photo credit: Johnny VulkanIt is that time again to post my results for passive income generation for the previous month – February 2009. Overall, it was a decent month considering the struggling economy and declining stock market. Instead of panicking during these uncertain financial times, I am taking advantage of hidden opportunities to build new streams of passive income as well as grow existing ones.
Just this month I have released a new niche blog that focuses on a topic that I am passionate about. I have put a lot of upfront hours into this project and am almost ready to turn it on autopilot (or very close). My main method for earning income from this site will be AdSense. I am experimenting with different things and will share any tips or tricks along the way.
I have also started building Squidoo campaigns after purchasing One Week Marketing a few weeks ago. I am completely new to Squidoo so this was somewhat of a learning curve for me.
Here is a breakdown of my February 2009 passive income results -
- Dividend Income – $57.32
- % Change = (-26%) compared to last month
- Peer Lending Interest – $25.28
- % Change = (-13%) compared to last month
- CD Interest – $141.23
- % Change = +3% compared to last month
- eHow – $27.85
- % Change – +99% compared to last month
- AdSense – $9.60
- % Change = (-45%) compared to last month
Grand Total – $261.28
- % Change = (-9%) compared to last month
Last month I reported that one of my Prosper peer loans had gone into charge-off status. As a result, I deducted the remaining principal on the loan from my monthly passive income earnings to adjust my numbers accordingly and account for this loss. Fortunately, I had no new charge-off loans in February, so my adjusted grand total remains the same as my grand total for the month.
Adjusted Grand Total – $261.28
- % Change = +7% compared to last month
Analysis
As I mentioned before, February was a decent month considering the deteriorating economy. It was also a shorter month by 3 days compared to January which brought the results down a little. I believe that I am still on track to meet my 2009 objectives for passive income generation. My goal by the end of the year is to bring in $1,000 per month in passive income. I am just over 25% of the way there.
Passive Income Breakdown
Dividends – February dividends included payment from Masco Corp. (MAS) (which is on my sell list), BB&T Corp. (BBT), and Harvest Energy Trust (HTE) . I expect my dividend earnings to slowly drop over the next few months as I am working to reallocate my dividend stock portfolio.
Prosper Interest – My interest from peer lending dropped by 13% compared to last month. Since Prosper is currently not allowing any new loans to be funded, I have not contributed any new money and therefore have not funded any new loans. As a result, my interest income will continue to decline until I can lend again. Another reason for the drop was a result of the charge-off loan from last month. Since this loan is in charge-off status, I will no longer earn interest from this source.
CD Interest – My CD interest increased by 3% which is a very steady and stable income stream. Unfortunately, as interest rates continue to drop, I anticipate a slow drop coming in the next few months as I will be rolling over some expired CDs.
eHow – I saw a 99% increase compared to last month and expect to see continued increases each month. I am still busy writing these articles which will pay off several months and years down the road! If you are new to eHow or are interested in increasing your earnings, I recommend purchasing How to Earn Passive Income on eHow.com: Maximize Your Online Earnings, which is a great resource.
AdSense – I saw a big percentage drop in my AdSense earnings compared to the previous month. I am not sure why this happened as I saw increased traffic on PFI compared with last month. I am working to ad some AdSense revenue to my income stream by placing these Ads on a new niche site I recently released. Let’s check back to see how I am doing in 6 months!
Final Thoughts
As usual, the number of passive income ideas swirling around in my head are incredible. There are not enough hours in the day to tackle them all so I am trying to focus on specific tasks and campaigns to build new income streams. As I noted earlier in the week, I recently purchased the One Week Marketing eBook from PotPieGirl which has helped me out a lot. One area that I didn’t expect it to help me was in time management and staying focused. However, after reading through the material several times, the information has helped me to stay focused and complete specific tasks and then move on. I am ashamed to say that before reading One Week Marketing I was all over the place and at times very unorganized.
What passive income streams are you working to build?
Related posts:
- Passive Income Results – March (2009)
- Passive Income Results – January (2009)
- eHow Passive Income Results – February (2010)
- Passive Income eHow Updates – February (2009)
- Peer to Peer Loan Status – February (2009)
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{ 7 comments… read them below or add one }
I’m sorry to hear that you are down a bit, but I think everyone is! I’ve had a bit of a fall with adsense too. WHAT DO YOU DO? Just keep on building that PI!
Brandon’s last blog post..Franchising For Cash Flow
The One Week Marketing book sounds like a great return on education. I think I may have asked you before, but how much time in a day do you have to devote to your passive online income. I don’t recall whether you are currently working full-time or not. I do work full-time, but I am always working over my 40 hours on passive income ventures, because I want to have the option to work as an employee or self-contractor, versus having to because I have no other options.
Steve’s last blog post..Do You Recognize these Early Warning Signs of Career Atrophy?
@Steve – I blog and build my passive income on a part-time basis, although it seems like it is full-time a lot! I devote 4 to 6 hours each day on my passive income ventures.
pfincome’s last blog post..Recession in America – Building Your Savings
PFI,
Have you considered increasing your interest income by opening a Rewards Checking account? These accounts let you earn up to 5%-6% APR on your average balance every month. The main catch is that in most cases you can only deposit 25K, enroll in direct deposit, forgo paper statements for electronic ones and make 10 debit car transactions monthly.
BloggingBanks’s last blog post..Bank Bonuses worth $500 Expiring Very Soon
@BloggingBanks – No, I haven’t looked t any Rewards Checking Accounts. That sounds like a great rate. Any suggestions on opening an account?
pfincome’s last blog post..Recession in America – Building Your Savings
If you don’t mind sharing, I’m curious as to what time frame you are using when rolling over CD’s right now? I think we’ll see 10%+ interest rates sometime in the next few years, so I’m going to keep my maturities extremely short in the meantime that way I can capitalize when that happens and lock things in long-term at a great rate.
Blake’s last blog post..A Simple Way to Boost Motivation
@Blake – I am only rolling my CD’s into 90 day contracts. As you noted, I think rates will be up a lot by the end of the year so I am holding out for the next few months. What reasons do you see rates over 10% by years end?
pfincome’s last blog post..Recession in America – Building Your Savings