Hello Friends and welcome back to another Hustle and Passive Income update via my Personal Finance Canada blog! I hope you are enjoying my monthly reports.
October was another great month for making extra income from dividends and hustling around despite the market craziness. I honestly exceeded my own expectatios.
For those of you who don’t know, I returned from Belize and Guatemala on Oct 2nd but then traveled to Bahamas and Jamaica which were the last 2 Caribbean islands I haven’t been by the end of Oct.
In total, I spent close to $4000 for these trips which I am happy to realize they were pretty much covered with the extra income I made.
I decided to stop reporting my liquid net worth numbers. This is not related to the market meltdown but because it is a very time confusing work which isn’t really benefiting anyone.
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The other problem I have been struggling with is that I have to record the numbers by the end of the month or the first day of the following month which sometimes I don’t have time to do for multiple reasons including traveling or other activities.
However, I think I will provide an update whenever I record or update my own numbers once in a while just so everyone knows what’s happening financially.
Passive income number is the golden number to always pay attention to!
Extra Side Hustle Income Report $791
Frankly, counting the side hustle isn’t an easy job. I made a spreadsheet and record my income through this source but it is a hectic task with money coming from so many resources.
I might miss some stuff while reporting but here comes what I earned in Oct 2022 in side hustle excluding other sources like dividends and savings accounts earnings.
|Newton Exchange||Join Newton, earn $25||$25|
|Brim Financial||Join Brim Financial||$20|
|Learn & Earn IT||Amazon Gift Card||$161|
|Neo Financial||Get a free Neo Credit Card, earn $50||$10|
|Electronic Sale||Profit From Reselling||$575|
I love Brim Financial and use it when abroad for credit card payments to avoid paying foreign exchange fees. I also get 1% cashback for spending and access to free Global WiFi.
Brim works perfectly fine in my recent trip to the UK, Ireland, and Iceland. It also provides free access to a Global WiFi. Best part is that they pay 500 ($5.00) points every year on my birthday.
Non-Chequing Accounts As of Oct 31, 2022
As I mentioned earlier in this post, I missed recording my numbers by the end of the month and reporting today’s numbers doesn’t make sense.
However, I’ll report this anytime I can record the numbers. I wish there was an automatic method to get my balance in every account by the end of the month.
Dividends & Savings Accounts Income
|Month||Dividends||HISA & GIC||Cryptocurrency||Total|
I received a total of $1,080.51 from dividends while $998 came from my tiny Crypto portfolio. I also had one GIC annual payment which fueled the income by another $718.
The total $2,796.51 in passive income is equivalent to making $16.16 hourly as a full-time employee. This amount covered all my recent Jamaica and Bahamas vacation.
This is also another 55% YoY growth which is amazing to say the least.
Below is the list of who paid me in Oct 2022. I cut $TECH from the list but still more clean up is underway.
The top 4 payers for Oct 2022 were $CM, $BNS, $AQN, and $BCE which counted for 25.3% of the total dividends income I received.
I report my purchases whenever happens on my Twitter account. I am not really keeping a detailed track of these purchases as I love dollar-cost averaging while taking advantage of Wealthsimple’s no-fee trading.
Hustle and Passive Income Update Summary
To summarize, I made $791 in side hustle income in Oct 2022. I also had $2,796 income from passive sources which brings my total Oct 2022 extra income to $3,587 CAD which covers the a vacation plus essential monthly bills and grocery as a family of four.
In 2022, my total extra income has been $26,047 with $18,594 of it being totally passive which is an average $1,859 monthly.
My average passive income is 55% higher than my $1200 monthly 2022 goal 🤑
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