While this post is several weeks late, I wanted to continue to post monthly results of my multiple streams of income . Today, I would like to provide a status on my July monthly results and will post the August results later this month. Remember, my long-term goal is to become financially independent by creating many sources of passive income. Below is a list of income streams that are earning money and others that are being worked on or under consideration.
Income Streams earning money
- Stock Dividends: $43.50 - My quarterly dividends were not included in July so this amount dropped. Starting in August, I will also post a 3-month rolling average to get an average monthly dividend amount that can be tracked over time.
- Deep In the Money Option Calls: $168.99 - I have not made any additional Deep In the Money Option Calls transactions since July.
- Savings Account Interest: $25.68 - Self-explanatory
- Selling Covered Call Option Contracts: $160.97 - While it is not 100% passive, this is one income stream that works well for me right now.
- Sale of Stock: $206.98 - I sold some stock over the course of July as a result of some Covered Call options contracts being called (i.e. BAC).
- CD Interest: NA - I earned some CD interest in July but was not able to calculate it yet. I hope to quantity this stream in the future.
- Prosper Interest: $27.89 - I saw a $3.00+ increase over June for one of my favorite alternative income streams!
- Credit Card Rewards: $0.00 - While I did not earn any income during the month of July in this category, I still earned points which will be redeemed in the future.
- Kontera: $8.77 - This is one of the most passive streams of income I currently have.
- SocialSpark: $16.51 - While this is not a very passive income stream, it allows me to generate some extra income while I grow my other streams.
- Pepperjam Network - $32.00
- Niche Blogs: $2.18 - I hope that this income stream will be one of my fastest grower’s in the future. I have been spending a lot of time working on this category.
- CashCrate: $3.65 - I earned a small amount for completing some survey’s in July.
- UpDown: $.04 - I beat the S&P 500 in July and earned some income. Not a lot, but every cent counts!
- PFBuzz: $.50 - This was from referring a new member to PFBuzz in the month of July.
GRAND TOTAL INCOME - $697.66
Income Streams NOT currently earning money
- Ebates - My family does not do a lot of shopping online, so this may fall off of my list at some point after the upcoming holiday season.
- Domain Parking - I have a few sites that I am testing out domain parking. Not sure how it is going to work yet or if I will see any return on my investment.
- PayPerPost - I expect to see some income generated through this stream in September.
- MySurvey - I have earned some points using MySurvey over the past several months. Once I earn 1,000 points, I can cash this into income.
- Commission Junction - I plan on using Commission Junction on some of my niche blogs but have not used it too much as I am using Pepperjam for PFI.
- Linkworth - I have an account setup, but have not really used this too much yet.
- Big Crumbs - See Ebates description above.
- eBay - Nothing to note yet.
- Amazon Affiliates - Same as eBay
- Rental Property - No rental properties yet but is on my long-term plan.
- eHow - I am starting to write my first eHow article this month so I think this will show up in the top list in the coming months.
- Etsy - On the list for review.
- Tax Liens - Same as Rental Property.
- Adding a Roommate - Our roommate has moved out so this will fall off the list.
- Pharmacy Shopping - I am keeping this on the list as I do generate some income from shopping at these stores. However, it is very difficult to quantify this income.
July Passive Income Analysis
I saw a decrease of ($191.93) between June & July. This was an expected drop based and I still have a goal to bring in $1,000 by next May (2009). I also have a longer range goal (3 - 4 years) set of $4,000 - $5,000 per month in passive income which will more than cover our monthly expenses and give my family and I the financial freedom we desire.
How do you track your passive or extra income earned? Do you have goals set that you hope to eventually reach?
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Pinyo 09.04.08 at 9:52 am
Thank you for sharing your income sources. It’s valuable and there are some sources that I need to investigate. Thanks!
Roseli A. Bakar 09.04.08 at 1:22 pm
Hey Man,
If you want promote the pay per post affiliate program, I would suggest you join the payperpost affiliate program in the Commission Junction which pays $1.00 for every sign up instead of using the payperpost direct affiliate program where you are paid much higher but only after the blogger got approved.
I have over 500 people sign up thru my direct payperpost affiliate links but not a single one got approved until today.
If I was using the CJ payperpost affiliate program, I would have made $500 !!
I have since changed to that
Online Dividends 09.06.08 at 3:48 pm
Thanks for sharing your passive income with us.
I have one question about the sale of stock. Did you actually make $200 in capital gains from the sale of stock, or did you sell stock worth $200?
passivefamilyincome 09.08.08 at 7:50 am
Pinyo - I wanted to thank you as well for the information you have posted on your site. I have gotten a lot of great ideas from reading your blog.
Roseli - I have a CJ account and will be checking this out! Thanks for the tip.
Online Dividends - The $200 was from capital gains. This was not part of my long-term strategy but a reality when selling Covered Call Options. I had purchased 100 shares of BAC and then sold a Covered Call contract against that position. Unfortunately, the contract was called on the options expiration day withing pennies of the strike price. The result was a nice return ($55) from selling the Covered Call Contract and a ~$2.00 share increase for the 100 shares.