Side Income Report – October 2017 – ($19.98)
Creating side income streams outside of your main job is powerful for a couple of reasons:
- Once we reach financial freedom, these are income streams that will continue to pay us without needing to go to work.
- The more we make from side businesses, the less we will need our investment portfolio to generate in order to retire early.
- Also, there’s something just so satisfying about making money without punching a clock, even if we only make enough in one month to cover a single trip to Chick-Fil-A (yes, we love their nuggets).
For the month of October, we made $19.98 from side income hustles. This isn’t much in the grand scheme of things, but we’re just getting the ball rolling and hoping to grow these numbers over time. Let’s break this down from each source.
Wine Business Income: $11.50
My wife is currently focused on growing her wine business and this last month didn’t generate nearly as much money as the previous month did.
This money is currently unearned (not paid yet) and is accrued from the residuals. The main way to make money from this business when you’re getting started is with what they call the “Fast Start Bonus”. Basically, you will get paid $125-$250 for each person that signs up. The real money long term, however, is in the residual income, which is how we made the $11.50 this month.
Total Blog Income: $8.48
Right now I’m not really focused on making my website 100% monetized. My main goal is to create good content and the money will come later. This month, the website earned revenue from two sources, Google AdSense and Shareaholic.
Google AdSense: $7.42
Last month, I made $2.37 from AdSense. After making $7.42 this month, the website made an increase of $5.05 or 213%. This was generated from an increase in traffic from last month, mainly thanks to a referral from rockstarfinance.com (the majority of the 1,767 under Referral was from them).
Long term, my main focus is growing traffic from organic search (Google, Bing, etc) because there’s no guarantee that I continue to get referrals from high traffic websites.
Below is a picture of the various traffic sources to financialfreedom-journey.com.
Shareaholic is a platform that I’m not 100% sold on, but I do like the additional features it provides such as easily sharing a post to any social network platform. But, as a monetization platform, it doesn’t perform nearly as well as AdSense. This website, however, isn’t seeing a high enough amount of traffic to get a definite grasp on what works for making money and what doesn’t.
Side income milestone rewards:
Since we dropped below $50 this month, it will be at least 3 more months before we get to celebrate our first side income milestone reward. The $50/month frozen yogurt reward will have to wait.