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Thursday, 30 June 2011

Income Report June 2011

I am really excited about writing this post and will be my first official income report for my residual income efforts. Just before I start to reveal the numbers I just wanted to explain the purpose of this blog as the name may be confusing for some of my esteemed readers. Covering the mortgage was created to document all my progress and efforts to generate passive income so I can meet my monthly mortgage payments. I currently pay £430 per month which is equivalent to $716, paying this amount every month is such as burden and my plans are to pay the monthly mortgage amount using passive income. If I am successful and start making a decent stream of residual income then my next target would be to pay the entire mortgage off but that is a long way away.



For the Month of July I made £102.55 which is roughly equivalent to $170. I have outlined the breakdown below.

Webanswers £35.77
Xomba £30.07
Infobarrel £22.96
Cold Sore Remedies Niche Site £2.91

Webanswers


I started using webanswers from the 14th of May 2011 and have answered 361 questions on topics such as health and investment. On average I answered 8 questions per day and earned £35.37 for the month of June. I really like webanswers and believe it has potential to make me at least £100 per month which is my ultimate target. I have learnt that the more active you are the more money you can make. Most of the income comes from unanswered questions and page impressions are distributed by the amount of people who answer. The better the quality of your answer the more impressions you will get and more likely you are to earn. 

What I have learnt from Webanswers
- Only answer questions you are able to answer and always add value.
- Make the answer as helpful as possible
- Answer questions which have high views which means there is some SEO juice coming through

Targets For Webanswers
- Answer at least 20 questions per day on high paying subjects you are able to answer and add value to.
- Try and add as many pictures to my answers as this may impact on earnings.
- Consider outsourcing some of the questions so I can increase the amount answers under my belt.

Xomba



Xomba has been another great source of revenue for me. I have about 50 articles and 1000 bookmarks and have generated £30.07 which is roughly equivalent to $50. Unfortunately Xomba has blocked my account without giving me any reason whatsoever. I have emailed the CEO of Xomba Nick Verenis for an answer and it has been 2 weeks and I have not been given a response. I will continue to keep chasing them for an explanation as I invested 2 months of my time there and it is not fair for them to take the earnings away from me. Xomba is a great site however I fear they are becoming more and more like Ehow and treat their community unfairly. I shall keep you updated on what is happening here.

Infobarrel





I have 196 articles on Infobarrel with very little backlinking or promotion. I have earned £22.96 which is roughly equivalent to $38 which is great. I now want to use my existing articles and make them earn as much money as possible. My ultimate goal here is to generate £100 per month which would be a fantastic achievement. My plan now is to get my 10 highest earning articles and then add pictures to them. For every picture added on your Infobarrel article you also create a media page which has adsense ads sprinkled on. So If I get my 10 highest earning articles and add 3 pictures on each one I will have a 40 pieces of content all with adsense ads on them which should increase my earnings. Many writers on Infobarrel such as Chezfat and Godfather have reported success using this method and I want to see if I can emulate them. I also want to create 10 backlinks for each of my best earning articles to see if this impacts on my earnings. even if I can reach £40 per month using these strategies for July I will be more than happy.

Targets For Infobarrel
- Add media to my highest earning articles.
- Add 10 backlinks to my highest earning articles.

Cold Sore Remedies Niche Site



My niche site has started to progress too which is all about Cold Sore. The keyword that I have been targeting is cold sore remedies. Although it is early days and this is completely new to me I have made approximately £2.91 and have 19 pieces of indexed content and I am currently at position 76 on Google search engine results which I am happy with. Earnings will rise with quality content and backlinking which I am planning to do in July. 

Targets For Cold Sore Remedies HQ Niche Site
- Add another 30 pages of quality content.
- Implement first layer of backlinking 
- Promote the content on forums 

It has been a really busy month for me and if I can generate another £100 for July I will be more than happy. I have achieved 20% of my ultimate goal of paying my monthly mortgage payments using passive income and with continued effort and determination I hope to be achieving 100% of mortgage payment. As always I like to leave my posts with sore sort of quote that really catches how I feel so here goes.

Little minds are tamed and subdued by misfortune, but great minds rise above them. - Washington Irving


4 comments:

  1. You are going well, I wish I had earnt that much in my first couple of months of writing.

    my new blog:

    http://tipsandideasforcraftsandhobbiests.blogspot.com/

    ReplyDelete
  2. I really worked hard to share the information. Really impressive post.

    Stacey
    cold sore remedies

    ReplyDelete
  3. Interesting post .. but is it really passive income when your highest earner is webanswers and, by your own admission - you have to be really active there to earn? If you don't continue to contribute there, earnings fall off dramatically. How many hours do you spend to achieve your earnings there...and how much could you make an hour doing other work?

    ReplyDelete
  4. I think it is very useful blog.Thanks for taking the time to share your view with us.


    Elizabeth
    cold sores remedies

    ReplyDelete