October Passive Income and Expenses

October 2014 Passive Income and Expenses

Another month has passed and it’s time to reveal what the expenses and passive income were for October. My quest to become a full entrepreneur becomes more apparent as the months go by. My net worth seems to be rising at a much faster rate compared to a year ago. It was very hard to save that first 10K, but it was interesting how much faster I turned 10K into 20K. I am hoping to turn 20K into 30K at an even faster rate by making my money work for me. It’s easier to start building your net worth when you have multiple sources of income. For example I have income coming from a first shift job, a third shift job, dividends, interest, credit card rewards, CD’s, and Ebay. I also have a 2.5% matching contribution on a 401K plan for my full time job. So you can see how I have started a mini foundation of building wealth. I am not saying that building wealth is easy and it’s actually quite hard. You will always run into a few hiccups while trying to build your wealth. October was a very expensive month for me but the money I spent was very minimal to what I could have spent. Sometimes you will need to replace your appliances and fix your car. It just so happens both of these issues occurred in October and I am glad that I was able to get it out of the way. I am hoping to finish the year off strong with November and December to look forward to. I am glad to be a part of a community that helps to lift each other up. It really helps me to stay focused and I don’t think I would be doing as well if it were not for the great bloggers that put a ton of work into their writing.

Here are the expenses for the month of October 2014.

Expense	Cost
Groceries	$308
*Rent	$250
Student Loan	$50
*Utility Gas	$16
General Merchandise	$39
Car fuel	$162
Restaurants	$92
Auto Insurance	$108
Brazilian Jiu-Jitsu	$90
Phone Service	$43
Liquor	$19
*Dish	$39
*Cable Internet	$37
Post Office	$46
*Electric	$16
Car Repairs	$117
Refrigerator	$512
Total	$1944.00

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

Now let’s take a look at all of my passive income for the month. This 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 and will try to keep expenses a little lower for the last two months of the year.

Passive Income	Earnings
General Electric (GE)	$4.53
American Realty Capital Properties (ARCP)	$3.00
Mondelez	$0.41
Dr. Pepper/Snapple DPS	$1.06
Dunkin Donuts (DNKN)	$1.23
Coca-Cola (KO)	$2.25
Viacom (VIAB)	$0.59
Pepsi (PEP)	$1.44
1.5% Cash back Credit Card	$55.47
Savings Interest (.95% APY)	$6.13
CD (1.15% APY)	$0.49
Total Passive Income	$76.60

 

 

 

 

 

 

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

Income Sources	Amount
R.C. Job (Net)	$1,482.29
I.T. Job (Net)	$829.01
Ebay	$127.66
Dividends	$14.51
Interest	$6.62
CC Cash Back	$55.47
401K	$137.35
Total	$2,652.91
Savings Amount	$708.91
Savings Rate	26.72%

The cash back rewards have been a great help because I have been using that money to reinvest into more shares. These 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. Now let’s see how much of my expenses were covered by the passive income.

 

 

 

 

 

 

 

 

 

How well did you do in October?