Part of being mindful with money includes spending money wisely… And this is also the case when it comes to Christmas time or other celebratory moments where you give or exchange gifts.
At Christmas, my parents usually give me some cash, because they want me to buy something for myself that I will really love, value, use and appreciate. The additional benefit of this is that I also get to use this money in the Boxing Day sales and get even more bang for my Christmas Gift Money Bucks! Thanks Mum and Dad.
However this year, I was behind the eight ball in my hustle of extra money to invest for The $1000 Project was feeling really motivated to not only try and catch up, but exceed my $20,000 goal by 11th of October 2020. So instead of heading to the shops for a new summer dress, I headed to the share market for some new summer shares.
This year my parents gave me a little more, (maybe because they suspected I would invest it and watch it grow), and so with my $500 Christmas money and some market research earnings and a few quiet weekends in, my second $1000 was ready to be invested in no time.
I purchased some more shares in one of the banking stocks that I already owned, where the share price had pulled back, looking like an attractive discount and beneficial yield that will allow me to sponsor more girls through World Vision’s The 1000 Girl Movement. As always, these dividends will be reinvested so that my portfolio can benefit from compounding interest and my portfolio remains well diversified and invested for my long term financial goals and High Growth risk profile.
At the moment I am working through a selling frenzy, where I am clearing out my closet, office and home with unwanted items and seeing if I can hustle up another $1000 quickly…watch this space but so far $2,000 down, $18,000 to go and I am 10% of the way towards achieving my goal!