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All of these small successes are a result of setting my monthly goals, which is breaking down my yearly goals into the smallest action possible.
Overall, we made a lot of progress in continuing our income streams and are on par for making our 2017 goals. Biggest goal this year is to get our mortgage down to below $25,000 and get to paying off our house by Aug 2018. With all of our passive income streams and my new job we’ve been able to stay focused on this ultimate goal.
On a secondary note, I had great success in rolling over my 401k from a previous employer and continuing to avoid paying taxes and incurring penalties for early withdrawal.
Balance: $42, 791
Paid last month: $2,264
Extra Money That Was Applied: $956
Goal of Pay Off Date: August 2018
Since we didn’t have any AirBnB customers in February and I didn’t sell any of my coins, then we weren’t able to apply a lot of extra passive income to our mortgage. Regardless, we chipped away at the principal by applying $956 of extra primary income by using my two-checking account system and automating my finances.
Here is a breakdown of my passive income streams from this past month and how we are doing it:
- Pension – [2017 Goal $1308] – didn’t lift a finger this past month to cash in on my previous employers pension and collected $109. Sweet!
- Blog Income – [2017 Goal – $7500] – [made $879 in 2017] – the blog has been a rock for me in making consistent income each month for the past six years, and this month was no different. Solid returns from our adsense ads and affiliates.
- AirBnB – [2017 Goal $2500] – [made $0 in 2017] – still no progress here due to some conflicts in schedule. I’m not worried though. We are already getting bookings for April and August, and I’m sure that a lot of the summer months will be ideal!
- Sell Stuff – [2017 Goal $2500] – [made $54 in 2017] – I had a goal of selling one coin in February, but I just couldn’t depart with some of my nicer coins.
- Peer-to-Peer Lending – [2017 Goal $25] – [made $5.89 in 2017] – pretty average month in terms of cash flow from this investment. I haven’t put any money into this investment since May 2016.
- YouTube Channel – [2017 Goal $25] – [made $12 in 2017] – didn’t earn much from YouTube this past month, but I’m still on track to make my yearly goal.
- Schwab Monthly Income Fund – [2017 Goal $10] – [made $1.48] – my 2016 investment of $500 from egg sales and selling other household items continues to pay dividends each month. I continue to reinvest these dividends to help grow this passive income.
That is the update for the past month on my passive incomes. Slowly making progress, so hopefully we can get this mortgage paid off and move onto bigger and better things.