Hello Friends and welcome back to another Liquid Net Worth and Passive Income update via my Personal Finance Canada blog! I hope you are enjoying my monthly reports since February 2021.
May was another great month for making extra income from dividends and hustling around despite the markets crash. Please note that all the numbers were recorded on May 31.
Passive income number is the golden number to always pay attention to!
Extra Side Hustle Income Report $875
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 May 2022 in side hustle excluding other sources like dividends and savings accounts earnings.
|AQRU||Crypto Savings Referrals||$300|
|Brim Financial||Join Brim Financial||$200|
|Hodlnaut Exchange||Join Hodlnaut, earn $25||$95|
|Learn & Earn IT||Amazon Gift Card||$230|
|Neo Financial||Get a free Neo Credit Card, earn $50||$50|
I love Brim Financial and use it when abroad for credit card payments with no Foreign Exchange fees. I used it in many countries successfully. It also gave me access to free Global WiFi. Best part is that they pay me 500 ($5.00) points every year on my birthday.
Non-Chequing Accounts As of May 31, 2022
|Questrade||Robo||RESP||$51,067||Girls A & B|
Current Investment Portfolio & an Awful -8.62% MoM Liquid Net Worth Decline
My liquid net worth decreased by $36,736 in May 2022. I realize this is an awful decline which is just getting worse. However, we shouldn’t forget the big picture. Investments comes with its cycles. As an investor, I am happy to use the decline in the market to accumulate more funds.
The current market conditions help me to get discounted stocks and ETFs I’d love to hold for a very long time. Time in the market along dollar-cost averaging is an investor’s best tools.
Dividends & Savings Accounts Income
|Month||Dividends||HISA & GIC||Cryptocurrency||Total|
For the dividends, I received $326.68 in my direct investments while $104.02 was received in Mrs. Dreamer’s TFSA, and $62.36 in my kids’ RESP.
Despite the meltdown in the crypto market, my tiny crypto portfolio generated $926 in passive income last month. I know what you are thinking so I won’t get into details.
Liquid Net Worth and Extra Income Update Summary
To summarize, I made $875 in side hustle income in May 2022. I also had $1,479.06 income from passive sources which brings my total May 2022 extra income to $2,354.06 CAD which covers almost all our regular monthly expenses as a family of four.
In 2022, my total extra income has been $12,571 so far with $8,046 of it being totally passive which is an average $1,609 monthly.
My passive income is 34% higher than my $1200 monthly 2022 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.