Saturday, May 2, 2015

April 2015 Passive Income and Expenses



Expenses
Cost
Taxes
$386.48
Car Repairs
$334.17
Restaurants
$265.61
*Rent
$250
Entertainment
$191.62
Groceries
$180.10
Car fuel
$172.93
General Merchandise
$110.02
Auto Insurance
$108
*Utility Gas
$75.00
Liquor
$71.80
Student Loan
$50
Post Office
$46.83
Phone Service
$42.50
*Cable Internet
$39
*Dish
$22.45
*Electric
$19.00
Total
$2365.51

*These are expenses that are split between my significant other and I.
Expenses were a little high this month due to taxes, car repairs, and a vacation to Vermont.  Unfortunately I had a tax bill to pay for and that was due in April. My car needed the Emergency brake fixed in order to get an inspection sticker. Then our vacation to Vermont was the reason why the restaurants bill was a little higher than usual. The gas for the car was also high because I drove over 700 miles to get there and back. Next month things should get back to normal.
Now let’s take a look at the passive income:
Passive Income
Earnings
Baxter (BAX)
$1.97
GlaxoSmithKline(GSK)
$4.09
Diageo(DEO)
$2.87
Bank of NS(BNS)
$3.38
General Electric (GE)
$4.92
Pepsi (PEP)
$1.93
Viacom (VIAB)
$2.55
Coca-Cola (KO)
$11.60
Wal-Mart (WMT)
$5.90
Dr. Pepper/Snapple (DPS)
$1.62
Mondelez (MDLZ)
$0.42
Kraft (KRFT)
$9.90
CD Interest
$0.47
Savings Interest
$4.37
Credit Card Cash Back
$48.43
Total Passive Income
$104.42



















This month my passive income hit the $100 mark. Not a bad month at all in terms of passive income. I am hoping I can keep the passive income around this mark each month.
Now let’s take a look at all of the income sources:
Income Sources
Amount
Analyst Job (Net)
$1727.51
Ebay
$180.49
Dividends
$51.62
Interest
$4.84
CC Cash Back
$48.43
Loan Repayment
$100.00
401K
$190.00
Hotel Refund
$374.67
Total
$2677.56
Savings Amount
$312.05
Savings Rate
11.65%

My goal is to save at least 37% of my total income annualized for the year. I was starting out way ahead with a 51.05% saving rate in January. This month I was only able to save 11.65% of my income. This is way below my average and has put me behind on my goal for the year.

Month
Saving Rate
January
51.05%
February
25.89%
March
19.59%
April
11.56%
New Average
27.02%
I am a little behind on my goal to achieve a 37% savings rate overall for the year. About 10% down on my average goal for the year means I really have to take a second look at my expenses. 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 4.41% of my expenses were covered by the passive income from dividends, interest, and credit card rewards. 

How was your month in terms of passive income?






48 comments:

  1. Another $100plus month in dividends...way to go! You are making great progress Div Mongrel. Keep it up!

    BTW, I like your charts...makes for easier reading! :)

    Enjoy the rest of your weekend. AFFJ

    ReplyDelete
    Replies
    1. AFFJ,
      Thank you very much for the compliment. I am hoping to continue earning over $100 in passive income every month. It's amazing how much progress I have seen in just one year. You look to be moving ahead at a fast pace as well. Cheers to both of our success so far. I hope the dip in the market continues to provides a few deals so I can put more capital to work.

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  2. 500 dollars for rent? Where did you find one so cheap? Good month all around DM.

    ReplyDelete
    Replies
    1. BDI,
      I actually rent from my parents so I am lucky. The average rent for a 2 bedroom in this area is about $650-$700 which is still cheap considering when some people pay in metropolitan areas. Thanks for stopping by.

      Delete
  3. DM

    Great dividend income, keep the snowball rolling.

    ReplyDelete
    Replies
    1. FF,
      It is crazy to see the passive income over $100 in about a years time. Next step is getting that to $200 and so forth. Thank you very much for the support.

      Delete
  4. Dividend income is looking good but a little concerned about the lower than usual savings rate.Rather than cutting your expenses, is it possible to improve your income somehow?

    ReplyDelete
    Replies
    1. Tawcan,
      I have thought about what I can do to increase my monthly income but have failed in that aspect. 5 months ago I started a new career and that helped out big time. I think the issue right now is all of the car expenses and unexpected bills. I am hoping to get back on track in May. There are a couple of expenses I want to look at such as cutting my Internet service and look for a cheaper car insurance. I might also limit my beer purchases for the month. Hopefully these small sacrifices will make a difference.

      Delete
  5. Is your overall income lower than other months? Or is it really expenses that are higher? Because I don't find them that high compared to mine ;-) Trying to explain why your savings rate is going lower and lower...

    Still some nice results! Keep it up

    Cheers,

    Mike

    ReplyDelete
  6. DivHut,
    It has been a disappointing savings rate over the last couple of months. Expenses were really high due to car repairs. My car needed a ton of work in order to pass inspection. I didn't have much of a choice in that aspect. The car is finally set and I am making small payments to the repairs on a no interest card. I am hoping May will be a better month in term of expenses. I would certainly love to make more income but I think it's easier if I focus on cutting expenses right now.

    ReplyDelete
  7. In your income sources you have dividend income of $51. Yet you list over $100 in dividends. Which one is correct?

    ReplyDelete
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  10. I'd love to visit Vermont!
    It looks like you have some bots posting. Consider Akismet and/or Growmap Anti Spambot Plugins.

    Otherwise, awesome work! I make $50 in dividends every three months... sold all my stocks to buy the house!

    Keep plugging away at the snowball! Soon your dividends will be paying dividends.
    WE

    ReplyDelete
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  14. DM,

    I hope all is well with you.

    Best Regards,

    DGI

    ReplyDelete
  15. Hey DGI, All is well. I've been keeping up with reading blogs but haven't had time to update this one. Unfortunately my new position takes up a lot of my time. Thank you for checking in. How are things going for you?

    ReplyDelete
    Replies
    1. i would love to see your new article coming out soon.

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    2. May i know how much is your monthly passive income now ?

      Delete
    3. DM,

      Glad to hear you are ok.

      Things are getting busier on my end too.

      DGI

      Delete
    4. Thanks for checking in. Trying to purchase a second duplex for extra income. I've switched gears slightly but the main goal to retire early is the same. How's things wkth you?

      Delete
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