Big oof.
This month has been an interesting one:
In the highlighted column, you can see my income numbers for the month of February (with January included for comparison); and there's quite a few negative columns. Let's dig in to what we're looking at.
In the 'Type' column, you can see each one notated with an 'ISP' acronym; that simply means 'Income Source Project.' The number is related to what project it's for--for more information, see my first blog post where I broke down each project. (Although I started at index 0, so 'Project 3' would be ISP2)
Okay. Let's break it down:
ISP0 -- Durham 3D Printing
If you look at the first three rows, you'll see all three are different sales channels for my Durham 3D Printing online 3D Print shop: Ebay, Shopify, and Bonanza.
It's been a terrible month for online 3D Print sales, only having made two sales, both on Ebay. Both sales were a set of 3d printed shells for revolver airsoft guns.
There has been one saving grace: If you look at the very last row--'Other/Offline', that's where I put my income for my unrelated custom 3D Print order (I should have a separate line item for that going forward). A repeat customer has ordered some more pieces for a diorama that he's working on; and for custom orders, I charge $7 for the first cubic centimeter, and $0.25 for every cubic centimeter thereafter (PLA and ABS; other materials are more expensive).
This has totaled approximately $280 for the month; which is pretty decent numbers for this particular project at this point in time.
ISP12 -- Flipping
While I saw a bit of a dip from the previous month--actually breaking a streak I had going of each successive month beating the previous month for gross income--$330 for reselling for the month of February isn't bad at all.
As stated in a previous post, I focus mainly on electronics and computer parts; but I don't limit myself to those categories. I also list on six different sales channels: Ebay, Bonanza, Facebook Marketplace, Kijiji, Craigslist, and Varage Sale; with all but Craigslist and Varage Sale bringing me sales.
I've been employing a tactic where, for every item I sell, I list two more; allowing my Flipping endeavor to grow at a rate directly associated with how well it's doing. (As it stands now, my work item list has me scheduled to put up eight new items still...)
ISP2 -- Print on Demand (RedBubble)
Not much to update here; I don't have very many items available; and zero sales from what I do have up. I barely get any organic views or views from my Twitter bot posting, so I've got Redbubble really low on my priority list.
ISP1 -- Affiliate Marketing (Amazon Associates)
As you can see, I made a whopping $4 this month!
As mentioned previously, I use Amazon Affiliate links in conjunction with my Youtube project; putting links to various gear I use or have reviewed in the description of my videos.
Amazon Associates is a notoriously difficult program to get accepted into nowadays. They are absolutely sticklers for their rules. I'm past their soft 'minimum subscriber' requirement (500), but my Amazon US application just got rejected on the grounds of my descriptions 'promoting use of your links to help out the channel.' So, I had to go and remove any indication that using my links would be helping me out (although you still need the standard Amazon Associates disclaimer). And, of course, now I have to go through my catalogue of 50+ videos and re-do all of my Amazon USA affiliate links with my new application Id...
ISP4 -- Cryptocurrency (Nicehash Mining)
This month saw a bit of a crypto boom; with the short-term bull market allowing me to make bank with my various mining rigs mining through Nicehash.
ISP4 -- Cryptocurrency (Various Algorithmic Trading)Oof. Just, oof. This particular endeavor has hit me hard this month. Between the late-month market correction and poor-performing trades on my bots, I've lost about $100 in crypto holdings.
While big changes in the market are unavoidable in the crypto space, I am always improving the performance on my bots. I made some changes to the settings this week and rebooted them, so hopefully I will start to see some improvements next month.
In the realm of Binance referrals, I gained a few this month; I'm currently sitting at 14 total referrals. However, as of yet, I have not made a single 0.00000001 BTC fee from any referrals.
Odds and Ends
In the various other projects, I've had some income. Shapeways saw two sales this month, which is surprising as it's not uncommon to not get any--so I started putting a bit more focus on Shapeways going forward. Airsoft parts seem to be the most common.
I saw a bit of dividend income this month from my various stock holdings, but not much to write home about ($7.59).
--
Okay, so now let's take a look at my investments; how much I have saved up in various holdings, and where it gets me toward my $2m goal by 40:
Ouch.
As you can see, having both the Crypto market and the Stock market crap it's pants simultaneously has led to a very painful -2.84% growth for the month of February, despite more money being invested this month in the form of crypto.
Unfortunately, this is just the name of the game; and if you look at the 'Target' row, you can see that I am still well above my target amount for this month, by several hundred percent.
At the time I estimated, I figured I'd need to average about a 6.5% portfolio growth per month (Yes I realize this is obscene to expect) to hit $2m by age 40. As you can see, so far, I've kept well above that, so far, in the beginning. (This will make it slightly less painful to keep up with that expectation further down the line).
Fortunately, I know better than to panic sell; and will continue to roll with the punches. Given that some sources say we are due for a recession, more pain may be just over the horizon. In the mean time, I guess I'll continue to Dollar Cost Average my way through any potential hellish landscapes that may be coming.
Thanks for reading guys, catch you in the next post
If you find these posts helpful, and you are interested in cryptocurrency, try signing up for Binance! It's a widely-known cyrptocurrency exchange (think stock exchange, but for crypto). It's free to do so, and by using my referral link we'll both earn 10% of any trading fees you pay.
https://www.binance.com/en/register?ref=WZKZ16ZW
See you next post!
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