YouTube (Google AdSense)

My YouTube channel has emerged as my most lucrative income source. I frequently leverage my videos to promote my other ventures, positioning YouTube as the central hub of my brand.

This platform captivates me, and I dedicate a significant portion of my spare time to it. In 2021, I made a commitment to enhance my content output by releasing two videos weekly instead of one. For newcomers, starting with one video per week is a solid approach.

While creating videos isn't passive in itself, it becomes passive once the content is published, ideally continuing to attract viewers for years to come.

That’s why I focus on producing evergreen content, ensuring my videos retain relevance long after their release, making them easily discoverable by new audiences.

For instance, I chose the title of this article based on a YouTube video rather than a specific month’s earnings recap.

In February, I earned a total of $501.62.

Interestingly, my earnings in January were lower than in December, despite producing more content. This is often due to the increase in advertising spending leading up to the holiday season.

Most of this revenue comes from Google AdSense, which generates income through ads shown before, during, and after my videos. Creators earn money only if viewers engage with the ads, either by watching them or clicking through.

Book Sales & Audiobooks

I've self-published two books: The Money Resolution, which chronicles my journey to financial transformation, and Money, You Can Hack It, which expands on the first with more creativity and research.

Both titles are available on Amazon in various formats, including paperback, ebook, and hardcover (new!). I’ve recorded the audiobook for the first book and am gradually working on the second.

In January, I sold my audiobooks for a total of just $8.40, as most purchases were made by Audible subscribers, resulting in lower earnings.

For January, my share of book sales amounted to $282.69.

I also promoted my first book by giving away 310 free digital copies at the start of the year, as it became exclusive to Amazon. This version has since been updated for 2021.

Amazon Associates

Amazon Associates is an excellent affiliate marketing opportunity for anyone with an audience. It allows you to create custom links to products on Amazon, which you can share across your platforms. If someone clicks your link and makes a purchase, you earn a small commission.

You don’t need to worry about what they buy or when; you receive a commission for any purchase made within a 24-hour window.

I spend minimal time generating Amazon links. I include affiliate links to my books and a section about the equipment I use to create my videos.

Additionally, you can earn bonuses for new Amazon Prime or Audible sign-ups via your links. After sharing a video about getting Prime at a discount, I occasionally earn from users who sign up through my personal link.

In December 2020, I reached a peak month with $29.05 in earnings. However, January saw a decline to $19.58.

In total, I earned $29.58 from affiliate marketing and referral links.

Course

I wish I had more exciting updates regarding my course creation efforts, but as a newcomer, my experience aligns with what many first-time course creators face...

To be brief, I anticipated some sales in January, yet my total earnings were $0. Since launching in November 2021, I’ve accumulated $169.75 in total sales.

Currently, 11 individuals have enrolled in the complete course, and 12 have explored the free preview, which includes the introduction and first module.

I chose to host my course on my website via Kajabi, benefiting from having a smaller audience on YouTube for promotion.

Though opting not to launch on platforms like Udemy or Skillshare limited my exposure, it allows me to retain all profits and build my email list.

And yes, the initial trial is free!

Medium

I discovered Medium in mid-2020 and felt it resembled YouTube for writers. While I may be oversimplifying, I genuinely enjoy the platform.

I began posting articles in October, with over half being featured in publications, which has boosted both my exposure and earnings, albeit modestly. I'm committed to consistency and plan to write 100 articles in 2021.

In January, I earned a mere $1.26, which is half of what I made in December.

This documentation serves as motivation to write more frequently. I've also initiated a publication but am still figuring out that aspect of Medium.

Coaching

While coaching entails exchanging time for money, I consider it passive income, as it allows for significant earnings relative to time invested.

I earned $0 in January from finance coaching. Since mid-2020, I've provided free guidance to 10 individuals, helping them navigate their financial challenges.

In January, I met with two people for free, as my goal is to build my skills and confidence before charging for my services.

So far, so good. I see myself more as a thought-partner and have seen positive outcomes for my clients. I'm refining my strategies and questioning techniques.

Talking about money with real people energizes me, and I'm eager to help. I plan to monetize this in due time but am in no rush.

Sponsorships & Partners

I’ve collaborated with one partner on three YouTube videos. While they offered direct payment, I preferred to focus on growth and exposure.

As part of our agreement, my partner promotes my YouTube videos, resulting in thousands of views, albeit few new subscribers.

This experiment is enjoyable, and I’m pleased with the partnership.

Totals

In total, my passive income for January amounted to: - YouTube: $501.62 - Book Sales: $282.69 - Affiliate Marketing: $29.58 - Course: $0 - Medium: $1.26 - Coaching: $0 - Sponsorships & Partners: $??

TOTAL: $815.15

Fortunately, this surpassed my goal of $750. It’s a promising start. If I maintain this income for 11 more months, I would generate nearly $10,000 in additional earnings, specifically $9,781.80, with most being passive after initial efforts.

There is one more income source I have yet to include, which is dividends from investments. I plan to factor those in going forward.

My personal goal for 2021 is to earn $20,000, and I’m open to sharing my journey towards that target if readers are interested.

In conclusion, here’s a transparent overview of my seven “passive income” streams, detailing my earnings and insights from my experiences.

I self-published a book, developed a YouTube channel to support it, and built a brand over two years. Everything is interconnected, and year three is off to a promising start.

This reflects the reality of a passive income journey. It requires effort, yet it’s more rewarding than traditional income, even if my earnings are currently lower.

I’m transparent about my financial journey and enjoy discussing money matters, especially when it aids others.

My ultimate aspiration is to work for myself full-time. Achieving this would enable me to assist more people and demonstrate how they can achieve the same.

Help others, then help yourself, and repeat.

For more insights, check out my recent YouTube video where I delve deeper into these topics. Additionally, you can grab a free review copy of my latest book, “Money, You Can Hack It.”

Frankie Calkins (M. Ed) is a Digital Marketing Manager during the day. In his spare time, he is an author, YouTuber, and finance course creator. He resides in Seattle, WA. Contact: frankie@themoneyresolution.com

This article is intended for informational and entertainment purposes only and should not be construed as financial or legal advice. Always consult a financial professional before making significant financial decisions.