This saving period was a nice and quick one, but not without pain. I sacrificed a weekend to work, but was able to put $500 towards my savings for The $1,000 Project. I also rented my home on Air BNB ($300), sold some old baby stuff on GumTree $120, put the savings from my Woolworth Loyalty Program ($25), had date night in with Rocco ($25) and took lunch to work twice and saved $20.
I purchased some more shares in Primary Healthcare as I read some positive reports about the companies growth prospects in the Financial Review and could see that my portfolio needs to be diversified, which approproately matched my Morningstar recommendations. Remember that shares are a long term investment, come with risk, and are for growth style investors who understand and are comfortable with market volatility. So remember that if I talk about a share that I purchased, this is not advice for you but general advice and more importantly general education and inspiration. Always do your own research before investing in anything and make sure that you are always comfortable with your decisions.
Obviously the $500 that I was able to earn working on a weekend helped a lot, but sometimes great achievements don’t come without a bit of blood, sweat and tears. This was hard to do, especially as the weather is so great in Sydney and I am craving some beach time, but to be honest, it felt really good seeing this money in my savings account and then investing it…the sacrifice was worth it and I like the proud feeling…
My estimated passive income is now $1,936 p.a. and I am heading at a healthy speed towards my goal of $4,000 p.a. by October 2016.