Wealth Building & Income Update – October 2017

Check me out, bright and early with the Wealth Building & Income Update for October.

To begin with, let’s take a look at this lovely passive income:

Passive Income For October

Source

Sum of Amount

Bank

£3.00

Dividends

£10.97

Property Partner

£6.02

Rate Setter

£1.23

Grand Total

£21.22

Dividends came in from Diageo (£8.09) and RIT Capital Partners (£2.88).

Property Partner income continues to grow steadily, up from £5.59 last month. In October of last year, I made £1.87 on Property Partner! Consistency clearly pays off.

Moving forward, I will be committing fewer funds to Property Partner as they have increased their minimum deposit from £50 to £250 – without warning, might I add.

I will switch to Auto-invest where the minimum deposit is £50 per month and any un-invested funds will receive 5% interest!

By reducing investment in Property Partner and other forms of alternative investment, I can continue to move towards Index investing.

Passive Income to Date

Month

Passive income

June

£33.70

July

£11.99

August

£8.25

September

£76.88

October

£21.22

Grand Total

£152.04

Wealth Building

Largely due to my trip abroad this month, I cut down on new purchases in October. I will try to continue this trend moving forward to focus more on getting started with index investing, I may have mentioned this already?

My crypto-coins have surged as you can see. Bitcoin has been on a real roll and doesn’t look like slowing down just yet. Part of me is hoping for a crash in the price so I can buy more.

A notable buy this month was a small stake in Assetz Capital (a company I want to use… after I’ve started index investing) via its equity crowdfunding campaign on Seedrs. Assetz Capital is a p2p lending company which has lent 110m to businesses in the last 6 months alone.

Portfolio Tracker

Month

Snapshot date

Stock

Rate Setter

Property Partner

Seedrs

Crowdcube

Crypto-coins

WiseAlpha

Other

Total

Monthly increase

Purchases

Saved in month

July

05/08/2017

£9,895.62

£354.31

£1,790.72

£93.26

£330.00

£372.93

£301.48

£0.00

£13,138.32

n/a

£320.00

August

01/09/2017

£9,705.19

£355.38

£2,056.24

£108.85

£360.00

£646.42

£303.26

£0.00

£13,535.34

3.0%

£469.79

£325.00

September

01/10/2017

£9,824.55

£366.27

£2,234.89

£155.92

£380.00

£670.45

£405.30

£70.00

£14,107.38

3.7%

£480.66

£320.00

October

31/10/2017

£10,205.37

£402.50

£2,295.37

£176.47

£380.00

£867.43

£407.76

£70.00

£14,804.90

4.9%

£111.75

£320.00

Total

£1,062.20

£1,285.00

There have been a few updates on the tracker worth mentioning. Firstly, snapshot date has been added to show the actual date that the data is taken from.

In addition, Purchases and Saved in month columns have been added. Purchases show how much is being spent each month on growing the portfolio and Saved in month shows the cash saved outside of the portfolio.

I think these additions help give a wider context to my financial position.

I hope this post has value to you. Be sure to keep track of my progress and share with a friend that’s currently not investing!

Everything You Need to Know About Finance & Investing in Under an Hour

richest man in london

Once described as “Baby Buffett” by Forbes, William Ackman is a relatively well-known hedge fund manager.

richest man in london

Despite some dents to his reputation, he is still widely respected.

In the video below, Ackman gives a masterful breakdown of all you need to know about business, finance and investing.

It’s geared towards the younger generation, who may be less seasoned but there are still countless gems here to be enjoyed by all.

I’m sure you will enjoy the vid but if I’m wrong please let me know!

William Ackman: Everything You Need to Know About Finance & Investing in Under an Hour

Check out my post on a classic Ray Dalio video here.

Side Hustle Summary – September 17

side hustle summary

Earn more, to invest and save more. This is the Side Hustle Summary.

I can’t say it enough: I’ve been embarrassingly dumb with money over the years. Mistake after mistake. frivolous spend after frivolous spend.

However, that’s the past. Now, large amounts of income that I bring in is invested and saved.

Let’s see September’s side hustle income

Side Hustle income for September 2017

September

Amount

Casual catering job

£847.11

Job Spotter app*

£16.24

Google rewards**

£0.89

Cashback (Quidco & Halifax reward card)

£0.67

Total

£864.91

(*Paid in Amazon vouchers, **Paid in Google Play store credit)

Very happy with making £864.91 in September but it involved a lot of hard work! long shifts on weekends and evenings at the part-time jobs, on top of a busy 9-5.

The Job Spotter app near enough doubled from last month. it truly is an efficient earner. each ‘job’ takes roughly 15 seconds to complete and I only need my smart phone!

I’d love to say this month’s strong side hustle performance has had a big performance on passive income and portfolio but sadly a lot of money went towards the holiday (vacation) to Miami & Jamaica earlier this month. Still, I was able to make investment purchases valuing £572.64 so there’s a decent balance.

If you caught this months Wealth Building and Income Update, you’ll know that I plan to sell a SNES Classic Mini to raise extra cash. I hope to then sell on more items as time permits to in increase my side-hustle income.

side hustle summary

My question for you is… Where are the best places to sell items other than Ebay?

Money Song For Children

 

How about 1 for the kiddies?

This week, Money Music Monday brings a tune for all ages to enjoy.

This simple song has an even simpler message: save money now no matter how old you are.

Then once your saving, think carefully about how you can put it to good use.

Make sure the little ones see this.

Enjoy!

Wealth Building & Income Update – September 2017

wealth building & income report

Better late than never. I hope!

September was a work-a-thon for me which will show in the upcoming  Side Hustle Summary.

I’ve only just got back from a week each in Miami & Montego Bay so I’m refreshed and ready to crack on.

First, a look at the passive income made in September.

Passive Income For September

Source

Amount

Dividends

£66.98

Bank

£3.00

RateSetter

£1.31

Property Partner

£5.59

Total

£76.88

Big improvement here on last month but I won’t get too excited, progress is progress. the dividends came from BT (£32.71), Unilever (£1.91), Legal and General (£2.02), BP (£15.62) and Lloyds Bank (£14.72).

In addition, It’s nice to see healthy growth from RateSetter. The growth is mainly due to improved lending rates on the platform.

Passive Income To Date

Month

Dividend

Bank

Property Partner

Rate Setter

Other

Total

June

£26.10

£3.00

£3.70

£0.90

£0.00

£33.70

July

£2.09

£0.00

£8.88

£1.02

£0.00

£11.99

August

£2.05

£0.00

£5.17

£1.03

£0.00

£8.25

September

£66.98

£3.00

£5.59

£1.31

£0.00

£76.88

Total

£105.31

£6.00

£29.36

£4.26

£0.00

£130.82

Portfolio Tracker

Month

Stocks

Ratesetter

PropertyPartner

Seedrs

Crowdcube

Crypto-coins

WiseAlpha

Other

Total

Purchases

Change

July

£9,895.62

£354.31

£1,790.72

£93.26

£330.00

£372.93

£301.48

£0.00

£13,138.32

n/a

August

£9,705.19

£355.38

£2,056.24

£108.85

£360.00

£646.42

£303.26

£0.00

£13,535.34

£469.79

3.00%

September

£9,824.55

£366.27

£2,234.89

£155.92

£380.00

£670.45

£405.30

£70.00

£14,107.38

£572.64

3.70%

What may stick out is the £70 sitting in the ‘Other’ category. This is the SNES Classic Mini I bought to sell on. any money made will be reinvested straight back into the portfolio. Hopefully, it’s a quick and easy win.

2 stocks were added to the portfolio in September. these were SSE (8 shares purchased for £117.39) and Daily Mail General Trust (16 shares for £104.59). These additions will be contributing to dividend growth and provide much-needed diversification.

Moving forward, it’s time to slow down with the alt investments and focus on one of my key financial goals: buying index funds. I also want to be more flexible with buying individual stocks and rebalance towards saving.

Property Partner has increased its minimum investment to £250 (it was previously £50). To navigate this, I have opted-in to auto-invest which means my funds will be allocated automatically to new properties and I will earn 5% interest on funds sitting in my account!

That’s it for this month, be sure to keep track of my wealth building journey here.

Do you have a tip to improve my strategy? Or maybe you have a great dividend stock tip? don’t be afraid to let me know below!

Fintech Companies Funding On A Fintech Platform.

Who is not fascinated by the growth of fintech, raise your hand?

fintech

Fintech, aka financial technology, brings about much-needed innovation to drab industries.

Stock brokerage is one industry in the UK that is all too drab.

I’ve previously written about FreeTrade which is launching soon and is offering trades through your mobile device without commission or fees.

However, there is still space for others to get in on the fintech action.

Currently, on Crowdcube, there are two pitches which aim to improve the stock trading experience for consumers.

Pelican Exchange

This company is raising £750,000 for 15.79% of the equity. The aim is to create a global trading platform that doubles up as a communication platform. Retail investors are able to communicate with each other to share ideas within the Pelican Exchange website.

See the video pitch below:

To date, they have reached 87% of their funding target. Check out the pitch here.

 

Broker Compare

Think: GoCompare.com but for the stock market. The broker comparison site is raising £250,000 for 21.74% of the company.

See the pitch video below:

So far, they have raised 33% of the funding target. Check out the full pitch here.

Where will your money be going?

These are definitely 2 extremely exciting fintech companies. as an added bonus, both are eligible for EIS tax relief.

What do you think about these opportunities? which do you think will have the better return? be heard in the comments below!

Disclaimer.