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Almost to the end of 2016, and we are pushing hard to finish the year strong. It is amazing at how fast the year has flown by and my labor of passive income streams is producing a plentiful crop. These streams are going a long way to help us payoff our mortgage 17 years early and continue to help pay for our private schooling.
This past month I had my AirBnB efforts continued to pay big dividends, and I only had four days of occupancy. The reason I was able to charge so much was that those four days were around Thanksgiving.
Secondly, my blog income dropped to its lowest level this year, because we had a big sponsorship fall through. Regardless, I’m still pushing forward, and going to continue to focus on producing good content and be creative in giving people ideas on how to save money. In addition, I’m trying to decide on content for starting our YouTube channel, which is slow in starting.
Now here is a breakdown of what this past month’s passive income and mortgage payoff look like:
Mortgage Pay Off Countdown
Paid last month: $2665
Extra Money That Was Applied: $1357
Goal of Pay Off Date: August 2018
- Pension – [2016 Goal – $1308 – made $1199 thus far] – the pension continues to feed our private school fund at a consistent rate with no required action.
- Peer-to-Peer Lending – [2016 Goal make $100 – made $33.02 thus far] – this past month I had one note that was “charged” off. That means that there is no expectations that the borrower is going to return payment. That is one of the downfalls of investing in the B,C, and D notes. Made $2.74 this past month, which was one of my lower months.
- Egg Sales – [2016 Goal – $360 – made $112 thus far] – continuing to focus on my AirBnB operations and other priorities at home. Probably going to remove this category from next year.
- Blog Income – [2016 Goal – $6000 – made $7048 thus far] – month over month our blog income has been one of the most consistent passive incomes for our family and is helping us pay private school and get our mortgage paid off early. This past month I only made $274, which was the lowest monthly blog income this year. We had one big advertiser fall through, but I’m hopefully about finishing the year strong. Either way I’ve exceeded my goal for the year.
- Two Checking Account System – [2016 Goal – $500 – made $263.00 thus far] – this income stream has pretty much stopped after I made my initial video and system in January. I’m thinking about starting to make videos for my passive income update and publish them as I get towards my final goal.
- Schwab Monthly Income Fund – [2016 Goal – invest $1200 and make $100] – drip…drip….drip. This investment that I’ve halted contributions too is providing a nice cool $.77 per month. :) Pretty easy passive income that doesn’t require a lot of work.
- Amazon’s MTurk – [2016 Goal – make $500 – made $30 thus far] – no progress here as I focus most of my efforts on the blog and AirBnB.
- AirBnB – [made $877 this year] – I can’t believe how much this income stream exploded out of no where. In just three months I’ve supplemented my passive income $877, which has gone directly towards my mortgage payoff. I have high expectations in 2017! I’m excited to make a goal for next year for this income stream!
Over the last 11 months I’ve demonstrated just how I’m supplementing my income to the tune of $10,300 by being creative with a little time and resources. All of these fruits are going toward paying for private school and accelerating my mortgage payoff. It is hard to believe how it all adds up and small trickles slowly become flowing passive income streams!