Income Report – September, 2018
Every month I’m stoked to share these income reports. A journal of everything I make and how it works. My goal is to find new ways to make extra money on the side and create passive income streams to invest with. It’s a cool plan.
Here’s how September worked out
While it was awesome I had an affiliate sale for Bluehost, what was impressive was how the 10 additional income sources added up for over $116. It just goes to show that every little thing you do adds up!
Sad Fact: My second highest income for September was the 2% I get back from my cash back credit card. While it’s nice knowing I made back $30.96 from my purchases, it’s a little sad that I spent that much. Ugh.
Sources of Income This Month – $216.36
$100 – Bluehost Affiliate Income
$30.96 – Cashback Credit Card
$21.48 – Wallet Squirrel Affiliate Marketing
$15.11 – Wallet Squirrel AdSense
$12.75 – Stock Photography
$10.63 – Interest Checking/Savings Account
$8.94 – Dividends
$7.04 – Seeking Alpha Articles
$3.91 – Robinhood App Affiliate Program
$3.50 – Lending Club
$2.04 – Epic Niche Site Affiliate Marketing
What do I do with the income I make?
Every month I’m earning a couple hundred dollars which is awesome! That money goes to paying for the website including the website server, dotmain name and marketing tools. It adds up to about $71 per month to maintain Wallet Squirrel. Not including my time, but I’ve yet figured out how much my time is worth.
That extra money left over I use to buy dividend stocks (yay). This last month I bought 6 shares of Iron Mountain Realty (IRM) at $35.42 per share. It’s now at $33.89 per share so a better price so I continue to buy a few shares.
So with a 6.85% dividend, those 6 shares add $14.55 in additional yearly dividend income. Very cool!
What’s going on next month?
For those who are new, I’m working at creating a start-up. I’ve been fiddling with an idea for the last 2 years and decided I should just do it.
It’s kind of a long-term plan so I’ve developed a business plan (my first ever) and using all the free resources available to people including the Colorado Small Business Association and SCORE (Senior Core of Retired Executives) to help me fine tune my idea. This has included long nights at my desk, early morning in café’s working and even meeting at local Starbucks with consultants. It’s a lot of work.
Now that I’ve fine-tuned the business plan, I need to figure out some legal and tax things that I’ve never had to worry about before with the blog here. So I’ve been calling law firms that a nice enough to talk to me and scheduling consultations with a tax professional to hammer out my last “professional” needed questions.
When this is through (maybe next month!), I can finish building the new site for the start-up (part of it is done already!). It’s exciting to see this idea come to life and become more concrete every day but also a crazy headache seeing things move so slowly in comparison to starting a blog.
Baby steps…
Wallet Squirrel is a personal finance blog by best friends Andrew & Adam on how money works, building side-hustles, and the benefits of cleverly investing the profits. Featured on MSN Money, AOL Finance, and more!
Wallet –
Pumped to see what you have in store! Though it takes time, the diligence and information gathering is ALL worth it. Excited to find out more. Also, over $200 in hustle income is great!
-Lanny
hey there my friend. When will you be posting the next blog? 🙂