In Budget Roundups, Money

December 2020: Income Budget Roundup

THE INCOME = $22,225.19

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

Day Job: $14,946.75

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

Side Income: $8107.24*

*Not totally 100% accurate because I am putting in dividends I forgot to record in October and November so I can account for it

  • Actual October/November Dividends: $1883.66
  • Actual December Total Side Income: $6223.58

General December Musings for Side Income

Stuff has already started to ‘give’ to make way for my new contract.

My advertising and affiliate incomes are way down, and I have cancelled all new coaching and all podcasts/interviews (unless they can be done by email).

1 and 2 Blog: $1373.17

Advertising: $782.57

Affiliate: $1126.03

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: $64.49

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 for the course, and you get 15 minutes as a one-on-one call with me after the presentation.

4 Books & Products: $284.04

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 but I haven’t yet because… time. I sell them on Amazon as well.

Save. Spend. Splurge. Products sold, include:

https://www.thebudgetingtool.com

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

5. Bank Interest = $109.79

Money is money. This is just my emergency fund, but I have recently drained it to invest it all in the market. I have taken a new tack this year and decided that if I run out of my petty cash ($10K or so), then I will start selling investments to pay bills. This will motivate me to not spend more than I should.

6. Bank Promotions = $0

My CIBC promotion for money is still in progress and won’t be realized until the end of next year (literally, it will be a YEAR to get this money, but $300 is $300…)

7. Cashback = $270.09

One of my credit card hacks (CIBC as well) finally came through (been waiting a year for this one), and it had given 10% back, so I maxed that sucker out. Because I don’t want to spend any money, either I use this card in January for the amount in cash, or more likely, I will call them on the next business day, shut the card down and get a cheque for the amount.

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% cashback on forex (foreign exchange) purchases and 1.5% cashback on everything else.

8. Dividends: $3550.63*

*This is not accurate!

As mentioned above, I realized I forgot to record October and November dividends (DOH!).. and I have retroactively added them in here to have an accurate view of my income for the year.

I forgot to add them because… I forgot. This is clearly a rich person’s problem, and at any rate, all the money gets reinvested back into buying more stocks so it’s why I track it as true side income, but I do not actually use the money or rely on it.

  • Actual October/November Dividends: $1883.66
  • Actual December Dividends: $1666.97

I also did sell off more dividend-paying stocks to transfer them into index mutual funds (cutting my losses on a few for tax harvesting).

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 were 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 = $1350

I resold my YSL Sac de Jour (extra large) because.. it’s too large. Honestly, I should have checked the dimensions for my life before buying it, but it is just too small for work (won’t hold my laptop, for if/when I ever go to the office), and it’s too large for daily errands (man it’s a beast to carry!)

So, I resold it. I “paid” $1600 in free credits, so really, I didn’t lose any money, but gained $1350.

I do shop a lot on:

 

10. Lending = $569.60

I still have over $700 in cash waiting to be lent out, and one loan was written off this month for $50. I have on my list, now that 2020 is over, to recap how much I have lost in principal in loans during this pandemic, plus what I have earned, to calculate my REAL rate of return.

The site obviously says 13% or higher (this is the gross) but I am not interested in having my ego flattered, I want to know real NET return numbers.

11. Surveys = $0

I may have more time for these now that I am working if it weren’t for the fact that it’s all in French which is not my natural language, so I have to concentrate on the words more than in English.

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.

INCOME GOALS FOR THE NEXT MONTH

I hit both of my 2020 goals which was to make $150K in total, and $50K in side income. More on that later in my final 2020 roundup for the year.

MORE 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 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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