Money, Monthly Money Reports

August 2018 – Income, Expenses And Goals

Another month, another couple of extra paychecks! I am still negotiating my termination with my company and, in the meantime, I am still employed and getting paid:) My lawyer is costing me a fortune! (I received her first invoice late last week and wait until you see my September expense report, yikes!). But, regardless of the cost, I am 100% certain it was the right decision to hire her. My company keeps delaying their response but at least their lawyer keeps us informed (Not like the last few months when I barely got any updates). Based on their latest email, I should have a counter offer this week…maybe. On another note, August was a good month overall. Check out my  August 2018 – Income, Expenses And Goals  update below:

Related postOn the outside I may look cool, calm and collected…

August Highlights

  • Unrelated to money: My oldest daughter got engaged:) It is a happy time but also a reminder of how much we miss their dad. 
  • $8,775 in dividend income to date! $12 shy from making $1,000 in dividend this month which is usually a low dividend month.
  • Spent $575 to register for a real estate salesperson course.
  • Some of my tenants are becoming a nuisance to their neighbors, or are they?
  • Made another $50 from a Tangerine referral. That’s $400 in two months!!! Find out how you too can  Earn At Least $50 Doing Almost Nothing!


Monthly FI (Financial Independence) income:

FI Income Money Scrap August 2018

 Dividend & Interest Income: $988

114% increase over last August! August is one of the slow month with very little quarterly dividend (only three) but getting really close to $1K for the month anyway so no complaints.

Rental Income:

Rental income from my three rental units, all condos. You can read more info on my units here.

  • # 1 Condo –  Nothing to report
  • # 2 Condo – Nothing to report
  • # 3 Condo – The saga continues with the neighbors, the property manager and my tenants. Anytime my tenants make too much noise or have any garbage left out, one of the neighbors complaints! It is becoming a little ridiculous. I know my tenants are not very quiet and are very social but there are no laws against it. The property manager sent me an email to let me know he would recommend the board takes legal action if things didn’t change soon! Wow, a little extreme maybe??? He is new and I don’t like him already:( This was after only two complaints were made and they may have been from the same neighbor. Anyway , as a good landlord and unit owner, I asked my tenant to keep the noise down in the evening and asked the property manager to give me details on the complaints (what, where, when and from which neighbor). I also let him know that , as a unit owner, I wasn’t impressed he would suggest legal actiont so quickly in the process and if the claim was deemed frivolous, I wouldn’t want it to hit my condo fees! He really pissed me off and I was already having a bad week.

I estimate the time spent on rentals this month to be around 1 hour overall (texts and emails). It doesn’t take that long to tell someone to get lost:)

My rate this month: $1,794/hour!

 Related post: To Be A Landlord Or Not To Be?

Side Hustle/Other Income:

  • I made another $50 with a Tangerine referral! That’s $400 in two months:) Check out my post: Earn At Least $50 Doing Almost Nothing! to find out more. Just open a Tangerine account and use my Orange Key : 53429745S1. You too can earn $150 in no time:)

EXPENSES – $3,622  

See where it all started and why I keep track of my expenses at Monthly Money Reports

Tip: Update your spreadsheets regularly.

You can refer to the December post for details on expenses not covered in a specific monthly report.

Related Page: Monthly Money Reports 


Donations: Caught up for the last two months and donated to the Cancer Society this month (both my parents died of cancer so it seemed like the right choice after mental health).

Car MiscBrought my car for an oil change and general check up. Oil change was free. They told me I needed a few things done…$2k worth!!! I know nothing about cars so getting a second opinion.

Cell phones: Insane! My kids are on a family plan and went way over  the data! I didn’t want to start a fight so I let them know I was paying this time but next time they will! The extra data wasn’t part of their Christmas gift! I can’t wait to get to the end of the year when I will be able to renegotiate the plans. It is insane how much I spend on cell phones! Even if they are Christmas gifts!


  • Balloons & flowers for my daughter’s engagement to bring to airport when I went to pick her up,
  • Haircut for my second daughter as a treat
  • Cover charge for club for my niece who was visiting and Uber home


  • Many little coffees around town!
  • Several brunches.
  • Indian dinner with my friend (Forgot the pics again!)

Learning: Registered for the Real Estate Salesperson course. It wasn’t cheap but I figured it was better to get it done now while I was still getting a pay check. Real estate is a career I may consider in my next life:)


  • Cosmetics/personal care: Shoppers Drug Mart had their 20 times the point promo so I bought some of my products ahead of time, such a great deal with the bonus points.
  • Otherwise lots of little expenses that added up to a lot! (wine, chocolates, parking…)

Summary – FI ratio is 43% YTD including all expenses, including discretionary and kids. And without; I am at 77% FI ratio.

(Discretionary & kids being: kids’cell, donations, kids’ portion of car insurance, bus pass, kids expense, restaurant, travel, learning)



  • Reduce Grocery bill by 30% or $200/week.  In both July & August, we only spent $170/week ! More to come on our grocery spending. In the meantime, you can check all previous reports here.
  •  Increase my dividend to $12,000. On target with $8,775 to date in dividend (or 75% of my goal).


  • Still blogging! My one year was last week! Money Scrap Turns ONE!  And congrats to Tom over at Dividends Diversify for hitting his one year milestone also!
  • No increase in traffic but I did take another break from blogging. Check out my post: Another Blogging Break? Again!. I should probably rethink this goal.
  • Twitter followers are increasing slowly but steadily.

Related post: Best Blogging Tips From The Blogosphere


  • Awesome! I almost ate no sweets for 3 weeks straight.
  • My average daily steps were 11,392 in August! I have been trying to walk a lot more to help me unwind.

Other Goals

  • I am currently planning our next trip for November but a little slow at it.
  • And I finally submitted my volunteer application at the local hospital, hoping to hear back soon.

That’s it for August. How about you? How was your month?

Pin me please.

17 thoughts on “August 2018 – Income, Expenses And Goals

  1. Wow no sweets for 3 weeks?! How did you do it? I had a few squares of chocolate already haha.

    Hey when I go to 50% or 75% of my data I can get a text to warn me. Is that someone you could do on your family plan?

    Almost $12000 in dividend income that is so fantastic!

    1. Full transparency, I think I had a total of two squares of dark coconut chocolate in those three weeks! Which is like nothing compare to what I usually eat:)
      My kids do get the warnings…no comment. I think we’we solved the issue for now. just can’t believe how much phone service add up to!
      yes pretty happy with the $12,000 for this year. I probably could have been there earlier if I had paid attention to dividend stock before! You are so ahead of the game. Hope the second week at work is not too hard. Cheers

  2. Another good month Caroline!

    I love how you are no phased by the noise complaints about your tenants – it’s that sort of hassle that really puts me off landlording.

    1. Thanks Ms Zi You.
      I do get bothered by some of it. This month, I just was glad I was there for my tenants to protect their rights. Just because some neighbors don’t like them doesn’t mean they should have to move. I just hope it doesn’t keep going.

  3. Congrats on another great month, Caroline! $988 is a nice Dividend haul. I’m also looking forward to see how much the lawyer fees were. I’m sure it’s worth it though. Good luck with your goals!

    1. Hi Graham, I am really enjoying the dividend but I need to start focusing on growth too. I may not have been as diligent on that:(
      I do hope the lawyer is worth it! I am so fed up with it all. Cheers

  4. Hi Caroline, congratulations on your daughter’s engagement! That’s wonderful.

    I hope you’ll get a good package from the current employer.

    Regarding the car maintenance, you did the right thing: get a 2nd opinion. I don’t trust most of the car guys. A couple of months ago, I did an oil change. They said my car needs struts replaced. They were kidding me. As a 9-year old car, my car still buffers the road bumps very well. I won’t let them trap me into the $2.5K rip off.

    1. Hi Helen,
      Thank you.
      Car maintenance is a pain! And I always procrastinate so I haven’t even gone to get the second opinion yet:(
      Welcome back from your mini break:)

  5. That dividend income is doing so much better than last year for you. You have a good shot for making your goal of $12K this year especially if you average around $1K/month for the rest of the year.
    Hopefully the planning for your next trip is going well.

    1. Hi Kris,
      The planning for the next trip is not going at all so far:( I have been too sidetracked with my layoff. But going to focus on it this week:)
      And yes my dividend is doing MUCH better than last year and all I had to do was to start paying attention to it!

  6. I am loving your Goals Caroline. And I am loving the fact that you are doing such an amazing job in achieving them even more. I am sorry to hear about the unfortunate issues with Condo #3. This has always been a fear and deterrent that has made me second guess going into rental properties. Keep up the awesome job, I will be checking back soon to view your progress.

    1. Thank you , much appreciated:) The issue with the tenant was minor compared to some of the issues I have had to deal with but still an annoyance:(
      Looking forward to more of your comments. Have a great day.

  7. we’re right behind you on dividend income. those preferred ETF’s throw off a lot of cash but are a little underwater. you made it a year and that’s something. i think i’ll hit a year in october.

  8. nice Caroline

    very interesting about your rentals… how much did you pay per unit?

    I keep debating it but feel real estate is over valued at the moment (gta)

    seems extreme for legal action, that would piss me off too!

    keep it up, solid month both with income and expenses.

    congrats to your daughter as well!

    1. Two of them were $225K and one of them I bought as a flip (more to come on that one) and ended up costing me $199K. All three are condos. Ottawas is overvalued but not like your area for sure. How about outside of the GTA? I have been looking at triplex but prices are high.

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