Paying Off Debt with Hubpages Income

Hubpages is indeed the best revenue generation platform for online writers and bloggers.
Hubpages is indeed the best revenue generation platform for online writers and bloggers. | Source

In November 2005, I purchased a two-bedroom plus drawing dinning flat in Patel Nagar, Delhi for approximately 16 lakh Indian rupees. I bought this house taking a mortgage loan from ICICI bank worth 12 lakhs 30 thousand Indian rupees. At that time in 2005, my interest rate was 7.25% reducing balance whereas today it is 12.25%. It almost doubled in 2009 nearly 14% for six months. Till today January 2010, I have paid approximately 8 lakh rupees to ICICI bank in the form of monthly installments (rupees 11770/- per month) but unfortunately out of those 8 lakh rupees, only 50 thousand rupees have gone towards the principal part and 7 lakh 50 thousand rupees have gone towards the interest part. I admit that the value of my home has increased to nearly 45 lakhs rupees in 2010 from 16 lakhs in 2005 but as this is the home I live in and is not an investment property, it is my bad debt which I should pay as soon as I can.

In October 2007, I joined hubpages and started writing articles and earned a few cents each day for many months. It was in June 2008 when I received my first adsense check via hubpages. The day I received my first check, I set a goal in my life to start writing more and more articles and bring my part-time income from hubpages to at least near to Rs. 11770/- per month in one year to pay off my monthly home loan installment. I was successful in doing that.


Understanding HubPages - Making Money with Hubpages

Rajinder Soni (soni2006 at hubpages). Link will take you to the details of my winning extra 200 dollars from Hubpages Travel Contest in September 2010.
Rajinder Soni (soni2006 at hubpages). Link will take you to the details of my winning extra 200 dollars from Hubpages Travel Contest in September 2010. | Source

Now my installment was paid off via my adsense check earned from hubpages but I wanted to pay my remaining home loan debt very fast. For doing this, I set a goal of achieving at least 16000 rupees in the form of adsense check till December 2010 and I was successful in doing that. Now my next goal is to increase my adsense income to at least 24000 rupees till December 2011 to pay off mortgage early.

Now here is my step-by-step plan for paying mortgage debt with hubpages income:

  1. January 2011: Open one recurring deposit account depositing Rs. 4000/- per month for one year. After one year, I will get more than Rupees 50000/- as principal and interest on my deposit.
  2. March 2011: Open another recurring deposit account depositing Rs. 2000/- per month for one year (assuming increased income in March from writing at least 40 personal finance articles in January 2011).
  3. June 2011: Opening another recurring deposit account depositing Rs. 2000/- per month for one year.
  4. September 2011: One more recurring deposit account for Rs. 2000/- per month for one year.
  5. December 2011: Another RD account for Rs. 2000/- per month for one year (assuming Rs. 24000 per month of income from hubpages).

Month
Increment in Hubpages Income
Investment Strategy
January 2011
4000
4000 x 12 months in Recurring Deposit
March 2011
2000
2000 x 12 months in Recurring Deposit
June 2011
2000
2000 x 12 months in Recurring Deposit

Now what will happen, whenever one of my recurring deposit account matures, I will start a new one with the same monthly money and take out the money I deposited since the last year and pay as part payment for mortgage loan, so I will start paying part payments from February 2012, another in April 2012, then July 2012, then September 2012 and so on. It should also be noted that part payments don’t carry any service tax or additional charges on the loan payer. My idea is to pay off my mortgage debt in 7 to 8 years (84 to 96 months. Today, my mortgage debt is still remaining for more than 300 months.

30DC Day 11 - HubPages

In this way, not only me but several other hubbers or article writers from different parts of world are earning money and some like me are also using this excellent revenue sharing site to pay mortgage debt in a fast way.

Also, the above investment advice was for starting recurring deposits without investment risks and having average interest rates. There are several other deposit schemes and investments yielding high returns that a person can start to pay off debt from increased income or extra money he earns every month and manage his personal finances with the help of hubpages revenue.

Important Points to Note:

1. The income earned from hubpages is not my full time income. I do a full time job for handling my other expenses.

2. Also, hubpages income is not only limited to adsense earnings. For increased expenses every month, hubpages income from Ebay, Amazon, and Kontera can be utilized.

3. Hubpages has a wide audience and large community to answer all your questions regarding setting up an account and earning money.

4. Hubpages engages its writers in different types of contests and competitions on a regular basis which helps in boosting enthusiasm among writers community. Eligible candidates are awarded with additional prizes that are apart from their regular income.

5. If you have not joined hubpages till now, join it for earning money

More by this Author


24 comments

Rahul 5 years ago

This is really nice. Hubpages can make nice side income.


soni2006 profile image

soni2006 5 years ago from New Delhi, India Author

Hi Rahul, yes it is really possible my friend. You won't believe next month I am planning an adsense income increase of Rs. 4000/- and most of the clicks are coming from hubs at hubpages as displayed in my url tracker.

Buddy join hubpages and reap the benefits. I have worked with squidoo and some other sites but I would like to remain long-term with hubpages, as I enjoy being here. It's just like a family to me. Very helpful community.


Rahul 5 years ago

Looks like you earn some decent coins from hubpages. Also, My most of income comes from hubpages only. But now i am trying to diversify with other sources.


Madurai profile image

Madurai 5 years ago from Online

No Rahul.. Soni is not earning coins in Hubpages . he is earning Notes that too US Dollar notes....


jobister profile image

jobister 5 years ago from Anaheim, California

Good luck in achieving your goals.


LillyGrillzit profile image

LillyGrillzit 5 years ago from The River Valley, Arkansas

Goal making is the #1 step for reaching goals. I am so happy for your success, and I am hoping that your previous hard work pays off faster than you ever thought possible. You have a good head for finance, and this may sound silly, but I am very proud for you. Not only are you thinking of yourself, but others. According to Napoleon Hill, the author of the Law of Success (later a bite size book; Think and Grow Rich), you have all of the ingredients for success. As you have already shown much wisdom, we know success is not only finance but in all areas of life. The very best to you Soni! I cannot wait to read the Hub that is your victory Hub, of owning your property in full.

The Best of Luck and strength to you!


fastfreta profile image

fastfreta 5 years ago from Southern California

Thanks soni2006 for the encouragement. I'm going to try a little harder writing articles for money this year. By the way congrats on your success so far.


Chin chin profile image

Chin chin 5 years ago from Philippines

Hi, Soni. Thanks for sharing your story. It's stories like this that inspires me to stay and write here in HubPages. More success to you.


Simone Smith profile image

Simone Smith 5 years ago from San Francisco

Wow, this is SO COOL, soni2006!! I'm so glad that HubPages has been so useful for you! How inspiring indeed!


ysdata profile image

ysdata 5 years ago from Dover, Delaware

We all can do the same thing, here in the U.S. What soni2006 is doing is called a CD-Ladder here in the U.S. I hope we all are learning some new money making methods from the "Money Growing Hubs".


soni2006 profile image

soni2006 5 years ago from New Delhi, India Author

Thank you so much Rahul, Madurai, jobister, LillyGrillzit, fastfretta, Chin Chin, Simone, and ysdata for sharing your thoughts on this hub.

As I have been at hubpages for three years now, there are three things that I want to share with our new hubbers:

1. Never lose hope - don't think that you will never earn at hubpages, you will earn but it will take time in the starting. You just need to have patience.

2. Always set goals for yourself, that if I will write one hub a day than I will achieve this much earnings, not able to do in first month, try it next month, then next. When you have accomplished your goal, set next goal, write 40 hubs in 30 days, then give it time.

3. Use your hubpages earnings wisely. This is a very personal thing but still I would like to say that.

You do the above and success will be on your way.


TopUniverse 5 years ago

Soni2006, You have a very good plan to pay off your debt by utilizing the hubpages earnings. All the best to achieve your goal in short time.


SweetMarie83 profile image

SweetMarie83 5 years ago from Ontario, Canada

This is so inspiring to me...I've been getting kind of discouraged because my AdSense earnings are so low, but I'm just starting out and everything I read says keep working at it, it'll eventually pay off. It's so nice to read a real-life example of not only how it's paying off, but how it's helping YOU pay off debts. Thanks for sharing this with us and best of luck to you!


sherrylou57 profile image

sherrylou57 5 years ago from Riverside

I am glad that you are making the money, I have been here for more than a year and I am getting discourage because, I have only made 8 dollars.


Andrew0208 profile image

Andrew0208 5 years ago from Zion

@this is quite inspiring; patience and learning the rope truly count with making money online! So glad to announce that my adsense earnings of which the majority came from my hubs paid my 2011 house rent in Lagos, Nigeria on the 30th December 2010.

Kudos to HubPages Team and Google Adsense Program. I've set some achievable goals as well. I thank God for His grace.


LucasP profile image

LucasP 5 years ago from Melbourne, Australia

Good work Soni, fantastic to see you're achieving your goals.

However, I need to add, you refer to the debt on your house as "bad debt". I'd like to clarify what is bad debt really is.

Things such as car loans, boat loans, personal loans taken out for things like holidays and gifts, credit card debt. The reason being, there is no way, except if they are for business purposes, that any of these things will generate you money.

Take your 2 bedroom for example. You've purchased for 16 lakh and had a loan for approx 12 lakhs. So I assume you had 4 lakh in deposit? If your property is worth 45 lakh like you say, you've basically turned that 4 lakh into 33 lakh when you repay the 12 lakh loan back to the bank. When you work out the percentages, your 4 lakh has grown about 700% or about 140% per year. Now tell me which bank will pay you that sort of interest?

Well done anyway, Real Estate is the best way of increasing your personal wealth.


Pamela99 profile image

Pamela99 5 years ago from United States

What a great success story! I think setting goals is the important key as then you have a plan to follow to reach that goal. I enjoyed this hub very much.


soni2006 profile image

soni2006 5 years ago from New Delhi, India Author

Thank you so much Pamela for reading this hub in such a detail. I am happy that everyone has enjoyed this hub.


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HoneyBB profile image

HoneyBB 4 years ago from Illinois

At my age, I thought I would never be able to purchase a home but your hub here just gave me hope! Great hub! Thanks for sharing....I better get busy hubbing so I can save enough for a down payment.

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