In Budget Roundups, Money

September 2020: Income Budget Roundup

THE INCOME = $4469.13

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.)

Day Job: $0

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

Side Income: $4469.13

General September Musings for Side Income

September was a rough and good month for me. Rough personally, I finally tied up a few loose ends, so to speak, save for one, and as a result, I stress shopped, but that’s in the spending post tomorrow.

For side income, I honestly didn’t do much, or try very hard. After losing my Instagram @saverspender, I sort of lost steam and I still haven’t found any groove back.

Honestly.

And since I already hit my 2020 goal I originally set for $50K in side income, I am not going to kill myself trying to hit any kind of other income goals.

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: $1373.17

Advertising: $1050.06

Affiliate: $323.11

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: $340.70

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: $162.75

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.

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.

I will start posting my shopping hauls every month 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 = $190.46

It covers half of my condo fees now, as the interest rates have just been dropping across the high interest banks.

6. Bank Promotions = $0

I signed up for the CIBC account but I haven’t received my card or anything. I am not even sure what to do.

7. Cashback = $0

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: $993.03

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 = $785

I picked up a cheque from a consignment shop where I dropped off some items. I sold this Gucci bag because it is just simply too lady for me. It’s too… classic. Anyway, I did make money off it because I paid $500 for it, and I made more off the resale.

It pays to buy, classic nice items.

10. Lending = $608.40

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 have had almost $1000 in cash just sitting there because small businesses are not really looking for funding any more. So … I have withdrawn that in cash, and will just use my earnings of what is in there, to reinvest back into the businesses.

In the meantime, I withdrew the $1000 to put it in regular investing.


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

11. Surveys = $0

I don’t do it as often, no conference calls!!!!

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 = $15.62

I got a credit back from Amazon for delivering the items late.

INCOME GOALS FOR THE NEXT MONTH

None. I am enjoying 2020.

This is what I have earned this year to date in total (A good chunk was working my day job from January to March):

…and here’s what it has been like since 2013. I’m pretty proud of hitting this $50K milestone. <3

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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