January 2012 – The Bottom Line

Income Report

Total Income
Amount Percentage
Active Income $1,553.61 100%
Passive Income $0.00 0%
Portfolio Income $0.00 0%
Total Income $1,553.61 100%
Active Income
Direct Sales Pay $329.00 21%
Retail Consultant $1,224.61 79%
Other Earned Income $0.00 0%
Total Active Income $1,553.61 100%
Passive Income
Nil $0.00 0%
Total Passive Income $0.00 0%
Portfolio Income
Checking Interest $0.00 0%
Savings Interest $0.00 0%
Total Portfolio Income $0.00 0%

 

Net Worth

Net Worth
Assets $768.71
Less: Liabilities $0.01
Net Worth $768.70
Assets
Amount Percentage
Checking and Saving $768.71 100.00%
Total Assets $768.71 100.00%
Liabilities
Credit Card $0.01 100.00%
Total Liabilities $0.01 100.00%

What We’ve Learned

Essentially, we know that we have plenty of room for improvement. Actually, I (Ian) have lots of room for improvement. Veronica is doing really well with her new job and she expects to do even better next month. They are giving her more hours at Alannah Hill.

After putting this little wealth report together, I see that our biggest weakness in income. At the end of the day, we are really lucky because we have no debt. If you want to learn about getting out of debt in a lifestyle design way, visit Baker (at Man vs. Debt.)

Whats Next

First off, I’m working really hard to find a job so we can live less frugally. Veronica is doing her part so it is up to me to get some extra cash that will allow us to save for travels.

Getting the fundamentals of survival (roof, food and water) in Auckland are the first and foremost. This will require lots of energy, but it’s not location independent focused. To become truly location independent. I’ll have to work double time on finding a job and then on getting gigs that don’t require my physical presence. Here are the projects I’ll play with in February:

1. Business Project: I’m working with Andy Drish on his real estate referral business. Andy isn’t able to make this a part of my location independent income, but he is helping me with some coaching and there will be a commission system developed in the coming months. He is a fellow entrepreneur searching for location independence so it’s good to have him as company.

2. Niche sites: I hope to build another niche site in February. My first one wasn’t profitable so I will be attempting it again this month. This time I’ll be making my effort available publicly via this site. I’ll be following the advice of Pat Flynn. Hopefully he will support me by putting my niche site progress up in his Niche Site Duel.

3. Penny Stock investing: I’ve been loosing small amounts of money with the stock market for the last 5 years. Mostly, it’s just because I pick stocks, hold them for the long run until I’m tired of watching them disappear.

This month I’m making watch lists in excel to track a specific strategy. I won’t be putting money into stocks until I find a strategy that works. This month, I’ll be testing my ability to buy stocks with stop orders.

4. Website Development Business: I’ll be working with my friends to get their websites up and smashing. My goal is to get my friends doing well with their websites. That will build an epic portfolio for me when I start attracting bigger clients. As of now, here is a list of them:

5. Graphic Design: I’ll continue to develop my graphic design portfolio and complete my advertisement for freelance work on tropical workforce. With luck, I’ll find someone who can pay for my skills!

6. Internship: A very interesting start-up travel company is looking for a location independent intern. I’ll apply for this in February!

Goals for February

  1. Double our active income this month ($3,100 NZD.)
  2. Generate at least $1 dollar of location independent income in February, 2012.
  3. Make progress on each project.

THANKS FOR LISTENING! If you got this far, please leave a comment, even if it’s just a smiley face.

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