When I originally started looking for ways to make money online, Blogging is a topic that often came up as a source of making money. One pitch line that stayed in my head was "Blogging to the Bank". With what will soon be my sixth month under my belt in blogging, I can not say I have blogged to the bank. But, I have been able to write about one of my passions which is learning how to build wealth and share those lessons with others.
The 1st stock I purchased this year was Micrsoft (Ticker Symbol: MSFT). I purchased 1 share which paid 16 cent per quarter or approximately 5 cent per month. Shortly after that the dividend was raised to 20 cent per quarter which increased the average income to 6 cent per month. I know that is not a lot of money but it is where I started. I would eventually like to own 100 shares of Microsoft and rent them out for a monthly income, through what is known as a covered call. According to my research, a monthly return of 3% to 6% a month can be earned. I have been practicing in a virtual account this year. I'll post results at the end of the year.
I will continue to buy dividend stocks and save money to build up a stock portfolio so I can use the covered call process. I am currently thinking about buying 100 share of Sprint (Ticker Symbol:S) because it is under 3 dollars a share. It could be a great stock to test my covered call theory out on.
Just Been Paid (JBP) has become my primary source of online income. It is currently paying me 2 dollars everyday or 60 dollars a month. This covers my internet connection expense. I believe that I can increase my income with JBP if I re-invest, the profits. By January of 2012, my goal will be to have a monthly income of at least 82 dollars. This would complete 14 of 20 targets I have set for myself.
Here are my current positions and what they have paid. I have also added my account movements or transactions.