Sunday, February 1, 2015

January 2015 Passive Income and Expenses


January Passive Income and Expenses

Expenses
Cost
*Rent
$250
Groceries
$187.50
General Merchandise
$166.05
Car fuel
$122.05
Auto Insurance
$108
Restaurants
$96.05
*Utility Gas
$52.75
Student Loan
$50
Phone Service
$42.50
Post Office
$40.97
*Dish
$39
*Cable Internet
$37
*Electric
$36.39
Liquor
$29.77
Car Repairs
$24.72
Entertainment
$0
Total
$1282.75

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

Expenses were really low this month and I would like to keep it up for the rest of the year. Last month the groceries were the highest expense which led us to shop elsewhere for our groceries. Therefore I was able to cut down our grocery bill just under $100 for the month. I have also cut out Brazilian Jiu-Jitsu and we might be replacing Dish Network for a Roku and Hulu subscription. This would make expenses much lower for the rest of the year. I would be happy to get expenses sitting at $1,200/month which is pretty good.

This month my passive income was a little lower than I expected. This is the first January that I am declaring my passive income so I don’t have anything to compare it to. Now let’s take a look at the passive income for January 2015.

Passive Income
Earnings
General Electric(GE)
$4.87
Baxter (BAX)
$1.41
Bank of Nova Scotia (BNS)
$2.41
Kraft (KRFT)
$8.18
Mondelez (MDLZ)
$0.41
Disney (DIS)
$9.63
Pepsi (PEP)
$1.79
Dr. Pepper/Snapple (DPS)
$1.39
Walmart (WMT)
$3.16
Viacom (VIAB)
$1.95
CD Interest
$0.49
Savings Interest
$1.82
Credit Card Cash Back
$8.00
Total Passive Income
$45.51

 

 

 

 

 

 

 

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

Income Sources
Amount
Analyst Job (Net)
$2186
I.T. Job (Net)
$52.50
Ebay
$215.73
Dividends
$35.20
Interest
$2.24
CC Cash Back
$8.00
Job Lot Refund
$85.76
Amazon Refund
$34.99
Total
$2620.42
Savings Amount
$1337.67
Savings Rate
51.05%

 

My savings rate was awesome this month. My goal is to save at least 37% of my total income annualized for the year. I am starting out way ahead with a 51.05% saving rate this month. A big part of this was because of all the cutting of my expenses this month.

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 51.05% of my total income for the month which is a record for me. 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 3.5% 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. The blue bar didn’t move much higher this month. It would be a milestone to get the passive income to the first line ($200).

I will be declaring all of my buys for the month of January in my next post!

How was your month in terms of passive income?

 

 

 

 

 

22 comments:

  1. Disney and Walmart are stocks I love! Glad to see results from them as well! Keep it up!

    ReplyDelete
    Replies
    1. DivGuy,
      I am also a huge fan od Disney and Walmart and I think they should be a staple in everyone's portfolio. I am hoping to keep adding to both companies in the future in order to collect even bigger dividends.

      Delete
  2. Bummer DIS only pays the dividend once a year.

    ReplyDelete
    Replies
    1. I am hoping that DIS will pay dividends twice a year at some point. Annual dividends take way too long to collect, however I do think DIS will continue to make shareholders happy for years to come. Thanks for stopping by!

      Delete
  3. I would love to own Disney in my dividend portfolio. Very impressive savings rate as always.

    ReplyDelete
    Replies
    1. Tawcan,
      Thanks for stopping by! I have been working on trying to get my savings rate higher for this year. So far the progress has been solid. I am hoping to also add to Disney very soon. Even though it take a year to receive the dividend, I am looking forward to all the future growth for the company.

      Delete
  4. DM,

    Nice job, especially with the low expenses. You got off to a great start there with the savings rate, which should help roll the dividend income along.

    Great January!

    Best regards.

    ReplyDelete
    Replies
    1. Mantra,
      I have been trying hard to cut out expenses in order to achieve financial independence a lot quicker. I remember you wrote about how it's much easier to cut expenses vs. increasing income which really stuck with me. I am hoping to keep the high savings rate going each month, but I may hit a couple of one time expenses which are normal. Thank you for stopping by!

      Delete
  5. Good Job DM. I can't wait for that blue bar to grow

    ReplyDelete
    Replies
    1. BDI,
      Thank you for the words of encouragement. I have been focusing a lot on trying to increase my passive income, and lowering expenses. I am hoping this will be a very good year and I should be able to have record months in terms of passive income.

      Delete
  6. Wow DM,

    That's an amazing savings percentages.
    You're doing great. Keep up!

    Best wishes, DfS

    ReplyDelete
    Replies
    1. DFS,
      Thank you very much. I am hoping to keep that percentage going throughout the year. I do have a few other expenses I would like to cut out (dish network), but I am waiting to see what my other options to watching cable could be.

      Delete
  7. Dividend Mongrel,

    Nice job with growing the dividends and a high savings rate.

    Looking forward to a great 2015!

    ReplyDelete
    Replies
    1. DSI,
      Thank you very much for stopping by! 2015 is shaping up to be a good year so far in terms of my savings rate. I just had to cut out some of the expenses that weren't necessary in my life. I am also thinking of cutting out Dish but I need to replace it with something. I was thinking of getting the Roku and buying a Hulu subscription.

      Delete
  8. Looks like your January started off pretty well. An awesome savings rate cracking 50% and some pretty nice passive income too. Actually we have quite a few names in common for our January dividend income. I'll be reporting that soon. Thanks for sharing and look forward to your next update.

    ReplyDelete
    Replies
    1. DivHut,
      I think this is the first time ever that I was able to save over half of my income. I am going to keep chucking away this year. I have a target of saving 37% of my income which is very achievable for me. I can't wait to see what your dividend income looks like for January. Keep it up!

      Delete
  9. That's a great month and impressive savings rate. Your dividends for the are interesting and there are a couple of stocks that I want to add to my portfolio as well like KRFT. Looking forward to seeing your Feb numbers.

    ReplyDelete
    Replies
    1. DGJ,
      I really like KRFT for the hefty dividend. They have also been performing quite well as of late. I want to add more shares but they seem a bit pricey right now. Thank you very much for stopping by!

      Delete
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