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My First Monthly Income Report: September 2015

In this blog, I write about what I am doing to create several different income streams coming from online endeavors. The monthly income reports detail my results.

Why am I sharing my income publicly? I hope to gain credibility with you and to keep some degree of accountability for myself. It’s one story when I blog about my victories and losses, and it’s a very different one when the posts are supported by real numbers. That’s how I can prove that not only do I brag about achievements but also do a hard work every day to reach the said level.

The reports motivate me. I tend to forget my small victories… and reports like this one won’t let me do it 🙂 Apart from that, they help me to remember how much I have already invested. It is a motivation to push harder though this is the one more of a negative one hehe. Well, I need different kinds of motivations, right?

In addition, the reports show clearly which methods of making money online work and which do not. Also, they will show how much upfront investment you would need if you want to pursuit a particular money-making strategy.

Ok, back to the numbers!

The month September 2015 has had mostly expenses though I did see some income coming in!

Expenses

I am in the very beginning of my journey with niche websites, and I do not have yet any website that brings money. I have not bought any “established” website yet. I have built only one niche website, and it is a way to early for it to start earning.

There were some more or less significant expenses in August (for example, I paid to Human Proof Designs for the niche website – write about it in a few days), but I decided to leave them out of the scope of this income report in the sake of simplicity.

So, let’s see how much I have spent in September 2015 and where the money’s gone to.

I own a few blogs, and so far I have been hosting them on HostGator. For me niche website, I decided to try something else. I read about praises other bloggers are giving to BlueHost, and I decided to try it out. It was a great move! Each time when I log into the HostGator’s CPanel, I feel like I was carried back into the past into the early 2000s or even 90s. Apart from an outdated look, it is hard to navigate and on top of that the billing and domain management are done in a separate interface from a different account. The slick and modern UI of BlueHost makes it easy to find a needed service plus the billing and the rest is done from the same place under the same account.
So if you want to get a hosting from BlueHost, you can use my affiliate link.

It was my first time hiring freelancers. I am used to writing everything myself thinking that both my wallet and mind benefit from that. While it is true, the amount of writing required for a modern regular niche website is huge! At least from my humble point of view. I got it with about 10,000 words written, and I still need to write … more. Doing it all by myself is a clear way to burning out. So, I ended up hiring two writers on Upwork (though one of them quickly churned out). I will write more about it in the future.

Income

Still, I managed to earn some income in September. In the expenses, you noticed the line about Online Investments, and now it’s time to talk about it.

I invest into American small businesses through an online investment platform called Kickfurther.

Kickfurther is like Kickstarter, but instead of a product you get real money! Click To Tweet

On Kickfurther, businesses ask backers to fund their inventory in exchange for a consigned rate. If the funding goal is met, Kickfurther buys the inventory and provides it to the business. The business then sells it, making payouts to the backers monthly depending on the inventory sold.
If you want to know more, you can read it my post about this online investment platform in which I talk about ups and downs and also about my investment strategy.

It seems that my online investment revenue is pretty modest, but I am just getting my feet wet with it. So far I have been pretty careful. I have invested small amounts in a variety of projects, and the majority of them has a payout timeline of 6 and more months. I started playing with it only 4 months ago, in June, so the avalanche of payouts is still yet to come.

So far I have invested into 13 projects totalling $1,084.00. Two of them have already paid fully ahead of the schedule (one in August, another one in September), and one of the projects has been cancelled. My current lifetime profit is $22. It is 2% over 4 months, which gives 6% yearly. Much better than the rate you can get in banks! But in fact, it should be even better.

Also, I do not count here the projects that have paid the loan partially. There are 3 of them, and I hope their positive dynamic will stay so till the end.

And the best thing about it is… This is a real passive income! I did close to nothing to gain it. Ok, I did do a bit of internet research and read about the companies. In terms of efforts, it is sooo minuscule comparing to making money from niche websites! You may ask: Where’s the catch? Well, I will write about it in a separate post!

Totals

Here are my totals for September 2015.

Total income $197.00 minus total expenses $467.85 makes a net profit of -$270.85.

Yeah, I have spent quite some money in September! And I plan to spend even more in October since I will proceed with my ultimate plan further and finally buy one or two established websites.

Stay tuned!