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October 2018 – Income, Expenses And Goals

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:

October Highlights

  • 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.


Monthly FI (Financial Independence) Income Summary:

FI Income October 2018

 Dividend & Interest Income: $1,201

Dividend Income to date

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 cash flow October 2018

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 we he 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.

Expenses October 2018You can refer to the December post for details on expenses not covered in a specific monthly report.

Related Page: Monthly Money Reports 

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.

    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.
    Optimum Point Purchase
    It’s like Christmas!

    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.

Other Goals

  • 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:


Did you miss any of my posts in October?

Pin me please.October 2018 Income Expenses And Goals

30 thoughts on “October 2018 – Income, Expenses And Goals

  1. An interesting month Caroline. That’s still a lot of steps. That would be more the 5 miles a day for me. I’m sure I don’t average that many, but I don’t have a counter to prove it. The job exit sure has gone on for a long time and lawyers are expensive. Tom

    1. Does your phone have a step count? It is motivating sometimes to see the actual steps. Or sometimes it really doesn’t matter, late meeting, snow, no steps for me!
      Yes the lawyer is getting to be really expensive. I just can’t believe the entire thing isn’t finalized yet. Unreal!

  2. hey Caroline

    looks like a nice month. Other than the departure of 2 tenants.

    I always like these posts of yours as they really show it would be like to be a landlord. (im still debating it)

    Of course i ate the candy, still am! almost done though…… womp womp.

    good luck with the new tenant search.


    1. Hi Rob,
      I am not looking forward to look for new tenants. I should have started already for one of the units but currently focusing on University applications for my son so not focused on the rental business. Selling would be the worst move considering I renewed both mortgages this year, and the winter is not a good time for sellers. It’s the problem with rentals, once you have them, you can’t get rid of them overnight.
      I still don’t regret getting into the rental market no matter what I do going forward. It’s great money.
      I ate lots of candies too, leftovers of turning off the lights early!

    1. Lol, actually out of the four referrals, three are friends and family! The fourth one could be too:) But technically I got the idea from GYM so it could be considered blog related income.
      I agree with the termination saga, to think I work for a LARGE corporation! It’s insane.

  3. “Twitter followers are increasing slowly but steadily. I increased my goal for this year to make it a little more challenging!”

    I just followed you, so you’re one follower closer!

  4. Oh wow, two tenants are leaving within a 3-4 month period. Hopefully you can find a couple more around the time the current ones leave.
    We took our son out to his first Halloween and got a good number of chocolates. I had some but I gave the rest to my co-workers.

  5. That attorney fee = ouch! Hope it’s resolved soon.

    I bought candy to pass out for Halloween, but ended up keeping our front porch light off. My husband was going to be away and managing our two crazy dogs with the door bell and hubbub sounded too stressful. I felt like such a Scrooge! So we’ve been nibbling on two bags of candy. Oops!

    1. Me too! It is almost laughable at this point!
      I did the same with the Halloween candies, I only left the light on for about one hour. Not enough kids and my dog kept barking whenever we did get a few. We “nibbled” on the candies pretty quickly:)

  6. Hi Caroline, yeah, the market is not doing very well lately. Hopefully it bounces back in the next 2 months. Nice dividend income! Hopefully you get a decent job package very soon.

    Looking for new tenants for the rentals in the winter is not easy, hope you get good tenants quickly. Have a great weekend.

    1. Hi Helen,
      Yes not looking forward to looking for new tenants but it is part of the game.
      I will definitely get a decent package, compared to what you are accustom to in the US, it is just a matter of when at this point.
      Hope you and your mom are doing ok. Cheers

  7. i like rabbit. i buy one whenever i see it in the frozen section and just sous vide it with some shallot and dry mustard. then you can either just eat it stewed or make rillette out of some. we sold an expensive ebay item in october, enough to pay for a trip! we might to to california wine country in december but not sure yet.

    investments are taking a little hit but i raised a bunch of cash last month. that’s a bummer about the vacancies coming up, but the cash flow sure is nice. are you still working while waiting for the severance package? i started back running this week and ran a few miles all 5 work days so that has me feeling better.

    1. I love rillettes! Not sure I had rabbit rillettes before. I will look for it, it should be good.
      Congrats on the expensive ebay sale, what did you sell? I knew you sold a tin but I guess I missed the other item.
      I am still at work and getting paid but it would be nice to get an end date. My son is going to University next year so it would be nice to plan a little.
      Great job on the running (something I don’t do!), hopefully you do keep it up! I will stick to my steps:)

      1. is your son a runner or a field event guy? we sold a designer fabric “dress” that was a cut-out type thing and apparently rare. 2500 USD! that’s the funding for our next trip in the spring.

          1. we never buy anything to resell. this was a leftover from when mrs. me worked for a famous person. people send stuff to famous people all the time as it turns out. nobody wanted the thing so we won.

  8. Your rental and landlord posts are so scary to read but they’re my favorites. Finding tenants near winter might not be great but I heard everything picks up in March and gets hot from there so maybe during the winter months you can do a long-term Airbnb thing? I remember I set it to new guests must stay 3 days to a week minimum etc.

    1. Hi Lily, I don’t know about an Airbnb for that unit, plus I would have to furnish it temporarily. Seems like a big set up for a few months.
      And I don’t mean to make my post scary:) I do love my rental income, but not loving the being a landlord aspect as much!

  9. OH and sorry to hear that your company hasn’t moved their butt. The market for us has been violatile ($100k lost at one point) but I have been busy so I haven’t looked into it much. Not sure the exact reasoning for the tumble but I do like it when they get a little… discounted:)

    1. Slow company! They have other problems all over the world so who cares about tiny Canada! (Well I do:)
      I am not overly concerned about the market but wish I had more cash to invest now. Cheers

  10. This is my firs time stopping by ad I love the detail in this post. It is quite the transparent looking into everything MoneyScrap! Those dividend income figures are great, that’s for sure. Your YOY growth is amazing. But I love how that is just a part of your monthly income. It’ll be interesting to see what you decide with some of our rentals, especially the condos you are planning on flipping but ended up renting out. I guess it depends if the rental process has been more of a hassle than it has been worth. But that is up to you to decide 🙂 Regardless, these results are unreal!


    1. Thanks for stopping by Dividend Diplomats and I appreciate the comment. I try to be transparent:) I am happy with my dividend growth for sure.
      As far as the rentals, I know it would be the worst time to sell, plus I just renegotiated two of my mortgages:( I need to make a decision soon. I love the income just not dealing with the tenants as much, even the good ones:)

  11. Hey Caroline, Do you plan on keeping GE in your dividend portfolio now that they have ended their dividend? I dropped them after holding them for many years. Figured I could put that money somewhere that was still paying out every quarter.

    1. Hi OthalaFehu, I don’t own that many share in GE so I will keep them for now. They just switch to potential growth stocks in my investment:) I have to admit I suck at selling! Thanks for commenting:)

  12. Fantastic stuff, you will hit $12K in already paid dividends easily! What is your forward dividend expected yield? It’s probably like $15,000!

    Sorry that your tenants are giving you trouble. How is the real estate market there? The spring (as you know) is better to sell, not right now though. My mom had issues with her tenant (NEW tenant) who refused to pay a security deposit and then they moved out after 1 month. It’s not worth it, too much trouble.

    Ferrero Cake- I totally know how that might look and taste, and that sounds like HEAVEN!

    1. No actually only $13,200. November is one of my lowest month:(
      Winter suck for selling, plus I just renewed my mortgage! I guess I will have to rent again. We will see.
      Yes the Ferrero cake was really good, but not enough to justify the price! Cheers

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