Budget,  FIRE journey,  Personal Finance Journey,  Uncategorized

Bills covered passive income Q1 2023

Bills covered passive income Q1 2023

Bills covered by passive income is such a great milestone to keep an eye on. For me, I knew I had to have Betty’s template when she uploaded hers! Mine also includes my sidehustle in shape of my webshop though, so not entirely passive.

It’s definitely one of our FIRE goals to have our bills covered by our sidehustles and passive income streams. Especially the latter, as that would allow for us to have more timefreedom, which is our ultimate goal.

So let’s see how we’re doing on this journey people!

How many of my bills are paid by my passive income?

To be very clear, these are only my numbers and not our total shared household expenses. As I am a part of a family of two adults and one toddler, we do have a lot of shared expenses. But I am also the one running a personal finance blog haha, so it’s just my numbers.

I’ll be covering my bills starting with the smallest and working my way up. When I get further down the line though, I might break up my contribution to our household into smaller bites just to have a few more milestones on the way!

As you can see, per Q1 2023, I have 1.74% of my bills covered by sidehustle and passive income. If you’re curious to see how much I’ve made so far in 2023, you can read this blogpost for clarification.

This means that with my current budget and expenses, I am able to cover 4 bills completely! It’s not a lot but having these things covered almost makes it feel like they’re free. It’s a nice feeling to know that these are taken care of for the entire year already, freeing up the money for other things. 

  • Rental union waiting list (cheaper apartments, long waiting times)
  • iCloud and Patreon subscriptions
  • Phone bill 
  • websites and domains

Mostly, I love that my phone bill and my websites are covered, because it’s an unnecessary expense that I’m hoping in time can pay for itself (and then some!).

Have you calculated how much of bills are covered by your side-income?

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