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.
August 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 August 31.
Passive income number is the golden number to always pay attention to!
Extra Side Hustle Income Report $240
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 August 2022 in side hustle excluding other sources like dividends and savings accounts earnings.
|Newton Exchange||Join Newton, earn $25||$50|
|Brim Financial||Join Brim Financial||$100|
|Learn & Earn IT||Amazon Gift Card||$20|
|Neo Financial||Get a free Neo Credit Card, earn $50||$60|
|VoIP.MS||Save on Phone Bills||$10 USD|
I love Brim Financial and use it when abroad for credit card payments to avoid paying foreign exchange fees. I also get 1% cashback which is nice to have on a free card.
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 August 31, 2022
|Questrade||Robo||RESP||$49,339||Girls A & B|
Current Investment Portfolio & a 3.27% MoM Liquid Net Worth Decline
My liquid net worth got smashed again by $12,301 MoM after it finally recovered slightly last month. Investment comes with its cycles. As an investor, I am happy to use the declines 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 and dollar-cost averaging are investors’ best tools.
I haven’t added any fresh money to my investment portfolios in the past two months as I have been spending all my salary to pay off my LOC ($2,900) and travel expenses ($11,000).
Dividends & Savings Accounts Income
|Month||Dividends||HISA & GIC||Cryptocurrency||Total|
I received a total of $385.18 from dividends while $844 came from my tiny Crypto portfolio.
The total $1,293.18 in passive income is equivalent to making $7.46 hourly as a full-time employee. This amount covers our London Airbnb plus UK rental car cost.
Below is the list of who paid me in August 2022. I need to do some cleanup on this list. For example, I’d like to cut $TECH and replace it with either $HBF or $LEAD.
Liquid Net Worth and Extra Income Update Summary
To summarize, I made $240 in side hustle income in August 2022. I also had $1,293.18 income from passive sources which brings my total August 2022 extra income to $1,533.99 CAD which covers the essential bills and grocery as a family of four.
In 2022, my total extra income has been $20,087 with $13,667 of it being totally passive which is an average $1,708 monthly.
My average passive income is 42% 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.