Hello Friends and welcome back to another Liquid Net Worth and Passive Income update via my Personal Finance Canada blog! I hope you are enjoying my monthly reports since February 2021.
July was another great month for making extra income from dividends and hustling around despite the markets crash. Please note that all the numbers were recorded on July 31.
Passive income number is the golden number to always pay attention to!
July 2022 Passive Income (Savings Accounts & Dividends) Was $2206
Extra Side Hustle Income Report $371
Frankly, counting the side hustle isn’t an easy job. I made a spreadsheet and record my income through this source but it is a hectic task with money coming from so many resources.
I might miss some stuff while reporting but here comes what I earned in July 2022 in side hustle excluding other sources like dividends and savings accounts earnings.
ServiceNotesEarned AmountNewton ExchangeJoin Newton, earn $25$25Brim FinancialJoin Brim Financial$120Hodlnaut ExchangeJoin Hodlnaut, earn $25$30 USDLearn & Earn ITAmazon Gift Card$140Neo FinancialGet a free Neo Credit Card, earn $50$50VoIP.MSSave on Phone Bills$10 USD
I love Brim Financial and use it when abroad for credit card payments to avoid paying foreign exchange fees. I also get 1% cashback which is nice to have on a free card.
I used it in many countries successfully. It also gave me access to free Global WiFi. Best part is that they pay me 500 ($5.00) points every year on my birthday.
Non-Chequing Accounts As of July 31, 2022
BankTypeAccountValueOwnerQuestradeRoboTFSA$90,782Mrs. DreamerQuestradeRoboRESP$50,424Girls A & BMeridianGICRRSP$15,149Mr. DreamerMeridianGICTFSA$6,701Mr. DreamerOakenGICLIRA$22,605Mr. DreamerWealthsimpleTradePersonal$14,874Mr. DreamerWealthsimpleTradeTFSA$77,368Mr. DreamerWealthsimpleTradeRRSP$80,415Mr. DreamerCryptocurrencyCryptoPersonal$20,701Mr. DreamerCurrent Status of Our Accounts
Current Investment Portfolio & a Nice 7.36% MoM Liquid Net Worth Growth
My liquid net worth finally increased by $25,811 MoM after months of decline. I realize this is might be a temporary recovery but I hope we hit the bottom. Investment comes with its cycles. As an investor, I am happy to use the declines in the market to accumulate more funds.
The current market conditions help me to get discounted stocks and ETFs I’d love to hold for a very long time. Time in the market and dollar-cost averaging are investors’ best tools.
July 2022 Liquid Net Worth Improved to $376,469
Dividends & Savings Accounts Income
Well, please congratulate me for a new passive income record of $2,207.42.
MonthDividendsHISA & GIC CryptocurrencyTotalJul 2021$797.74$214.04$290.45$1,302.23Aug 2021$317.66$215.56$293.56$826.78Sept 2021$431.40$216.83$307.15$955.38Oct 2021$608.39$727.09$451.00$1786.48Nov 2021$211.25$217.82$680.31$1109.38Dec 2021$880.08$238.15$871.75$1989.98Jan 2022$1,065.49$407.97$622.00$2095.46Feb 2022$284.85$200.236$68.43$1,153.51Mar 2022$541.57$212.00$823.32$1,576.89Apr 2022$782.35$58.00$901.40$1,741.75May 2022$490.06$63.00$926.00$1479.06June 2022$981.71$60.86$1,078.00$2,120.58July 2022$1,240.66$62.76$904.00$2,207.42Monthly Income Report Table
I received a total $1,240.76 from dividends while $904 came from my tiny Crypto portfolio.
The total $2,207.42 in passive income is equivalent to making $12.73 hourly as a full-time employee. This amount is also what I paid for our Aug’s Europe flight. Below is the list of who paid me in July 2022.
Liquid Net Worth and Extra Income Update Summary
To summarize, I made $371.05 in side hustle income in July 2022. I also had $2,207.42 income from passive sources which brings my total July 2022 extra income to $2,578.47 CAD which covers almost all our regular monthly expenses as a family of four.
In 2022, my total extra income has been $18,553 so far with $12,374 of it being totally passive which is an average $1,767 monthly.
My average passive income is 47% higher than my $1200 monthly 2022 goal
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