In Budget Roundups, Money

April 2021: Income Budget Roundup

THE INCOME = $25,453.71

All of the images below have been created with The Wealth Tracking & Budgeting Tool available for sale on Etsy, or at TheBudgetingTool.com where all proceeds go to charity

This is a sheet you buy ONCE and you can re-use for future years, plus it lets you store all of your historical data from previous years (super handy).

Day Job: $21,845.25

It’s clear my day job is what makes me the most money for the least amount of hours worked, plus I do find it rewarding and fun (most days).

I work 40 hours a week as a STEM consultant (Science, Technology, Engineering, Math). I don’t say what I do, my industry, etc. I already reveal so much, plus have signed NDAs (Non-Disclosure Agreements) that I do not feel the need to specify further, nor do I personally want to.

If I work overtime, I charge for it.

So I truly work 40 hours a week.

Some weeks, I work more than 40 hours and then I work less the following week. On average like all freelancers, we have a rough idea of our hours and if we are overworking or not versus what we have been paid.

I will do extra hours if I have to and then take back my hours the following week, but I always just charge a flat 40 hours a week to avoid issues with billing (clients do not enjoy paying more).

Side Income: $3608.46

General April Musings for Side Incomes

It was really rough this month, personally. It’s not my place to talk about it, but it wasn’t great for half of the month. It’s evidenced by how little I read this month (17 books, review on what I read coming up this week or so).

I did however, manage to post a YouTube video or two to the channel, but I think I will scale back to just doing one a month for my “What I bought” posts, as they seem helpful in “seeing” the piece rather than a picture of it.

The extra video I did (it’s LONG), is the one on my Vintage Chanel Flap:

Scaling Back

Not focusing on side incomes. I needed that extra time back to be able to have my own life now that I have a full-time job, homeschooling with Little Bun, and just personal issues that have to be covered. So I am scaling back on social media and trying not to be as “present” on there, instead, taking the time to read books instead.

As for the coaching. I am doing via email only, because I cannot handle calls (I am in constant conference / impromptu calls all day) and my family, then career comes first over other side incomes.

How I did for April using the side income only: $3608.46 received in total

Any side income, no day job income included, basically, means I was short $214.58 this month, which .. I consider to be excellent considering I purchased a lot this month. Some for the home and Little Bun, a lot for me in the Entertainment (upcycling) and Wardrobe categories.

I consider this a success!

Mini Challenge: Actual cash $CAD for bills

I have also started (for my own purposes), separating out what I get in actual $CAD in my pocket to use on bills that month, and the rest either in $USD which I invest as $USD without any currency conversion loss to $CAD and then back to $USD again using this method.

This means, as I get paid mostly in $USD for my side incomes, I keep it all aside as investing 100% because I do not want to convert it into $CAD to pay bills (not that I have to).

  • INCLUDE: Any and all actual $CAD received from side incomes
  • DO NOT INCLUDE: Dividends, Lending and $USD received

How I did for April using the actual $CAD received: $424.07 $CAD received

With the actual $CAD that deposits in my bank account & goes to bills this month, I was short $3398.97 this month if we look at just my side incomes.

In real life, with my career, I am not short anything at all.

1 and 2 Blog: $497.84

Advertising: $300.34

Affiliate: $197.50

I haven’t been pushing either, no mental space to do this. I also have tried to scale BACK on the ads on my page (I set the Ad sliders down to almost nothing), and it is like it is not listening to me…. *sigh*

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 like Google but you need to have a minimum of 10,000 views to join. My referral link for them is here.

3 Money & Career Coaching: $122.59

I am only doing coaching via emails now, I simply don’t have the time for calls any longer as my conference calls are ridiculously long and draining. I track how much time it takes to answer emails and put the balance at the end of each email to show you how much time I have left.

You can read some of the great feedback I got here, and see my rates, and some of my success stories are all listed here.

I also launched my Canadian Investing 101 Course which makes up some of the revenue there. If you’re interested, it’s $100 for the course, and you get 15 minutes as a one-on-one call with me after the presentation.

4 Books & Products: $195.31

I’ve written 6 books under my Like A Boss umbrella, and I finished my seventh book. I sell them on Amazon as well.

SEMI-LATEST BOOK #7 ON NEGOTIATING!!!!!

I finally finished it – my 7th book and this time on negotiating. Again, probably part of the reason why transferring money slipped my money to my accounts to cover bills, but here we are.

Save. Spend. Splurge. Products sold, include:

https://www.thebudgetingtool.com

(All net proceeds from The Wealth Building Tool go to charity)

5. Bank Interest = $20.18

I am keeping a bare minimum buffer of about $3000. That’s all I need to cover basic bills and then some.

6. Bank Promotions = $0

None in the works. Just waiting to tie up the loose ends of closing the CIBC account I opened; their stipulation is to get the $300 I had to keep the account open for a year. I already got the bonus but I have to wait until September to close it out.

7. Cashback = $228.17

Just from credit cards and Rakuten, and I obviously don’t rely on it, but it’s nice to get some money back when you have to buy things anyway.

Other cashback options: Rakuten also only pays out every few months or so:

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

8. Dividends: $2117.54

All of it got reinvested back into buying more stock, so this income, while possible as a side income of cash if I am in need, is not probable as I don’t take it as cash. Hence my challenge of “actual Canadian Cash” as a way to cover bills every month.

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

9. Resale = $0

I don’t have time for this. It’s the taking pictures of the items, it’s the checking to see if it sold, it’s promoting it, it’s having to go to the post office. I am putting this whole thing on hold.

I do however, shop a lot on:

10. Lending = $426.83

Net charged off (meaning principal lost, couldn’t recover more)

  • 2018: $22.18
  • 2019: $72.69
  • 2020: $94.87

I am starting to withdraw the actual cash from this account because my $700-ish balances are just bloody sitting there for obvious reasons:

  • Small businesses are not starting up.
  • Small businesses are just trying to cover their loans.

Things are not going well economically-speaking, so there just aren’t any loans to be made as Lending Loop is restricting who can sign up for a small business loan or not (e.g. no hospitality or food), due to the pandemic. I take that money and immediately reinvest it back into the market in stocks, so it doesn’t count in my $CAD challenge of how I can use the money to cover bills.

11. Surveys = $0

No surveys this month. This month was rough.

How I make money off Swagbucks

I signed up for their email notifications, so they send me emails like: Earn 100 swagbucks in 20 minutes! and I fill those in. I also occasionally find survey sites I like, like Peanut Labs (connected to Swagbucks) and I see what’s there because their payouts are pretty good for the time spent.

  • 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.

12. Other = $0

Nothing weird…

My Year to Date (YTD) Tracking:

Clearly, my main side income is Dividends (thank goodness for passive side incomes), and I reinvest all of it right back into the market, so it is like I made $6000 and put it back into the market, ON TOP of all my other incomes plus day job.

INCOME GOALS FOR THE NEXT MONTH

My income goals this year are roughly:

GOAL #1: $30K in side income

I am already at $17K, so halfway through my goal, with a little over half of the year left to go, which means I will reach at least $30K it seems.

GOAL #2: $300K in total income

I should be on track to hit this. Just barely.

EXTRA NOTES

Story of my Side Incomes

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

Every dollar counts. 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 liveI lived through a horrific, scary no-working 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 side hustles.

What’s “side income” to me?

So ANY income is considered a side hustle. No matter how little.

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 – 11 side incomes and 1 main one.

NOT ALL OF THEM ARE INCOMES THAT HAPPEN EVERY MONTH!

My major sort of steady income streams are:

  1. Blog (Advertising)
  2. Blog (Affiliate)
  3. Blog (Books)
  4. Dividends
  5. Bank Interest
  6. Lending

The rest of them are one-offs, or just things I do every few months or so, like bank promotions where I may get a few hundred dollars every 3 months signing up for things. It’s not huge amounts of money, but it adds up to $600-ish to a few thousand a year.

All of this income can disappear

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.

If you are interested, my money is parked here:

  • Tangerine: Use my Orange key { 32726976S1 } for free money (You get $50 once you deposit $250; and I get $50 too).
  • EQ Bank: Now at 1.5% and my preferred bank… (I refuse to bank with LBC Digital and any of their related banks forever and ever. Read all about it here.)

…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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Posted on March 16, 2017

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