March Highlights and Lowlights
- 2013 Financial Goals: Not much progress in March. I’m waiting for some pullback before adding money to baby RB40’s 529 account. Let’s take a look at how we are doing on the year-long goals below.
- Generate $18,000 in passive income: In Q1, we generated $4,220 of passive income from peer to peer lending, rental properties, dividend and interest. We are a little behind our target, but not too far back. The 4 plex still needs more repairs and maintenance so I think Q2 will be a bit worse on that front.
- Generate $18,000 online: In Q1, we generated $6,916 online. This is much better than I thought and if we can keep it up, we should be able to surpass the $18,000 goal by the end of the year.
- 2013 Personal Goals: I finally sat down and put together a sustainable exercise program. When we go to the playground, I can do this workout and start to get back in shape.
- Defaults at Prosper are starting to slow down. This month we made $58 from peer to peer lending. This is below my $100/month target, but a lot better than the $20 I made in February. Things are starting to look better here.
Net Worth (+6.03% YTD)
The S&P500 Index reached an all time high in March and help drove our net worth up 1.84%. That’s great for one month and I’m thinking I should pull some investments out of the stock market. I really don’t think the stock market can keep this up and I’m sure we’ll see a correction at some point.
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Saving (+$6,031 so far)
We did very well with cash flow in March. Our income was great on all fronts except peer to peer lending. If we can keep this up for the rest of the year, I would be very happy. Our expense is a little higher because I paid for some prescription medication for my mom. It’s still within the acceptable range, so I’m fine with that.
Our saving for March is $2,333. We’ll allocate $600 to Baby RB40’s college education and split the rest between travel, fun money, and additional investment/slush fund.
Piggy Bank 2013
- 529 fund: + $600 = $1,700. The market seems a bit frothy right now so I’m keeping this fund in our savings account. I will send it over when I see a good buying opportunity.
- Travel fund: +$500 = $1,250
- Fun money: +$250 = $750
- Investment/Slush Fund: +$983 = $2,331
- For Uncle Sam: +$1,569 = $3,490. I’m withholding 33% because we have to pay state tax too. First estimated tax payment is due April 15th. Ugh…
Income (target > $4,500)
As I mentioned earlier, our income looked great for March. If P2P income hits $100, then we would be firing on all cylinders. I wish every month would be like this. 🙂
- Rentals: The tenants in our rental home caught up with the rent so that’s why we have a nice number here. On the 4 plex, we just finished drainage repairs, and we’ll see that payment in April. We also need to repair the the fireplaces so that will cost a bundle too. April and May are going to be bad months for the rentals due to these repair bills.
- P2P lending is looking much better in March. The rate of defaults and late payments are slowing down. Our ROI is stuck at at 8.07% for now. I guess I can’t complain too much because we are still making money. Here is an update I wrote recently – Peer to Peer lending isn’t as passive as I thought.
- Dividend and interest: Great month at $1,103.
- Online income was quite good in March. Anything over $1,500 is exceeding expectations. I had a few articles syndicated over at Yahoo! Finance and they drove up our earnings with CPC and CPM ads. Q1 was quite good overall and we’ll have to see if the rest of the year can keep up.
Expense (target < $4,000, not including tax)
We did well with our expenses this month. If we take out the estimated tax, we spent around $3,300. That’s below our $4,000 target. My mom is staying with us for a while and I’m paying for her cost of living. $3,300 for a family of 4 isn’t bad at all.
Wrap Up March
March turned out quite well for us. Our various income streams are doing well. The rentals aren’t going to look good over the next two months, but we’ll see how it goes.
How about you? Did you have a good month? Any progress on your New Year Goals and Resolutions?