My August 2018 Monthly Passive Income Report
This one should be called “Red City”. Ever since I started doing my monthly passive income reports, I don’t think I have ever had this much red in one report.
In total, I generated $1,710.91 which was equivalent to a -64.07% decline in growth from July 2018’s revenue and a -80.17% decrease in net income- ouch!
As you can see, I didn’t have any income to report from digital services which resulted in a huge blow on my revenue. That’s ok though because although I did put some work in, I haven’t been paid yet which is why I did not want to include that until the money is in my bank account.
I had also planned on having my rental income go up by now but the planned remodel has been delayed because I’m having a hard time finding a General Contractor. I’m hoping to get that squared away this month and hopefully have rents go up by October.
Here’s how August really went down…
|Membership Apps||$25.29 (111.28%)|
|Premium Digital Content & Merchandise||$825.78 (-52.94%)|
|Real Estate Income||$825.00 (0.00%)|
|Niche Sites Ad Revenue||$7.84 (-36.93%)|
|Random & Digital Services||$0.00 (-100.00%)|
August’s Estimated Gross Income
|Cost of Goods Sold||$0.00 (0.00%)|
|Email Services||$29.95 (0.00%)|
|Store Subscriptions||$237.95 (+495.02%)|
|Shipping & Handling + Shipping Supplies||$0.00 (0.00%)|
August’s Estimated Expenses
Net Income (estimated): $577.01 (-80.17%)
$577.01 net is a joke! As if that was not enough, I got hit with a $197 charge on one of my Amazon accounts for Long-Term storage fees which I’m hoping to dispute because I was going to pull the dead-weight merchandise from Amazon but haven’t been able to successfully log into my account for a few months now and Amazon support has been giving me the run around. I talked to them (for the millionth) yesterday and hoping to have this resolved by the end of the day today.
“I’m relying too much on digital service”.
I have been relying too much on digital services which in itself is not much of a passive income stream. Ideally, I want to phase this stream out and instead grow my other streams or at least evenly distribute my revenue streams that way when one is down, it doesn’t cause so much red in my reports!
Thank you for reading, until next month, stream on!