Online Income Report – January 2011

Here is a breakdown of my online income for January 2011.

Google Adsense – $214.60

Affiliate Income – $650

Brokered Ads – $49.88

Direct Ads – $101.57

Ehow –             $11.51

Total – $1027.56

My online income was once again over $1000.  It was boosted by a large affiliate check.   Affiliate income will be much smaller this week so my new streak of $1000 months will likely be over at two months.  Still I’ve made $1000 or more a month for five of the last six months so I’m not complaining.  Considering how little effort I’ve put into my online endeavors lately I am lucky to be making this month.  If I put in 40 hours a week working online I think I could make a full-time income.  We will see.

January Expenses – $1913.05

Here is a breakdown of my expenses for January.

Household

$608.39

Entertainment

$86.70

Transportation

$243.28

Food

$36.75

Medical/Dental

$273.21

Utilities

$119.54

Education

$430.18

Debt $115

Total

$1913.05

My expenses for January were much higher than I would like.  This is mainly due to spending over $400 for bar preparation materials and over $200 for a doctor visit.  My food total only includes meals I eat out by myself, that is why it is low.  My expenses should be lower this month since I won’t have the bar prep or medical expenses.  Expenses will still be higher than normal because my wife and I are taking a short getaway to Dallas.  Also the cost of driving back and forth to St. Louis to participate in the study will increase my transportation expenses although I may just take that out of my income figure.   I’m thinking my expenses will probably get back to around my $1000 goal in March.

January Investment Income – $97.23

My January investment income rose to $97.23 from $95.71 in November. I didn’t get around to calculating my investment income for December. I’m pretty close to $100 and barring any disasters should make that goal this year. My ultimate goal is $1000 a month. To reach that goal I’m going to have to start investing more rather than just relying on stock increases and reinvested dividends to get my gains.

This is not my actual investment income. To get this figure I first add up my retirement savings, emergency fund, and any other money I consider permanent savings. What the total of my savings would earn at 6% interest for a month is my monthly investment income. My goal is to get this amount to $1000 a month. If I have $1000 in monthly passive investment income I will be able to retire early. You can see what my actual investment income for the month was by looking at my monthly income report and adding the interest and dividend amounts.

Update and Goals for March 2011

A lot has happened since I last updated what is going on in my life. I decided to delay taking the bar until July. I just didn’t feel I was ready for it this month and I’m not sure if I will be able to prepare for it with self-study alone. I’m going to start reviewing again in May and if I don’t feel like I’m making sufficient progress on my own I’ll shell out the money for a review course. I’ll definitely be taking the bar in July since you are only allowed to postpone the exam one time after that you are out your exam fee. I’m not going to pay another $1000 to take the exam again so this time will be it.

I also have started a new medical study. For this study I’m basically gone a week then back home for a couple weeks three times. There are two visits this month and one in March. It is a bit of a hassle but it is worth the money.

I’m also going on a short trip to Dallas next week with my wife. This is just a getaway trip. I had a $200 credit from Southwest that I got for being bumped from a flight last year that was about to expire and I decided to use it for this. A short getaway should be good for my mental health.

I’ve not done very well on getting things done so far this year. Therefore I’m going to set some goals and try very hard to keep them.

My first goal is to make at least $500 in income from sources other than my blogs and the medical study by the end of March. This should be fairly easy to meet. Most of the money will probably come from mystery shopping but I am hoping to sell a few things as well.

My second goal is to have my ebook finished by the end of March. I’m hoping it will be closer to the beginning of March. I am going to write at least a page a day until I’m done. I’ve outlined most of what I want to write and I think the material is all in my head I just need to get started. I’ll post again at the end of March with some new goals and how I did on these goals.

Paid Clinical Studies How To Guide

One of the reasons I haven’t written much this past week is because I was participating in a paid clinical study. This is the first paid medical trial I have done this year although I do participate in a couple of medical studies last year. Whenever I write about doing these paid studies people want to know how they can do paid medical studies as well. It is pretty simple and I’ll break down the process to make it easy for others to find and participate in paid research studies themselves.

The process of doing this medical study started last Wednesday. First, I called a clinical research facility I had done a study with before to find out if they were offering any current studies. To find a clinical research facility in your area look at websites such as GPGP.net(guinea pig get paid) or JALR.org (just another lab rat)which have lists of facilities. If you live near a major metropolitan area there is probably a clinic research facility near you. These facilities use advertise in the local media as well.

Once you find a clinical research study you call them and see what studies are available that you qualify for. The studies qualifications are usually based on age, gender, BMI, or some combination of these. My over 30 BMI disqualifies me from many studies and the fact that I don’t have a gall bladder disqualifies me from many studies too. There are usually still some studies I can qualify for though.

Once you have qualified for a study the recruiter will set up a screening appointment for you. These appointment usually last for 2-3 hours. During the appointment you usually will have blood drawn, give a urine sample, have your vital signs taken, and ECG taken, complete a medical history, have your height and weight recorded, and receive a physical from a doctor. Depending on the study you may have some more medical procedures. If everything is ok the facility will contact you and let you know when to report for the study.

The time frame between screening for a study and starting a study varies but it is usually a week or two. In my case I called last Wednesday, had my screening on Thursday and started on Friday. The process is normally more spread out then that but the facility was having trouble finding enough volunteers for this somewhat large medical trial and I just happened to have the good timing to take advantage of their shortage.

If you don’t qualify for the study then you have wasted some time because you don’t get paid for screening only for participating in the actual study. Depending on what disqualified you it is possible to set up a screening for another study.

Before you report for the study the facility will give you instructions on what you need to do before starting. This is usually stuff like avoiding caffeine, strenuous exercise, and prescription and non-prescription medicine for a certain period of time before entering the study. They should also give you information on the house rules and what you need to bring.

Once you arrive at the study you should get a schedule of what you are going to do. In my most recent study I arrived on a Friday afternoon and there were no procedures that day just a couple of meals. On Saturday I had to get up at 3am to start the medical testing. They took vital signs and a baseline blood draw. A couple of hours later I was dosed with the study drug and had blood drawn every two hours for the next 30 hours. I wasn’t wild about this since it made it difficult to sleep but it wasn’t too bad. Every study is different but generally there will be lots of blood draws.

This study allowed everyone to leave the facility 36 hours after dosing with the drug although I did have to be back for a follow up visit 12 hours after leaving the facility. The duration of your visit will vary but usually the longer you are required to stay the more money you will make.

Upon completing the study you will receive a check to compensate you for participating in the medical study. Depending on the facility the check will either be given to you at the facility or mailed to you at a later date.

The facility I just was at does clinical trials of generic versions of already approved prescription medicines which seems pretty safe to me. I usually don’t feel any effects at all from taking the medication and there has only been one study where I experienced unpleasant side effects.

Doing a paid medical study is pretty easy. Basically all you have to do is call to set up a screening appointment and then show up. I consider it fairly easy money although others would disagree with me. If you are interested in doing a paid medical study all you need to get started is find a facility near you and give them a call. This post is getting long so I’m going to wrap it up. If you want to do a medical study his is enough information to get you started, all you need to do is actually take action.

If you have any questions about participating in a medical trail leave me a comment and I’ll answer as best I can.