Welcome to my first ever income report here on Dumb Passive Income. I’ve been hesitant to start doing these as my online income is sporadic at best. It might be another month or two or three before I have another net positive month, but I decided to start my monthly income reports nonetheless.
There are several reasons I decided to start sharing my side hustle income on this blog:
- This is my favorite part of the month in the blogosphere. Several bloggers and other internet entrepreneurs share their monthly income and expense reports and I always seek them out and read them. People are naturally curious about how others are doing, so I figured I would join in on the fun and help satisfy the curiosity of others.
- Income reports serve as proof. This blog is ultimately about how to create passive income (the dumb way). If I share exactly how much money I am earning and spending, people who read this blog will have proof that what I am doing is or is not working.
- Holding myself accountable. By sharing the details of my successes and failures online I will keep myself motivated. Nobody likes to share their losses and failures, so knowing that I have to report on my net income results at the end of each month will help me stay motivated to succeed.
Income and Expenses for July 2012
There are two ways I could report my income. I could report either the money that I have actually received – the stuff that is in one of my accounts and available for spending. Or, I could report the money that I have earned but maybe have not necessarily received yet. For example, my Google Adsense account has not yet reached the $100 threshold that is necessary for them to send me a payment so I didn’t receive any income from them. I did earn money through Google Adsense in the month of July though. I think my future reports will likely focus on money earned each month. For this month though, I will stick with only what I received, with unpaid earnings added at the end as a side note. Here we go!
- $150 from Budgeting in The Fun Stuff for sponsored post on my old blog
- $5.77 from Yahoo Contributor Network for page views on published articles from last quarter
- $16.00 to Mel Trotter Ministries for giving of 10% (rounded up) of my total income for July 2012
- $37.50 to Budgeting in The Fun Stuff for their 25% of sponsored post
- $9.95 to HostGator (Affiliate link) for hosting on this site and all of my niche sites
- $65.19 to GoDaddy for 7 domains for 1-year
- $8.66 from Google Adsense for July 2012
Income minus expenses for July 2012 results in a positive earnings report of $27.13! This does not take into account the unpaid earnings from Google Adsense. You need to have a balance of at least $100 for Adsense to pay out and my current balance sits at a whopping $27.79. Most of the $8.66 that I earned last month from Adsense is from my first niche site, with just a few pennies coming from my old blog. Hopefully, as I build up my portfolio of niche sites, I will start to have regular monthly payouts, meaning I will be earning at least $100 per month just with Adsense.
I had no affiliate income for the month of July, which is not a shock to me as I have not actively or seriously pushed for any yet. I am signed up for affiliate programs at the following:
- Amazon Affiliates
After I get my Adsense income rolling, I plan to implement some serious affiliate efforts as well. In fact, one of my future niche sites (on the list) will target a specific product that I can sell through Amazon affiliate links.
The Dumb Part of My Income and Expense Plan
They say you have to spend money to make money. It is wise to invest a little, or even a lot to gain greater investment returns. You have to spend money on something in order to start a successful business. I am doing none of these! I am stubbornly spending only money that I have already earned when it comes to my online side ventures. In other words, I am not mixing my personal finances with my online stuff… yet. When I get to the point that I am earning more online than I need to spend to expand my income efforts, then I will start bringing some of the money home. Likewise, I am not spending any of my money from my personal accounts on any of my online stuff. I know that it would be wise to purchase certain tools that would make some of my online efforts easier and faster, but I refuse to do so until I have the money available from other online earnings. In this way, I am building this business, or passive income empire, from the ground up. Essentially, I am investing nothing but time and slowly building up some small passive income streams. Eventually, these small income streams will start to snowball and turn into larger passive income streams.
Why I Know Success Is On The Horizon
If you didn’t catch the very first expense I listed above, it was the $16 tithe that I sent to a local charity. This amount was roughly 10% of my total income for the month of July. Not my total income minus expenses. I realize that if I plan to tithe 10% of business income that it should be on just the profits (which are after expenses), but I don’t care. It is my money and my business so I am giving on my total earnings for the month. Here is how I justify this..
I am a Christian. As a Christian, I believe what is written in The Bible. In The Bible there is a verse in the book of Malachi, chapter 3, verse 10 that reads; Bring all the tithes into the storehouse so there will be enough food in my Temple. If you do,” says the LORD of Heaven’s Armies, “I will open the windows of heaven for you. I will pour out a blessing so great you won’t have enough room to take it in! Try it! Put me to the test! By tithing on my side hustle earnings each month I am putting God to the test. He asked for it! I am just obeying, and by golly, I for sure want a piece of that blessing that he says will be so great that I won’t have enough room to take it in.
That’s all for this month. I hope you enjoyed my first ever income report. In the future, there should be less words and more numbers. I won’t have as much explaining to do and I will have more and greater numbers to report.
Until then, 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.