4 min read
At the end of each month I provide a recap on all the income I earned from dividends (brokerage account only), blogging, and working at my good ol’ 9-5 as a data analyst.
Related: October 2017 Income & Expenses
The reason I share my raw monthly income and expenses is because I have always found it insightful to see the real numbers behind a blogger’s financial journey. I love talking about how to earn more and save more, but it’s helpful to give a behind-the-scenes look at how I’m actually managing my own money.
Here’s what my income looked like in November along with the previous three months. All numbers are post-tax.
|Monthly Income Streams|
|Ally Bank Interest||$3.94||$6.37||$4.42||$5.27|
*My blog income was previously included in my passive income category, but I switched it to the side hustle category since it does require active work.
**I received one extra paycheck this month and also worked overtime the weekend before Thanksgiving, which explains why my 9-5 income is much higher than usual.
Here’s my November income broken down by type:
Here are my November expenses:
|Car Maintenance||$588 :'(|
Unfortunately this month I had to get an oil change and replace all four tires on my car so I took a $588 hit in the car maintenance category.
I also used to have a “Dining Out” category but then I realized the only two expenses in that category each month were Chipotle and coffee so I made them their own categories. (If you think my Chipotle expenses look pretty reasonable it’s only because I blew through a $50 gift card this month, which covered most of my Chipotle spending)
Here’s what my total income, expenses, and net savings looked like in November:
November Savings Rate: 80%
This was my highest savings rate month ever. I did receive an extra paycheck this month, which helped boost my income, but I also had higher than normal expenses due to my car maintenance so that 80% savings rate is legitimate. This topped my previous months savings rates in October (77%) and September (73%).
This was another solid month for passive income from stocks, REIT’s, and savings account interest totaling over $100. The blog also brought in a respectable $338 this month from a combination of affiliate links, sponsored posts, and advertisements.
Something I have been focusing on more lately is practicing gratitude, especially for my financial situation. Last November I was earning $0 in dividends from stocks and REIT’s and $0 from my blog. Now, only one year later, I’m consistently earning over $100 each month in dividends and hundreds of dollars each month from this blog.
When I think about the financial progress I have made in only one year it makes me that much more excited to think about where I’ll be this time next year.
Ultimately my financial goal is to generate enough income from dividends, blogging, and freelancing to quit my day job. Currently I’m earning anywhere from $300 – $700 each month outside of my day job and my monthly expenses are typically only about $1,200. Once my income outside my 9-5 gets closer and closer to $1,200 I’ll be able to seriously consider quitting my job.
In the short-term I aim to grow my net worth to $100k within the next 6 – 8 months and continue to grow the blog and invest in dividend-paying assets. I think 2018 is going to be a massive year of change and growth and I’m excited about the direction I’m heading.
If you’ve been following along with my financial journey up to this point, I really appreciate it and the encouraging comments and emails never get old 🙂
That’s all for this month, thanks for reading 🙂
My favorite free financial tool I use is Personal Capital. I use it to track my net worth, manage my spending, and keep an eye on my monthly cash flow. It only takes a few minutes to set up and it makes tracking your finances simple and easy. I recommend trying it out.
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