photo credit: Darren HesterI have finished compiling the results of money generated from my multiple income streams during the month of September. These extra income streams include everything outside of my day-to-day job. Some of these streams are very passive, while others take a lot more time to bring in any income. My long-term goal is to become financially independent by creating many sources of passive income. During difficult economic times like this, I believe it is very important to continue to build and explore as many possible alternative income streams that you can. Below is a list of my income streams that are earning money and others that are being worked on or under consideration.
Income Streams earning money
- Stock Dividends: $91.38 - I received several quarterly dividend payments during September. My current 3-month (July, August, September) rolling average dividend payment is $56.79.
- Deep In the Money Option Calls: $0 - I have not made any additional Deep In the Money Option Calls transactions since July.
- Savings Account Interest: $7.13 - Savings account interest from a variety of sources.
- Selling Covered Call Option Contracts: $51.99 - The market downturn took it’s toll on this income stream during September.
- Sale of Stock: $404.99 - One of my Covered Call Contracts was called during September which resulted in a positive sale of 100 shares of a stock in my portfolio.
- Prosper Interest: $32.30 - I saw a 5.5% increase over August for this passive income stream.
- Credit Card Rewards: $0.00 - While I did not earn any income during the month of September in this category, I still earned points which will be redeemed in the future.
- Kontera: $2.07 - The more traffic I can generate to my site, the more this stream will increase over time.
- SocialSpark: $18.18 - While this is not a very passive income stream, it allows me to generate some extra income while I grow my other streams.
- LinkWorth: $7.00 - I wrote two sponsored posts from LinkWorth during the month of September.
- Pepperjam Network: $7.00 (Sign Up for Pepperjam Network and Get a $10 Sign On Bonus
)
- Widget Bucks: $.05
- Commission Junction: $0
- Niche Blogs: $.43 - The income from my niche blogs has not taken off yet.
- CashCrate: $0 - I didn’t spend any time on CashCrate during the month of September.
- UpDown: $0 - I didn’t beat the S&P 500 in September and therefore did not bring in any dollars (or cents in the case of this stream)
- PFBuzz: $0
- eHow: $1.46
Check out my following articles found on eHow
1. How to sell covered call options
2. How to secure a loan from Prosper
3. How to save money on your grocery bill
4. How to properly store wine
5. How to drink wine for beginners
6. How to read wine labels
7. How to save money using coupons
GRAND TOTAL INCOME - $623.98
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 have increased my PayPerPost writing and will see income generated from this source in October.
- 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.
- Big Crumbs - See Ebates description above.
- eBay - Nothing to note yet.
- Amazon Affiliates - Same as eBay
- Associated Content - I will start writing some of these articles in October. I received an email from them stating if I wrote 5 articles by mid-November, I would receive a $10 bonus.
- Rental Property - No rental properties yet but is on my long-term plan.
- Etsy - On the list for review.
- Tax Liens - Same as Rental Property.
- 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.
September Passive Income Analysis
I saw an increase of $347.82 between August & September. The main reason for this increase was from the sale of stock, which pushed my numbers up. I still have a goal to bring in $1,000 per month 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?
{ 5 comments… read them below or add one }
Lazy Man 10.20.08 at 1:39 pm
Thanks for the link. I didn’t realize that pfbuzz paid any money at all.
passivefamilyincome 10.20.08 at 1:41 pm
Lazy Man - They use to pay .50 for a referral. Not sure if that is still the case or not?
Online Dividends 10.20.08 at 2:15 pm
PFI,
Aren’t you making any money with adsense?
Also, have you looked into selling text link ads?
passivefamilyincome 10.20.08 at 2:19 pm
Online Dividends - I just started putting AdSense on my site in October. I held out for ~5 months but decided to recently ad them. As far as Text Link, I was not approved.
- PFI
davmp 12.13.08 at 2:32 am
Can you explain the rational for including the cap gains on your forced stock sale here? Is this because you wouldn’t otherwise have been in that stock? If you would have been long on it anyway then didn’t the covered call forced-sale actually mean you lost money due to it having been worth more when the call was exercised? i.e. it was worth $50 when the call was exercised at $45.