Monday, 1 August 2016

Income Report: July

So the quest to develop more stable earnings streams continues. One of the big issues (still) for me is that I haven't yet shifted to the passive income approach that I've been gunning for long term. It's still not balanced and as a result it's aways active income - i.e. I need to be trading time for money. The long-term goal is to shift away from this. But for now it's all about stabilizing the income.

So for now, let's see how this month went.

Resume Writing: $1,450. This was a pretty busy month for me and about +90% higher than May. Despite people heading to the beaches for the summer, there's always someone job hunting and in need of a resume.

The fact that I haven't gone away this summer means that I've been overloaded a bit because others have gone away.

I still haven't sorted out a resume business locally, which would allow me to charge more for the same service. But I've been too busy...And I don't want to be purely a full-time resume writer for someone else.

Article Writing: $130. I had one of my usual articles to write and also managed to get a new contract elsewhere, which should be a consistent gig as well.

Prolific Academic: $7. Not a big month at all for me here. Not many surveys, simply because I've been too busy elsewhere.

Zero - not great for me and my goals to improve the mix of income...

So that's it: $1,587 compared with $873 the previous month and $1,127.50 for May. So it's heading in the right direction! It just needs to be more balanced in terms of trading time for money.

I'll give myself a score of B-. It's good in terms of an improvement on the last two months but I still need a lot more diversification and a lot more impact in ths passive income world. My goal is to to make time to diverfy more.

The journey continues. 

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