How are your "income streams" doing?

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icfrugal1
Posts: 2952
Joined: Fri Aug 28, 2015 12:54 am

How are your "income streams" doing?

Post by icfrugal1 »

My streams are

SS for both DH and myself and the rental income and "investment" income, my investment income is mostly CD income and that is down more the n50% since Covid-19, I'm sure that CD's will go up in my lifetime, but who knows when.

So far my tenant is paying the rent, Thank God.

I belong to lots of landlord groups on FB, all across the nation people are not paying the rent and their is nothing that the landlords can do about it.

Their seems to be a "war" against landlords and Covid-19 has brought it to the forefront. very scary

So, when the " mom and pops" are gone who are people going to rent from?? Government or corporations.

points of views are different, some landlords Seems (mostly small 1-2 units) are thinking of selling others are thinking that now is the time to buy more units.

I did make about $1,000 in cash points from CC use, but that"s on money spent, but at least some money back.

How are your streams doing?

IC
HappyDaze
Posts: 4186
Joined: Tue Oct 15, 2019 11:11 am

Re: How are your "income streams" doing?

Post by HappyDaze »

My "day job" is steady and strong and although nobody got a pay raise in the new year due to COVID, that may come in April and I'm thankful I'm still working. I consider my employee benefits when I think of "income" - for example I only paid $20 out of pocket for an eye exam and no line bifocals recently - and my share of my vision insurance is only about $21 a year. My employer also reimburses out of pocket co-pays and prescriptions up to $625 a year - so in a good year, my health care is free.

My daughter is paying me $250 a month rent plus her share of the utility bill. If her "person" is going to be a permanent fixture, I'm going to lower her rent to $200 and charge him $200 also - he's a great guy but he can't live here for free. We need to have that discussion.

Between all the survey sites I work on, I usually manage to make between $50 and $70 per month - January has been a lot higher - $80 went to PayPal, I got two $10 Target gift cards and about $30 in other payouts - but some I just can't "cash out" yet.

I'm getting a few hundred back in federal taxes - paying a bit under $150 to state - I come out ahead. The stimulus payments have been nice - spent some, saved some.

I think my days of having a second job outside the home are over - any side work I can get involves lifting and bending, etc. and I think I'm better off staying home and "frugaling" in my free time. I consider "money saved" and "money not spent" as income increases.

My retirement accounts took a bit of a hit early on during covid but have bounced back and are doing well - I monitor them constantly - and in the event of a crisis would move all my money to straight savings - temporarily.
"All his life he tried to be a good person. Many times, however, he failed. After all, he was only human. He wasn't a dog."

Charles M. Schultz
Quilter51
Posts: 2815
Joined: Sat Aug 29, 2015 6:04 pm

Re: How are your "income streams" doing?

Post by Quilter51 »

IC I agree it's a huge problem. But they way the civid economy is decimating so many people (my family included) it's a vicious cycle right now. I do believe the laws for purchasing rental property should be much more strict.

I have decided that in general I'm done with income streams and base my lifestyle totally on my small SS and pension. I do still do the occasional survey or focus group and sell a couple quilts here and there depending.
ownedbydogs
Posts: 897
Joined: Fri Aug 28, 2015 7:26 am

Re: How are your "income streams" doing?

Post by ownedbydogs »

Quilter51 wrote: Sat Jan 30, 2021 9:07 am IC I agree it's a huge problem. But they way the civid economy is decimating so many people (my family included) it's a vicious cycle right now. I do believe the laws for purchasing rental property should be much more strict.

I have decided that in general I'm done with income streams and base my lifestyle totally on my small SS and pension. I do still do the occasional survey or focus group and sell a couple quilts here and there depending.
My dd is one that is actually benefiting from the pandemic. When her Dad died, her disability check from his ss actually has ncreased enough to kick for off Medicaid and extra help for Medicare. It was to be cancelled Feb. 6, but got letter yesterday, saying it would not change until pandemic is over. Have to be glad for her, but still hope the pandemic is over soon.
icfrugal1
Posts: 2952
Joined: Fri Aug 28, 2015 12:54 am

Re: How are your "income streams" doing?

Post by icfrugal1 »

my niece was laid off March of 2020 so she did get the extra $600 a week in her unemployment.

I'll have to ask her if she is still on unemployment.

She is busy and loves the time off, but is looking for work.

She has always been frugal and lives life for adventures.

IC
Beverley
Posts: 553
Joined: Fri Oct 09, 2020 11:33 am

Re: How are your "income streams" doing?

Post by Beverley »

I wanted to bump this thread up to see how we are all doing with this. I have earned some money from surveys which is sitting in my pay pal account. I will be moving it this week.

My yard duty income stream came back in mid March. In addition I have gradually cut a lot of spending, enough to cover the big hit I will be taking on my Long Term Care premiums starting November. Plus I paid off my vehicle so that is additional money to go towards my mortgage.

I am also stashing funds to pay for some deferred home maintenance work I cannot do. If it involves climbing ladders, getting on the roof, crawling under the house, plumbing, HVAC work or heavy lifting, those are all no-go's for me. However there is plenty I can still do myself.

Bev
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