In Budget Roundups, Money

April 2020: Income Budget Roundup

THE INCOME = $6898.16

Note: All the graphics you will see below, and charts, were made with TheBudgetingTool.com.

https://www.thebudgetingtool.com

All net proceeds go to charity! (Always and forever.)

This month for April, it was The Canadian Red Cross. For May, it will be a new charity.

Day Job: $0

Was let go last month

I was let go (as were 250+ other consultants) from a massive project, as it got cancelled due to the virus.

So, no more big 5-digit incomes for me.

Side Income: $6898.16

So side income was basically total income.

These are my main income streams for my side hustles (i.e anything that isn’t my day job).

I have been working for a while since 2013 (even earlier) to try and get this to be a more stable, solid replacement for my living expenses so I will never have to sell my investments again to live.


I lived through a horrific time in 2009-2010 when I was stressed AF and had to slowly sell my plunging red investments just to live.

I vowed at that point in time, to never do that to myself again, and started building up a side hustle.

What’s “side income?”

So ANY income is considered a side hustle. I may not necessarily take out all of the money when I make it (e.g. Lending or Dividends get reinvested back in), but I count everything.

Also, any income that was otherwise extra including stuff I’ve won, gift cards, I include all of that as income even if it is “one-off”…

Why so many?

The average millionaire has 7 income streams, and currently I have 12 going on at any given moment, but combine them under categories for instance (e.g. Blog has 3 streams, Bank promos and interest have 2 streams)…

  1. Blog: $3333.37
  2. Bank promotions and interest: $552.37
  3. Cashback: $0
  4. Dividends: $1154.18
  5. Resale: $1584.23
  6. Lending: $230.23
  7. Swagbucks: $10
  8. Other: $33.78

1. Blog: $3333.37

Advertising: $1888.26

Affiliate: $1346.29

Products: $98.82

All of this income is fickle

Honestly, I try not to rely on this. One month, people are buying or using your affiliate link, and another month, crickets.

The key is just to try and get everything up at once, working hard to make them all viable sources of income so that when one lessens, another can pick up

Working on a new product offering for 2020

I am working on a new product which I am hoping to launch in a month or two – honestly, this was something I wasn’t considering of doing, but then as I talked to more people, I realized there was a need.

More to come!

How do I make money off the blog?

http://www.monumetric.com/referral.php?refid=2025

I am mainly with Monumetric, an ad network and they give a pretty decent rate of pay, on par or better than other networks. My referral link for them is here.

What do I use to manage my blogging / social media?

I am only active on 3 main platforms because I cannot handle more than that alone:

The ONLY thing I pay for in terms of social media management, aside from webhosting fees etc, is $15 a month for Tailwind Plus – a social media manager. This service has saved my life for social media management and without it, I couldn’t do my day job, my personal life, my blogging life AND social media life / postings. If you use my referral link, you can try out one month of Tailwind Plus for free.

Save. Spend. Splurge. Products sold, include:

https://www.savespendsplurge.com/products

2. Bank Promos / Interest = $552.37

Finally got that $350 bank bonus

The good news is that I FINALLY GOT THE $350 bonus from ScotiaBank I had been hounding them for since.. February?

Turns out, the payment I made to my investments, was not considered a proper “debit” because it looked like a bank-to-bank transfer. *eye roll*

I have another bank promotion in the works with Bank of Montreal that ends this month (May 31st 2020) to snag another $300 by July.

I obviously shut down all accounts after I snag my bonus. Even with all the hassle, getting $350 for putting down $5000, is a nice fat little return over 2.74%.

Even if I calculate getting $300 by July for tying up $4000 of my money, that’s a return of 7.5% give or take, and is better than 2.74%.

Tangerine still paying out 2.74% until end of June for me

Even though the banks all dropped their high interest savings rates, I still snagged the Tangerine promotion until end of June to have 2.74% on my money. Not too shabby. After that promotion is over, then I will switch over to the highest bank at the moment.

I hear they have a better promotion of 2.8% until end of August for some who came after.

I use discount brokerage Questrade for all my RRSP, TFSA, Margin and RESP accounts:

3. Cashback = $0

I earned nothing from credit cashbacks this month because I didn’t really spend any money. This is both good and bad. I saved more than I spent, basically. Rakuten also only pays out every few months or so, so I expect to see about $40 coming my way soon. I can’t even believe it took me this long to trust/believe in this sites, but I use:

Money is money. I also use credit cards to get cashback, and my main card is the Rogers World Elite Mastercard with 3% cashback on forex (foreign exchange) purchases and 1.5% cashback on everything else.

4. Dividends: $1154.18

This month, over $1000 again. YES!!!! That basically (alone), if I were to stop reinvesting the money, covers my basic living expenses for a barebones budget.

For my 2020 Dividend Income Year to date:

This is my original mini dividend project details and my dividend short list of stocks I was looking at to buy for Canada and the U.S.  Here are my goals for dividends for 2020.

Also I am all about the DRIP*! I always reinvest back my dividends into buying more stocks and shares.

*Dividend Reinvestment Program.

5. Resale = $1584.23

I am selling items off from my wardrobe using Poshmark:

I have been listing more, selling more. <3

6. Lending = $230.23

I am currently doing private lending via a website called Lending Loop:

I have temporarily stopped investing into more small business loans and started taking the cash out instead to buy individual stocks for dividend yield. So really, I am still investing the money and not spending it, but redirecting it into snapping up individual stocks at a lower price instead.

7. Swagbucks = $10

I managed to squeak out $10 because I was on the phone waiting on these interminably long call queues to talk to the bank (basically to hassle them for my $350 promotional payout).


I haven’t focused on here because I have been busy elsewhere (remember? new SSS product offering for 2020?) and I also had a recent week where I lost my eyesight for a day and slept for about 4 days morning, night, and throughout the night as well. It was rough.

  • Swagbucks: Use my referral link to get 300 Swagbucks but only once you earn another 300 Swagbucks doing surveys etc within the first month. You need only 750 swagbucks to redeem it for $10 from Paypal. I made about $60 a month on average clicking on surveys while on conference calls, etc.

INCOME GOALS FOR THE NEXT MONTH

This is my total income year to date for March: $99,159.12

I am almost at $100K!

It is also kind of interesting to see the first 3 months with this solid dark green block of my “day job”, go down to zero for April, and the side incomes to take more of a front stage in my graphs.

I can live off my side incomes

Actual cash in my pocket from:

  • Blog
  • Bank Interest/Promotions
  • Cashback
  • Resale
  • Swagbucks
  • Other

Goal: $150K in TOTAL income and ~$50K in SIDE income

I will definitely be at $100K by May, but my soft goal for this year is to try and hit $150K in income.

My original goal was $300K until I got fired.

Let’s see if I can rock out this side income to make it a solid year!

This didn’t happen overnight..!

I started in 2012, but only have data going back to 2013, when I had vowed I’d never be reliant on my day job again.

This is is my growth since then, and I am confident I will surpass 2019 numbers.

 

MORE NOTES ON WHAT I USE

If you are interested, my money is parked here:

  • Tangerine: Currently on promotion at 2.74% !!! Use my Orange key { 32726976S1 } for free money (You get $50 once you deposit $250; and I get $50 too).
  • EQ Bank: Now at 2% … (I have thrown LBC Digital off the cliff after they lost my credit card payment last month)

…credit card extra rewards cashback savings here:

..and invested here:

…and I list my things for sale here:

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Sherry of Save. Spend. Splurge.

Am my own Sugar Daddy. Am a millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using TheBudgetingTool.com. I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I have 11 side incomes that are on track in 2020 to make me $50K - $75K. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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12 Comments

  1. Paula

    How did you fix the issue with Scotia Bank, I have been waiting since February and have already contacted the office of the president. I basically did the same as you for the bonus offer.

    Reply
    1. Sherry of Save. Spend. Splurge.

      Call your local branch closest to you, ask to speak to an advisor who is there instead of going through the general hotline, tell them you are still waiting for your bloody bonus, and they will follow up. Likely you had the same issue as me. They will look into it, verify & raise it as a ticket to give you the bonus.

      Reply
      1. Paula

        Thanks for the tip, will do that!

        Reply
        1. Sherry of Save. Spend. Splurge.

          Let me know if it works for you too.

          Reply
          1. Paula

            I was going to call them today, but I got a reply from the Office of the president and got my bonus… LOL
            But I should have taken your path first, would have been faster.
            Thanks!

          2. Sherry of Save. Spend. Splurge.

            FINALLY. I can’t believe how long it took to get all that. I definitely shut down my accounts right after.

  2. Shonny

    I love reading these posts! Seems like the blog has been doing great over the last months 🙂

    Reply
    1. Sherry of Save. Spend. Splurge.

      So far, not bad. I could do better I think which is what I am going to focus on this year.

      Reply
  3. Noob

    Have you noticed an increase in defaults at all on lending loop?

    Reply
    1. Sherry of Save. Spend. Splurge.

      Yes I have. I have noticed about two loans a month going into default and being written off. This is to be expected in investing…

      Reply
      1. Noob

        Does “written off” mean that you can claim as a capital loss?

        Reply
        1. Sherry of Save. Spend. Splurge.

          Yes – I fully plan on claiming it as a capital loss of investment.

          Reply

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In a nutshell…

Save. Spend. Splurge.
[ wealth. style. minimalism. ]

——

MOST DEBT: cleared $60K in 18 months

MONEY: Hit $1M personal net worth At 36

NEW GOAL: $1M in invested assets

FAVOURITE DAY: payday

HATES: being late & lazy people

SOCIAL: Instagram @saverspender

DRINKS: homemade matcha lattes

SLEEPS: on a 100% cotton U.S.-made futon

WRITES: Books (also available on Amazon).

BEAUTY: swears by Paula’s Choice

——

…but you can read more about me , browse my index of posts, or get in touch with me, talk to me directly on Instagram, and of course, ask me anything here.

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Save. Spend. Splurge. uses affiliate links from Shopstyle, and Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com or ShopStyle. In addition to these, any referrals on the page will result in revenue if used such as BlueHost.

In English: If you click on a link, I could get a small commission, typically a few cents. And if you use a referral code, I could get anywhere from $10 – $70 for it. Thank you for your kind support!

Also, I am not a professional investment advisor or money manager by any means.

I am just a woman who loves money, talking about money, and making money.

All opinions expressed on this blog are personal and for entertainment value. Take them with a grain of salt and always consult a professional when in doubt.