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.
Must Read: The Combined Magic Of Canadian Dividend Income Earnings, Dec 2022
Passive income number is the golden number to always pay attention to!
Extra Side Hustle Income Report $195
Gladly, after a $0 in December side hustle income, I made an extra $195 in January 2023. This income came from my learn and earn partnership which generated $70. I also made $125 from Brim Financial which includes a nice $5 annual birthday gift from Brim.
Related: A Complete Review of Brim Financial Card
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.
Limited Time Offer: Refer your family and friends to Neo and earn $85. Your friends will also earn $35 for getting a Neo card plus $10 for opening a Neo Money (Neo Savings) account.
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 2002, with a $371,082.79 balance so will see what happens in 2023.
Dividends & Savings Accounts Income
- Jan 2020: $0
- Jan 2021: $570.23
- Jan 2022: $1,065.49
- Jan 2023: $1,383.58
|Month||Dividends||HISA & GIC||Cryptocurrency||Total|
I received a total of $1,383.58 from dividends while $65.00 came from my tiny Crypto portfolio. My savings account generated $334.17 in interests.
The total $1,782.75 in passive income is equivalent to making $10.28 hourly as a full-time employee. This amount covers our monthly grocery and all bills. Isn’t that awesome?
The dividend earning is a great 29.85% growth in comparison with Jan 2022 earnings which is amazing to say the least.
Below is the list of who paid me in Jan 2023.
The top 3 payers of Jan 2023 were $CM, $BCE, and $BNS which counted for 17.1% 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, Dividends, and Passive Income Update Summary
To summarize, I had $1,782.75 income from all active and passive passive sources.
My average passive income is 13% 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.