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Thursday
Aug012013

The LTNE Report -- July 2013 (Home Again, Home Again, Jiggity Jig!)

Jen and I are back and refreshed from an awesome vacation to Hilton Head Island.  What a beautiful place!  And, for the first time in a long time with a real vacation, we've done it without putting ourselves in debt!  (I'll speak more about our vacation in a separate post).  

So, how was July on the financial front?  Really good, actually! 

Passive income again increased this month, to a total of $641.99, which exceeded our 2013 goal of $500 on average per month.  

 

 

Since the beginning of LTNE, we've made $4,361.80 in passive income.

Passive income this month was derived nearly equally between affiliate income and P2P lending interest income, alongside some credit card rewards income.  

Affiliate income this month came from a variety of sources, including:

Discover It Rewards Card Signups:  $100.00

BlueHost:  $65.00

Amazon Affiliate:  $60.82

Dollar Shave Club:  $20.00

aWeber:  $5.70

Thanks to everyone who made purchases through our site this month!  Doing so supports our site and we appreciate it!

Our P2P lending interest continues to go up.  Here is a snapshot of our performance with both Lending Club and Prosper, which are the two places where we lend:

Monthly interest payments to us continue to go up with these loans, which we then reinvest into new loans (along with principal payments), creating a social lending snowball.  

 

Cash rewards have gone up and will likely increase even more, as we put all of our vacation spending on cash rewards cards (and paid them off, with no interest!).  We earned $103.75 in rewards income this month just for using our Discover It and USAA cards.  

How "passive" is our passive income?  I put in a total of five hours last month into online pursuits and earned $641.99, for an hourly rate of $128.40!

Our $10,000 investment in Vanguard 500 Admiral Shares has increased to $10,508.65 (paper value) as the S&P 500 has done well this month!

In fact, we were very close to reaching our 2013 goal of $25,000 net worth this month, a full five months early!  Much of this was fueled by the increasing value of our rental home-- perhaps home prices are on the rebound, which would be a very welcome event, as being underwater in our mortgage remains the primary drag on our net worth!

Visitors to LTNE are slightly down, but we value each and every one!

In other news, we're in the midst of refinancing our rental home from a 5% fixed rate, 30-year mortgage (with 26 years remaining), to a 3.5% fixed rate, 15-year mortgage.  Once that is done, we will pay the new higher mortgage alongside an additional monthly principal payment to get that rental property paid off and turn it into a source of income!  Right now, the rent we charge doesn't fully cover our mortgage.

Here is our overall life strategy right now:

1) Increase our active incomes where we can.  

2) Find passive income everywhere that we can, including affiliate income, advertising income, interest from peer-to-peer lending, and the use of cash rewards credit cards (paid in full each month).  

3) Grow our assets by reinvesting peer-to-peer loan interest into new loans, as well as investing $1,000 monthly into index funds through Vanguard.

4) Continue to pay the mortgage off on our rental home aggressively, with normal mortgage payments, as well as $1,000 monthly principal payments.

5) Get our emergency fund back up to $10,000, since I depleted it for the Vanguard Admiral Shares. 

 6) Continue to maintain a zero balance on all credit cards.  Continue to spend less on all things and live frugally!

7) Research and write each weekday for my PhD dissertation.

8) Train like hell for our upcoming triathlon!

9) Live life fully!

Thanks for visiting Live the New Economy!  We hope you glean something from each one of these monthly reports!

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