There is a magic in blogs that track their progress on big goals. I’ve watched fellow bloggers quit their jobs, buy their first home, or land sweet gigs thanks to their awesome internet writing. In keeping with such inspirational bloggers, I’m tracking my own progress on two big financial goals. This is the first month of results. I’m a little nervous!
Goal 1: $80,000 Down Payment Fund
Down Payment Fund, October 2013: $-814
I didn’t get back into debt. I just want to have a certain amount of cash for contingencies and cash flow planning before I begin saving the $80K. I am $814 away from this figure, so hopefully this becomes an actual fund next month. Most importantly, I think this money should be invested during the next two years so that it can grow while we save. I will have a better plan for that by next month.
Goal 2: $2,000/Month in Side Income
Side Income, October 2013: $614.87
Not bad, right? The majority of that came from an eBay business I manage. I get a share of the sales. So it was mostly sales, and $50 for a quick writing gig. Other opportunities I have not tapped into are some consulting offers, and looking at ways to increase our online sales. I’d also love to do more partnerships online that lead somewhere. I’m hesitant to pick up any staff writing positions because I love to write and take way too much time crafting posts, which means the $25-$50 going rate for posts from smaller publications is hardly worth it for me. I enjoy the writing and the research, will draw others into conversation as I come up with some theory, come back to a post after I have had time to read on the topic, but if I think that I spent several hours to make $25, then the experience is immediately soured for me. I’m interested in online income, and definitely want to write guest posts, but trying to get to that $2,000 solely on staff writing posts would probably require more waking hours than I actually have. So by next month, I want to have diversified this income as well as increased it.