February 2015 Passive Income and Expenses

February Passive Income and Expenses

Expenses	Cost
*Rent	$250
Groceries	$221.27
General Merchandise	$430.85
Car fuel	$120.48
Auto Insurance	$108
Restaurants	$99.75
*Utility Gas	$52.50
Student Loan	$75
Phone Service	$31.88
Post Office	$27.32
*Dish	$39
*Cable Internet	$37
*Electric	$34
Liquor	$58.75
Car Repairs	$23.35
Entertainment	$12
Total	$1621.15

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

Expenses were a little higher this month for a few reasons. This month the highest expense was general merchandise. I ended up buying an ottoman and coffee table because our old table broke and we needed a more comfortable living room. Both pieces of furniture were sold at a deep discount because the gentleman who owned the furniture store was going out of business. All of my other expenses were pretty much the same as last month. I am also happy to announce that my Dish Network bill will now be cut in half because I was about to cancel my service. They offered me a 50% reduction rate with no contract. This new rate begins next month. I have also cut out Brazilian Jiu-Jitsu classes which will save me $100 every month. My next step is to cut out that liquor expense. It seems to be putting a minor dent in my expenses and I may try to limit myself down to (1) six pack per month.

Passive Income	Earnings
General Mills (GIS)	$2.15
ATT (T)	$3.80
Verizon (VZ)	$3.10
Starbucks (SBUX)	$1.03
Hasbro (HAS)	$0.42
Apple (AAPL)	$3.88
YUM (YUM)	$2.60
Summit Hotel (INN)	$4.80
CD Interest	$0.44
Savings Interest	$2.98
Credit Card Cash Back	$19.00
Total Passive Income	$44.20

 

 

 

 

 

This month my passive income was a little lower than I expected. This is the first February that I am declaring my passive income so I don’t have anything to compare it to. I have been taking great strides in order to make March a very fruitful month in terms of passive income.

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

Income Sources	Amount
Analyst Job (Net)	$1851.86
Ebay	$108.18
Dividends	$21.78
Interest	$3.42
CC Cash Back	$19.00
Roulette	$40.00
Amazon Refund	$72.30
Motif (Bonus)	$50.00
PC Repair	$21.07
Total	$2187.61
Savings Amount	$566.46
Savings Rate	25.89%

My savings rate was nothing to brag about 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 last month. A big part of this was because of all the cutting of my expenses I have been doing lately.

Month	Saving Rate
January	51.05%
February	25.89%
New Average	38.47%

I am still ahead of the game but not by much.

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 only 2.73% of my expenses were covered by the passive income from dividends, interest, and credit card rewards. Definitely not my best month but maybe March will make up for it.

How was your month in terms of passive income?