Increase your income, my new challenge

At the start of 2014, I set myself a challenge: to optimize my personal finances. After a little over 9 months, the results are already very positive and I have made enormous progress on the subject. You can also follow most of my adventure by browsing through the various blog posts. In particular, I have greatly reduced my daily expenses , all without affecting my rhythm of life, and even more so that of my family. We have also started to diversify our sources of income : the salaries we receive each month are now supplemented by 3 rents, which in the current economic context constitutes a significant security. But I have the idea of continuing this diversification of our sources of income, in order to continue to reduce this almost exclusive dependence on our salaries and thus prove to you that it is possible to increase your income. Let’s see how I plan to go about it…

This year 2014 was notably marked by the purchase of our first apartment building. In the idea, it is a question of making a passive income of it or almost . For now, we are not there yet. Between the steps related to the acquisition and our adventures with one of our tenants, this first year as owner-lessor was relatively time-consuming. Even if 2015 will be calmer for this first investment, we do not expect to launch a new investment of this type in the short and medium term. We first want to stabilize the situation and build up a small reserve of money to deal with the various hazards of this first project.

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Even if we wish to continue to diversify our sources of income, we will therefore not use rental investment as our next action. But we will probably come back to it in a while! 🙂 Remember, however, that this is an excellent lever to increase your income : thanks to this first axis, our income has increased by more than €1,000 per month!

Increase your income, my new challenge

I presented to you some time ago 6 ways to earn money other than through employment. The investment in a building, in particular described just before, had in particular been mentioned there. Parking lots, the stock market or even entrepreneurship were also some of the avenues proposed to increase one’s income . Getting into the stock market has clearly crossed my mind many times. The dividend-based strategies that I have studied here and there seem interesting, but I finally decided to discard this approach. At least initially. I may come back to it in a few months or years, but I don’t think I have the time to invest myself properly in this area for the moment. So I chose another approach, which suits me better. This approach, even if it turned out that it didn’t work, seems healthier and more interesting to me. In any case, it has the merit of corresponding more to my profile, and the financial risk associated with this method is very low.

Since the establishment of the blog, the latter brings me a little money. The sums are really ridiculous, but it allows me at least to reimburse my accommodation costs. In any case, the blog is not today part of my strategy of diversifying my income: it is to this day above all a space for sharing, which allows me to offer you my experiences, good or bad. It is also a space that allowed me to meet some bloggers. In short, its primary objective is to be a space for exchange above all else.

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But I’ve always been interested in the web world. It is therefore quite naturally that I stayed in this field, with a new approach to increase its income: niche sites. I talked about it some time ago. The principle is as follows: create and launch a website in an area that is not very competitive . Then monetize the traffic of your site by affiliation (sale of products on which you receive a commission as a business provider), the sale of direct products, advertising or others. The concept is simple, but the implementation is obviously a little more complicated.

The bad news? Basically, I know almost nothing about niche sites. This is the first time I’ve embarked on this kind of project !

The good news? I am motivated, and once again I intend to share this new adventure with you: my actions and their effects, my mistakes, .. From the implementation to the regular monitoring of the project, I will share almost everything with you. The objective is twofold. This is for me:

I will come back to the project in more detail in a future post, where we will discuss together the first steps and the objectives that I have set for myself with regard to this first niche site. See you soon! 🙂

What do you think of this kind of project? Do you already have a few niche sites under your belt?