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?
