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My Passive Income Quest for $47 a Day
Join Me On My Quest, And Start One Of Your Own
Passive income really is the way to go. It’s true that money can’t buy you happiness. But what most people won’t tell you—especially people who say that—is that money CAN help you achieve the freedom you want to pursue things that will make you happy. So, in a sense, money CAN buy you happiness, if you don’t focus too much on the semantics. Don’t let the semantics bring you down.
Because let’s face it—having money allows you to have certain freedoms that are hard to get if you don’t. That’s the society we live in. Right now, for many people—including myself—it feels like it’s all about working for your money until you (hopefully) have enough of it to retire. Eventually. And then you die. Or whatever happens next.
I don’t want to wait for eventually. I don’t want to hold off on following my passions until I reach that mythical, magical age where I can say goodbye to the day-to-day hustle and just live my life. And I really don’t want to surf through my Twitter to find reaction after reaction to articles written by out-of-touch Baby Boomers telling Millennials that we should stop buying avocado toast if we ever want to afford a down payment on a house, or should have saved twice our salary by the time we’re 35 or that we should be willing and able and happy to work harder and longer than our parents.
No offense, but Baby Boomers have chosen not to understand the world and economy they’re leaving people my age. I’m not interested in playing a game that I know is rigged against my generation.
I’m opting the hell out.
(And you should opt IN to my email list! See what I did there?)
Living In The Now – Made Possible With Passive Income
Quite frankly, I want to be able to live now. I want to not panic when I have to take my car in for service, I want to be able to afford non-generic brand toilet paper, I want to be able to hire someone to help me keep my apartment clean, because I sure as hell suck at that. But I also want to have more freedom to follow my passion of being a novelist. I want to travel more, I want to see the world, see the places that inspire my writing. Hell, I just want to get back to California more often to see my friends. Arizona gets HOT in the summer, yo.
Recently, I saw a quote from Kelly Marie Tran—you know, the actress a bunch of racist dudebros chased off the internet because she dared to enjoy being the first woman of color to have a major role in a Star Wars movie—about her parents and how they worked so hard to provide a good life for Kelly and her sisters. It really struck a chord with me while I was putting together my first few posts for this website:
“So many people don’t realize you need to be on a certain level of Maslow’s hierarchy to have a dream: you have to have food and be safe from danger, all these things my parents didn’t have at the get go, so I, from the very beginning, believe that I have been living for multiple generations, for my parents and grandparents.”
Abraham Maslow proposed the theory, Maslow’s hierarchy of needs in 1943. In a nutshell, it covers the primary physiological, safety, social, and esteem needs a person requires.
I have more than the bare minimum of all four, but knowing that isn’t going to stop me from wanting more out of my life than an 8-5 job and working for the weekend and eventually retirement and…like I said, whatever the heck is supposed to come next.
So, this is where I am going to document my quest to support my life through passive income, so that I can live a freer, more fulfilling life.
A Little More About Me
My name is Kathryn and I am an Arizona-based writer, editor, blogger, college sports statistician and record keeper, and very proud cat lady, among lots of other things. That’s a selfie of me with my four-legged roommie, Bishop (who is named after Hawkeye from Marvel Comics. No not that Hawkeye, the other Hawkeye. Leave a comment if you know what I’m talking about).
The passive income journey I’m on started in earnest in April of 2018. I was talking to a friend from work about other ways to make money (a common topic, am I right?). I’d been blogging since late 2016 (and not making much money), but I was figuring things out and learning what I could on my own. What I know now is that the best way to make extra money is through generating passive income.
But it’s not as easy as that. You see websites and blogs that talk about passive income and making money through blogging, and these bloggers post income reports that show they’re making astronomical amounts of money. Like, it’s kind of really insane. I’d have to work 365 days a year for five years to make what some of these bloggers and entrepreneurs make in just ONE year. It can be overwhelming and INCREDIBLY intimidating.
On the other hand, it’s great, because you know that there is a potential for both me and for YOU to be right up there with them. It’s entirely possible to make those five and six-figure incomes through your websites and side hustles.
It’s only intimidating if you let yourself be intimidated.
Doing The Math
One night, after talking to a friend about starting a side business to help us get some extra cash on the side from what we get at work, I did some math. I determined that, to make enough money to cover my rent for a year, I need to generate $32 in extra income every day.
$32 a day.
When you put that into perspective, it’s not hundreds or thousands of dollars in a day, it’s just 32. That’s NOT a lot a money. It’s really an attainable goal, right?
Well, I certainly think so.
But Kathryn, if you need $32 a day to cover your rent, then why is your blog called Quest for $47?
$47 is not far off $32, and that’ll also give me some extra wiggle room to also cover some of my bills (like unforeseen medical bills. You never see them coming, but NEED to be prepared for it all the same). Or I’ll invest, or go on a nice vacation, or buy way too many Power Rangers comics (though, there’s really no such thing as way too many).
While the sky’s obviously the limit with passive income, but I’m going to start with $47 a day, every day. (And to stay accountable, I’ll be putting up the income reports to prove it. Check out my first Income Report, for August 2018!) That’s a number that works for me, that still feels attainable, just like $32 does. For this project, it’s all about what works for me, and sharing that with all of you.
Get Started On Your Passive Income Journey
Ready to take your own journey of generating passive income of your own? Need hosting? I recommend you get started with Siteground for as low as $3.95/month. And don’t forget to download your FREE Blog Startup Checklist so you KNOW you’re starting things off on the right foot.
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