I have decided to start sharing monthly updates to recap all the income I earned over the course of the month, including dividend income (in my brokerage account only), blog income, side hustles, and my good ol’ 9-5 as a data analyst.
The reason I’m sharing my raw monthly income is because I have always found it beneficial (and inspiring) to actually see the real numbers behind a bloggers financial journey. I love talking about ideas on how to earn more money, but I think it’s helpful to see a behind-the-scenes look at how I’m actually earning money.
Here’s what my income looked like in June along with the previous three months. All of these numbers are post-tax.
|Monthly Income Streams|
|Ally Bank Interest||$1.88||$3.18||$3.46||$2.56|
Here’s what my June income looked like as percentages:
This was a huge month for side hustling. I earned $1,020 (pre-tax) through statistics tutoring, which is my highest month so far this year. Basically, I found a client through Facebook and he referred me to a fellow classmate of his that also needed help, so I ended up tutoring both of them extensively this month. Tutoring can be so lucrative even with just a couple students because I can charge $40-50 per hour since statistics is such a niche subject and very few people are familiar with how to teach it. It’s supply and demand in action.
This side hustle income genuinely got my wheels spinning on considering making the leap from 9-5 to full time tutor in the future. Through tutoring I can earn double the amount of money per hour compared to my 9-5, the only problem is potentially not having enough clients. But the thought of no commuting, no more dealing with projects that I couldn’t care less about, and not sitting in a cubicle for 9 hours each weekday…is enticing.
The only major advantages of a 9-5 are 401(k) matching, health insurance, paid vacations, and a guaranteed paycheck. Perhaps I’m being impatient and should stick it out with a 9-5 for a while longer. This is a question I think about frequently.
In other news, I received dividends from my Kroger (KR) stock and my beloved Vanguard High Dividend Yield ETF (VYM) along with a couple bucks of interest from my Ally savings account.
My general dividend investing philosophy is simple: consistently dollar cost average into VYM and occasionally pick up individual stocks when I see companies I like on sale. For more in depth dividend investing advice, I recommend Dividend Diplomats and Sure Dividend. As a side note, please don’t take any of my investments as recommendations, only invest in ways you feel comfortable with!
That’s all for this month, thanks for reading 🙂
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