October was a pretty good month overall, nothing much to report, except like most (all?) of you, my net worth took a little hit! Nothing I am overly concerned about at this point. My portfolio is well diversified so riding the market volatility is easier. On the job front, the company didn’t respond to my lawyer yet, it has been 3 weeks! I hope they end up paying my legal fees too. You can find out more about this month’s numbers in my October 2018 – Income, Expenses And Goals update below:
- Went to the Anthropocene Exhibition at the National Gallery. It was impressive, the exhibition shows the impact of human activity on Earth through photography. It really makes you think about what WE are doing to our planet:(
- I received the second invoice from my lawyer! No comment. No progress!
- Reached $11,176 in dividend income to date!
- A few issues with my rentals and renegotiated two of my mortgages.
FI CASH INCOME – $2,092
Monthly FI (Financial Independence) Income Summary:
Dividend & Interest Income: $1,201
My dividend income to date is $11,176! So close to my $12,000 target. It’s a 106% increase over last year. I am hoping to continue that trend in the years to come. Dividend income is such a passive way to earn money, not like rental properties!
If you want to find out which stocks/ETFs I received income from, check out my Monthly Dividend Income Page Here.
Rental Income: $1,766
Rental income from my three rental units, all condos. You can read more info on my units here.
I renegotiated two of my mortgages with the bank, effective November 2018. The rates are not as good as they were 4 years ago:( I signed up for another 4 years at 3.49%.
What Else Happened In The World Of Condo Rentals?
- # 1 Condo – My tenant texted me in the middle of the night to let me know the thermostat was dead, the furnace didn’t work and was making loud noises. My partner, who was in a giving mood again, offered to come and check it out with me. Since we thoughts it could all be caused by the thermostat not working, we stopped at the hardware store before heading to the condo to buy a replacement one. Once there, my tenant had a few other things she wanted fixed so
wehe did it all at the same time, nothing major. We did end up replacing the thermostat, it didn’t take very long. I had goggled it all before too, so next time I should be able to do it myself.
- # 2 Condo – Nothing more after the small electrical malfunction at the end of September. But today, she gave me her formal notice, she is moving out at the end of January! I already dislike looking for tenants but during the Christmas Holidays? Seriously? And in the middle of winter!
- # 3 Condo – I received a complaint again about my tenant’s garbage being in the common area. This time I stopped there on my way home and got them to clean it up right away and explain (AGAIN) the condo rules. She then told me she was pregnant with their 4th child so they plan to move out around March. The townhouse is getting too small for them. This unit was originally supposed to be a flip but it wasn’t selling so I rented it. Not sure what I want to do with it now, it’s my most profitable unit. But it means I am potentially looking for two new tenants around the same time, that’s a lot of work. Not sure I am up for it.
I estimate the time spent on rentals this month to be around 3 hours overall.
My rate this month: $588/hour!
Do I sell or do I rent? Such good income!
Related post: Landlord’s Nightmare? Tenant From Hell!
Side Hustle/Other Income:
- Received $100 from my Tangerine account for adding direct deposit when I originally signed up. I think so far I am at $450 from referrals and miscellaneous bonuses. And all I had to do was open an account! check it out at Earn at Least $50 Doing Almost Nothing! You can’t say no to free money. My Orange Key is 53429745S1.
EXPENSES – $3,297
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:
A very cheap month when it comes to my three kids!
- $18 for the amount outstanding between buying and selling university books for this term (impressive).
- $23 for the school picture for my son, last year of high school. I bought the cheapest one!
Much better on the restaurant/coffee shop front this month.
- My coffee shop breaks cost me $21 compared to $78 last month!
- Went to a Portuguese restaurant with one of my girlfriends. I had stewed rabbit and it was so good (remember I am French, we eat weird stuff like frog legs, snails and rabbit, don’t judge!) and we had two glasses of wine each.
- Took both my girls out for a girls’ night out (my son wasn’t interested). I had Mediterranean Chicken.
- Spent $18 for two slices of cake (mine was Ferrero cake, YES it’s a thing) at a fancy dessert place, totally overpriced! And no pic:(
- I also went out a couple of times with my partner but he paid so no expense to report.
Legal Fees :
My biggest expense this month again and no resolution yet:( I am trying not to think to much about it, not much more I can do at this point. For those of you who are new to my blog, I have been negotiating my termination package at work, or trying to!
Related post: On The Outside I May Look Cool, Calm And Collected But…
- Used some (lots) of my Optimum Points on one of my down days. I usually keep them for Christmas but this was an exception. For a total of $200 worth of goods, I only paid $24.
- Bought a cool mug for one of my co-workers for Christmas and one for my partner, it was a good sale.
I tried a Monday Thru Friday No Spend Challenge but I was only successful one of the weeks. I am going to do like many other bloggers and just try to keep my spending days to a minimum. NO SPEND days challenge!
And Free Money! $187
*New category* 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. Christmas is usually when I use most of my rewards points.
- Took advantage of a special promo to use Shoppers Optimum point, I used the equivalent of $175.
“Bought” cosmetic products I use regularly (and hate to spend money on), regular personal care products, cookies and chocolate. All for $24!
- Free cappuccino at my favorite coffee shop thanks to their store reward program.
- I bought a tank top (on sale) with what was left on a gift card I had received from signing up for a Mastercard last year.
Related post: Travel Hacking? It’s Not For Everyone!
FI ratio is 42% YTD including ALL expenses.
For Core Expenses, without discretionary & kids; My FI ratio is 83%.
(Discretionary & kids being: kids’cell, donations, kids’ portion of car insurance, bus pass, kids’ expenses, restaurant, travel, learning, legal fees)
- Reduce Grocery bill by 30% or $200/week. October was pretty bad again. I need to get back on track! 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 $11,176 to date in dividend (or 93% of my goal) already.
- Working on making it TWO years! Some goals need to be reachable:)
- I did manage to increase my traffic by 25%, thanks to a “Noteworthy” mention in one of Rockstar Finance’s email, and also because my numbers are VERY low. I haven’t been very motivated to do much promotion this month. At least I am trying to keep up with my schedule.
- Twitter followers are increasing slowly but steadily. I increased my goal for this year to make it a little more challenging!
Related post: Best Blogging Tips From The Blogosphere
- With Halloween, I couldn’t (or didn’t want to) stay away from sweets but I fully expect to get back on track eventually. I still keep track of my food intake in the Fitbit app, sometimes it motivates me to stop eating when I reach my maximum.
- My average daily steps were 11,933 this month, a lot less than the 13,670 in September! With the cooler weather and the rain, I wasn’t as motivated.
- No progress on planning our trip for this month, we may just do two shorter trips instead.
- I signed up for another volunteer opportunity and didn’t hear back from them yet. A common theme in my life lately!
That’s it for October. How was your month? Did you eat any Halloween candies or chocolates? Did you “spend” any Free Money?
A special thank you to the following blogs/bloggers for featuring one of Money Scrap’s posts:
- Genymoney – PF Blog Round up
- A “Noteworthy” mention in the Rockstar Finance daily email.
- TheFireLane – Writing That Wowed Me
- Tread Lightly Retire Early – Women’s Personal Finance Wednesdays Roundup
- Making Momentum – Weekly Roundup
- Camp Fire Finance Feature
Did you miss any of my posts in October?
- Beware! Financial Independence Is Not All It’s Cracked Up To Be!
- Monday Thru Friday NO SPEND Challenge
- The Ulitmate Girls’ Day Out! Or How To Waste $88 In Two Hours!
- September 2018 – Income, Expenses And Goals
Pin me please.