Every month I try my best to compile all the income and expenses that I occur in my pursuit of building and living the passive income lifestyle and please understand that I didn’t get to where I am overnight or through miracles – it is an ongoing progress, and has been a long road filled with lots of hustle and my fair share of mistakes.
And yet, through persistence and passion and continuous focus for progress, I’m slowly and surely building something amazing for myself, my family, for you to learn here in NigelChua.com
PASSIVE INCOME INTERNET BUSINESSES (PIIB): USD -3.38
Xtend Life Natural Health Supplements USD$ USD$ 21.52
A few things this month: I went through a bit of “spring cleaning” to lighten my load and focus a bit more – I had 30+ websites across 3 service providers, and so I wanted to cut down, and Wealthy Affiliate was in a sense my weakest link (the other 2 being Solo Build It and self-hosted WordPress with BlueHost), so I decided to let Wealthy Affiliate go.
Then I found out that Wealthy Affiliate DOESN'T refund any prepaid amounts, so at the point of me letting Wealthy Affiliate go, I have 597 days of membership to go. Wow. When I spoke to one of the founders about this, he said that it's mentioned in the agreement plus they had already paid their affiliates, so that's why they cannot refund. I disagree. And that's one of the core reasons why I am no longer actively promoting Wealthy Affiliate as well.
So I'm slowly tapering out and transferring sites from my WA account to my BlueHost account (a bit technical but doable), and focusing on much lesser sites today. This not only decreases my costs from WA (USD 299 per year) but it also frees up my mindspace/bandwidth to focus, as you can see more frequent posts and some changes to the websites that I run, including NigelChua.com.
PASSIVE INCOME INVESTING (PII): SGD 2487.75
Ugh, my online business income is lower than my expenses, so it’s gone into the negative territory (- USD 3.38) so that means I’ve made another loss online in March 2017 (February 2017 was SGD -17.78)
On the other hand, my dividend income is higher this month compared to last month (SGD 2487.75 in March 2017 compared to SGD 556.80 in Feb 2017), so that’s a nice even out.
That being said, I cannot be complacent about my online business just because I have my dividend stocks and my offline business. Frankly speaking, I’m writing this much delayed article on 18th March 2017, much much later than I planned to (I usually write my monthly income reports upon receiving SGX monthly summary) but I can foretell that this will happen more often especially in 2017. Perhaps I will slowly ?decrease my passive income reporting? But that will defeat the purpose of this passive income lifestyle website won't it?
I'll find another way around it – maybe when this business is large enough, I can hire accountants to give me monthly statements where I can just copy and paste over =D
My next goals are to