Money, Monthly Money Reports

$1,851 An Hour! May 2018 Income, Expenses And Goals

Bait title? Maybe, but also a reminder that no matter how much I get annoyed with my tenants, it is a very profitable business. Of course there are ups and downs each month, but overall, the returns are good. Even if none of my properties met the 1% rule! (Not available in my area) . So this reminder is as much for you as it is for me,  my net on the rentals this month is $1,851 for one hour of work! Do I really want to give it up? How fed up am I with being a landlord? I regularly check my ROE and, so far, I wouldn’t get as much of a return if I invested my equity in the market. Without further ado, my May 2018 Income, Expenses And Goals.

Update on layoff notice: None. Moving along…

Related posts:  Could Getting Laid Off Be The Right Opportunity For Me To Retire Earlier?.


Monthly FI (Financial Independence) income:

I added a row to report the principal repayment for the rentals. Why? Because it is money in my pocket! (and it will help me stay motivated a little while longer, hopefully). Every month, part of the rents is applied against my principal (mortgage on rentals), it reduces my debt and increases my equity. May not be cash today but it will be when I sell the condos. The plan was to keep the condos until I turn 55. I have to admit, as I get older I don’t have as much patience and I am not sure I will make it another 4 years! But then some days, I still look at multi-family units! No, I am not bi-polar, but ask me tomorrow!

 Dividend & Interest Income: $809

Not my highest month but it was expected, next month should be much better. Still a 79% increase over last year. Most of it just because I started paying attention!

Stocks/ETFs I received dividends from in May:


  • REI.UN – RioCan Real Estate Investment Trust
  • CPG – Crescent Point
  • ZAG – BMO Aggregate Bond ETF
  • CJR.B – Corus Entertainment Inc.
  • IPL – Inter Pipeline Ltd.
  • ZDV – BMO Canadian Dividend ETF
  • FIE – iShares Canadian Fncl Mthly Inc ETF
  • ALA – AltaGas Ltd.
  • ZDI – BMO International Dividend ETF


  • **New** CCA.TO – Cogeco Communications (only paid early May)
  • GIS – General Mills
  • PG – The Procter & Gamble Company

Rental Income

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

I was lucky this month, considering I was away for two full weeks in Australia and no crisis! But in the last week, they all reached out to me:

  • Tenant 1 couldn’t find her garbage! Not sure if she expected me to come look, but I didn’t!
  • Tenant 2 couldn’t remember how to turn the outside tap on. It’s ok, it’s only their third year there!
  • Tenant 3 got into an argument with one of the neighbours AGAIN! She wanted me to complaint to the condo corp. No biggie, I spent ½ hour on the phone with her and she was fine.

It is a very lucrative business but, some days, the little things are draining! Not as much as my burst pipe story. (haha, get it?)

I estimate the time spent on rentals this month to be around 1 hour, includes another brief call, while I was in Australia, from Tenant 3.

$1,851 per hour!!!

Am I ready to give that up? Do my tenants annoy me that much?

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

Side Hustle Income:

  • None, I was gone for half the month but thinking I need to declutter again and sell stuff!

EXPENSES – $5,123!

83% increase over last month. YIKES! See where it all started and why I keep track of my expenses here

Tip: Update your spreadsheets regularly!

Categories from Household to Cell phones are consistent each month so I will stop commenting unless something changes. You can refer to the December post for details.

Related Page: Monthly Money Reports 


I forgot! With the closure of our office, we no longer have payroll deductions for donation at work. And I totally forgot until now.  I need to catch up , I am behind 5 months! Once I am unemployed, I will re-evaluate how much I can donate, for now I have no reason not to. Big one time donation coming up in June.


This month I will start keeping track of car related expenses separately. I will go back and update the previous months before next report. I always look at all options for the future, and one of them may be to move closer to town and get rid of the car. So to help me with future decisions, separating car expenses makes sense.

  • $1,599 for car insurance! It covers the four of us, including my 17-year-old son who recently got his drivers’ license. It’s so much more expensive for boys!
  • Annual CAA (AAA) membership to add my son. I am a little paranoid when it comes to cars so we are all included in the membership, peace of mind for mom for basic car issues. (I still can’t change a tire). 
Kids :
  • Cash for my son for his birthday, he wants to buy a gaming computer! And a little spending money for one of my daughters who was going to Europe for 10 days visiting friends.
  • My son needed waterproof shoes for his summer job (he went for a trial in May). He will be doing lawn aeration and driveway sealing. He didn’t want to be stuck inside and he HAD to get a job! It’s a great job if you are good at it, otherwise not that great. Long hours and all based on commission. On his trial day, he made $230 but he didn’t get home until 10:30 PM!

I bought four plane tickets for July for my kids and I. We are going away for 10 days, the four of us (blended family is hard work, so taking a break with my kids now and later, one with my partner). I used my credit card rewards for the base fare and paid for the taxes – $766!!!  Next month the VRBO cost is due. I didn’t go cheap. I thought the money I saved from my Australia trip was icing on the cake and decided to spend a little more than I was planning to for our accommodations. It could be my last year with all three kids now that my oldest is graduating. GYM will be proud #YOLO.

We are going to Playa Del Carmen, Mexico.

Other :

Well I was gone for half the month and all my expenses were covered so I did ok in the “other” section! Phew.

Most of it was for my birthday (YES TO MYSELF) and includes wine (3 bottles!!!), chocolates, my favorite body cream (half price on my birthday so I stocked up) and a beautiful (and expensive) candle.

I received several gift cards for my favorite coffee shop so if I continue to pace myself, I can make it until the fall without spending any of my money for expensive lattes (and I don’t have to report it either! haha).

Summary – FI ratio is 46% YTD including kids expenses. This month FI income is not great again but I had the one time car insurance and the taxes on the flights. Except for more travel and unexpected expenses, I  am done with major expenses for the year.




  • Reduce Grocery bill by 30% or $200/week. We are doing great! I missed last month’s report but will definitely post an update shortly. For previous reports, check Monthly Grocery Reports.
  • Increase my dividend to $12,000. Still on target at 41% of my target dividend income in five months.

Related post: Managing Your Money: Needs vs. Wants


  • Reached 9 months milestone, only three more to go.
  • The numbers are not good. You can check out my Blog Report to get all the details. Taking a one month break didn’t help at all. I am still confused with SEO. Facebook is not making sense to me so I set up my profile but haven’t been back. I tried Reddit but it’s also time consuming and it’s not bringing any traffic so far. I know it can, just need to keep trying. Maybe I should have done my homework, like Tom over at Dividends Diversify, and read a few books about blogging before I started!
  • I reached over 600 followers on Twitter. It looks like I gained more followers when I was inactive for a month!

The main goal remains to keep enjoying it and make it to One year at least!

Related page: Best Blogging Tips


  • Cut back on Sweets: Except for the one week after my return, when I ate sweets every single day (I did bring lots of junk food back from Australia). I was “good” the rest of the month.
  • My average daily steps were 9,903 in May compare to 10,414 last month! I worked long days in Australia so didn’t walk much during the work week. I am back on track and very motivated. Updating my goal to 10,000 steps per day. You can’t make your goals too easy!

That’s it for this month. Maybe I need to cut back on the report, it’s getting pretty boring lengthy. Let’s see what I can come up with for next month.

How about you? How was your May? Have you ever been to Playa Del Carmen? Any suggestions?

A special THANK YOU  to  Camp Fire Finance for featuring one of my posts in May You CAN reach FI without a master plan!

Pin me please

26 thoughts on “$1,851 An Hour! May 2018 Income, Expenses And Goals

    1. Thanks Tom. If it wasn’t for those numbers, I would probably give it up right now.
      Also maybe the fact that home value hasn’t gone up much yet:)

  1. Very nice report… super complete picture! That’s quite the haul in dividend income, great job! I only own 2 of the holding that paid you this month. I’ll have to checkout the rest. Monthly payers are always great! Anyway, keep up the great work! Looks like you deserve a nice vacation on the beach in July 😉

  2. Caroline, the rentals look pretty good this month. Hopefully it’s an easy cruise for you for the rest of the year.

    I’m also paranoid about cars, always make sure it’s in a good shape. I don’t know how to change a tire, and don’t have any interest to learn either. As a result, I try to avoid driving too long distance alone. Yeah, the insurance for teenagers is expensive. My insurance agent told me, once they are above the age 24, the rate will drop dramatically. Have a great weekend.

    1. Hi Helen,
      Yes it was a pretty good month and then, last week, one of the unit’s washer crapped out! Can’t be fix:(
      I have no interest in learning anything about cars, It never interested me. CAA (AAA) is a good investment for our family:)

    1. Thanks Angela, yes the income was great THIS month:)
      I was disappointed with how much the taxes and fees added up to (Canada for you) but I did save money so still ahead of the game!

  3. The rental income looks pretty good from May. If your tenants are a burden on you, you may want to consider giving up being a landlord. But if their issues are manageable and doesn’t stress you a lot, continue having those rentals.
    I’m coming up on a year of blogging and I just started to look into SEO, lol!!

    1. One year blogging! Can’t wait to read that post:)
      I may definitely have to give up on being a landlord if it stresses me out to much. I wish I started when I was in my 20’s!

  4. Those phone calls from tenants would stress me out! But it looks like you keep calm and collected. So what did you say to the tenant who couldn’t find their garbage?

    Hehe thanks for the mention! #YOLO! $760 so far for taxes for 4 people is not bad at all! And the VRBO will be expensive but time with your kids is priceless! Especially when they grow up, hard to spend time with family. Playa Del Carmen, sounds lovely you can visit the Mayan ruins right?

    1. It never stressed me out until I had the tenants from hell over a year ago (didn’t write about them yet!). They were awful and since then I have to admit, it’s not the same. The tenant who called me about the garbage has been great and doesn’t call often. I just asked her to look around and let me know and also told her I would let the condo corp know in case the maintenance guy found it. It is still missing so I just offered to bring one over. She was very appreciative.
      $760 is still a lot of money!:) I am looking forward to the trip. We do plan to visit a couple of Mayan ruins while there but also enjoy doing NOTHING but eat, drink (mainly mom) read and swim!

  5. Very solid numbers. Your rental income looks promising. I love how you look at every aspects like grocery expenses. Keep up the good work!

  6. Cutting back on sweets is a continuous battle for me. So my new plan is to only eat sweets that are offered at parties and get togethers and only partake in things I have not eaten before. That way I can hopefully limit my intake and try new items.

  7. never been to playa del carmen but mrs. smidlap went on a work trip to cancun. that seems like it would be a pretty good score but they got evacuated for a hurricane. i think it’s too early for hurricane season in june. have a good time.

  8. Ha! Did the tenants lose their trash can or their actual trash? We hope to be able to buy rentals down the road, so thank you for sharing your experience so if we decide to go that route we’re going in with eyes wide open!

    Also: a newer blogger, I appreciate you sharing your numbers and frustrations openly and honestly. I’m just writing more for myself at the moment (haven’t even shared with friends or family beyond my husband) so I’m not really sure what my goals are, but thank you for letting me follow along with your journey.

    1. Lol, their trash can! I better go fix the post:) Thanks
      I have been blogging for nine months and , while my kids and partner know about it, they don’t know the name of my blog! I like it that way for now:)
      As far as rental properties, I try to publish a post regularly about my experience as a landlord. It is a very lucrative business but it comes with its headache. I still wish I started in my 20’s:)
      Thanks for stopping by and good luck with the blog.

  9. Thanks for sharing your report, Caroline! As you know, I enjoy reports like this. $809 in dividend income is amazing, and it’s great that you include expenses too. I’m thinking about doing an expense report or savings rate post for motivation and to gain better control of my finances. Also, I have been to Playa Del Carmen in 2015. I had a lot of fun there and would love to go back. Enjoy your trip!

    1. Thanks Graham, I can’t wait to go!:)
      The expense report is really helpful to me for my planning, I never took the time to do it to that level before. Plus by publishing it, I always know where to find it!
      I stopped sharing my savings’ rate goal because it had no value unless I shared my actual income.
      Can’t wait to see your updated charts:) Cheers

  10. That’s a pretty impressive dividend income growth rate. I’m a big believer in passive dividend income growth for the long haul. Keep up the good work with those divvys and rental income!

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