In Budget Roundups, Money

August 2020: Income Budget Roundup

THE INCOME = $5604.97

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 June, it was World Wildlife Foundation. For August it will be a new charity.

Day Job: $0

For now, not working or making any money at my day job.

Side Income: $5604.97

General August Musings for Side Income

Running out of steam. Let’s count all the ways this month had roadblocks for me:

  • A troll reported my Instagram @saverspender content as containing sexual X-rated posts, so my 18.5K follower account @saverspender got suspended while I wait for Instagram to review my account
  • Facebook is also updating to a new layout, and now I cannot log into my Facebook Page directly on the desktop, only via the app. I’m beyond frustrated.
  • There’s no distance learning for French schooling in Québec like in Ontario, so as a result, we had to spend the month filling out homeschooling application
  • Since I need to teach him in English, citing Bill 101, I need to apply for an English certificate to be able to homeschool him in English, or else I need to do it in French. This entails obtaining school records from when I went to elementary school in Ontario, and I need to prove at least 5 years of schooling in 100% English to obtain this certificate.
  • I’m tired.

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.

My major sort of steady income streams are:

  1. Blog (Advertising)
  2. Blog (Affiliate)
  3. Career & Money Coaching
  4. Blog (Books)
  5. Dividends
  6. Bank Interest
  7. Lending
  8. Resale

The the 5 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 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.

1 and 2 Blog: $1695.62

Advertising: $1180.84

Affiliate: $514.78

Someone is still trying to sabotage my ad revenue

I am still getting ad policy violations that my blog had sexual nudity and pornographic issues, and when I checked the pages, there was nothing. AGAIN. I lose that income when they don’t show the page and I am very annoyed.

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 but you need to have 10K views to join. My referral link for them is here.

3 Money & Career Coaching: $1481.73

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 100% of what you see there as revenue. If you’re interested, it’s $100.

4 Books & Products: $277.43

I’ve written 6 books under my Like A Boss umbrella, and I need to start on that 7th book on how to build side income businesses.

I sell them on Amazon as well.

Starting my YouTube Channel: Posting every Thursday

Please consider subscribing to my Save. Spend. Splurge. YouTube Channel.

It’s a plea! I need 1000 people to be able to get a proper channel name like “savespendsplurge” otherwise it looks like this https://www.youtube.com/channel/UC7tLLw3IajqUQd8ZHnJAs4w rather than something clean and easy to type.

Here is my first video showing the first part of my new closet redo:

My second video is here, talking about construction in designer pieces:

Save. Spend. Splurge. Products sold, include:

https://www.thebudgetingtool.com

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

5. Bank Interest = $599.10

I am now at 1.8% for my money, which isn’t great but it isn’t 0%. It pretty much covers my condo fees for the month, and then some.

6. Bank Promotions = $350

BMO like clockwork, paid out the $350 promotion as promised. I closed the account. Now I am applying for the CIBC Smart Account. You cannot apply for it if you had an account in 2015. I guess I can only do this bank account churning thing every 5-7 years.

MY MOTTO: Money is money.

7. Cashback = $64.25

I don’t spend as much as I used to any more, but I did spend more money last month, so it racked up money for me. 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% cashback on forex (foreign exchange) purchases and 1.5% cashback on everything else.

8. Dividends: $560.81

I sold off a big chunk of investments to capitalize on the capital gains (that was a mouthful), so my dividends have dropped.

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. My last dividend update from May 2020 is here, and this is how I calculate dividend income. Also I am all about the DRIP*! I always reinvest back my dividends into buying more stocks and shares.

*Dividend Reinvestment Program.

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

9. Resale = $0

I haven’t done any. Been too busy / stressed. I put all listings on hold.

10. Lending = $566.03

I am starting back up with putting money into Lending Loop again, reinvesting what I earn back into more loans. I will also likely throw in another $500 every month to build it up.

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

11. Surveys = $10

It’s not big money, but I do it while I am on hold for calls. Lots of ridiculous waiting = boredom.


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

No other “strange” income coming in that was one-off…. not that I get much of this really.

INCOME GOALS FOR THE NEXT MONTH

Hit $50K Side Income Goal: COMPLETED

See this? Hit my goal. $51K is good. 3 more months to go, should be able to add another $15K, so maybe $65K? I originally said $75K as a stretch goal but I may not have the stamina to make it happen.

Still waiting out this year, as I suspect no contracts will happen

The markets are all going wild but still, no contracts. I think all the companies are waiting to see what will happen.

In a way I feel like I am in limbo. I didn’t expect this contract to end the way it did (no one did), and it just feels like I am going to lose two years of my life waiting for things to go back to where they were at the start of the year, you know?

Year to Date: Savings Rate = 84.41%

  • Made: $126,879.07
  • Spent: $19,786.28
  • Saved: $107,092.79

I like saving money. I also like spending it. But I will say my Saver side comes out strongly when I don’t have lots of income coming in to buffer, and I don’t relax on the Spending if I have lots of income.

I spend my money – I spend a lot of it when I want to and enjoy it, but I never, EVER compromise on my savings and future goals or investments because of it. Balance.

MORE NOTES ON WHAT I USE

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 2% … (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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2 Comments

  1. Belle

    Sherry! It’s frugal Fords here! I looked for you everywhere on Instagram, can’t believe your page got deleted. Hope you’re doing okay 💗

    Reply
    1. Sherry of Save. Spend. Splurge.

      Hi! I am “here” on the blog, but my page basically got deleted because some troll reported it as being X-rated. So…. yeah. But I am on another Instagram, waiting for it to fold out – https://www.instagram.com/save.spend.splurge/

      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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Disclosure

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.