Passive Income Report for June 2022
I continue to make progress with my Passive Income. Some weeks it feels like I’m moving at a snail’s pace; however, I can see in my spreadsheet I’ve trended up over the last year. This is in fact the most ‘passive’ income I’ve made in one month.
Some months are better than others. I think the new Udemy courses will eventually pay off. In addition, I recently did A LOT of SEO work on my music website, which is helping conversions and sales over there.
Lastly, I made some new contributions to my Roth IRA this month, so dividends should keep going up in that account.
Monthly Passive Income Breakdown
Digital Products-I sold a fairly decent amount of music tablatures this month. Last June I only made $22 from tab sales, but this month I had $34 worth. Once again, TABS are usually $1-$3, so it takes a good bit to make any money off of these. At the same time, they are very passive once they are uploaded. It’s all automated and not capital intensive.
Adsense paid me $4.86. I got rid of auto generated ads on my sites, so I expect revenue will drop some. My ad revenue from adsense has consistently dropped for over a year. It’s a trade-off between ad income or user experience. At the moment, I want my users experiencing LESS ads, so they return to my website. If Adsense paid me more, I’d be more apt to put up more ads.
Amazon Affiliate- $1.10. As usual, Amazon is one of my weakest sources of passive income. I only sell a few books a month via Amazon and the commissions are extremely low.
Patreon $282. Patreon continues to be one of my strongest performers. It isn’t 100% passive; however, it doesn’t require that much effort. I update my content a few times a month and go on my way. Not to mention, a lot of my content there is funneled from YouTube and so forth.
Youtube paid me $33.23. My views are down on YouTube because I’m just not concentrating much on YouTube like I once was in the past. My videos are doing SOOOO much better on social media platforms like Instagram and TikTok. I envision at some point, I will probably nearly quit doing YouTube. I have 12 years of videos up already and I’m not sure I want to keep doing it long-term.
Taxable Dividends-$128.03. Not a bad month for me in my taxable account. Over $100 worth of dividends.
Retirement Dividends-$140.59. My Vanguard account paid this month so a pretty good bit of dividends. Between my Taxable and Retirement accounts, I made over $260 worth of dividends in June
Credit Card Rewards-$20. I’m guesstimating here because I don’t have numbers on individual month breakdowns. This amount is for probably the last six weeks.
Crypto earns-$5. Once again, I’m guesstimating. I don’t know the exact numbers, but it isn’t much. I’ve sold almost all of my crypto except for Elrond.
Udemy $14.15. This is only my third month on Udemy; it is slow moving but at least it is moving. From this month, much of my revenue was taken up from app fees or international buyer fees, unlike the previous month. So, it is a little lower.
Skillshare $30.98 Not a bad month from Skillshare. The most I’ve ever made from Skillshare is $50 in a month.
Total Passive income
Last June my passive income was $521.32. Therefore, I’ve added over $150 to my monthly passive income in a year.