In Budget Roundups, Money

February 2020: Income Budget Roundup

THE INCOME = $29,902.83

Day Job: $23,914.80

Dropped down to part-time hours

I recently dropped down to part-time so now I work 20 hours a week.

I originally wanted 16 hours but they said no….

I don’t go to the office more than 2 days a week (another new perk I created for myself), and I have way more free time to waste on Instagram.

JUST KIDDING.

Seriously though, I have never been happier. My work life is so flexible now and I think this is the ideal situation.

Side Income: $5988.03

These are my main income streams for my side hustles (i.e anything that isn’t my day job). Basically ANYTHING that is income, even bank promotions, for me, is considered a side hustle, even though it is one-off and unlikely to repeat.

The average millionaire has 7 income streams, and currently I have 11 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)…

I am working on getting 10, but we will see.


  1. Blog: $3993.62
  2. Bank promotions and interest: $327.76
  3. Cashback: $112.43
  4. Dividends: $621.83
  5. Resale: $75.08
  6. Lending: $857.31
  7. Swagbucks: $74.47

1. Blog: $3993.62

Advertising: $1107.02

Affiliate: $2860.06

Products: $26.54

WHOA, Affiliate jumped up like crazy

I have never made this much in my life. I suspect this is just a one-time thing, and not likely to repeat. *shrug* I’ll take it, but in my mind, my blog still only makes in general, $1000 or so a month.

Whatever it is, I appreciate all the extra traffic coming to my blog. I have been working hard at it, and I am finally seeing the months of work pay off, plus thank you to all my Instagram followers who have made the difficult transition over to see what’s up. Trying to get people to leave from one platform to another is …… an uphill battle with irons on your feet.

How do I make money off the blog?

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

I am 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 = $327.76

The passive income I get from bank interest is 2.8% on my cash savings, and I use:

  • LBC Digital: Excellent 2.8% high interest savings account; subject to change

I usually keep a $100,000 – $200,000 buffer in cash for general business & personal operations, but lately with the markets dropping I have taken a risk to raid my coffers to snap up some more investments.

In the past week, I dropped about $60,000 into the market and am keeping a low $30,000 buffer, knowing that I will likely be on this contract AT LEAST until June, so I am breathing easy and trying to control myself from dropping even more money into the market and end up with zero cash to manage basic bills like daycare, etc.

I do not want to sell any investments to live, so I have to be careful to keep that fine balance going.

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

I am still waiting on a bank promotion I signed up for LAST YEAR IN NOVEMBER to pay out. I think ScotiaBank is one of the worst banks to pay out for these things, and TD being the best.

I am unlikely to ever want to do business with ScotiaBank again based on this sneaky kind of “let’s see how long we can make the customer wait for their promotional reward”, nonsense. Once I get my money, my bank account is closing (I will have to pay a $20 fee as I recall), and I am O-U-T.

3. Cashback = $112.43

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 4% cashback on forex (foreign exchange) purchases and 1.75% cashback on everything else.

For me, right now, it is THE perfect credit card balance and it has NO ANNUAL FEE. Be still my heart. <3

4. Dividends: $621.83

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.

I already hit my $12K dividend income goal for the year

I actually reached my 2020 goals for dividends this month alone, due to my dropping $60K into the market. I am now at $15,000 income a year, give or take. I may revise this to go up to $20K a year as a goal, which means I need another $116K invested give or take.

I will need to also be extended past June to make this official, so until I get the papers to say that I am staying on, I will not be revising my goal until then.

I will be listing next week, all the dividend stocks I am currently invested in, and which ones I am still looking at (a new revised list, if you will).

Looking back at a year ago on Dividends…

Last year this month, I brought in $308.14 in income, and this month I doubled it.

February typically is not a great month for dividends because not many stocks pay out during the in-between quarterly months. I always see big bumps in January, March, June, etc.

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

*Dividend Reinvestment Program.

5. Resale = $75.08

I am selling items off from my wardrobe using Poshmark:

I haven’t been concentrating on this, this month. I find that it is a hit and miss. Sometimes I sell things, sometimes I don’t. I sort of just let things sit there, I don’t stress about it and if it goes it goes.

I am planning in May or so, to go through what I have there, and cull the listings. Anything that hasn’t sold by then, depending on what it is, I will donate back to a thrift store, and delete the Poshmark listing so that I have less to look at and manage.

It surprisingly takes a bit of work and organization to go through, organize all the listings and make sure they are “shared” each day or time — I hate this social aspect of this platform but I must say, I have sold more on here than on eBay, and based on that alone, I am willing to put in the extra bit of effort to get it done.

6. Lending = $857.31

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

This one is a small alternative side income I am starting. I am not 100% focused on it, because my main bread and butter for now, will be mutual funds (50%) and dividend-generating stocks so I don’t touch the capital but still get money (50%).


Over time (no rush), I am planning on building this up to be my third income stream, at about $100K in capital invested, and constantly being reinvested to lend out to more small businesses.

Right now I have about $16K invested in this, and it takes TIME for the money to get loaned out. I may have $16,000 but I have about $15,7000 actually on loan and $300-ish in cash.

Once I see the cash dip below $50, then I usually slide in another $500 or so, to keep the wheels churning. Everything I get (like the income this month, which excludes the service charge already), gets reinvested back into the platform to lend out to more/new businesses.

It is a good side income, and even if people default on a few loans, in the overall grand scheme of things, I am still making more than 7% on my money. Plus, I am helping small businesses which is also nice.

7. Swagbucks = $74.47

New side income. I forgot about this until I got an email and had an account there. I logged in, did a few (okay a lot) of surveys, and racked up some cash, Paypaled to me.

  • 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.

I only just recently started back on this because I am on ENDLESSLY LONG conference calls and you don’t need a full brain to listen to them. They’ll even call out your name if you zone out on the call, so honestly, I am multi-tasking.

Looking back at a year ago at my side income…

INCOME GOALS FOR THE NEXT MONTH

I set a soft, but kind of serious goal of making $300K in income this year.

So far, so good. It will all depend on if I get extended at the end of summer (chances are 90% that I will be), and how things go in the side income department as I need to hit $40K this year to make it all match up so to speak.

Next month:

MORE NOTES ON WHAT I USE

If you are interested, my money is parked here:

  • LBC Digital: Excellent 3.3% high interest savings account; subject to change
  • EQ Bank: Good, general 2.45% high interest savings account; subject to change
  • Tangerine: Use my Orange key { 32726976S1 } for free money (You get $50 once you deposit $250; and I get $50 too)

…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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6 Comments

  1. GYM

    Wow, $300/hour you are living the dream!! That’s amazing 20 hours a week part time. I’ll be heading back to work soon with around 20 hours a week, I hope it is manageable.

    Reply
    1. Sherry of Save. Spend. Splurge.

      20 hours is perfect for me. Plenty of time to do what I want.

      Reply
  2. Wallies

    You get paid about $300/hr to do exactly what?

    Reply
    1. Sherry of Save. Spend. Splurge.

      I am a consultant in STEM. I don’t say anything more because I am Anonymous.

      Reply
  3. Kat

    This is awesome (I know I just said this but I’m so impressed by your strategy and openness too). Love this post!

    Reply
    1. Sherry of Save. Spend. Splurge.

      Thank you. I post monthly, and next week I will be posting my net worth & investments….

      Reply

Leave a Reply

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!

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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.