February 2019 Monthly Income Streams Report

Is it possible to save money and still enjoy life? I usually go to extremes with spending and saving. But this month I saved money while enjoying life.

This is my monthly check in with my five year financial plan. If you followed me for a while now feel free to skip the next few paragraphs.

So a while ago now I made a financial plan. Basically, my goal is to build multiple streams of income of which some are passive. If you want all the details of it to check out the post about my five year financial plan.

Why do I publicly post my monthly check-ins?

So often we see and hear about people reaching their goals after they reach them. Even if these people are being 100% honest they still have the benefit of hindsight. Of knowing how things worked out.

There is nothing wrong with sharing your story that way. But sometimes by sharing our stories this way we minimize the rough patches.

Reaching goals can be hard, it takes a lot of work. Things don’t also work out the way you want them to. It can be hard in times like those to think long term.

That why I share my monthly check-ins as they happen. Because I don’t know how things will work out. If I were to recap this after I reach my goals I could probably wrap it up into a neat and tidy story.

That not going to happen today. And that why I post these publicly so you can see exactly what it takes to reach long term financial goals.

What happened the past month?

This past month just flew by. It was over before I knew it. And a lot of things happened in February.

There were four birthdays in my direct family. Which you know is four cakes. Four presents. People coming over for the birthdays.

At work, my manager moved to another branch and her replacement not going to be here until May. That means I’m busier at work until then.

And I was also finishing up Bank Boost. I want to Ottawa for a bit. I did some training out of town. I was sick. It was busy.

Did I hit my goals the past month?

Yes, I did. This past month I topped off my emergency fund. It feels so good to have that finished.

I also thought I was going to max out my TFSA this month. But my account is saying I have more room which means I did my math wrong at some point. So I need to look into that and fix it as well.

In general, I manage to increase my net worth while still enjoying life. And for me that a win.

My income streams

Paycheck 95.71%

As usual, it is my paycheck coming in first. Nothing new. It might lower a bit in the coming months as finished setting up my matching RSP with work.

Cleaning 4.04%

I clean an office once a week. Not the most interesting thing.

Sometimes I’m like why am doing this I can do without the money and I don’t always feel like cleaning. But this money I can put towards my goals. And I want to get away from only earning money from my day job and this is a start towards that.

Interest .24%

This is higher than usual cause my emergency fund is full. And that my highest earning interest account. Yeah, I pretty happy with this number. It’s not the biggest but it completely passive.

What did I do wrong this past month?

I going to be completely annoying and say I think I did really well this past month. Life was busier than usual and that actually cut down my spending a bit.

As for money coming in not much has changed there and this is something I would like to improve on. I want to be pulling money in from different sources. But I need to focus on one thing at a time and stop acting like a squirrel.

The only real thing I did wrong this past month was I destroyed my month cushion. I really wanted to reach my emergency fund goal. And to do that I did put a whole paycheck towards my savings which means I couldn’t use it for next month budget.

How will I improve next month?

Plan for next month. Put the money towards. It does feel a lot better when next month rolls around and you know everything is covered.

The other thing I want to improve though this is more long term is building other income streams. And not just research it. Or pursue 100 different things at once. But actually, focus on one thing and say how can I get this to make money.

How can you apply this to your goals?

Plan ahead. It also is good to have a bit of cushion for the harder months.

I don’t know what else to say that not much I’m changing in the coming month. Once again it helps to have good systems in place.

This past month I also did a lot of free or almost free things. So take advantage of those opportunities you see. Also, libraries are good for getting stuff cheap. I can borrow tickets to local events form my library.

P.S. You can save more while enjoying life with my 5 tips to save more.

You don’t get what you don’t ask for so today I’m asking you to share my February 2019 Monthly Income Streams Report by pinning the image below.

February 2019 monthly income streams report