Month end: October 2011
This month, my passive income totaled $3,343.81, and my expenses totaled $6,848.05.
On the expenses side, this month was rough due to costs incurred moving into a new apartment, including final month’s rent for my existing apartment, first month’s rent for the new apartment, security deposit for the new apartment, and paying for movers. However, some mover charges did not register until November 1st, so they will be counted in November’s totals.
On the passive income side, this month was good to me because my existing Apple call option expired, and the stock has been so volatile right now that I could make a bit of bank writing a new covered call contract. This month was the second time my passive income topped $3,000, in fact this was my new all-time high.
Other positives are that my rent for November will be $0 (so long as I stay here), I will have a returned security deposit from my now previous apartment, and future month rentals will only be $750 per month—$25 per day! $25/day is the cost of staying in a bed & breakfast in a developing country. I can live with that amount.
The detailed financial breakdown is contained in the full post:
First, the juicy stuff: passive income. Here is my grouping breakdown:
|Cash secured puts||$149.94|
And, here are my expenses for the month of October 2011:
|Rent||$2,965.00||Final month old + first month new|
|Clothing||$921.31||Needed a new suit|
|Business Services||$566.64||Shipping, office supplies, software subscriptions|
|Food & Dining||$492.13||For New York this isn't TOO bad??|
|Interest and bank fees||$430.81||Grumble..........|
|iPhone 4S||$325.54||Do I really need to explain this?|
|Utilities||$278.16||Cell and cable internet add up!|
|Personal care||$201.89||Gym, laundry, stuff|
|Education||$142.13||Books and one class|
|Transportation||$121.70||Taxis and the New York subway|
|Disability insurance||$80.40||It's a good idea|
|Home supplies||$63.91||Paint for my new apartment|
Note: I did take two business trips, one to Boston and the other to Montreal, which I am not including here. They were for business, to gather clients…not basic living expenses, or even recreational for that matter. So, I am omitting them from this chart.
What does this mean? After all, I am less than halfway “there.” But… many of these expenses were one-time. The extra rent, the suit, the moving company, and the iPhone (about which I feel decidedly unashamed). Achieving $3,000 per month in expenses IS possible, and I have just proven that it is possible to realize over $3,000 in passive income.
To be continued…