So this month was very exciting. Let's go over everything a see how we are for our first month in becoming financially free and also setting up for a nice passive income.
So this month
- I signed up to Amazon Affiliations
- Assigned my Google Adsense account to my blog
- Filled out and application for affiliation with Lending Club
- Started isolating my debt, preparing to pay off debt.
- Opened an lending club account to start investing.
- opened a Note trading account (FolioFn) as well
Setting up the affiliation with Amazon was pretty easy only took a minute or two. (Done)
I already have an approved Adsense account so associating the account wasn't too to hard. (Done)
As for the Lending Club Affiliation I haven't heard anything back on that yet. (Pending)
I took a long look at my debts and started to pay and extra $250 at the minimum towards a credit card that is one of two cards that I have. This card has a balance as of today of $2812.67, which currently has nothing due for the monthly payment. (never NOT[double negative] make a payment) All the rest will be paid at their normal level. If I have more funds available in October I will shoot for a goal of paying $1000 towards that card.
Now with Lending club I invested $1000 to start. My goal is to add $250 every month to invest in more Notes.
As you can see below in the summary. I have earned $1.57 in interest since 9/19/2013 (not bad, something is better then nothing) I invested all $1000 into 40 note ($25 each). 27 loans have been issued and 13 more are still in review.
I started out with just the defaults to get thing invested fast. this is the first portfolio that states "Auto Day 1"
Then over the next few days the notes went from "InFunding" status to "InReview" and as you can see 8 notes dropped and reduced my "Auto Day 1" from 40 notes to 32. So I had to create another portfolio for just the once that dropped over the weekend called "The Beginning" and then on the first sold week as the onces from "The Beginning" fall off. I created another portfolio called "Week 1"... but now that September is over I will just combine all the portfolios into one."The Beginning".
I also build out a prediction excel sheet to help with working in my goals. Also to track all interest earned payments received and ROI's
One of my goals in the short term is to get the account to 10,000 before the end of next year. And then look into opening another P2P investment account with Prosper.
I think this is all for now. I will add more later. I'm thinking that I will go over the excel spread sheet that I have developed once I get thing cleaned up and organized little better.