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 $0
I made absolutely nothing from income in May 2023. Here are the income and referral sources that helped me in the last month of April 2023:
- 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
- May 2020: $0.00
- May 2021: $424.12
- May 2022: $1,479.06
- May 2023: $499.25
| Month | Dividends | HISA & GIC | Cryptocurrency | Total |
| 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 |
| May 2023 | $388.55 | $110.70 | $65.00 | $499.25 |
I received a total of $388.55 from dividends while $65.00 came from my tiny Crypto portfolio. My savings account generated $110.70 in interests.
The total $499.25 in passive income covers our 2 weeks grocery shopping. 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 May 2023 is a significant reduction in comparison with May2022 earnings which is amazing to say the least because we decided to cash out my wife’s $96,400 TFSA (we didn’t contribute in 2023) and pay down mortgage payment in our renewal which happened to be May 2023 at 4.99%.
Below is the list of what companies paid me since July 2022 including May 2023.
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 $499.25 income from all active and passive passive sources.
My $1,245 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.