Another month is in the books and it’s time to report how much alternative income I have received last month. For those who haven’t been following my alternative income reports, it started as a way of tracking all my income that doesn’t come from a typical 9-to-5 job. That includes this website, interest from investment accounts, etc. Originally, I had visions of investing in Prosper (though I have found Lending Club to be much better) and getting a 13% annual return. If that were possible it would be fantastic. Maybe it is possible – but not with my skills as a loan picker.
I know I need to set up a FAQ on my alternative income… I guess I’m just Lazy.
For now I’ve pretty much settled on totaling up profits from online income. My income from investments (outside of retirement accounts, which is what I’d go by) is pretty low – probably not a huge factor in the overall number. Most of that online income comes from the website you are reading, but it’s slowly starting to diversify. I have a few other sites that brought in $300 in revenue and my new How To Fix is still a loss leader while I try to drive good traffic to it. My friend says that you build a website for 6 months from now – not for now. I think it’s 500% right on this one. So while How To Fix isn’t getting millions of visits a day, it’s growth is good and I’m happy with it.
Overall that I earned $1,683.95 from my sites last month. It’s not a great number, but it’s fairly steady while I look to grow and diversify web properties. The big question is whether it’s really worth investing my time and money in this way. I feel that it is, but it’s really difficult to be 100% certain when income seems to lag behind the development of the site.
Last month, I talked about another idea I had besides How To Fix. I have decided to put that idea on the back-burner… it simply required too much money to get off the ground to pay off in my opinion. I think I could spend the $1000 a month wiser at this point. We’ll see, I switch back and forth on this almost daily. That’s probably the best sign that I’m not ready to do it.