As a new way of following my progress, I will start to write a monthly Passive Income Report each month. This will not include my dividend income. Rather, I want to show you other ways of increasing your income-stream without doing any more work. You just have to work smarter. Let’s go ahead and take a look: 

Fixed Income – Bonds

Mixing between stocks and bonds is important. The Norwegian oil fund uses a strategy with 40% stocks and 60 % bonds. Benjamin Graham recommended 75% stocks and 25% bonds in a very bearish market and the opposite on a very bullish market. I hold different bond indexes (long-time interest rates, short-time interest rates, floating interest rates indexes)

  • $47. 54 or 370 NOK

Credit Card Income

If you use credit cards in a smart and planned way, they can boost your income a lot. I use Bank Norwegian where I get 1% cash back on every purchase. I also get up to 20% cash back on some stores like gymgrossisten or other stores where I order stuff.

If you use credit cards in a smart and planned way, they can boost your income a lot. I use Bank Norwegian where I get 1 % cash back on every purchase. I also get up to 20% cash back on some stores like gymgrossisten or other stores where I order stuff.

The Best Way to use a credit card is that you always keep your account balanced by depositing money (from a savings account) at the end of a month. This way, you never get to the point where you have to pay interest. I also recommend having a low credit so that you always can keep the account balanced.

So, Bank Norwegian credit card has given me the following passive income in August.

  • $12.47 or 97 NOK

Notice: If you also want to start using Bank Norwegian, use the following link:

Bank Norwegian Credit Card

 

Blog Income

As a way of funding my work and the payments for domain and web hosting, I have some ads on my site. As expected, it’s the affiliate sells that makes up the large part about this income. The income from ad clicking (Adsense) is still low. In the future, this might get bigger?

  • AdSense: $3.43 or 26.62 NOK
  • Adtraction: $15.63 or 125 SEK

Tax Exemption

Every year I deposit 25,000 NOK to my “home-saving account at DNB”. That’s locked money and can only be used to buy an apartment. However, not only does this account give me a great savings rate (2%), I get 5,000 NOK or $640 in tax exemption. So, for August this means

  • 5000/12 = $53.58 or 415 NOK

Total Passive Income for August 2017

In total the Passive Income for August 2017 landed on $132,60  or 103,420 NOK.

 

I think that’s pretty amazing, and I hope that you liked this new monthly report. How is your passive income? Do you make any smart moves in order to get closer to it?


28 Comments

Knap82 · September 4, 2017 at 6:47 am

Interesting – a Quick question – the cash back from Norwegian Can pbly be spent on trickets, right?

    Stockles · September 4, 2017 at 6:48 am

    Hi DividendNose,

    Yes, that is true (I will write a notice now on the post). However, I travel quite often so the money will be spent anyways which means I can consider it as cash. Thanks for commenting!

Erik · September 4, 2017 at 7:32 am

Do you have a trumf bonus card? this can be used in all Norgesgruppen stores(kiwi,meny,spar, joker) so everytime you shop in these stores, use the trumfcard after your creditcard, and you will earn trumf points, these points you can exchange into money, and transfere back to your bank account. In the store joker you are getting 5 % trumfbonus every monday, or in kiwi you will get 15% trumfbonus on all fresh fruit and vegetables all week. You also have the webpage viatrumf.no, where you will earn various trumfbonus in different webstores. The trumfbonus points can also be exchanged into eurobonus points wich you can use within star alliance airlines. If you also use a shellmastercard you earn trumf bonus on every buy.

    Stockles · September 4, 2017 at 7:40 am

    Hi Erik,

    What a lovely comment. This is why I have my blog! Not only to tell others what I do, but also to learn what I´m not doing. That Trumf card sounds amazing. I bet most people would find it very usefull.

    However, I normally only shop at REMA1000 due to location, so for me, the app “Æ” is what I use. Something wrong happened with my app so I can´t display “money saved”, but we are talking about $150 this year. Pretty amazing.

    Thanks for stopping by Erik!

    ESPA · September 4, 2017 at 8:03 am

    Thanks for pushing me to finally register myself as a Trumf (and KIWI+) member. Easy way to get cash back. Also worth mentioning REMA1000s Æ app that works in a same way. You register your debit card and get cashback on your most common items.

      Stockles · September 4, 2017 at 8:12 am

      Hi ESPA,

      Awesome! We use so much money on food each month, so finding ways to earn some cash back on those amounts is great. Agree, should mention that app. My app doesn´t work so good, so I could not find my earnings, so I didn´t include it.

      Thanks for commenting ESPA!

Dividend Portfolio · September 4, 2017 at 8:51 am

I like the report stockles and it’s good to know that dividend investing is not the only way you can get passive income. The report will inspire others to maybe consider other ways to build and diversify their passive income stream. Looking forward to more of these reports.
Dividend Portfolio recently posted…August 2017 Dividend Income ReportMy Profile

    Stockles · September 4, 2017 at 9:14 am

    Hi Dividend Portfolio,

    Glad you liked my new way of showing income stream. Every bit counts and the more you increase your income, the faster you will reach FI. Thanks for commenting buddy!

Amber tree · September 4, 2017 at 6:38 pm

Nice report.

Interesting to see that you consider tax returns as passive income.
What is your definition of passive income?

    Stockles · September 4, 2017 at 7:53 pm

    Hi ATL,

    Yeah, I admit it´s in the grey zone. My thinking is that if I hadn´t deposited those money into that account, that tax exemption would not exist. Also, I haven´t worked to get that exemption, so I consider it as passive. I suppose my not so well thought definition is that passive income is income that one gets without doing any effort. It´s just a by-product of another activity. So, this tax-exemption would be passive income because I primarily deposit the money for high interest rate.

DivHut · September 5, 2017 at 12:25 am

Income is income, whether from dividends, work or some other passive form. It all adds up and what you brought in for the month is more than many make via dividends alone. As the dividend diplomats always say, “Every dollar counts.” I totally agree. Thanks for sharing.
DivHut recently posted…Dividend Income Update August 2017My Profile

    Stockles · September 5, 2017 at 7:52 am

    Hi Divhut,

    Haven´t thought about it, but I guess you are right about that =)

    Thanks for commenting Divhut!

Engineering Dividends · September 6, 2017 at 3:49 am

Hi Stockles,
That’s a substantial haul for ‘other’ incomes sources… nice work. I like the new report, so keep them coming. I’m looking forward to all the income ideas you may share.
Engineering Dividends recently posted…Monthly Dividend Income (August 2017)My Profile

    Stockles · September 6, 2017 at 11:29 am

    Hi Engineering Dividends,

    It is, right?! Glad that you liked the new report and I will do my best to share ideas and tips on how to create more income streams. Thanks for commenting!

Chintan Chheda · September 6, 2017 at 3:06 pm

It looks interesting. But just curious how many years have you been doing this.

    Stockles · September 6, 2017 at 5:28 pm

    Hi Chintan,

    I´m sorry, but I don´t understand what you mean by “this”?

Chintan Chheda · September 6, 2017 at 3:07 pm

That’s a nice detailed post But just curious how many years have you been doing this.
Chintan Chheda recently posted…Passive Income Streams & Opportunities – High Cashflow Online BusinessMy Profile

    Stockles · September 6, 2017 at 7:42 pm

    Hi Chintan,

    I´m sorry, but I don´t understand what you mean by “this”?

Investment Hunting · September 7, 2017 at 3:27 pm

Agreed. I use credit cards for pretty much everything but my mortgage and car loan payment. I spend enough each year to allow me to use points to buy gift cards. These gift cards cover some of my Christmas gift expenses. It’s a great way to earn free money, as long as you are diligent and pay the cards off each month.
Investment Hunting recently posted…August Dividend and Options IncomeMy Profile

    Stockles · September 7, 2017 at 5:24 pm

    Hi Investment Hunting,

    Yes, the kew behind a good relationship with credit card is planning. It´s a great way to boost your income, but I suspect that it only fits a certain type of people. Here in norway young people have insane amounts of debt.

Dividend Daze · September 8, 2017 at 1:18 pm

Interesting to see a passive income post without dividends. Of course there are plenty of passive ways to gain income. Every little bit helps. I am a big fan of cash back credit cards as long as you pay them off and don’t have to pay any interest. I use them as much as I can for my needed purchases. It isn’t much but it adds up over time. Thanks for sharing!
Dividend Daze recently posted…Dividend Update – August 2017My Profile

    Stockles · September 9, 2017 at 9:19 am

    Hi Dividend Daze,

    Nice to see you back here at Stockles. I hope your vacation gave you lots of energy to create many new interesting blog posts. I´m also a big fan of credit card, and as you say, use it smart and it can benefit you alot. $15 a month is $180 in a year, which is about 10% of my dividend income.

    Thanks for commenting buddy!

Mr. ATM · September 14, 2017 at 9:41 pm

Thanks for sharing. I have heard that Adsense doesn’t pay much unless you are one of the big blogs with huge traffic. That’s why I decided not to use Adsense, why bother readers with annoying ads for a few bucks?

    Stockles · September 18, 2017 at 7:56 am

    Hi Mr. ATM,

    Yeah, for me this is more of a testing project, but I agree with you and most likely, it will go away pretty soon. Quality matters!

timeinthemarket · September 16, 2017 at 5:06 pm

It looks like you’ve got a couple of sources you’re getting passive income from which is always good to see!
timeinthemarket recently posted…My portfolio – September updateMy Profile

    Stockles · September 18, 2017 at 7:57 am

    Hi Timeinthemarket,

    Many a little makes a mickle! Thanks for commenting

Evan · September 25, 2017 at 7:30 pm

If you are going to separate out the dividend income why not separate out the bond income as well? feels like they are generally coming from the same place (i.e. an investment account)
Evan recently posted…September 2017 Undervalued Dividend Growth Watch ListMy Profile

    Stockles · September 26, 2017 at 6:49 am

    Hi Evan,

    Because I want to measure the amounts that I get from “non-stock investments”. Thanks for commenting.

Leave a Reply

Your email address will not be published.

CommentLuv badge