Passive Income Results - October (2008)

photo credit: Darren HesterEach month I compile the results of cash generated from my multiple income streams other than my day-to-day job. Some of these extra income streams are very passive, while others are not really passive at all. I believe it is very important to create as many sources of income as you can. It is risky to rely on a single source of income to support a family. That is why I have been working hard to create other forms of income. Creating multiple income streams is even more important in today’s economic climate with mounting job losses and a struggling economy.

Income Streams earning money

• Stock Dividends: $72.43 - I received a few quarterly and monthly dividend payments during October. My current 3-month (August, September, October) rolling average dividend payments is $66.43. That is almost a 17% increase from the prior month. I hope to continue to grow this income stream even with the troubled economy and stock market.
• Savings Account Interest: $.83 - Almost not enough to even worry about, but every cent counts!
• Selling Covered Call Option Contracts: $30.99 - I was fortunate enough to squeeze a little income out of this stream for October.
• Prosper Interest: $34.80 - I saw a 7.7% increase over September for this passive income stream. I will caution that I now have a few loans that may be lost which will wipe out a lot of this income.
• Credit Card Rewards: $100.00 - We redeemed $100 in credit card rewards for a gift card that has been used for upcoming holiday purchases.
• Kontera: $2.94 - This income stream is growing (very slowly) over time.
• SocialSpark: $5.00 - There is nothing passive about writing sponsored post articles, but it allows me to generate some extra income while I grow my other streams.
• PayPerPost: $28.65 - I wrote several PayPerPost articles in October to help generate some extra cash.
• SpondoredReviews: $13.00 - I wrote my first sponsored post on SponsoredReviews which really has different types of articles compared to SocialSpark and PayPerPost.
• AdSense: $4.26
• Pepperjam Network: $7.00
• Widget Bucks: $.05 - Is it worth keeping on my site?
• eHow: $7.82 - This is one of the more promising passive income streams that I am working to develop.

Check out my October published articles found on eHow –
1. How to save money using coupons
2. How to save money on utility bills
3. How to create a household budget

GRAND TOTAL INCOME - $307.77

October Passive Income Analysis
The economy and stock market experienced a very difficult month in October. I can say that my extra income results saw the same downward pressures. I dropped over 50% compared to my totals for September. The major reason for the significant drop was a direct result of the stock market and struggling economy. That is why it is very important to diversify your income streams as you would do with your stock portfolio. While my October numbers were not very good, I am still pressing on and trying out new streams while trying to grow my existing ones.

How do you track your passive or extra income earned? Do you have goals set that you hope to eventually reach?

Tagged as: covered calls, PayPerPost, SocialSpark, SponsoredReviews.com, stocks