It’s 2 AM in the morning and I’m still typing away at my keyboard. I really just wanted to take this time to share with you what I am busy with lately, and let you in on an exciting project that I will be launching very very soon.
Three $100/ month income stream goal for 2011 explained
As you know, I’ve shared with you my personal goals for this year. One of those goals is to generate at least 3 streams of income generating $100 per month each. To some of you, it a small amount. Why not make a goal of earning a million instead?
Here’s why.
I’m not crazy. 🙂 I know how to be realistic given that I still have a full-time day job I go to work to almost everyday. But that’s not really the main reason why.
Right now, I’m actually more focused on learning how to set up systems to create little streams of income that will give cash flow in the future. If it turns into a profitable venture later on and I end up earning a million, well and good! If not, I know I will do better next time.
I understand it will probably take a lot of time, money and effort from me in the beginning while I’m still setting up the systems. But my hope is that once the systems are running smoothly, it will take less and less time from me to maintain it.
To be honest, I can actually earn the $100 a month quickly out of the decent income coming from my day job as an IT consultant. Unfortunately, it comes with a stiff price. It still requires my time and effort day in and day out. So if I want another $100 for next month, I’d have to show up again. If I don’t show up, I won’t have any income. And it does take a lot of my time and effort showing up with the same energy every time.
The Challenge
The challenge is to learn how to setup systems so that it will be able to automatically bring value to other people, people who are willing to pay for the value they receive. Which, in turn, will give additional stream of income from this blog.
My goal for this year is to focus on setting up those systems to be able to at least support this blog. And $100 seems like a good amount to start with. I know, embarking on this project will not make me rich right away. I might even lose some money for investing on setting up these systems.
But to me, I value the experience more than the income. I know I will learn something valuable from the experience. And those lessons will help me in the long run. That makes it so exciting. That’s why I want to get started right away. 🙂
Current streams of income for this blog
A few days ago, I learned that I actually reached $100 income from Google adsense. Yes, finally! After, 1 year and 4 months! 🙂 Some people may say, “What?! 1 year and 4 months?! Why so long?”
I know it’s a long time. And I’m ok with that.
It’s something that I decided early on when I created this blog. I don’t want to focus on ads alone. I want to focus more on bringing value to you. And if that means removing or at least minimizing distracting ads, I am all for it.
Another income stream that’s been helping support this blog is the affiliate income from referring my friends to Bo Sanchez’ Truly Rich Club. My wife and I have been a member for around 2 years already and so far, we’ve learned a lot and been blessed bountifully from joining the club.
Do you want to know my secret in deciding what to stocks to invest on? It’s Bo’s monthly Stocks Update Newsletter sent exclusively to members of the Truly Rich Club. The newsletter lists down recommended companies that are worth looking into along with their potential gain if they hit their target price.
Reading through the list of recommended companies helps me get started in focusing on specific companies that I want to research more on. Some of which I could later decide to invest in.
What to expect from Rich Money Habits in the coming weeks
In the coming weeks, there will be a lot of exciting things happening here at Rich Money Habits Blog.
The first and most important — I will be launching my very first product for the year 2011! Yehey! 🙂 While I don’t expect to become a millionaire from this one product alone, I hope that this is a start of something remarkable.
My hope is that this will help me in my goal of creating a monthly income of $100 a month. When you think about it, that’s just PhP 5,000! If I just have a little bit of initiative, I can go find a job that could pay me that amount doing ordinary stuffs.
Why Launch Your Own Product
One thing I learned while promoting other people’s products is that you have very little control over how the product is created and delivered. You rely heavily on the other party’s integrity in delivering value to your friends when you refer it to them because to be honest, you really don’t have any other choice.
That’s one of the major reasons why I’ve not been focusing much on Google adsense. I don’t have a clue on who is behind those automatically generate ads. I’d hate to think I might be promoting a sleazy or scammy product that cold potentially hurt you.
That’s why I am working hard on giving something more valuable by releasing my own product soon. At least, I’d have the control on making sure that I create and deliver something really valuable that can really help you in your journey to financial freedom.
Almost ready for launch
My very first product of the year is almost complete. My wife has been helping me out with it a lot lately. It’s like our mini-project outside of our daily jobs, where we create something remarkable together. Besides, I’ve had so much fun because it’s our little bonding moment at the end of each day. I guess you can say it’s a product out of love (Cheesy, I know, but what the heck Valentine’s day is almost here)! 🙂
I will be launching my very first guide “Rich Money Habits – 8 Ways To Shift Your Money Habits and Be Rich!”. If you’ve been visiting this blog for some time, you might notice that the title looks familiar. And it is!
The ebook is actually based on the highly popular Rich Money Habits 101 Series Newsletter, where more than 1,200 have already been blessed.
Here’s what they have to say about the Rich Money Habits 101 Series:
“Very informative, full of good ideas!”
– Fred from Cebu City
“Very personal, very simple from the heart lessons about finances!”
– Anna from Mandaluyong City
“Thought provoking!”
– Rod from General Santos City
“Concise, informative and a good read!”
– Deo from Urdaneta Pangasinan
“Eye-opening thoughts and financial advise on wise investing”
– Francisco Jr. from Butuan City
“It’s complete advise on how to reach your financial freedom. The insights are very helpful. From changing your mindset and habits to the “How-To’s” of different vehicles to financial freedom.”
– Gailord Fidel from Mandaluyong City
“It addressed issues that I hadn’t recognized in myself before and also it came just at a time when I was starting up a business. Now I am always looking out for what I may be doing wrong and making sure that this time around I am developing only rich money habits.”
– Lissa from Lusaka, Zambia
“I liked the part about saving 20% of your income. I had difficulty saving before I read your Rich Money Habits series. I was paying first all my debts and expenses when salary day comes and what was left which was almost nothing to savings .Now I’m learning how to save properly with discipline and determination.”
– Rowena from Alkhobar, Saudi Arabia
“Fantastic! I like the idea of protecting your money from its enemy including yourself…and to invest early in life like planting a tiny seed if you want to succeed financially. These great ideas, I think should be taught to every poor and struggling Filipino. Had I read your blogs early on I should have protected my money retirement money. But its not too late anyway. I got the idea, applied it, and also shared it to others.”
– Eduardo from Malaybalay City
“All of the ideas in Rich Money Habits series are very helpful!”
– Johnry from Cebu City
“Informative. Relevant and true to life experiences. Proven and tested.”
– Leo from Manama, Bahrain
I am going to be very upfront with you. 80% of the Rich Money Habits guide ebook is based on the same material found in the Rich Money Habits Newsletter. I know I am taking a big risk here for letting that out. But being honest with you is more important to me than having that extra sale.
I am a straight-forward kind of guy and I hate misleading people.
Why buy the ebook if you can get it free through the newsletter? Great question. And in all honesty, I think it’s something a lot of people will probably do. And I am ok with that. It means more to me to have you receive this information any way you want than making the extra buck.
However, I do realize that some of you still prefer to consume the material in a more readable format, where everything is together in one neat package available right away, and not have to wait for several weeks. The Rich Money Habits guide ebook gives you that choice to get all the information you want in an instant.
I understand that this will not be for everyone. My only hope is that the income from those who buy the Rich Money Habits ebook could at least support the newsletter so that more and more people can get the inspiring articles for free.
It takes money to maintain the system that send out each of the Rich Money Habits Newsletter issues every week to the more than 1,200+ subscribers (and still growing rapidly!).
Launching this ebook not only gives an option to those who want to get the information in a more readable format, it will also allow me to make the Rich Money Habits Newsletter available for free to a lot more people!
This way, I can focus on providing more value to you.
Win, win, win! 🙂
That’s all for now. This is already getting too long. It just shows how excited I am on this new project I am embarking on!
P.S. Come join me in this journey! If you want to get into the priority list to get HUGE discounts and bonuses once the Rich Money Habits guide is out, you can sign-up here!
P.P.S. If you are a personal finance blogger and would like to post a review or you just want to help me promote the ebook as an affiliate (yes, you too can earn from this!), just send me an email through the contact page, and I’ll work out the details with you from there.