This past month has continued to help me progress towards my two primary goals of making $7,500 from the blog and $10,000 from AirBnb! We got a few visitors this past month at our BnB, and we had a ton of bookings for the summer months! With that said, we've already started increasing our prices, to combat the supply and demand for the middle to late summer months
Overall, I couldn't be more pleased with the progress we are making in funneling our income streams into paying off our house. We have just under $8,000 left to pay on the house, and then we will be officially debt free! It is hard to believe! It has been a long hard journey.
In the coming months (after the mortgage payoff), we will focus our extra monies in preparing to buy a new car and taking a family vacation in October. It is nice to have some extra income now that the mortgage will be paid off.
With that said, here is a breakdown of where we now sit with our mortgage payoff:
Mortgage Pay Off Countdown
Paid last month: $4,399
Extra Money That Was Applied: $3,091
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:
- Pension – [2018 Goal $1308] [made $327 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 $2,071 in 2018] – a solid start to the year with netting over $700 this month! If I can keep this up, then $7,500 should be well within reach.
- AirBnB – [2018 Goal $10,000] – [made $1,301 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 $6.06 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 $2.89 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.
Check out Robert G. Allen's book, Multiple Streams of Income, that Charlie recommends. Allen researched hundreds of income-producing opportunities and narrowed them down to ten surefire moneymakers anyone can profit from.
$13 (and less if you buy used at Amazon)