Today I’m presenting my passive income report for the month of July. As usual, my passive income sources include Digital Products, Online Courses, Adsense, Youtube Monetization, Dividends, and more. I saw some improvement in Digital Products. On the other hand, things like Youtube, online courses, and Dividends were less this month than last month.
As far as digital products go, I created five new products and uploaded them to my site. Hopefully that will help to the ever increasing income from digital products.
I realize that parts of this are not 100% passive income (Patreon for example). However, the majority of it is or requires a minuscule amount of work.
Passive Income Breakdown for July 2022
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Digital Products-My sheet music and TABS weren’t too bad this month. $39.92 compared to $33.00 last month.
Adsense paid me $3.45. Once again, I’m contemplating cutting ads off on my main website. I’m barely making anything from them and I wonder if it hurts the user experience.
Amazon Affiliate- $0.98. Amazon is always my weakest performer. I think I helped sell two items. However, I am adding more blog posts tailored towards affiliate links (something I haven’t really done).
Patreon $287.36. Patreon continues to be one of my strongest performers. I did lose two members this month, so I expect a weaker Patreon payout for August unless I get some new members.
Youtube paid me $28.97. This was one of my worst months for Youtube this year. I haven’t put up any long-form content in awhile and I probably should. Shorts are driving views and new subscribers but watch time and ad revenues continue to be poor due to this.
Taxable Dividends-$45.35. This month cycle is my weakest, so dividends in my Taxable accounts are low.
Retirement Dividends-$25.31. There were no dividends in my ROTH account this month, only my IRA. So, overall a low dividend payment month for both accounts.
Bank Interest-$36.02. Last month I foolishly missed qualifying for my bank interest so this is a big improvement from last month. Essentially, in order to gain the high interest rate on my checking account, I have to use my credit card X amount of times and last month I missed it by ONE!
Crypto earns-$3. This is a guesstimate because I’m too lazy to calculate it. I know it’s around $2-$5 from Elrond staking.
Ibonds-$17.80. I’m still waiting on the Treasury Department to get back with me on my checking account change so I can add more funds to my account. For now, I have to settle for this. I plan to add another 2K to my Ibonds before the end of the year (if I ever heard back from them!)
Udemy $12.27. This was disappointing. I kept wonder why my course didn’t do better. Then I noticed my competitors cut the price of their courses in half! My courses are only four months old and as a result I only have two reviews, while my competitors have many more reviews. I don’t think my course being more expensive and newer worked in my favor.
Skillshare-To be determined on the 16th.
Total Passive Income
While I’ve had worse months, I am a bit disappointed in my results for July. A lot of my passive income sources were weaker this month than the previous month. As a reminder, I made $688 in passive income last month. I was most disappointed in my Udemy course. However, one thing that could be coming into play is these are the summer months. People are on vacation and are less apt to sign up for an online course.
Dividends were weak but I knew that in advance. I just don’t have many companies that pay out in July. August should be much better in this regard.
I do remember when making $500 a month in passive income seemed far off, so I am on the right track. I do think Digital Product sales will continue to trend upwards. Online courses are proving to be more of a challenge.
In other news, I did get approved to be an Etsy and Awin affiliate on my main webpage. Today I created a new article using some products from Etsy, perhaps that will contribute to next month’s passive income. We shall see
Wishing you the best on your INVESTMENT JOURNEY!