Passive Income For June: Patience Is Key

wealth building & income report

Man, I’m so glad to be a patient investor. Patience is my secret weapon to fuel the growth of my passive income.

My passive income can be low now but with patience I will watch it grow for years and years.

In June I took in a modest sum of £33.70. This was actually one of the good months!

Source

Amount

Dividend

£26.10

Bank

£3.00

RateSetter

£0.90

PropertyPartner

£3.70

Other

£0.00

Total

£33.70

As shown, the bulk of the £33.70 came from stock dividends. Theres something so sweet about dividends.

Being paid for owning part of a company – how?

Sadly, not all months are like this as most dividend-paying companies  pay out quarterly at the most.

The £3 from the Bank is the monthly reward for chosen current account.

RateSetter really is a strange one. Although 90p income isn’t anything to blog about. Along with the interest generated, I also received £86.56 of my own money back to reinvest (or withdrawal if I felt that way). I will be posting a full review of RateSetter soon but you can see for yourself in the meantime by clicking here.

Income from Property Partner was decent enough.  I’m hoping to see a nice increase on next month if I am able to secure all of my enhanced dividend pre-orders.

So theres month one complete. £33.70. Im happy, many will be underwhelmed but I remember when my passive income was £0, so I’m good. With patience I will continue to grow my portfolio and monthly income.

Do you know a strong source of monthly income that I should be tapping into? let me know  below!

Disclaimer

Save With The Plum App

Another savings based app is crowdfunding, this time on Seedrs.

Plum is sold as “the little savings butler you’ve been waiting for”.

I honestly didn’t realise that I was waiting for Plum, but now that its here I’m so impressed that I am investing.

Plum has many exciting facets which make it stand out. It is integrated with Facebook messenger and it it can automate investments via Ratesetter (a platform I already use).

Be sure to check out the pitch on the Seedrs website, just make sure you understand what a convertible campaign is and be familiar with the t&c’s etc.

Seedrs referral code:  VK6Z7L1B
https://www.seedrs.com/plum

Disclaimer

Hot Summer For Income With Property Partner

I am a consistent user of the Property Partner platform.

It’s a great alternative to buying a property outright for many reasons. No hefty mortgage to sort, ability to easily diversify, decent fee costs and low entry cost point – It’s such a winner.

Although Brexit has hurt my returns, I am still earning from monthly rental incomes and benefiting from valuation gains.

I will do a Property Partner review at some point (wait please) but for now I want to focus on the following announcement:

“We’re delighted to announce that we’ll be offering an enhanced rental income of 5% for two years on all new listing properties over the summer period. This begins with Norman House, Derby – a property yield of 3.8%*, topped up to 5% for the first two years.”

Well I’m impressed, 2 years of 5% income plus potential valuation gains. After the 2 years, 3.80% income (for Norman House, Derby) plus potential valuation gains.

I’m looking forward to benefiting from the enhanced income and you can too by clicking here.

Be sure to check out all  t&c’s and info on taxes, fees etc.

Disclaimer

 

Debt vs You: Quick Beef Breakdown

I remember. Mum used to get herself in debt every year just so I could have the presents that I wanted for Christmas. Wow.

Fast forward to this week and the Governor of the Bank of England has demanded UK banks to raise and hold additional funds due to the worryingly high levels of consumer credit in the economy right now.

The UK consumer credit market in the UK is said to be around 200bn and this is separate from the mortgage market (worth 1.4 trillion).

Another view; at the start of 2017, the average UK household held £13,200 in unsecured debt. I don’t have the latest figures but I doubt it has gone down.

Clearly we have a problem with debt in this country but why is that bad?

Debt comes at a cost, which is interest. The higher the rate of interest, the more you have to pay on top of the original amount borrowed. As the debt continues, the interest has more time to compound and grow exponentially. 

Credit cards in particular are designed to make us debt slaves. they ask us to repay a small amount each month (normally 2%) whilst charging an interest rate much higher which is divided by the days in the year and calculated daily! 

Becoming trapped in debt is easy if borrowing is not well thought out. If your struggling with debt then let a friend know or at least check out one of the following support resources

https://www.citizensadvice.org.uk/debt-and-money/help-with-debt/
http://www.debtadvicefoundation.org/
https://www.nationaldebtline.org/

The best way to avoid debt is to pay yourself first and save. A small amount saved each month means that you put something away for a difficult time and you benefit from interest. Yes, I do know interest on savings is pitiful these days but good habits are important.

If you’ve liked this post, then your friends probably will to. Drop it in the group chat with my regards. Why not make it Debt vs Us?

New Blog Excitement!

Here is my first ever blog post.

I hope it won’t be as bad as you think it’s going to be. A big part of starting this blog is to actively improve my writing ability so please, please bear with me!

With that out-of-the-way, I don’t have much to say for now (I clearly said to bear with me!) but I do want you to know what you can expect;

Bits on personal finance, investment tips, passive income ideas, reviews of books & investment platforms and so on.

“What else?”

A SECTION CALLED ‘MONEY MUSIC MONDAY’. COME ON!

That’s not all though, I will be chronicling my entire portfolio size and passive income month-to-month so you can see exactly how I am progressing. I will post a breakdown of my passive income every month so you can see if it is growing and how fast.

New features are going to be added as things progress.

I really do hope you enjoy your time on the site and hope to hear from you soon.

Please be sure to check the disclaimer.