This fortieth $1,000 has come from a variety of different efforts and is a good reminder of how lots of little things really add up. I did market research, I sold a few more items on ebay, I desposited my savings from two loyalty programs that I use, and of course I did Frugal February.
Learning to say no to everything that we get invited to, not only benefits our wallets (especially those expensive events) but is actually great for the soul, as it gives us a chance to simplify and free up our time, which recharges our batteries and gives us the time and space for reflection. To me, this is valuable.
I didn’t go out to dinner with my friends this Saturday night, I stayed at home, tidied my house, cleared my in box and even got to finally finish the book that I was slowly reading. Rocco was snuggled up on the sofa with me and playing with his toys and I was in heaven and felt great. I also went to bed reasonably early and had amazing energy to enjoy Sunday, which was spent again staying at home, getting my favourite take away coffee and going for a walk around Bondi beach…
I have to admit, this one was slow, but my dedication to The $1,000 Project persevered and it feels good knowing the step by step, I am actually heading in the direction of my dreams.
This money was invested straight into Bank of Queensland (as always please read the disclaimer, I am not recommending this stock, I am buying it for the goals and risk appetite of The $1,000 Project). I previously purchase this stock before, and it has dropped just over 13%. However the yield is not 6.6% p.a. plus there are some franking credits.
So to make the most of this buying opportunity for potential capital growth and income, as well as averaging out my entry price for this stock, I purchased another $1,000. This takes my estimated yield to over 50% to my goal, with the estimated passive income now $2,010 p.a.
Now onto the next $1,000. No time to stop, there are bargains to find, passive income sources to be purchased and goals to be achieved!
Canna Campbell is the founder and director of SASS Financial Services, a boutique financial planning firm. She is Channel 9’s exclusive ‘money expert’, founder of financial media platform SugarMamma.TV and best selling author of The $1000 Project and Mindful Money.