Day 6/Post 6
Back to Funding Your Portfolio
- Bottles in the ditch
- The money you have stuck in piggy banks or a particular draw, you have time now to count it, roll it, and put it in the bank.
- Too many duplicates, of paid apps, get down to the essential ones, if you have not used in an app in a week, stop the madness and use the extra funds, even a couple of bucks a month per app could be $100 or more over a year.
- Get your yearly credit fees waved, right now the banks are offering all kinds of financial aid.
- Service charges, reach out to your bank or other institutions you are paying service charges and ask for relief.
- Memberships sites, how many membership sites do you belong to that you have not used in the last week, No Use, No Value.
- Paid subscriptions, too much value for free right now, unsubscribe
- Not eating out, use these funds, my wife and I miss eating out 5 to 6 times a week, lunch or supper. ( This could easily be your seed money, $1000)
Take a deeper dive into your daily habits; there are more funds to be found.
Before the coronavirus pandemic broke apart our world as we know it, our coffee machine broke down.
Our small appliances have been very good to us and ten years plus is the life we enjoy. I wanted to buy a new coffee machine and saw one I liked, and the reviews were excellent.
My wife was not a big fan of the price and said you have a Keurig Single-serve. I was buying the Keurig pods on sale between $7.99 and $9.99 at an average cost of a pod pack of 12.
When I showed my wife using a minimum of 3 Keurig pods a day, I could purchase this new fancy, dancy coffee machine and pay off in two months from cost savings. Yesterday I got my new coffee machine and enjoyed my first cup of freshly ground coffee in several weeks.
Okay, we are not using these funds for investing, but a couple of suitable cups of Joe, gets my morning brain in gear, and I can understand the financial charts clear. I also use my first two cups of coffee to watch the financial markets unfold for the day.
My wife and I loved going to Starbucks at least once a week, and our average monthly spending was $23 a week, close to $100 bucks a month. Starbucks shut down all its stores, including drive-thrus in Canada, on March 20, 2020, and we have no idea when they will reopen. I understand why.
How do we continue to purchase Starbucks; through the stock market? We decided to take our weekly Starbucks spending over the next several months and buy some Starbucks shares.
There are different opinions on whether people will return to Starbucks because of close contact with people.
My wife and I feel we will return to hanging out at Starbucks. I have written some excellent blogs over my latte. Based on our decision to support Starbucks when they reopen, why would we not purchase Starbucks stock and know in the future, we have a small ownership stake in a company we enjoy.
Again there is no right or wrong answer at this point, we went with our gut and purchased shares (we bought at $66.07, and on April 9, 2020, the stock price was $73.88, this is part of our mid-term buy and hold strategy, Starbucks is still paying their dividends) By the way, Starbucks average year’s stock price is $84.17 with a High of $99.11.
Why not have a look around at company’s you support and enjoy, look at what the value of their stocks a year ago and in mid-January 2020 and review the stock price now. Are they paying a dividend and with no talk of suspending their dividend. If there is a large spread in stock price now to their average stock price over a year, and they are paying a dividend, why not invest a little of your found funds.
Have Fund with finding and unearthing money to fuel your future.
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