Earning Money Online Through Adsense

In a previous post dated 16 August, I mentioned that I wanted to increase my passive income from Adsense to $1 per day. I have been exploring ways to earn more money online.

This is a breakdown of my report for the amount that I have earned from Adsense since May 2008:

Jun 08= $0.41
Jul 08 = $0.38
Aug 08 = $4.44

I have manged to increased my passive income from Adsense by nearly 10 times within 1 month! This is part of the overall strategy to increasing my passive income through various avenues. In the coming month (Sep 08), I will be significantly busier at work. As such, I do not expect to be able to achieve the same success as I managed in Aug 08. However, I will attempt a target of $5.00 for the month of Sep 08. I will also be exploring dividend yielding stocks, high interest rate bank deposits or REITs to increase my passive income.

I have dedicated another blog that will explore my financial freedom journey on making money online. Do visit it here.

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Dividends Recieved for Aug 08

Ascott REITs (28 Aug) = $497.20
First REITs (29 Aug)= $286.50

Total for the month: $783.70

This money will be reinvested into some other dividend yielding stock or REITs. Will be looking out for stocks that are giving out dividends for the months of Sep, Oct and Nov.

Update to Monthly Expediture (23 August 08)

This is an update of my current monthly expenditure:

My current monthly expenditure in (S$)

1. Housing installments = 1096.00 (wife is sharing the burden)
2. Car Monthly Installment = 518.00
3. AIA Investment Link Plan = 350.00
4. Asia Life Policy = 154.20
5. Aviva Insurance = 51.72 ( - $51.72, reimbursed by employer)
6. Conservancy Fees = 49.00
7. Telephone & Internet = 33.96
8. Cable TV= 25.68
9. Mobile Phone Bills= 30.89
10. Electric, Water, Gas= 100.00 (estimated)
11. Car Insurance = 110.00
12. Parking= 150.00
13. Road Tax= 60.00
14. Petrol= 300.00
15. Food= 300.00
16. Tithes, Parents = 600.00

Current Monthly Expenditure = $3887.73

Reducing Monthly Expenditure by $5

I managed to reduce my monthly phone bill expenditure by $5. This was done through cancelling of the international roaming which I have not been using.

It will cost me $10 to reactivate it the next time but I guess I will not be needing any international roaming at least for the rest of the year as I do not expect to be going overseas.

Current Net worth (August 08)

Monthly Expenditure - Reducing my cable bills

I have removed my high definition (HD) plus option for my cable tv. This reduces my bill by S$15 a month. Just a 5 minute call and that saves me $15 a month!

Decided that it was not worth while paying for 3 additional HD channels when I do not even watch them that regularly. Besides, the programs are roughly the same as the ones that are non-HD. And what's more, I can't really tell the difference between HD and non-HD!

So there you go, a savings of $15 a month.

Home Insurance

No financial planning is complete without insurance. I would be adding in details of the various insurance that I have.

Let me start with my home insurance.

Since I am using my Central Provident Fund (CPF) for my monthly housing installments, I have to be covered under the Home Protection Scheme (HPS). HPS gives me protection up to age 65 or to the end of the loan period, whichever is earlier. In the event of permanent incapacity or death, the Board will pay up the outstanding housing loan so that my family can keep the flat. That is if my loan is 100% covered for. So for an annual premium of $200 to $300, my outstanding mortgage loan is covered should anything untoward happen to me. Isn't that wonderful planning by the government!

If you have a private life or mortgage reducing insurance which is sufficient to cover your outstanding housing loan, you may apply for exemption from HPS. The above also applies if you are paying the housing instalments under PHS. HPS is optional only if you use cash to pay your monthly housing instalments.

Apart from HPS which covers my mortgage loan should any untoward happen to me, I am also covered by AIG American Home Assurance Company.

The coverage details are as follows:
Coverage Descriptions Limit (SGD)
Building = $150,000
Alt Accomodation Expenses = $4,500
Household contents = $30,000
Contents at Temporary Premises =$4,500
Replacement of Locks & Keys = $250
Personal Accident (<66 liability =" $500,000" style="FONT-WEIGHT: bold">S$81.00 per year.

In conclusion, I think my insurance coverage for my home is pretty well covered. The only way that I can improve the coverage is if I am able to find another insurance that provides the same coverage but at a lower cost (i.e. less than $81.00 per year)

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