Passive Income Streams: October 2018 Report

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This past month I’ve been having to do a lot of traveling for work, and it has been hard to find a regular rythm for keeping up with my multi streams of income. Regardless, I’ve continued to stay focused on tracking my monthly net worth, and hoping to increase my total net worth by about 12-14% this year. I’ve been really aggressive in my 401k/IRA/Roth IRA portfolios, but still maintaining about 80/20 stock/bond allocation.
As we come into the final quarter of this year I’m continuing to stay focused on the AirBnB, and getting good reviews and keeping this as a primary source. In addition, I’ll be starting to take a look at buying another home in the spring time, now that my primary residence is paid off. I’m hopeful to get a deal in early 2019, and hope to snatch a deal in Jan-Mar timeframe when the weather is cold outside and no one wants to go to open houses!
Lastly, the family and I are planning on taking a once in a lifetime trip to Disneyworld for 7 days, and have been planning on taking this trips for months! We are dropping a lot of coinage on this trip, but really have come to value family quality time now that I’ve been having to travel for work. I’ll be sure to post next month some pics and give an update as to how my income streams faired while I was gone.
Speaking of income streams, here is a monthly wrap-up of how our income streams faired last month and if we are on track.

 

The summer months seem to be dragging on with the kids out of school. Can I get an AMEN from all the stay-at-home parents?

In July we took a lot of trips, and worked on relaxing! For my wife’s birthday, we took a four day weekend and went to Traverse City, and Mackinaw Island! Was great to just get out of the house and relax! Then we came back and spent a couple of days with the in-laws at their cabin in Central Nebraska! Finally, we round out the month by hanging with my sister’s family at a lakeside resort in North Central Iowa! Feels good to be enjoying the freedom of having our house paid off, and be able to do these trips! In a way, we are pausing from any real savings and just enjoying our new found freedom.

In the meantime, a buddy and I have been starting to talk about buying multi-family income properties from a local guy. It might not be until the springtime, but now is the time to get people and resources lined up!

With that said, here is how we did last month with our multiple income streams:

Here is a breakdown of my passive income streams from this past month and how we are doing:

2018 Goals

  • Pension – [2018 Goal $1308] [made $763 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 $3827 in 2018] – the blog income is going to take a sizable dip for a while. AirBnB has officially taken the lead as my primary alternative income source.
  • AirBnB – [2018 Goal $10,000] – [made $5865 in 2018] – July was another healthy month, and AirBnB continues to be a workhorse for as my primary income stream! I am continually amazed at how helpful this income source has been to our family! It has me considering AirBnB’ing my own home next year after we buy another house.
  • Sell Stuff – [2017 Goal $2500] – [made $14 in 2018] – didn’t sell anything this past month, so nothing to report here. :(
  • Peer-to-Peer Lending – [2017 Goal $25] – [made $12.58 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 demonetized since we don’t have 1000 subscribers! So if you could…subscribe to our channel! :)
  • Schwab Monthly Income Fund – [2018 Goal $25] – [made $7.31 in 2018] – my biggest month ever with this easy and simple income source. All of this money has been from selling eggs on the side! Cha-ching!

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.

allen-bookCheck 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.

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One comment

  1. Lindsey says:

    As a side hustle, my husband and I both do mystery shops. We each do one or two a week, depending on what is available and appeals to us. Some take more time than others (some of the paperwork and downloaded pics can take a lot of time, but we can do it while watching a dvd) but on average it takes an hour to travel to and from the shop, do the shop and submit the report. So far this year I have made $810 and the husband has made $1001. We also get free merch, mostly gas and convenience items (we usually select a pop, since we don’t buy pop as a rule so it is a treat), oil changes for our two vehicles and vehicles of family members, and a few restaurant meals.

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