In order to accumulate any type of real wealth it helps to have more than one income stream. For me, most of my income currently comes from my 9-5 job as a data analyst. But I also tutor statistics on the side and invest in dividend paying index funds and a few individual stocks. I also make a little money through this blog with minimal advertising.
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 has looked like through the first five months of this year. All of these numbers are post-tax.
|Monthly Income Streams|
|Ally Bank Interest||$.34||$0.01||$1.88||$3.18||$3.46|
Here’s what my monthly income looks like in terms of percentages:
Right now my main income source is my 9-5 job, but there have been months when my tutoring has accounted for as much as 17% of my income. The tutoring can be hit or miss from month to month, so it fluctuates quite a bit. I should be receiving considerably more money from dividends as well moving forward since I have been investing more and more in index funds and stocks in my Vanguard brokerage account.
I rarely invest in individual stocks, but I purchased shares of CVS stock earlier this month because I like the price it was at and I like it’s long term prospects. As a side note, you shouldn’t take any of my personal investments as recommendations, always invest in a way that you’re comfortable with! My goal is to build up my passive income through dividend growth investing over time so I can depend less and less on a conventional 9-5 job if I choose to step away from it.
For anyone who hopes to achieve financial independence some day, the journey is much quicker when you have money flowing in from more than one source. I hope to expand these sources even more in the future.
Thanks for reading 🙂
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