December 2018 Passive Income Report

2018 in retrospect has been a crazy volatile year for me. There were many highs and lows, not just in the markets, but in my life. In fact there were more lows than highs for me, but they were learning experiences. I found who I was, and what was most important to me. Also, this was a refresher. I had grinded so long without adequate nutrition, sleep, and time management skills; that this year I was able to recharge and rebuild myself from scratch. That came with lots of pain, but it was well worth it.

For much of the year I was lazy. It came as a result of depression and not knowing what my true path in life was, so I was stuck. Much of the year I wasn't working but playing around, treating my endeavors as hobbies as opposed to real work. Thus I was lost. But after going through the firestorm of emotions and self destruction, I rebuilt like a phoenix. I learned that I had to consolidate and choose what I wanted out of life and keep chasing after it. Not everyone would understand or be in my corner, but that was fine. I had to want it, and my lack of results showed for it.

So, it took me 1 year to finally figure out my path, and I'm still fine-tuning it. I am committing to being an entrepreneurship for another year - side hustles and jobs included. What I learned in 2018 is metrics. I had to have a goal for each month, week, day and hour; and I had to track them. If I don't meet goal, I had to keep pushing until I did and strive for better results like a well oiled machine. This is how companies operate, so I needed to act like a business and not as a hobby. I needed benchmarks:

From just creating a monthly benchmark goal to hit, I was able to meet my goal. I was a bit lucky this month because I had income from the mining rig parts I sold: 1/4 of which I used to buy parts for an editing/producing/farming pc build, for generating even better content while earning more passive income. Next month should prove to be challenging as I will have to use the cash I earned from selling on Ebay to buy and sell for a profit this next month of January 2019.

Additionally, I will be using the time to procure side hustle jobs to make myself more solvent, invest  more, and pay down debts. As a result, I installed an Android & iOS app called Shiftgig to earn some cash every month to meet goal. I will also be looking into part time gigs to work that will give me the work-life balance to reach my entrepreneurial goals.

PASSIVE INCOME PORTFOLIO 
Income Stream Growth Challenge:
  1. Ebay/Ecommerce
  2. Affiliate marketing
  3. Robinhood trading
  4. Dividend Investing
Divestitures:
  • Cryptocurrency Trading
  • TD Ameritrade

PERSONAL FINANCE
Section 1: Debt Reduction

Beginning Dec 2018 Debt:  $25,772.95
  • Credit Card balance transfer: $7,272.95
    • Citibank: $2,500 + 137.95 bt fee
    • US Bank: $4,500 + 135 bt fee
  • Student Loans: $18,500
Ending Dec 2018 Debt:  $25,642.29
  • Credit Card balance transfer: $7,220.95
    • Citibank: $2,585.95
    • US Bank: $4,635
  • Student Loans: $18,421.34
    • Group C: $5,440.81
    • Group D: $7,377.87
    • Group E: $2,275.71
    • Group F: $3,326.95

Section 2: Income Benchmark 

December Income: $1,061.38
Ebay Sales: $1,215.08
  • Ebay fees: 102 
  • Shipping costs: $111
  • Net Sales:  $1,002.08
Affiliate Marketing: $1
Robinhood Trading: -$178

Dividend Investing: $9.30 per month (+272%)
Smartphone/Web Farming: $20
Side hustle: $227

Conclusion
For 2019, I will recommit myself to another year of entrepreneurship and money flipping to reach my goal of becoming financially and personally autonomous. To work from anywhere, generate lots of cashflow, and be fulfilled. Stay subscribed to keep in touch and join my progress.


December 2018 Passive Income Report December 2018 Passive Income Report Reviewed by Dividend Raptor on 8:13 PM Rating: 5

No comments:

Sponsored Ads

Powered by Blogger.