Welcome to my very first income report for September 2018.
I always wanted to make public income reports, because reading other’s income reports and daydreaming is so addictive you know, but its time to make a one of my own. Finally.
Usually, other people’s first-time income reports start with a high income in thousands of dollars a month.
I wish my first income report would be that inspiring as well.
Unfortunately, I am almost embarrassed to say, that I earned only $67 in the first month; hence I didn’t achieve my goal of earning $100 per month of side income.
Okay without further ado, let’s look at September 2018 income in detail.
Sell Items Online
This category groups all my efforts of selling physical stuff online.
Remember that I said I would utilize all my resources to reach the goal?
Well, the first thing that came to my mind would be to get rid of all my stuff, that I didn’t use. So I decided to them on the Czech version of Craigslist.
Fewer possessions equal more freedom.
I don’t want to own any stuff besides basic clothing (flip-flop, tank top, swim shorts and sunglasses), basic electronics (phone, MacBook, etc.), and gym accessories (gymnastic rings, resistance bands, yoga mat).
I don’t need much more in my life.
All unnecessary stuff is from times, when I was blue pilled and when I spend my paycheck on things I didn’t need just to feel alive.
I remember the day I got my first bonus. That joy, that happiness. The first thing that came to my mind was to buy an expensive watch ($200). Mind you I was a poor college grad drinking consulting kool-aid. I was living in a rat race.
Anyway, when I am done selling all my stuff, I can put all my life into a few boxes and move to another country in a matter of a week.
So the reason, why anyone should start selling their stuff online as the first step towards earning a side income is…
- It’s easy. Barriers of entry are so low, even a monkey can do it.
- Sometimes I catch a good opportunity to buy low and sell high. E.g. Last year after Apple announced the new iPhone X, I managed to buy early and immediately sold for a nice $280 mark up.
- It’s not scalable. I can sell only a limited number of stuff and I don’t want to buy new stuff just for sake of selling it under the price.
- I still sell my time for pennies. It takes time to photo items, write a description, regularly repost ads, and finally to package it and send it by post.
- Sales are slow. Unless you sell useless stuff no one wants to buy for free, it takes time to catch a buyer.
- If I accounted for the original price I paid for, I would realize a substantial loss by selling it.
Why I didn’t reach my goal yet
Free time, limited to only nights after work and weekends.
I spent all my free time on launching my blog and to write the first blog post. Specifically, it took 3 weeks to set up WordPress and 1 week to write a blog post in English! My English is not fluent, but I hope I will be more efficient in the future.
What can be improved next month?
With the finished blog site, I can focus more on business development, content development and to spend more time coding my first project.
I have to be more creative to earn $100 a month. In October, I will focus all my attention on available financial products as I am looking to increase my passive income from zero to more than zero.
I will try to make 1 blog post a week to practice my English.
I will also engage more in social networks especially Twitter, which is surprisingly fun to use. 1 Tweet a day. Follow someone inspiring a day. How could I live without Twitter?
I can finally start coding the first project. Hurray. Even though I am not a developer, I have decided to go the hard way and learn to code in React and Django. Don’t ask me why, I just feel, that this stack will help me ship ideas I want to realize.
That would be all for this month. See ya in the next income report!