Every month I will list my online earnings from the past month to give you some insight into at least a few ways money can be made on line. Whether you are trying to earn extra money as a side-hustle, or totally break free from the job paradigm and own your time, there are a lot of options for income generation and most of them are possible for anybody. All of the work I did could have been done in addition to working a full time job. I currently choose to live off less and enjoy the freedom, but you don’t have to be willing to live off of $1500 or $2500 a month for all of these techniques to be worthwhile. In fact, many of my more lucrative projects are the ones that involve the least ongoing time investment.
Keep in mind that some income sources might not directly involve the internet, but as they still further the cause of freedom I will include them.
Also keep in mind that I do my record keeping on a cash accounting method, so I only count the expenses and income for the month where they actually hit the account, not when the sale or purchase may have taken place. So for instance, the Youtube revenue was actually earned in January, but was deposited this month.
It is important to remember that I while I choose to do all this as my sole source of income right now so I don’t have to work a normal job, I could have done all this and made the same amount of money while working 40 hours a week at another endeavor if I just wanted to make a bunch of extra money.
Here are my results from February 2016 with some brief explanations:
February 2016 Total: $1,333.15
Online Sales: $-704.18
This includes eBay sales, Amazon sales, and Bookscouter. This is negative due to a large amount of inventory purchases, a few items that had to be refunded, last month’s ebay fees bill not hitting the account until this month, etc. This is what is responsible for the overall monthly total being so low. It all evens out though, as all the inventory will be sold in the coming months and raise those averages.
Affiliate Sales: $88.64
These are all sales made through affiliate links on my Youtube videos and websites. This category is always one of my favorites to report as it is probably the one I spend the least amount of effort on, and yet it is a consistent source of income, even if small. This was all from Amazon affiliate links for this month.
Local Sales: $0.00
This category is for sales where I met the buyer locally and did not ship the item. Nothing was sold locally this past month.
I count the income the month I actually get it, so these are actually my earnings from January. Most of this was from my two main Youtube channels, with $5.95 coming from Google ads on my websites. I had a set a goal for the year of averaging over $900 a month in Adsense earnings, and so far I am off to a rough start. for better or worse, it doesn’t appear to be due to anything I am doing, as all the important metrics (total views, subscribers, etc) have all been improving. I suspect it is simply due to businesses spending less on internet advertising than in years past due to the current state of the retail economy, so there is less money to go around. Then again in could just be random variance. We will get a clearer picture when we have a few more months of data. In either case making more videos and getting more views is what needs to be done.
This also illustrates why it is important to have as many independent income streams as possible, as any of them can fluctuate or even disappear at any moment, even if you don’t necessarily do anything wrong.
Another stellar month of earnings with almost no work from Buythermite. Average income from this site for all of 2015 was $74.12, so this is well above the current average. Here’s to hoping 2016 sets a new, higher average! So far it is well on its way.
Credit Card Rewards: $160.83
Another great month of almost free money from credit card rewards. roughly $60 worth of this was from cash back rewards on my personal spending, and $100 was the result of two $50 referral bonuses from getting other people to sign up for the Discover IT card.
This is a combination of rent, utilities, and internet payment from my girlfriend. Having a roommate that allows you to split housing costs is a great way to more easily and quickly reach a point of independence from the job paradigm.
While not strictly internet income, I include this because it also just gives a more clear picture of my income and what I am working with.
Other Earnings: $305
This is a combination of a small amount of earnings from my Uber experiment, a few bucks from birthday gifts, and payment for advertisements that are going to be in a free ebook I will be giving away on this website soon (stay tuned!).