Last year, I kept track of my progress monthly to show how close I was getting to my annual goal of $5,000 in online earnings. I was short of this total, and I was only able to earn a little over $4,300. I was not frustrated, though, because that was $4,300 I would not have earned had I not started out with a goal to make money online.
This year, I decided to up the ante, and set a goal of $450 per month for 2014, which comes out to $5,400 for the year. I’m using many of the same income streams that I had before, but I’ll also try to bring in a few more over the course of the year to see how other options work. Without further ado, here is my first earnings report for 2014. In January, I earned from the following sources:
Amazon’s MTurk: $5.32
Freelance Writing: $444.61
Total for January 2014: $597.33
Total for 2014: $597.33
Amount remaining before reaching 2014 goal: $4,802.67
This was a much better start to my year than last January, in which I only brought in $187.31. If I can keep up my current rate, I should be able to meet my goal of earning money in pajamas this year.
Last January, I posted that it was important to set goals in any venture. The world of online earning is no different. My post on setting online earning goals was not my most popular post, but I was able to share my goal with the world (or at least those who wanted to know what my goals were). My goal for last year was to earn $5,000 online for 2013. I fell a bit short at just over $4,300, as noted in my final monthly earning report for 2013.
This year, I decided to be a bit more ambitious. Some people might wonder why I would not scale back after failing to meet my ultimate goal. I would argue that it is important to attempt to exceed previous goals. Therefore, I decided that a good number for this year would be $450 per month. Should I be able to keep up that pace over the course of the year, I would earn $5400 for 2014. That’s almost enough to max out a Roth IRA for the year for those who have their finances in order.
I’ll detail how I did this in another post later this month, but it appears that I exceeded $500 in earnings in January. If I could keep this amount up, I would be able to post more than $6,000 in online earnings for the year, and this would greatly exceed my goal. I’m still convinced that the way to achieve great things in any venture is to set achievable goals that can incrementally go higher and higher. That’s the reason for my higher goal this year. If I don’t make it, I can at least say that I went down swinging.
What are your online earning goals for 2014? Failing to set one will probably mean that you won’t make as much as you might hope. It’s a good idea to break the annual goal into monthly, or even weekly goals. My yearly goal of $5,400 will be just over $100 per week. Good luck as you try to build your wealth through online earning this year.