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. January was another great month for making extra income from dividends and hustling.
Passive income number is the golden number to always pay attention to!
Extra Side Hustle Income Report $420
I made an extra $420 in April 2023. Here are the income and referral sources:
- IT Learn and Earn: $180
- Brim Financial Referral: $60
- Neo Financial Referral: $60
- Tangerine Money Mastercard Referral: $50
- Nesto Mortgage (Lead): $50
Related: Complete Tangerine Credit Card Review, Is Tangerine Mastercard Good?
I love Brim Financial and used it recently in South America when for daily purchases to avoid paying foreign exchange fees. I also get 1% cashback for spending and access to free Global WiFi.
Refer your family and friends to Neo and earn up to $35.
Related: A Complete Neo Financial Credit Card Review
Liquid Networth Update
As I mentioned, I am not going to calculate my liquid networth every month but I will do so whenever I find the time to put up all the accounts together and get the total balance.
I ended 2022, with a $371,082.79 balance so will see what happens in 2023.
Dividends & Savings Accounts Income
- April 2020: $0.00
- April 2021: $78.21
- April 2022: $782.35
- April 2023: $859.68
| Month | Dividends | HISA & GIC | Cryptocurrency | Total |
| 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 |
| Nov 2022 | $451.03 | $65.00 | $879.64 | $1,395.67 |
| Dec 2022 | $1,034.87 | $65.00 | $68.22 | $1,168.36 |
| Jan 2023 | $1,383.58 | $334.17 | $65.00 | $1,782.75 |
| Feb 2023 | $635.71 | $410.05 | $66.25 | $1,112.01 |
| Mar 2023 | $897.38 | $532.24 | $65.00 | $1,429.62 |
| Apr 2023 | $859.68 | $415.40 | $65.00 | $1,340.08 |
I received a total of $859.68 from dividends while $65.00 came from my tiny Crypto portfolio. My savings account generated $415.40 in interests.
The total $1,340.08 in passive income covers our monthly grocery and some bills. Isn’t that awesome? I like to think of passive income as a supplementary income which makes some expenses feel less painful (Aka free).
The dividend earning in April 2023 is a 10% growth in comparison with April 2022 earnings which is amazing to say the least.
Below is the list of what companies paid me since July 2022 including April 2023. The winners of April are $CM, $TRP, and $BNS.
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, Dividends, and Passive Income Update Summary
To summarize, I had $1,760.08 income from all active and passive passive sources.
My $1,432 average passive income was higher than my $1200 monthly 2023 goal 🤑
Finally, all my recommendations can be found under my referral page. Thank you for reading and let me know if you have any questions or feedbacks.
Even with a short few yrs… not bad.
My thoughts:
Too many stocks for 350k account! Buying Can stocks only? Crypto seems only a fun side? Reevaluate?
Dividends.. where are Can Banks? Td, Royal, Bk Montreal? One or two …Oil/Gas/ pipeline?
Dollar coast averaging is a winner…. U plant the foundation in your 30’s …u dripp them forever. Enbridge and banks has been a good dripp for me… but u choose.
U will smile when you’re 55-60 that u had the wisdom to buy,dripp .. never touch.
( I did it with Apple and Microsoft …living in US at time. Bought and dripp for ever. Now
Hi Bob.
Thank you for your valuable insight and feedback. I agree about the number and I am working on cutting. I had more so be proud that I am down to 50 now.
I own all the banks indeed but I am just showing the ones which paid during May and interesting I just double checked and seems I missed including them. Well the good news is that my number will be higher now and less disappointment. Yes, I do have ENB and TRP and PPL and CNQ as well.
For US, I like TLF but I will sell HBF and also HIG as they are purely income oriented with no growth at all.
Thanks again.