Happy New Year everyone! With the start of a new month, it’s time to review my alternative income progress.
Last month, I was excited about a new income stream. I found a friend who I could help (with minimal effort) and collect a nice fee. It pushed my alternative income over the $1800 mark last month. I suspected that it could be irregular income and I was right. It returned zero this month.
That was the bad news. The good news is that I had a much better month of December. I ended up with $2,219.54 after taxes in December. For those curious a large part of that came from this blog. However, Lazy Man and Health contributed as well. I expect to add one or two more sources of income in the next month. I fully expect it to be “small potatoes” for a little time – just earning a dollar or two a month.
While I still need to set goals for 2008, this success and the timing of this post has pushed me to set a preliminary goal. I have been increasing my alternative income around $150 a month. If this continues (which is a huge “IF”), at the end of 12 months, I’ll have added $1800 to my $2220 this month. That would put me at $4020 for December of 2008. I’m going to aim for $4166 though. It sounds like a random number – however it’s exactly what I’d need to get to be on pace to earn $50,000 a year.
Just thinking of making $50,000 after taxes with side businesses makes my head spin.