After a slow January with Airbnb, our income streams started to pick up steam and are continuing to grow! We continued to stay consistently above $1000 in extra income and our mortgage payoff is only three months away. With blogging and giving accountability to our mortgage payoff and passive income, this has motivated me, even more, to finish strong!
This past month our Airbnb income pulled in more than $500 as we finished the month strong and our summer months are already starting to get booked. With people booking ahead for the summer months we are already starting to raise our prices to capture some profits.
Blog income continued to remain steady and we are starting to plan on taking some summer trips. It is freeing to be able to take some trips and allows us to be more flexible with our money once the mortgage is paid off! Exciting!
Here is a breakdown of where we now sit with our mortgage payoff:
Mortgage Pay Off Countdown
Balance: $11,818
Paid last month: $3,070
Extra Money That Was Applied: $2,402
Goal of Pay Off Date: August 2018 – (new estimate: June 2018)
Here is a breakdown of my passive income streams from this past month and how we are doing it:
2018 Goals
- Pension – [2018 Goal $1308] [made $218 in 2018] – didn't lift a finger this past month to cash in on my previous employer's pension and collected $109. Sweet!
- Blog Income – [2018 Goal – $7500] – [made $1,341 in 2018] – a solid start to the year with netting over $700 in the first month! If I can keep this up, then $7,500 should be well within reach.
- AirBnB – [2018 Goal $10,000] – [made $626 in 2018] – slow start to the new year, but the coming months are starting to heat up!
- Sell Stuff – [2017 Goal $2500] – [made $14 in 2018] – sold my old DSL router on eBay, because I didn't need it anymore and was able to make $14 with minimal work.
- Peer-to-Peer Lending – [2017 Goal $25] – [made $4.26 in 2018] – this investment is continuing to cool off for me. I can't get out of this investment fast enough and move onto investing in dividend stocks!
- YouTube Channel – [2017 Goal $25] – [made $29.25 in 2018] – as of February 28th our YouTube channel is now demonitized, since we don't have 1000 subscribers! So if you could…subscribe to our channel! :)
- Schwab Monthly Income Fund – [2018 Goal $25] – [made $1.95 in 2018] – couldn't be more pleased where this passive income stream has gone over the past two years! As I continue to put in loose change, it continues to produce more and more! Boom!
This is my report of how I'm making side income and using that to pay off my mortgage. I'd be interested to hear what side hustles you've got, and what you are doing with your extra cash! Leave a comment below!
Charlie and his wife use the 2 Checking Account System to manage their finances – check it out for free.
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2 Comments
I love how you are posting your goals with the incomes! It takes time to get these going but it is well worth it!
Thanks! It has been great for accountability!