Another $2,000 to add to the portfolio and another boost for my passive income! This money came from a wide range of different activities, Air BNB, selling clothes via High End, quiet weekends in, taking my lunch to work, redeeming coupons. Every dollar counted towards these two $1000 parcels. And what did I buy? More CBA stock…I already owned this stock but the last few week’s the financial damage of the Royal Banking Commission has become apparent, with legal fees, fine, refunds and stringent new compliance programs to be enforced. The cost is in the billions, however with most businesses, some, most or all of these often gets passed back to the customer. As a result, most of the banking stocks came off 1-3% yesterday, so I got in quick this morning to catch this discount.
With an estimated 6% p.a. dividend yield, this represents an extra $120 p.a. in passive income for my portfolio, all of which will be reinvested for compounding growth opportunities over the long run. This takes my total estimated passive income now to over $4,390 p.a. I have until the beginning of March to get this up to $7,000 p.a. Wish me luck!