I have finally finished compiling the results of my multiple streams of income that I generated during the month of August. These income streams include everything outside of my day-to-day job. 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: $35.48 – The dividends for the month of August only include monthly dividend payments. Starting this month, I am now going to include a 3-month rolling average which will always include quarterly dividend payments and will show the progress I am making over time. My current 3-month (June, July, August) rolling average dividend payment is $72.01.
- 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: $29.08 – Savings account interest from a variety of sources. This total also includes a ING $25 Referral sign-up bonus for opening up an ING Checking account.
- Selling Covered Call Option Contracts: $102.97 – While it is not 100% passive, this is one income stream that works well for me right now.
- Sale of Stock: $0 – I did not sell any stock during August.
- CD Interest: NA – I earned some CD interest in August but was not able to calculate it yet. I hope to quantity this stream in the future.
- Prosper Interest: $30.61 – I saw a 9.8% increase over July for one of my favorite alternative income streams!
- Prosper Referral: $25.00 – I had my first Prosper referral.
- Credit Card Rewards: $0.00 – While I did not earn any income during the month of August in this category, I still earned points which will be redeemed in the future.
- Kontera: $1.46 – I had a huge drop from $8.77 the prior month.
- SocialSpark: $39.96 – 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 – $10.00
- Commission Junction – $.60
- Niche Blogs: $1.00 – 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: $0 – I didn’t spend any time on CashCrate during the month of August.
- UpDown: $0 – I didn’t beat the S&P 500 in August and therefore did not bring in any dollars (or cents in the case of this stream)
- PFBuzz: $0
GRAND TOTAL INCOME – $276.16
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.
- Linkworth – I recently started writing some sponsored articles for Linkworth and will see some money come in for September.
- Big Crumbs – See Ebates description above.
- eBay – Nothing to note yet.
- Amazon Affiliates – Same as eBay
- Associated Content – I am going to start to investigate this potential source in the coming weeks. I have become disappointed with SocialSpark and the available articles, so this may be another option to look into.
- Widget Bucks – I am looking to add Widget Bucks to one of my niche sites in the coming weeks.
- Rental Property – No rental properties yet but is on my long-term plan.
- eHow – I have 6 articles posted now on eHow so I anticipate moving this up to the top category next month.
- 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.
August Passive Income Analysis
I saw a decrease of ($421.50) between July & August. The first several months that I posted these numbers were not realistic in what I was bringing in. I believe that these August numbers now provide a baseline of what I can report going forward. 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?
{ 12 comments… read them below or add one }
It’s very tough the first few months, but I would keep working at it. As far as Associated Content, I wouldn’t bother because you have your own blog. Your content is always more valuable on your own blog, unless you want to guest post on other blogs to generate traffic and build readership.
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I’ve heard some goody things about this blog. cheers!
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I use Associated Content when I have off topic musings that I feel like writing up. If you can hit the 400 word minimum and want to sell your writing it works. I just discovered it (I’m new to generating passive income) but my first article was published and I got $1.75 for it. Not much but more than nothing and it didn’t take me long to post. It is also now on the performance payments plan so it has potential to keep generating.
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Wow! Looks like things are going well for you! That is great.
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Wow you certainly have a lot of alternative income streams that you are working on. I tried out Associated Content before but it never worked out for me so I just quit.
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Congratulations on your success so far.
Regarding blog/website income, eventually you’ll probably see which programs turn out to be winners for you and then drop the losers. I make a living from my sites, and most of my income comes from Adsense, Chitika, Amazon, and private link sales. I earn a bit from CJ and LinkShare, too, but I get annoyed with how many merchants end up dropping out over the years (which means you either have to go back and remove all the links to their sites or just sigh and acknowledge that you’re sending them free traffic).
By the by, I’d recommend Squidoo over AC or eHow. Instead of just getting paid per impression (and a few bucks for the initial article), you have the ability to put affiliate links (and do just about anything you want) directly into your articles (lenses).
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What about tradepub? Isn’t anyone signing up through this one?
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Dividend Growth Investor – I just added it to my site within the last week.
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You might also want to consider refering people to Zecco accounts or ING Direct savings accounts.
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Dividend Growth Investor – Thanks for the tip. I was thinking about adding ING but had no idea about the Zecco offer. Thanks!
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I’m Laura, I work for Associated Content. You should give us a try if you haven’t already! Like some of the previous comments said, we’ll pay you up front for your articles, more if you answer calls for content, and if you’re willing to do some promotion of your work (we are not a “get rich quick” scheme but offer a great deal of long-term earning potential for your content) you’ll be off to a great start. Feel free to contact me through the AC Blog if you have questions.
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Great Post, Big Crumbs is really easy to promote, Ive got hundreds of referrals earning me loads each month which Im happy with
I use this site to get my referrals:
YourDownline.co.uk – Build Your Downline For Free
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