December 2014 Passive Income and Expenses

December Passive Income and Expenses

Expense	Cost
Groceries	$280.26
*Rent	$250
Student Loan	$50
*Utility Gas	$81.44
General Merchandise	$259.88
Car fuel	$182.16
Restaurants	$64.20
Auto Insurance	$108
Brazilian Jiu-Jitsu	$90
Phone Service	$42.50
Gifts	$578.35
*Dish	$39
*Cable Internet	$37
Post Office	$39.49
*Electric	$47.63
Car Repairs	$7.43
Liquor	$64.23
Entertainment	$150.50
Total	$2372.07

*These are expenses that are split between my significant other and I.

Last month my passive income was much better than I expected. The passive income made up for the heavy spending this month. I am hoping that the passive income will keep increasing every month. My intentions are to keep a frugal mindset for the year of 2015. I have already looked into cutting a few expenses which will be explained in next month’s review. Now let’s take a look at the passive income for December 2014.

Passive Income	Earnings
Target (TGT)	$5.76
American Realty Capital Properties (ARCP)	$3.05
Johnson & Johnson (JNJ)	$4.93
ConAgra (CAG)	$4.53
Starbucks (SBUX)	$0.86
Anheuser Busch (BUD)	$0.40
Dunkin (DNKN)	$2.26
Unilever	$7.72
Microsoft	$0.71
Mattel (MAT)	$8.55
Hershey’s	$2.54
Coca-Cola (KO)	$8.47
Time Warner (TWX)	$1.82
Kellogg’s (K)	$4.99
McDonalds (MCD)	$9.83
VFC CORP. (VFC)	$1.20
CD Interest	$0.49
Savings Interest	$2.41
Credit Card Cash Back	$20.26
Total Passive Income	$90.78

 

 

 

 

 

 

 

 

 

December was a great month in terms of passive income. This will essentially make me financially independent from the rat race.

Now let’s take a look at all of the income sources:

Income Sources	Amount
R.C. Job (Net)	$1625.76
I.T. Job (Net)	$573.36
Ebay	$70.11
Dividends	$67.62
Interest	$2.90
CC Cash Back	$20.26
401K	$120.48
Total	$2480.49
Savings Amount	$108.42
Savings Rate	4.38%

The cash back rewards are passive income because I don’t have to work extra and I am not holding a balance on my credit card. Therefore each month I am getting free money that I can receive in a paycheck or put it towards my current balance. I was able to save 4.38% of my total income for the month which is quite horrible, but it’s much better than being in the negative for the month. I would love to get to 50% at some point but this is going to require some more discipline and patience. Now let’s see how much of my expenses were covered by the passive income.

This is the most exciting part of this post because I can see how much of my expenses were covered by my passive income. This month 3.8% of my expenses were covered by the passive income from dividends, interest, and credit card rewards. I would love to add rental income to that equation someday but for now I am happy with my progress.