[Dumb] Passive Income Report for February 2014

Passive Income Report - February 2014
Creating income inequality – one website at a time – on my way to the top 1%!

Welcome to my [Dumb] Passive Income Report! This blog is all about what I am doing to create several different passive income streams. This monthly income report details my results. I work very hard and dedicate many hours each week to working on my different online endeavors in an attempt to create passive income. So why do I consider it passive income then? Because I am not trading specified amounts of time for a predetermined amount of money like I do at my day job. Most of the income you will see in this report results from work I have done in the past. Why am I sharing my income publicly? Hopefully to gain credibility with you (the readers) and to maintain a certain degree of accountability for myself. I could blog all day long about what I am doing to create passive income online, including some of my unique strategies. But why would anybody trust me and believe that what I am doing works if I don’t prove it by sharing my results? This is what I mean by gaining credibility and this is one of the main purposes for sharing my income. I also share my failures on the blog, which holds me accountable. Knowing that I will be publishing a monthly income report will keep me motivated to keep pushing forward and plugging away on the things I need to do to create future passive income.

Happenings in February

Two months in a row of bringing in 4 figures. Considering where I was just one short year ago, I’m ecstatic! Much of my income in February came from my Keyword Research Service. While this portion of my business isn’t exactly passive – I am using the income from it to grow my passive income earning sites. In short, I am using income that I receive from my keyword research service to pay for outsourcing for things I don’t like to do or don’t have time to do in order to grow my niche site income. Specifically, I am starting to test out different link building services. I hate building links manually – but realize that link building is essential if you wish to rank quickly in Google. And we all know that ranking in Google is one of the best ways to grow your passive income streams.

I had a record month for income (again) in February, but also had a record month for expenses. As you’ll see below, I spent nearly a grand during the month of February. This doesn’t bother me at all. I know that everything I spend now is helping me increase my passive income streams for the future. Although most of the money spent is considered a “business expense,” – I look at it as more of an investment. My expenses decrease my profit in the short term, but will increase my profits in the long term.

A lot of people constantly try to look for ways to decrease expenses in order to increase profits. I don’t look at it that way. It reminds me of the mindset of the frugal crowd. Live on less than you make. Live below your means. I’m not a fan of this at all! In fact, frugality annoys me (Sorry frugal blogger friends – I know a few of you read this). I relate more with the mindset that you need to expand your means to live the life that you want. I’m working to expand my means so that I never have to think about living below them.

With that being said, let’s take a look at my numbers for February.

Income and Expenses – February 2014

Passive Income

Affiliate Income from Dumb Passive Income

Other Income from Niche Sites, Old Blog, Article Writing…

  • $458.22 – Google Adsense (ad click revenue from niche sites)
  • $2.54 – Yahoo! Voices for articles I wrote a long time ago
  • $5.76 – Amazon Associates for sales on Amazon.com (explained in detail here)

Non-Passive Income

Services by Matthew Allen

Expenses

Hosting and Domains

Tools, Plugins and Themes

Outsourcing

  • $172.00 – to my private writer for article writing for niche sites
  • $0 – to oDesk for article writing (how I paid only $76.66 for 40 articles!)
  • $140 – to a virtual contractor who is helping me find keywords for my keyword research service
  • $100 – to The HOTH for a link building package
  • $167 – to Link Viking for a link building package (not an affiliate link – mention Dumb Passive Income as your referral source at checkout)

Miscellaneous

  • $42.56 – Paypal fees

Totals and Thoughts

Total income $1966.23 minus total expenses $995.13 equals a net profit of $971.10 for February 2014!

My Income and Expenses February 2014

February was an unusually high month as far as expenses go. Part of this was due to the fact that I had to renew my yearly subscription to LeadPages. The price just increased for LeadPages too – but luckily pricing was locked in for current subscribers at the original rate. LeadPages at the yearly rate is an incredible value (compared to the monthly) – and I feel like I am totally getting a steal by paying only $197 for it for a whole year. If you’re not using LeadPages yet, what are you waiting for?!

Another expense you may have noticed is the one for the “virtual contractor” that I am using for my Keyword Research Service. Without purposely seeking, I actually found somebody who has more experience than me who was willing and able to help me find keywords and produce keyword lists to sell as part of my Keyword Research Packages. This has freed up a lot of time for me and has also led to the availability of many more packages for sale. Even the quality of the keywords and the packages has increased as a result! The partnership I have established with this contractor (who wishes to remain anonymous) means less income for me, greater value for you – and it makes this portion of my business just a little more passive. I am thrilled at how it is working out.

You’ll also notice in my expenses that I paid for and tried a couple of link building services. I’m still monitoring the results and will try to keep you updated via the blog.

I haven’t been able to actively post on this blog as often as I would like. In fact, there were zero posts published between this income report and the last one. Yikes! But when I do publish, I promise the posts will be valuable and useful. Get signed up for my email list (opt-in box over there —> in the sidebar) if you wish to be notified when I publish these epic posts. By the way – I’ve got a post about half finished right now which is explaining exactly how I’ve been able to dramatically increase my Adsense income over the past couple of months. Not sure if I’ll finish the post this month or not, but I’ll e-mail my list as soon as I do.

Thank You! Thank You for taking the time to read through my latest income report and Thank You for contributing  if you have previously purchased something through one of my affiliate links! If you wish to support this site, but don’t have a need for any of my affiliate products, you could simply do your regular Amazon shopping through any of the links on this site that lead to Amazon.com. You won’t pay any extra and I will receive a small commission. Thanks so much if you do so! Remember that there are several dumb ways to create passive income online, but only one site that is blogging about it! Dumb Passive Income… dot com. -Matt Many of the links within this income report are indeed affiliate links. I will receive a commission if you choose to purchase after clicking through via any of these links. Thank You if you do! To your success and mine – may we all be profitable online. Good Day!

Remember that there are several dumb ways to create passive income online, but only one site that is blogging about it! Dumb Passive Income… dot com.

-Matt

Photo Credits:

mSeattle via Flickr

20 thoughts on “[Dumb] Passive Income Report for February 2014”

  1. Looking good Matthew! I like that you’re sharing your expenses as well, I didn’t even think of doing that when I started doing income reports. Good info to have.

    • Thanks Misty. I guess technically this should be called my income and expense report, right? But yeah, it’s definitely good for newbies who might stumble upon my site to see what kind of money I am spending in order to create this kind of income.

  2. Hey Matthew. Again, great job with your work the last month. I’m really happy to see you picking things up more and more. I’m thinking about trying out Crazy Egg. Looks like a pretty sweet service and I feel like I could make some good improvements with something like that. Keep rocking it, man!

    • Funny thing about Crazy Egg Josh – the service is pretty sweet and helped me immensely with the redesign I did for this site. It also showed me exactly where visitors were clicking on one of my niche sites that is getting good traffic, and gave me some better monetization ideas. But after I used the free trial for that information – I didn’t need it again in the near future. I went to cancel my account before the free trial ended, totally intending to pay later when I wanted to use it again for future niche sites. When I tried to cancel, they gave me an offer I couldn’t refuse. $65 for an entire year! But yeah, I definitely think it would be helpful for an Amazon site like the one you are doing a case study for. Can’t hurt to check it out (for free)…

    • I’m back. I know Raweewan. I should try to come around more often, eh? I’m really going to try to publish another post or two before the next income report. Got a pretty good one half done already.

      Congratulations on your first ever income report. I just went over and read it. Very nice!

  3. A big congratulations Matt! That’s really cool that your keyword service is gaining more and more traction. Personally I’d love to see what you think made such a big difference in your Adsense income and how your other niche sites are doing as well.

    • I realize I should have shared more details about my Adsense income within this report. And I absolutely would have – except that a new post I have half finished is ALL about that. I’ll update this income report with a link to that post after I publish it, and also link to it from future income reports. After all – this site is supposed to be about passive income – and a large percentage of the income that I am reporting isn’t totally passive. I’m more excited about my passive income streams that are actually increasing too! Details coming soon…

    • Without looking to see exactly, I would say that about 95% of the $458 is coming from one niche site. See my reply to MyMoneyDesign below for more info on that… Can’t wait to get my Adsense income into the 4 figures per month consistently!

  4. Hi Matthew,
    Sorry im a little bit confused, is Amazon Associates and Amazon Affiliate sales is the same?
    $5.76 is your amazon advertising fees from your Amazon niche sites ? just like Perrin’s and Doug’ Niche site earnings ?

    • Hey John – yes, Amazon Associates is the same as Amazon Affiliate sales. Amazon Associates is just the name of their affiliate program. And yes, I know my Amazon earnings are pathetic. I don’t have a successful Amazon site yet (like Perrin’s or Doug’s). The $5.76 you see here is just from a few random sales from this blog and maybe another site I own. I do have a good Amazon site in the works though and it is starting to climb up the rankings in the SERP’s. Within a few months, you should start to see some respectable Amazon earnings here in my income reports.

      • Hi Matt,
        ohh i see, thanks for the information.. I don’t mean anything about your earning, its just a have a black american friend who told me that he is an Amazon seller, that he have to answer questions for his product but he was asking me what is an Amazon affiliate, so its like he was confused of what i was talking about and i was confused of what he was into.. but now i realized that he must be an Amazon seller just like an ebay seller.. he even asked me how a person get commission from his own products to sell, so we were really confused about it..

        Anyway, yes ill be glad to see your amazon income reports … are you in a way working fulltime ? that daily job is affecting your amazon or niche site earnings ?

        • John – yeah, I guess you could say that my day job affects my website earnings. No doubt, I could be killing it if I did Internet marketing full time. But that’s not a risk I can take right now. I have a family who depends on my income. Plus, I’m not even sure I want to take that risk. I like my day job. My internet earnings are turning out to be a nice little bonus and something I plan to keep doing as a side hustle.

  5. Congrats on another great month! I really like that you have a contractor helping out on the keyword packages. I need to work on getting more things outsourced like that. Keep up the good work!

    • Thanks Doug. Yeah, getting help with my keyword service has helped immensely. Still though, I find it hard to accomplish everything I am trying to in the short amount of time that I have each day. I’m about to pull the trigger on hiring a VA to actually help with my niche sites too! I’ve struggled with giving up my 100% control – but know that it is a necessary step if I wish to continue to grow.

  6. Good Income Report Matthew! I found your blog on Matthew Woodwards blog and I see that you have some very quality articles. I see that you like to outsource some main activities – maybe is good maybe not…I prefer to have more control on the main activities 🙂

    Anyway, I wish you more good reports and I will contact you for a roundup posts in the near future.

    • I know what you mean about control StefanDo. I’m still struggling to give up some of it, but I am learning to let go and outsource more and more. It is the only way this thing is going to keep growing.

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