Finally my report for July! I have been a little preoccupied this past week. “They” finally gave me my termination letter. I was really upset when I received it last Friday at 4 pm! It’s not the offer they verbally gave me, back in April, but no surprise there. Always ask for confirmation in writing. Honestly, it has been a rough few days, and not just because the offer is not what I expected, but also because it feels so real now. I know you would think that after waiting for so many months, I should be ready! But I wasn’t. Whether I decide to “retire” or look for another job, my life is going to change drastically soon and it is scary! Probably for the best, but I don’t think that way right now. I am thankful I am FI so at least I don’t have to worry as much about money (but I still do!). Anyway, let’s look at my July 2018 – Income, Expenses And Goals for now.
Related post: On the outside I may look cool, calm and collected…
July was great. Some of the highlights:
- Went on vacation with the kids, to Playa Del Carmen, for 10 days and had a blast.
- Dividend/Interest Income was the highest ever.
- No major issue or expense on the rental front, only a few discussions with the Condo corp.
- Additional FI income from two extra sources
- Expenses were high but totally worth it since it was for travel with my kids. Got to spend your money sometimes.
FI CASH INCOME – $2,976
Monthly FI (Financial Independence) income:
Dividend & Interest Income: $1,576
154% increase over last July! My highest dividend payout month so far! Paying a lot more attention and purchasing dividend stocks on a regular basis really has made a big difference in the last year.
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 – Received an email and a letter from the Condo Corporation to let me know there was too much noise coming from my unit and too many people at any given time! It happens regularly. My tenants have three young kids and are VERY social. They always have company at their house. I talked to my tenants about keeping the noise down as much as possible, since it is a townhouse and the walls are thin. Also, I reminded the property manager that there was no rules against my tenant being social. Basically I feel the neighbor should call the by-law if there is too much noise after a certain hour. I am not getting into a neighbors’s dispute.
I estimate the time spent on rentals this month to be around 1.5 hours overall (phone and email).
My rate this month: $1,193/hour!
Dealing with neighbors’ disputes is not my favorite job, but for $1,193/hr, I can suck it up for now!
Related post: To Be A Landlord Or Not To Be?
Side Hustle/Other Income:
- I did it! I made $350 with Tangerine! Just like I planned to in my post: Earn At Least $50 Doing Almost Nothing!. It’s free money and it took hardly any time! I even set up a direct deposit and automatic transfer to get additional $ in a few months. They extended their offer to October 31st if you are interested.
- Redeemed points on my Mastercard, before cancelling it, and received $225 in gift cards. It’s just like cash!
EXPENSES – $5,760!
See where it all started and why I keep track of my expenses at Monthly Money Reports
Tip: Update your spreadsheets regularly otherwise it takes forever!
You can refer to the December post for details on expenses not covered in a specific monthly report.
Related Page: Monthly Money Reports
I added a Restaurant/take out category. It may be helpful to have the additional breakdown when I review my expenses. And finally fixed the previous car expenses breakdown for CAA and licence. Cars cost a fortune!
- Donations: I got sidetracked again and forgot to make my donation but will catch up in August.
- Gas : We were gone for over 10 days so didn’t use the car as much.
- Bus pass: Bought a few tickets instead of a bus pass this month. My son wasn’t planning to bus much and we were gone for part of the month
- Kids: My oldest daughter turned 22 (I am done with birthdays for the rest of the year!) I gave her cash and bought a few party things at the Dollar store. Also had to order books & supplies for my son for back to school. Deadline was early July!
- Travel: A little fortune was spent while we were on vacation! We saved a lot by eating at the apartment for many meals but we went all out on activities, and it’s not cheap for a family four. We had a blast! This could be one of our last trip the four of us so I wanted it to be special. You can read about part of our trip Hola From Playa Del Carmen More to come! The travel expenses include restaurants and groceries while travelling.
- Restaurant: We ordered Lebanese take-out one night and I took one of my friends out for lunch. The last time we went out, I forgot my wallet!
- Other : I bought some clothes for the trip but I really didn’t need any:( Walked by La Senza (the lingerie store) and they had a great sale on! What can I say? Don’t walk thru the mall! Also purchased sun lotions and bug sprays to bring on the trip.
Summary – FI ratio is 42% YTD including kids expenses and travel with kids. And without it I am at 71% FI ratio.
- Reduce Grocery bill by 30% or $200/week. We nailed this one, check out my last report: *Mission Accomplished* June 2018 Grocery Budget. We did even better in July!
- Increase my dividend to $12,000. On target with $7,786 to date in dividend (or 65% of my goal).
- Still blogging!
- No increase in traffic but took several social media breaks so far this summer. Check out my last blogging report: Blog Report: The Walk Of Shame. I have given up on Facebook and don’t have the energy to pin much on Pinterest. I am not sure where to go from here without spending a lot more time! My level of motivation is like a yo-yo lately. Days with very little traffic can be such a downer. How do you stay motivated?
- Twitter followers are increasing slowly but steadily.
Related post: Why Do YOU Blog? Top Reasons Why People Start A Blog
- Cut back on Sweets: No comments!
- My average daily steps were 12,580 in July! We walked a LOT when we were in Mexico.
- Took 2 weeks off to travel to Mexico with my kids. Now I have to plan the next trip!
- I didn’t volunteer this month, unless you count the time we brought food to people in need on the other side of Playa Del Carmen.
That’s it for this month. How about you? How was July? Did you go anywhere fun?
A special THANK YOU to any of my awesome blogger friends who may have featured one of my posts in July. I can’t remember if any did (so get to it). For some reason my history got wiped so I don’t have any records!