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:
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
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?