It's monthly report time! No doubt, this is my favorite time of the month, because it gives me a chance to evaluate our progress across all of the domains that we're actively engaged in improving in our own lives and report back to you, our readers, on how well we're doing!
Over the last couple of months, we've aimed to more precisely articulate our intent behind Live the New Economy, which we think we've done with the following phrase: "We aim to inspire flourishing and purposeful lives through physical and spiritual wellness, intentionality, frugality, and creative financial action."
Before we report on our own progress, I'd like to thank the following sites for referring the most traffic to us in March:
4. Club Thrifty
Clicking on any of those links will open up their sites in a new window; I encourage you to check them out!
Now, as Gandhi famously reminded us, "action expresses priorities," so let's take a look at how well we've done this last month.
Passive income increased slightly from last month from $679.60 to $715.38. Our goal for 2013 was $500 monthly in passive income, so this is the second month that we've achieved this.
Passive income now accounts for 7 percent of our overall earnings, which is respectable, but we will continue to push for it to be a higher and higher percentage of our overall income, because substantial passive income alongside frugal living habits increases the likelihood of us having greater autonomy in the future!
The vast majority (71%) of our passive income is derived from affiliate sales, followed by site advertising (17%), and then P2P lending interest (12%). Live the New Economy accounted for most of that, but our solitary niche site made a respectable $79.69 in affiliate income last month itself, which isn't bad considering the twenty or so minutes of work that I applied to it.
Here's our complete list of passive income sources for March:
1. Amazon Associates: $231.14
2. Dollar Shave Club: $208.00
3. Lending Club Sign-Ups: $60.00
4. aWeber Members: $5.70
5. Media.net: $.64 (this will likely be the last month for this for awhile, because I've removed all CPC advertising from all of my sites due to under performance).
6. Paid Advertising: $120
7. Lending Club Interest: $88.56
I normally can count on at least a couple of Squarespace sign ups, but struck out this month. I also have a transfer pending for my first $1000 investment in Prosper, another P2P lending service similar to Lending Club, so expect some feedback on that service soon.
On the P2P lending front, our Lending Club assets have crossed the $10,000 threshold and we are generating a decent monthly interest income from our loans there:
Our active income continues to hover around the $9500 mark, with both Jen and I still working full-time!
Our only debt remains our rental home mortgage, which we continue to chip away at, through our normal mortgage payment, as well as $2000 in additional monthly principal payments beginning this upcoming month (versus $1000 in months past!). This debt will be with us for years to come, but we're whittling it down as aggressively as we can!
(If you want to see how quickly you can eradicate your debt with changes big and small to your financial decision-making, check out the free service Ready for Zero!)
I'd also like to highlight unique site visitors to LTNE, as visitors to the site continue to increase every month!
One very cool thing about a nearly-year-old site is that we are starting to pick up a healthy amount of natural search traffic for a variety of keywords. Market Samurai's rank tracker sends me an automated report every week that shows how well I'm doing with keywords that I've targeted, including updates on movement within Google, Yahoo, and Bing, and numbers of back links. We now have Google front page rankings for four of our targeted keywords and I'm more actively using Market Samurai to target specific keywords with my normal blog posts. Plus, we have some other very high-value keywords that are trending on Google as well.
Finally, we have nearly clawed ourselves to a positive net worth, even with our upside-down mortgage on our rental home!
Other milestones this month include my transition to aWeber to manage our email / newsletter list, as it had grown too large to manage on my own, alongside making available our first free e-guide, "15 Steps to Fix Your Broken Finances and Live a Better Life!" which is available with email sign-up on the right side of our site!
And, as Mint was gracious enough to let us know, we reached our $10,000 in emergency fund savings this last month as well!
Check back soon for details of our one-year anniversary giveaway, with what I think you'll agree is a very cool prize!
In the meantime, be sure to sign up for our non-spammy newsletter on the top right of the site and we'd sure appreciate a Facebook like, Twitter Tweet, or a mention at your own site or blog!
Thanks to everyone for continuing to support Live the New Economy as we approach our one-year anniversary! What a great ride it has been so far!