Wow, it has been over 2 months since I published a post! Where does time go? It’s crazy. I took a “little” break from blogging and social media because it was taking over my life again and I had so much going on already. As usual , I will give you “all” (not sure how many of you still read my blog) in an upcoming post. But first here is my Final 2018 – Income, Expenses And Goals for the last two months of 2018, a little overdue.
Highlights – Life & Money
- This year, my husband’s death was even harder to deal with . Some people said 5 years is a milestone! I don’t think anybody knows, it just happened to be tougher this year and I am so glad the holidays are behind us.
- I finalized my termination “negotiations” with my company.
- Reached $13,299 in dividends for 2018! My goal was $12,000:)
- No issues with the rentals but should have started to plan for my tenants moving out.
- Finally, things are happening on the volunteer front.
- Worked on minimizing my impact on the environment by starting to focus a lot more on reducing our plastic consumption. It has been a lot more challenging than expected, but after going to the Anthropocene exhibition and watching several documentaries on plastic waste, such as “Cleaning up the Ocean”on 60 minutes, I want to be part of the solution.
FI CASH INCOME – $1,323/$2,805
Monthly FI (Financial Independence) Income Summary:
Dividend & Interest Income: $739/$1,384
My dividend income for 2018 was $13,299! $1,299 over my $12,000 goal:) It’s a 88.7% increase over last year. I am hoping to continue that trend in the years to come. I love dividends!
If you want to find out which stocks/ETFs I received income from, check out my Monthly Dividend Income Page Here.
Rental Income: $1,558/$2,369
Rental income from my three rental units, all condos. You can read more info on my units here.
The last two months of the year are “property tax” free since I pay over 10 months from January to October.
I schedule the annual furnace maintenance contracts then so I have the cash available. I have a contract on all three condos, it’s a peace of mind for me and it includes a furnace cleaning for each unit.
What Else Happened In The World Of Condo Rentals?
- # 1 Condo – Just one text, there were looking for an extra parking space. I put them in contact with the condo corporation and they are on a waiting list.
- # 2 Condo – She changed her move-out date to the end of February:) I went for an initial inspection and everything is in pretty good condition. She is taking care of fixing carpet and walls as needed, without me asking, cool! I didn’t start looking for tenants, I wasn’t up to it. Still wondering if I should sell…
- # 3 Condo – No complaint in the last 2 months! Wow:) But they were short on December’s rent by $395. At least they called me to let me know and I agreed to give them some time. They didn’t give me any updates on when they plan to move out.
I estimate the time spent on rentals in those two months to be maybe 4 hours at most.
My rate this month: $981/hour! (includes principal repayment)
Related post: Landlord’s Nightmare? Tenant From Hell!
Side Hustle/Other Income:
- Received $5 from Ebates. Financial Freedom here I come!
EXPENSES – $4,724/$7,641
See where it all started and why I keep track of my expenses at Monthly Money Reports
Tip: Update your spreadsheets regularly.
Variations This Month:
Donations: I caught up on my donations! I identified three organizations I wanted to support on a regular basis. I used to do it via payroll but we don’t have that option anymore.
I finally had to do it, my car was acting up! I was referred by a co-worker to a small garage and instead of the $2+K my garage was going to charge me, I paid $800 cash and it is all fixed.
My biggest expense this month again. I still have one more invoice in January and then I am done! For those of you who are new to my blog, I have been negotiating my termination package at work, or trying to for months! It ended up being worth it (I was starting to have doubts). I will have more on this topic later.
Related post: On The Outside I May Look Cool, Calm And Collected But…
And Free Money! $100
Since I am not very good with travel hacking, I am going to try to keep track of stuff I get for free by using rewards points.
- Used a $100 Gift Card I received from signing up for one of the many MasterCard programs.
Related post: Travel Hacking? It’s Not For Everyone!
Summary – 2018 Expenses: $56,381 FI ratio 39%
$56,381 is a lot more than I anticipated but considering my three kids still live at home, we went for a wonderful family vacation in Mexico, I paid for legal fees and spent on a lot of little extras, it’s not bad at all.
Actually you must wonder how I managed my expenses considering I had two of my kids in University last year (one graduated since). Curious? Check out my post Why I don’t pay for my kid’ tuition even with RESP!
FI ratio is 39% YTD including ALL expenses.
For Core Expenses, without discretionary & kids; My FI ratio is 65%.
(Discretionary & kids being: kids’cell, donations, kids’ portion of car insurance, bus pass, kids’ expenses, restaurant, travel, learning, legal fees)
GOALS – Lots of Red! But it’s OK.
- Reduce Grocery bill by 30% or $200/week. I lost track but will assume we didn’t do that well leading up to Christmas. You can check all previous reports here.
- Increase my dividend to $12,000. Surpassed my goal with $13,299 in dividend for 2018.
- Working on making it TWO years! Some goals need to be reachable:)
- No comment on traffic increase. I didn’t post or use social media for over two months. Also, what is the deal with WordPress? I can’t figure out how to do half the stuff now! Apparently it was an upgrade.
- Twitter followers are increasing slowly but steadily. I will remove this goal for 2019. I am losing interest.
Did you read my last post about missing bloggers: Where Did They Go?
- It was the holidays and I wasn’t feeling that great, YES I “stuffed my face” with sweets!
- My average daily steps wasn’t good but it has been VERY cold. That is my excuse and I will stick to it.
- No progress on planning any trip. My partner and I are struggling to agree on timing and destination. We suck!
- Lots of updates to share on this topic. I was finally offered an opportunity to volunteer at the hospital but I had to turn it down because of another volunteer project I started working on. I am very excited about it and plan to share more soon.
As usual , this report is probably way too long. But hopefully you missed me enough to put up with it:) Hope everybody is doing well and takes good care of their health, life and everything else beside their blog (if you are a blogger)!
My 2019 goals? Coming your way soon:)
A special thank you to any blogs/bloggers that featured one of Money Scrap’s posts in the last few months. I apologize if I didn’t keep up this time.