$50 Per Day Goes a Long Way
Generating residual income can be very helpful for your finances. I have a couple of websites that make about $50 per day primarily from Blogging. I may spend an hour or so updating it daily, about 5 days per week. My goal when I first started out was to generate at least $33.33 per day, so I could make about $1,000 per month. I figured if it could cover the mortgage that would be great. Now at $50 per day, I generate about $1,500 per month. Not bad! But of course I wish it were more.
However, recently I ran some numbers to determine how many bills are taken care of by making an additional $50 per day (without taking taxes into account).
I was surprised that $50 per day takes care of quite a few bills, which include my mortgage, phone/internet, cell phone, house electric, satellite TV, garbage service, house security, and water.
See breakdown chart below:
|
Expenses |
Yearly |
Monthly |
Daily |
|
Mortgage |
$11,400.00 |
$950.00 |
$31.23 |
|
Phone/Internet |
$1,200.00 |
$100.00 |
$3.29 |
|
Cell |
$720.00 |
$60.00 |
$1.97 |
|
Electric |
$2,400.00 |
$200.00 |
$6.57 |
|
Satellite |
$840.00 |
$70.00 |
$2.30 |
|
Garbage |
$180.00 |
$15.00 |
$0.49 |
|
Security |
$168.00 |
$14.00 |
$0.46 |
|
Water |
$480.00 |
$40.00 |
$1.31 |
|
Total |
$17,388.00 |
$1,449.00 |
$47.63 |
|
Internet Income |
$18,252.00 |
$1,521.00 |
$50.00 |
|
Internet Income – Expenses |
$864.00 |
$72.00 |
$2.37 |
Now if these sites could get to $100 per day, it would cover more of my expenses!
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