It has been a long while since the last Milestone the TOL’s accomplished. The most recent was Milestone #8 accomplished on March 15, as we became completely credit card debt free. Since that time, we have been diligently working towards financial independence and in the process have come even closer to achieving a few more milestones.
Well, we are glad to announce we can scratch one milestone off of the list.
On June 21, 2016 we crossed the $50 threshold in passive income received in one month, earning $50.85 in passive income from June 1 up to June 21.
Crossing this milestone is huge for us, as it indicates the progress we have made since we started our portfolio in 2015 with a single $97 stock purchase. This $50.85 represents cash that we did not have to get up early in the morning and go in to work to make. The snowball is rolling and it is gathering up some momentum. What makes this achievement even more monumental is that we are doing this as a 1-income family, meaning we may not have a large amount to invest at one time, but we are being good stewards of what we have – keeping our expenses as low as we can get them and investing the remaining funds.
This milestone was achieved through a combination of:
- dividend payments ($32.64),
- interest earned on saving accounts ($5.09),
- interest earned on a CD ($2.53) and
- an app reward ($10.00).
The app reward is so easy, it’s ridiculous. We literally get points just for opening our phones! We accumulated enough points on one of our phones and cashed them in for $10.00 cash delivered through PayPal. It doesn’t get much more passive than that.
The next milestone for passive income in one month is $100, and we are working our tails off to get to that next level!