Side Income – October 2020 ($1,560.47)
October has been a very busy month for our side income. I have been focusing a lot on getting this blog back up and running, which required me to find the old WordPress backups I made 2 years ago and get them restored on my server (which took longer than I had hoped).
I’m glad I got the blog back up since it has been a lot of fun writing these posts so far. I really enjoy being able to engage with my audience and help out with anything I’ve learned on the journey so far.
But without further ado, here’s our side income from October 2020.
Dividends – $798.13
The majority of dividends received this month was from my Fidelity 500 Index, was comprises most of my 401k. Occidental (OXY) unfortunately cut their dividend down to $.01 / share making it pretty unattractive right now. I’m really hoping for an oil rebound in the near future which would help out our net worth and dividend income.
Business Income – $649.67
On the business income side, we’re focused solely on my getting my wife’s business to grow. I have been contemplating ways we can expand her income streams from the content she creates each week. Those ideas landed us two new potential income streams:
- First, we added a new shop using Printful to create and fulfill any purchased items. There is currently only clothes on the shop, but we are looking to expand it by adding accessories and different designs. We have ordered a few sample products before marketing it to the public to make sure the designs come out high-quality. I wouldn’t expect any sales from this until November at the earliest.
Shop Income: $0
- Second, I added a new landing page to sell her online workout videos. We are still finalizing this but essentially we are going to take out a few advertisements to drive potential customers to a “landing” page on her website, and ideally get them subscribed to her custom workouts she does each week. She works her butt off on these videos so I have no doubt the value is there.
Online Workout Income: $0
Total Business Income: $649.67
Cash Back Rewards – $63.43
I’ve been using Schwab’s American Express card to earn cash back each month on our purchases. One of the things I like most about the card is it will deposit the rewards directly into my brokerage, where I can turn around and purchase more stock.
Interest Income – $49.23
While we are waiting on our house to be built, we have a good chunk of cash sitting and earning a whopping .60% interest. This amounted to $49.23 for the month of October.
Blog Income – $.01
Big time income in this category. I just started my blog back up last month so I wasn’t expecting to get much traffic. On top of that, I still haven’t gotten AdSense re-approved so my only blog income is from Shareaholic (which I’m not sold on for really generating much income).
I’m looking at the blog as a long term investment, and not really expecting it to make any money in the near term. Even if it never generates any substantial traffic, I still enjoy writing these posts. At a minimum, my wife and I can look back at our journey and see all the progress along the way.
I started the blog back up on October 17th, and the traffic has been pretty unimpressive so far with only 75 users this month. Below is the breakdown for this blog’s traffic.
Right now, there’s very little traffic coming from search engines. That should change in a few months from now and really help drive some traffic. As I said above, though: even if the website never gets big, It would still be a cool resource to look back with my wife when we are finally financially free.
Shareaholic Income: $.01
Total Side Income – $1,560.47
Here’s our side income summed up in a nice pie chart.
I would love to hear how your side income streams did in October! Leave a comment below.
Interested in seeing how we’ve done previously?
Disclosure: I am/we are long the stocks mentioned above. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
This article is for informational purposes and does not constitute as financial advice. Readers are encouraged and expected to perform their due diligence and draw their own conclusions before making any investment decisions.