- paid off $100 of student loan
- obtained a U.S. credit card (I’m from Canada) for emergency purposes and credit-building
- paid off and lowered Canadian VISA credit card limit by $500
- invested $700 into my DRIPs
- bought $1500 of dividend-paying stock*
- increased overall networth by $2800
- increased January quarter cashflow by about $18.00
- increased monthly cashflow by $3.50
*includes managing to buy Toronto-Dominion Bank (TSE: TD) at its 52-week bottom! That’s the benefits of having cash on hand to do these sorts of things.
Of course, these kinds of investments will take their toll on my monthly living costs, but I’m kind of doing my own “stimulus now, pay debt later” move. I’m hoping the reinvested cashflow from all this will start becoming significant enough to outweigh the temporary pain of being without this much of my paycheck.
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Taking a disciplined approach where you are paying attention to even the smallest amounts will make a difference over time. Well done. I hope you haven’t bought GE as a dividend paying stock though.
Wow, those are some quite amazing accomplishments for just one month. You’ll be adding over $24,000 to your bottom line net worth if you continue as you have been over the next 11 months!
Thanks Steve, zedman…. I only wish I could make the same improvements EACH month. I had a big paycheck this time, that’s all. I’ll see how much I can keep it going on a monthly basis, though. My goal is to have at least $100 reinvesting for me independently each month – to start. And thankfully, no, I’m not in GE and don’t plan to be until their financial wing gets cleaned up.
Congrats on making such huge strides this month. Hopefully every month is this successful for you and you continue to increase your net worth.
Thanks PTLG. When I look back over the last ten years and see how little I did by way of boosting my investments, I think of that as my own “lost decade” to some extent. Of course much of that time I spent learning the basics of equity investing, and I’m more willing to take on risk now that I have more knowledge. I’m amazed at how much I’ve even learned just over the last year. So now I want to make up for the lost time.
Nice looking website you have, btw!
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