💵 Oct 2022 🤑 A Record $3587 Hustle & Passive Income Growth

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.

Did you check this amazing post? It is the most inspiring blog post ever!

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!

Oct 2022 Passive Income (Savings Accounts & Dividends) Was $3,587
Oct 2022 Passive Income (Savings Accounts & Dividends) Was $3,587

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.

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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.

ServiceNotesEarned Amount
Newton ExchangeJoin Newton, earn $25$25
Brim FinancialJoin Brim Financial$20
Learn & Earn ITAmazon Gift Card$161
Neo FinancialGet a free Neo Credit Card, earn $50$10
Electronic SaleProfit 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

MonthDividendsHISA & GIC CryptocurrencyTotal
Oct 2021$608.39$727.09$451.00$1786.48
Nov 2021$211.25$217.82$680.31$1109.38
Dec 2021$880.08$238.15$871.75$1989.98
Jan 2022$1,065.49$407.97$622.00$2095.46
Feb 2022$284.85$200.236$68.43$1,153.51‬
Mar 2022$541.57$212.00$823.32$1,576.89
Apr 2022$782.35$58.00$901.40$1,741.75
May 2022$490.06$63.00$926.00$1479.06
June 2022$981.71$60.86$1,078.00$2,120.58
July 2022$1,240.66$62.76$904.00$2,207.42
Aug 2022$385.18$64.00$844.00$1,293.18
Sept 2022$966.33$65.00$1,102.72$2,134.05
Oct 2022$1,080.51$718.00$998.00$2,796.51
Monthly Income Report Table

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.

All Dividend Payers
All Dividend Payers

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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