At the end of each month I provide a recap on all the income I earned from dividends (in my brokerage account only), blogging, side hustling, and working at my good ol’ 9-5 as a data analyst.
Related: June 2017 Income Update
The reason I share my raw monthly income is because I have always found it beneficial (and inspiring) to actually see the real numbers behind a bloggers financial journey. I love talking about ideas on how to earn more money, but I think it’s helpful to show a behind-the-scenes look at how I’m actually earning money.
Here’s what my income looked like in July along with the previous three months. All of these numbers are post-tax.
|Monthly Income Streams|
|Ally Bank Interest||$3.18||$3.46||$2.56||$2.07|
Here’s what my July income looked like by type of income:
This month was an oddball in terms of how I earned money.
Normal: This was another ordinary month for statistics tutoring. I tutored four different people, all of whom I found through Facebook, and all of whom needed help with multiple chapters of their online courses. They all paid me via PayPal and I earned a total of $654.09 (post-tax).
Weird: This month I transitioned jobs, so I received two paychecks from my old employer (from my $52,000 salary) and one paycheck from my new employer (from my $80,000 salary). I have to wait another full month until I’m allowed to contribute to my new 401(k), so I have to sit tight and cringe at paying unnecessary income taxes on each paycheck until then.
Really weird (in a good way): This month I earned the most money ever from passive income, which was fueled by two new investments this month in my Vanguard brokerage account as well as increased blog earnings.
This month I invested in W.P. Carey (WPC), which is a REIT (real estate investment trust) that pays a whopping 6% dividend yield. I researched this company heavily and invested a substantial amount of money in them. I have been wanting to invest in real estate, but I hesitate to get a rental property because I lack the knowledge and resources to find a property that I would be comfortable purchasing. Luckily for investors like me, REIT’s exist, which allow me to invest in real estate in the most passive way possible. REIT’s are also fairly uncorrelated with the stock market.
I also invested in the Vanguard Consumer Staples ETF (VDC), which is an index fund composed purely of consumer staple stocks (think of Proctor & Gamble, Coca Cola, Wal-Mart, etc.). This sector of stocks has had the best long-term performance in the history of the stock market and performs well during market corrections.
With markets reaching all-time highs on a daily basis, I can’t help but think a correction is coming at some point. I’m not selling out of stocks, I’m merely investing in areas that will likely outperform the market during a correction. This is why I am currently investing in REIT’s and consumer staple stocks. As a disclaimer, I’m not an investing professional and you shouldn’t take my personal investing strategy as advice. Always invest in ways that make you comfortable!
The blog income also jumped up significantly. Traffic on the blog has been increasing steadily and ad revenues have risen in tandem. Also, I created a “Recommendations” page, which has affiliate links for products, services, and books I recommend. This month I earned just over $200 from affiliate links.
My income goal over the next year is to increase income from the blog and side hustles. I’m confident the blog income will continue to climb as I consistently post 5-6 articles per week and traffic inches upward each month. I’m not sure how to increase my side hustle income beyond it’s current level, simply because I don’t think I have the time to tutor more than 5-6 people per month outside of my day job. Online tutoring is such a hassle-free, easy way for me to earn extra money that I’m comfortable with the money I’m already earning from it.
That’s all for this month, thanks for reading 🙂
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