Hi everyone! It’s November already which means that it’s time to review my finances. Before I get to the numbers and the gore-filled details of my debt, I would be remiss if I did not mention everything that has transpired in my awesome city for the past week or so.
As hurricane Sandy (catchy name) bore down on New York City, we hoped that all would be well. By now, you already know that close to 100 people have died from Sandy and thousands have lost their homes and possessions. As I write, people are still sitting in the dark without electricity and heat. Thousands of people are effectively homeless as the coldest part of the year begins.
Normally, this is something that I would do at the end of this article, but this is so incredibly important, I felt compelled to put this at the beginning. If you have anything to spare, please text REDCROSS to 90999 to give a tax deductible donation of $10 to American Red Cross Disaster Relief fund which will help victims of natural disasters such as Superstorm Sandy. You can also donate to the New York Daily News, our hometown newspaper, and their disaster relief efforts through PayPal by going to http://nydn.com/sandyappeal. The funds are being used right now to purchase food, clothing, blankets, diapers and other products for displaced families. Supplies are being delivered daily directly to areas most in need. If you’re financially unable to do so, consider donating blood to your local Red Cross. Your selfless donations can help many families who are in dire need. Thanks in advance.
Now, my finances.
I’ve had the flu for over a week which then morphed into a nasty case of bronchitis. Add to that an allergic reaction to my prescribed medication and it was enough to take me out of commission completely. When you’re completely checked out rolling in bed with a fever and coughing up a lung, everything pretty much comes to a complete stop, but not the debt train!
I love being able to drag my laptop from my bedside table and pay all of my bills within a few mouse clicks or at least scheduling them for payment while I had enough strength to do so. Because I wasn’t too sure of how my finances were going, I tried to schedule at least minimum payments on all of my accounts and then went back to pay additional amounts. This means that I might not have paid as much as normal onto some of my debts, which will be reflected below.
I don’t have much to say about the debt this month. It is what it is and it’s finally trending in the right direction. As promised, the 401K loan is now gone and has been replaced by a mortgage. This mortgage has a 10 year term, but, as usual, I don’t plan on having the mortgage for that long. I’m shooting for a repayment period of a maximum of five years.
While I want to get rid of the mortgage sooner, it’s more important that I build up a cash cushion from my rental income to cover all expenses without having to depend on my other income to pay for any expenses or incidentals with the rental properties. This is important as I want to ensure that my rental income will not affect my cash flow elsewhere, especially as I contemplate leaving my current employer.
Again, since I was sick, I didn’t do much with the blog for income, but I’m committed to sharing how this blog is doing financially, so here it is. Since I’ll be listing expenses from now on I guess I’ll switch to sharing the gross amount. Remember, I might have earned it, but I might not have been paid for it.
Google Adsense How to Kill Bed Bugs: $0.73
Google Adsense Super Secret Niche Site: $134.14
Google Adsense Shirataki Noodles: $0.01
Google Adsense My Tenant From Hell: $0.09
Google Adsense YIAC: $138.90
Private Ads: $700
Sponsored Tweets: $14.68
Ad Site #1: $134.20
Ad Site #2: $42.00
Other stuff: $0
Well there ya go! I wanted to get above $1,000 this month and made it without lifting a finger. I forwarded all inquiries for advertisements to my ad manager this month, but out of about 11 ad inquiries only 1 panned out. I vowed to be more proactive in this front and failed miserably as my focus was elsewhere and then I ended up I bed for the past two weeks. If I am to build the income on this blog to replacement levels, I have to make this a priority.
For now, what you see is pretty much passive, meaning that I didn’t lift a finger to earn any of the money. It is nice to know that even when completely laid out in bed, I do have the potential to make some money without lifting a finger.
One thing that you won’t notice is the income that I should have earned from completing a website for a client. What I find is that clients are sometimes flaky and this one is pretty much as flaky as they come. He’s decided to focus on an, uh, adult entertainment site for now instead of dedicated to selling electronic components and accessories. Since I don’t build adult sites, we’ve parted ways for a while. But don’t worry. I’ll need to get off my ass and start pulling more clients to have steady income on that front as well. In the meantime, I’ll be building a site for my brother pro bono. That’s what family is for and I’ll slip it right into my portfolio.
But wait! I also said that I would list my blog expenses as well, didn’t I? Since we added Nelson as a writer last month I thought that it would be fair to list my expenses as well. What I won’t do is break down my expenses. I have to keep some things to the chest. Well, here it is:
I’m pretty cheap when it comes to running my blogs. My expenses include fees for my ad manager, staff writer and PayPal. I’ll have more expenses next month as a few of my domains (that’s the www address) come up for renewal.
I hope that you guys are all healthy and happy. See you next month.
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