Monday, September 3, 2012
Extra Cash Challenge - August Report
Each month I make an update on how much money I have earned outside of my regular job. Multiple streams of income are important and can help you create a better financial future. Here are August's results:
Part time job: $0
Lending Club: $0.60
Savings accounts: $14.31
Difference from last month: -$37.87
I was hoping that Lending Club would have monthly reports, but it doesn't appear they do, so I'll just have to check it at the beginning of each month and subtract the previous month's accrued interest. I decided since I am counting the Lending Club money as part of the my extra cash challenge, I should also count my savings accounts as well. Last month I made $14.31 in interest which is more than I make in an hour at my job. Even though it's not an amazing amount of money, it's kind of nice to make some money without even doing much other than transferring the money into the account. However, I now have $21,519 in savings (including money set aside for expenses such as property taxes). So that $14.31 doesn't seem like it's as much now. But it's better than leaving it in our checking account where it earns 0% and it's more tempting to spend!
My part time job has really died down. I wonder if I should send them an email to let them know I'm still alive! The advertising money decreased again too. With about 4 days left in the month I was doubting it would even break the $100 threshold, but I had a late month rally that got it up to $111.86 for the month of August. Amazon didn't make a lot this month either, but I did get some pre-orders for a book that comes out in October, but since it didn't ship yet, it won't show up until October.