher revenue I will get. I can also earn money if any of my referrals decide to pay for advertising on the site and I can earn by clicking on adverts and signing up to websites etc. The whole point of this Turn one pound into one million exercise was so that I could learn about making money and take risks I woudln't normally take. I still feel reasonably happy about what I did and am determined to get the money back that I paid out! I know that I will get there soon.

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