Why I am Tracking My Income Results
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The nice thing about tracking results online is that it holds one accountable for what they preach. For example, a personal finance blogger may track and publish the income results of what they earn each month online. A fitness blogger, on the other hand, may publish results and pictures from a particular food or exercise challenge.
“Results” style posts provide an opportunity to showcase your hard work.
Some bloggers track only the good news. Think personal finance blogger who only tells you what they are earning but leaves out their expenses. Or maybe a blogger failed at something but they decide not to discuss it with their readers and only give them their success stories instead.
Others may be an open book on their success and failures on a certain topic. Details could include what is working, what is not, and how they can do a better job at whatever they are tracking.
It really depends on the blogger. For me, I have decided to be as detailed as possible in my results style posts here on The Money Sprout.
One such “results” style post that I am publishing is a recap of dividend income I am earning each month. I am very passionate about this subject (which I am sure you can tell) and will continue to provide all the details of my success (and failure).
The Money Sprout – Dividend Income
I publish dividend income results on The Money Sprout each month. I don’t do this to try and convince my readers to buy dividend stocks or to invest at all. After all, this is not an investing site, rather one that focuses on building multiple streams of income – aka The Money Sprout Blueprint.
I publish these results to hold myself accountable for what I am preaching. I publish these results to hopefully motivate my audience to build side income streams of their own.
Maybe the stock market isn’t for you. Maybe you prefer a real estate investment that generates rental income for you. Or maybe you want the safety that a certificate of deposit brings. A side income stream could be earning money by selling items on eBay or Amazon. You could decide that you want to build your own online store.
It really is up to you!
For me – I focus on dividend stocks because that is what I know and am comfortable with. The goal is to motivate you (and me) to get started. I certainly won’t stop at just earning dividend income. There are plenty of other income streams that I plan to build and give my feedback to you as well.
Results Posts Help Me Too
Tracking results can also point out issues or problems with a certain strategy a blogger is working on. For example, after publishing the Money Sprout Dividend Income Index, I realized my portfolio was unbalanced. It wasn’t until I had it right in front of me just how out of balanced the portfolio was.
By publishing my dividend income results and updates, I not only hold myself accountable with my readers but also with myself. It may have taken years before I realized just how out of balance my diversified portfolio was – if ever.
I will continue to post my monthly results where you will be able to see the changes I am making to my income generating strategy. Some changes may work while others may not. As long as I keep pushing forward (learning from my mistakes) I am certain I will have built a solid income generating machine that can stand the test of time.
As a reader and follower of many blogs and sites, I personally find the “results” style posts the most interesting and motivating. There is not a month that goes by without me reading a income results post from one of my favorite personal finance site that inspires me.
Hopefully I can help to inspire my readers as well!