Loading...

Follow SugarMamma on Feedspot

Continue with Google
Continue with Facebook
or

Valid
Learning and constantly building on your knowledge through reading is one of the most important and empowering things you can do not only for your finances but for your life in general. Here's a list of my recommendations for building your financial reading library. From how to build your share portfolio to money mindsets to a minimalist's approach zero waste and finance, these books have made a huge impact in my life and I hope they transform your mindset too!
I will be adding to this list so if you want the last additions, head over to the Resource Library.
1.Think & Grow Rich - Napoleon Hill

Written over 80 years ago and still even more relevant today. If you loved Chapter 3 in “Mindful Money”, your knowledge and awareness of our mindset, attitude and language is so powerful in ceasing and creating success. This is one my absolute favourites and it will seriously change the way you look at challenges in your life.

2. Motivated Money - Peter Thornhill

If you want to learn more about the sharemarket, in particular industrial shares and the simplicity of this powerful investment asset, I highly recommend this book. Your new found knowledge and clarity will be you ahead of the game as you realise the power of long term investing in quality investments assets rather than following the herd mentality and getting confused by the media.

3. Ordinary People, Extraordinary Wealth - Ric Edelman

In a world where we can easily become captivated by the celebrities living the glamorous life, this is a refreshing and grounding reminder of what we can create for ourselves and that it is often the simplest habits that can be the most effective. As I say in “Mindful Money” nothing is what it seems, and after reading this book, you will want to be one of those ordinary people who achieve extraordinary financial achievements. 

4. A Zero Waste Life - Anita Vandyke
Easy to read and so helpful! Not about money but full of great ideas to help you save money and reduce your environmental destruction. I have never been more passionate about living in a world where we finally realises we have more than enough and can easily embrace a zero life lifestyle.   
5. Harmonic Wealth - James Ray

One of the books that has had the most powerful influences in my personal life. Looks at our intellectual wellbeing, our relationship health, spiritual wealth, physical health and financial wealth. Great for anyone rebuilding their life and looking to do things better. 

6. The Dividend Rich Investor - Joseph Tige and Joseph Lisanti
The perfect compliment once you have finished reading “Mindful Money” and want to build your number using shares and LICs. Really valuable.
7. Stocks for the Long Run - Jeremy Siegel -
Another great book to follow on with as you work on building your number. 
8. Investing Demystified: How to Invest Without Speculation and Sleepless Nights - Lars Kroijer

I got to meet Lars in London and film three videos with him. Like Peter Thornhill, one of the nicest, grounded and most down to earth people you will meet. So honest and caring about helping everyday people learn how to invest intelligently in a world of excess information, opinions and interests. Lars has also written Money Mavericks: Confessions of a Hedge Fund Manager.

Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

A few months ago, I had the honour of speaking at The Business Chicks Event with Moana Hope in Melbourne. I was blown away by Moana’s strength, attitude and how incredibly grounded she is. Her personal story is incredible but equally inspiring is the bond she holds with her sister Vinny. Vinny goes to a special school for people with special needs, that she absolutely loves and lives for. Sadly and suddenly the school has announced that it needs to close.

The big problem is, without the Bridges program Vinny and her 90 plus friends will have no where to go during the day and nothing to do. No longer learning and no longer connecting with others. This is their community, their safe place, their support system. The flow on effect goes beyond the students, but also their families. By having day programs it means the parents are still able to work and support their families and know that their children are safe and happy.

We need your help to make as much noise about this as possible.  We pay taxes to ensure we have adequate systems in place that support us all, in the areas that are fundamental – such as health, education, mental health, aged care and support for those with disabilities. We cannot accept the closing of Bridges and we need to step up and be a voice for the students and families of Bridges and stop this from happening.

Please help Moana and Vinny by using your voice to say that withdrawing these vital services is not acceptable to you, or to Australia at large. Sign the petition! It takes no more than two minutes and your voice really counts.

xCC

Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 
Paying off your mortgage faster than the bank “prescribes” is one of the best bits of financial advice I can offer you. There are lots of different things that you can do, which I explain in my upcoming book, “Mindful Money”.

As a special sneak peek, I am sharing with you some extracts from this book. These are just some of the many tips, hacks and strategies that I recommend and personally use to smash my own mortgage, so I can promise you that they make a difference and really help.

You can use all of these, or just pick the ones you like and will work for you. And if you have an honest go at tackling your mortgage, you will be blown away but how much time, energy and money you can save.


Refinance

Keep an eye on what interest rates are around, and consider whether going for a lower option will be worthwhile once any upfront or loan establishment fees are taken into account. Only refinance if the new provider agrees to make your new term the same as where you’re up to now, or less. Set your mortgage repayments the same as what you were previously paying, or even higher if possible. Otherwise you’ll be likely to spend that money elsewhere and take even longer to pay off your home.

Pay your mortgage more often Mindset

Most loans default to monthly repayments, because you’ll pay less off your home loan, allowing the bank to charge you more interest. Because interest is calculated daily, if you can pay your mortgage repayments weekly or fortnightly, the less your balance will be and the less interest you will pay. So these more frequent repayments will have a greater impact in reducing your principal.

Say goodbye to the Rolls-Royce mortgage

Often the loans that come with all the bells and whistles, such as credit cards, offset facilities, overdrafts and special ‘private banking’ hotline services attract more expensive interest rates, no matter how well they try to package them up. The simplest no-frills loans are the most effective, as they’re easy to understand, involve less temptation as they don’t come with ridiculous products and services, and almost always have a lower interest rate.

Give your mortgage a pay rise

Every time you get a raise, increase your automatic repayment (just watch the term reduce!) by the new after-tax difference. You won’t miss the money as you never got to experience it in the first place. And if you get regular pay rises, even if only in line with inflation, this practice can really make a big difference over the long run.

Consider digital lenders

With new non-bank lenders appearing, such as Athena, there are often better mortgage options available if you look beyond the banks, as these providers don’t have the same expenses as a bank, so they can pass far better and lower interest rates on to you. Plus they genuinely want you to pay off your home loan as fast as possible. They are straight up with their rates (which are super low) and there are $0 fees…yup, that is right…$0 fees. So not just saving on your rate, but fees as well. Allowing you to pay even more off your home loan and faster!

Also, with Athena, if they lower their interest rates, their existing customers will get it too, not just new people signing up, which is a common trick used by the banks with their ‘honeymoon’ rates for only new customers. Why should the banks only “reward” the new customers?

Pay your mortgage the moment you get paid

By prioritising your mortgage repayment, you can feel the pressure lifting knowing that you’ve honoured your biggest expense first. This is less of a money-saving tactic than a psychological one, knowing you’ve just paid a big bill.

Do The $1000 Project

So many people around the world have used The $1000 Project to not only save the deposit for their home loan but also to help pay it off. This can be a great way to get your home loan term down by 30% or more, so that you can move on to investing in building your number sooner. And you can use The $1000 Project to set mini goals for tackling your mortgage at any time.

Round up

If you’ve exhausted all other options, try simply rounding up your mortgage repayment to the nearest $10, $100 or $1000. Say your mortgage repayment is $1875 per month – change the automatic direct debit to either $1880, $1900 or even $2000 p.m. That way, you’re spreading the increase over the month, and you’ll likely find that you don’t notice the $5, $30 or $130 per month less as it’s come out of your bank account before you’ve had the opportunity or temptation to spend it.

To have a play around with different options and see how extra repayments and lump sum repayments can save you tens of thousands of dollars in interest plus a huge amount of time, head to the Athena website and see what you can do to your mortgage. These are the honest, straight up guys who want you to pay off your mortgage and will help you along the way.

This story is proudly sponsored by Athena Home Loans

Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 
So much stuff! We are all living with so much stuff in our lives:

*in our houses
*our work spaces
*in our cars
*in our finances
*in our relationships
*in our minds.

We need to declutter and live more minimally and appreciate blank space.

"Nothing changes, if nothing changes."
Read that quote again and you will quickly realise that if you do not make a change your life will just continue to be one big mess.

Do you know that most Australian houses have $4500 worth of unused junk just sitting around, imagine what you could do with this money.  We are literally turning into a nation of junk junkies.  There seems to be instilled in us a habit of not being able to throw things away, from shoes to phones, even after their life has come to an end. When your stuff is not serving you any longer, is not being valued or appreciated, it is CLUTTER

The biggest troubling item for people to declutter!

The most troubling item for people to get rid of is clothes, generally due to the fact that many people believe that they will fit back into them one day. 

Causes:

*stress
*anxiety
*overwhelm

We need to tackle these troubling items.  If they do not fit, have a tear or simply do not bring us joy, then just discard.

Have a home for everything

*The minute you bring something new into your house,  find a home for your item

*This helps you to not have clutter

*Every family member knows where to return it.

*Saves time in the morning when you are looking for something

Minimalism

Another aspect to the decluttering process is minimalism. When I learnt about this movement it literally changed my whole world.  Do not think minimalism is just about having white walls and all this bare space, it is so much more than that. It is a whole mindset shift that can be adapted to every part of your life.

It is all about living with less and really appreciating people and experiences then stuff.  You do not have to be extreme and have one plate, one cup, one bowl or get rid of your book collection.  Minimalism comes in different forms and you can certainly be a minimalist in most of your life but yet have an area that is given a bit of lee way.  You make up your own rules and then stick to it. 

Mindset

Your mindset can be a very empowering thing but it can also be a big block in your advancement forward in any area of your life. So many of us give up before we try because our mind tells us from past thoughts ‘why bother’. So I want to talk about 4 mindset shifts to think about when starting your decluttering journey.

1. You are many people – you act differently in different situations and Decluttering will be no different.

2. We are the stories we tell ourselves – A lot of the time when we make decisions about whether we can do something, we tell ourselves we cannot. Just start Decluttering step by step, set a timer for 10mins and start just with that.

3. This too shall pass – in life things change, people change, weather changes, houses change…things do pass. Clutter can be overwhelming but once you start to simplify your life will change.

4. Not everyone will like you – it does not matter if you are the most famous person in the world, not everyone will like you. Decluttering and minimising is not for everyone, but that does not matter it is only what you accept in life.

About The Writer

I have always been interested in organisation and living a cleaner lifestyle. But it was only last April that I came across minimalism. This brought a whole new outlook on life for me and made me realise that living with less and appreciating blank space is the future. Having a decluttered mind not only helps with your home but also your relationships, your finances and your outlook. I am also a single parent to four amazing children and an accountant. I put out blogs every Monday and Thursday on decluttering your life and really just taking back your life from your stuff.

Website: declutterwithme.net | Instagram: @declutterwithNadine | Facebook Group : DeclutterClan

Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 
SugarMamma by Canna Campbell - 1M ago

This week I posted a video about Round 4 of The $1000 Project starting up again. This round is different from the others, in that it is much shorter, (with the arrival of baby Apple coming at the end of August) and my increasing awareness and concern of the Gender Gap.

Whilst some of the Gender Gap is caused from stepping out of the workforce to take on unpaid work in raising young children or caring for other family members, it is one that comes with expensive consequences for women, which need to be and can be proactively managed, to either help reduce the gap or even eliminate it completely.

And whilst I believe our government can do more to help around this, such as more transparency between salaries, more support with childcare and providing flexible working agreements, even greater paternal support, I am not comfortable with waiting around for this to finally happen, as by the time these changes come in, it may be too late for me and I don’t want to become a statistic.

Over the next few rounds of The $1000 Project, I will really be using it to address these gaps, both in income, superannuation and financial independence. For males and females. Showing you and educating you on all the strategies that I am using (after careful research, planning and preparation), which are all linked to my long term financial goals. You can then pick and choose what you like and what works for your financial goals.

You don’t need to (nor should you) just follow what I am doing, as my goals and appetite for risk may be different to yours. But by me helping educate you through my videos each week, I hope that you will be informed, empowered and have enough knowledge to see what works for you now, what doesn’t and what is worth thinking about further down the track as your investor experience grows every week.

So this week I shared that I am using the power of leverage for The $1000 Project investment portfolio. Which means that I am taking out an investment loan, to invest further in the portfolio. Borrowing to invest comes with risks, quite a few risks, but mostly manageable. And through this video and more to come, I show you what I am doing to make these risks, worthwhile risks, with pay offs that should help contribute towards my long term success. And this is only one of a few different strategies that I will be using a showing you, that you can consider using in your own wealth creation journey.

So enjoy watching my path unfold, feel free to sit on the side lines, jump on what you like and steer clear of what you don’t like. I never want you to do something that you don’t feel 100% comfortable with. But make sure that you don’t reject an idea because you don’t understand it, but you understand it, see the benefits but the risks don’t feel right for you and your goals or don’t feel right for you and your goals right now.

Next Money Monday’s video, I explain in more detail the risks of this leveraging strategy and what proactive things I am doing to help turn these risks into opportunities for great financial security through long term passive income. Make sure you are subscribed and your notification bell is switched on.

xCC

Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 
SugarMamma by Canna Campbell - 1M ago

I sat down with The Grace Tales to share about the value of a mindful approach to money, how I balance a demanding career whilst expanding my family and a glimpse into my accounts. Extract from The Grace Tales:

If there were two key buzzwords of 2019, they would surely be money and mindfulness. Money management books are at the top of the bestseller lists, and our Instagram feeds are flooded with the promises of what can be achieved with a mindful approach. But these two “fads” seem to have seemed to be at odds with each other. Until Canna Campbell, that is. Leave it to Canna – our go-to on all things finance (and capsule wardrobes) – to fuse together these two concepts in a way that not only makes mindful money management seem achievable, but also completely appealing.

Leave it to Canna – our go-to on all things finance (and capsule wardrobes) – to fuse together these two concepts in a way that not only makes mindful money management seem achievable, but also completely appealing.

In a world that is (let’s face it) expensive, and another ‘need’ is simply a click away, Canna brings spending back to basics and encourages us to approach our money in a mindful way. In her new book – Mindful Money – Canna outlines how look after ourselves, our families and our finances in a way that feels empowering, not restrictive.

We spoke to Canna about the value of a mindful approach to money, how she balances a demanding career with her expanding family, and we even asked her to give us a glimpse inside her accounts (cue: taking notes and making changes, ASAP). Here’s what she had to say, and as always, she didn’t disappoint

While we are experiencing a move towards more mindfulness in life, we’re still living in an age of ‘more more more’ and shopping is easier than it has ever been before. A few taps of our phone and we’ve made a purchase. How do you approach mindful spending in today’s world?
I actually love the efficiency of the tap and go and embrace the cashless society, especially as I am a minimalist. But it is the mindfulness that goes in beforehand that is most important and powerful. Taking a few moments to stop and think before deciding to purchase. Asking ourselves if we actually need this item? Do we have room for this item in our home? How will taking care of this item drain our precious resources? Does buying this limit future purchases? Or even what has triggered this desire to purchase this? The insight, awareness and clarity we can gain are quite astounding when we do this and often we end up being more selective in our consumption and enjoying our purchases with more satisfaction and fulfilment and therefore finding ourselves needing less after making a mindful purchase.
And what are your practical tips for dealing with the barrage of marketing we are subjected to? The products that pop up in our Instagram feeds? How do we stick to mindful spending?
I am a very normal mother, just like the next, I love champagne, a beautiful handbag, sneaky drop-ins to my few favourite local stores or a parous of their new arrivals whilst looking on my phone in bed at night. But I keep my list of loves exclusive. When we fill our heads and egos with too many loves it can become draining, distracting and toxic. It is perfectly healthy to appreciate nice things but the constant desire to consume is like filling a bottomless pit. When you learn to adjust your mindset and approach what you have with gratitude, you learn to appreciate from afar, without the need to have to necessarily have it. I recommending having a select few favourites and stick to them exclusively. I won’t subscribe, follow or sign up to any other stores or brands unless I am willing to let go of one of them. I have about five favourite fashions brands/websites and that is enough to cover me for what I need for all occasions and the same goes for homewares. Their products match my style, needs and expectation of quality. This is limits wasting my time and enjoying the meaningful things in life like spending time with my family and friends, getting outside, exercise and my other interests.
Social media has encouraged comparison which can lead to people feeling insecure/spending more to compensate and make themselves feel better – what’s your approach to comparison and how does impact our relationship with money?
I come across this so often in my consultations with people. And often the key ingredient missing here is a meaningful goal. When we have something that excites us and we can realistically work towards, the need for the insecure spending literally falls away and we gain perspective as to how consumerism can take over us. We channel that energy towards building something that is going to serve us on a deeper level.
Talk us through how you manage your money mindfully each month.

I recommend keeping it really simple and nicknaming your account with its purpose:

1. Everyday Account– (daily, monthly, weekly fortnightly) – think coffees, dry cleaning, gym membership, school fees, insurances, with a linked debit card and all direct debits coming out from here etc.

2. Life + $X Emergency Account– this is like a float, I stockpile this account for Christmas presents, birthday presents, quarterly bills such as water, rates, utility etc. But I also have a lump sum available there at all times for a major emergency. I recommend putting in the nickname the exact amount of emergency cash you have allocated. For example, nicknaming your account “Life + $10,000 Emergency Cash Account”. This stops the temptation to accidentally spend your emergency money and you can easily distinguish between your float and emergency money. This account gives me a huge comfort knowing that if anything suddenly came up out of the blue, we would be okay.

3. Financial Goal Account– this is where I put money aside to invest in my future financial security. Which for me is building passive income as that is my definition of financial freedom. i.e. creating enough income from my investments, so that I don’t have to work if I don’t want to. It gives me great comfort knowing what I am working towards and how quick and easy it is to do.

4. Holiday Savings– where I regularly put money in this account for those weekends away, school holidays and big annual overseas trips. Adding money to this account and watching it grow helps keep you going, knowing that your next holiday is going to happen.

In her book Mindful Money, Canna details how to use the four accounts to reach your financial goals and automate your finances for those who are busy and time-poor. Pre-order your very own copy here>>

What tools will we walk away with after reading mindful money?
. Understanding the way our minds work around money and how to motivate ourselves to embrace our financial health and feel proud . Know how to quickly and easily manage our budgets realistically . How to make a big dent in our debt and pay it off quickly Why we should be building passive income and how and where to start . The best way to properly invest for our children and their future financial health The most important feature your superannuation account must have so that you don’t get caught up in large tax bills when you retire. Missed by most financial experts and could save you hundreds of thousands of dollars.
What are some of the challenges you’ve faced as a working mother and how do you overcome any challenges?
Juggling to get it all done – I am overly ambitious in what I think I can get done in one day. So I try a look at what can be done in a week, and try not to overload my list. Spread those things that don’t get done, through to the next week.
What is your advice to working mothers?
Prioritise your physical, mental and financial health. You can’t pour from an empty cup. Know what simple things make you feel human again and prioritise them into your week by scheduling them in like an important meeting into your diary so that they happen. For me, this means time at the gym, time at a café by myself, having 10 minutes each night to do a quick tidy of my home. Be kind to yourself and take it one day at a time. And never be afraid to ask for help.
Talk us through what 2019 has in store – a book, a baby … !
…and sleep! I am planning on slowing down once baby apple arrives (famous last words), I really struggled mentally after my son and I am determined to be kinder to myself this year. I am mentally telling myself the 30thof December is actually the 30thof August this year so that I don’t book myself up with new projects and run myself to the ground. That way by having a clean slate for 4 months, I can pick and choose if and how I want to work and on what passion projects. This time I am putting myself first. 2020 I will see how I am coping and base my new routine around what is best for my family and what makes me feel happy and whole.
Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

One of the many blessings that comes from doing The $1000 Project is that it helps open your eyes around all the different ways to not just save money but make some extra money. So often we think that saving up for something is about having to cut back or deprive ourselves. However this is a limited way of thinking, as we can only remove so much. But when you think about making or earning some extra money, well…the sky is the limit.

One of my new favourite ways to make some extra money without any extra effort, is doing all my online shopping through Cashrewards. It has taken a little bit of getting used to, but mainly that is actually reminding myself to go through the Cashrewards website before doing my shopping, but since joining Cashrewards only 2 months ago, I already have it down pat.

Already within 2 months, I have earned over $80 in cash given back, simply from doing my usual standard shopping

And already within 2 months, I have earned over $80 in cash given back, simply from doing my usual standard shopping. It has not cost me anything, hasn’t involved me doing anything and is really quite enjoyable watching my savings grow. Each time I log into my account, my balance gets bigger. 

So I have decided to set myself a Cashrewards challenge, were I want to see how quickly I can earn $1000 to put towards Round 4 of The $1000 Challenge. To help maximise my cash back, as well as yours and everyone else’s, I would love you to share your best hack for maximising the money back in your pocket with Cashrewards. And as a thank you, you will go in the draw to win three one on one financial coaching sessions with me, worth $726. These sessions are really powerful, where I show you how to budget, how to set financial goals, and how to clean up your financial health so that you can go from strength to strength.

To enter the competition, watch the video below, share your tip or hack in the comments box below on YouTube, subscribe to my channel, and the best advice will win 3 x 1 hour financial coaching session with me worth $726, which can be done at a time that suits you over the next 6 months, over Skype, FaceTime or even in person with me in my office in Darlinghurst.

So good luck and I can’t wait to hear your best tips as we all watch our Cashrewards grow everyday!

xCC     

How to Make Cash From Shopping! Win $726 worth of Financial Coaching One on One with me! - YouTube
Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

As Round 3 of The $1000 Project comes to and end, and I have to face the reality of only achieving 62% of my goal, I have to stop and be kind to myself. I genuinely worked hard, but I had some challenges, set backs and distractions along the way. And I have to make peace with that and know that there is always another chance, another opportunity another round to The $1000 Project.

This second last $1,000 actually came from selling a handbag. I actually did love it but it was bought for me many years ago from someone I had to let go from my life. So every time I looked at it, I felt a bad energy and whilst I tried to sweep that feeling under the doormat, I realised it was having a negative effect on me.

So I sold the bag on eBay and have felt a welcome relief in letting it go. It was quite a classic bag and one that worked with so many outfits, so eventually I will need to replace it. But in the meantime I feel no rush to replace it and if anything, I am enjoying the time researching other bags that might be a suitable replacement and researching as to where is the best value for money.

The second and last $1,000 came from a wide variety of sources. Market Research, Frugal February, selling items on Gumtree and eBay and some weekend work. The last $1000 was slow, but a message that after 12 months, I need a mini break to recharge my batteries and focus on some of my other financial goals.

This break will be a mini one as I already have some exciting plans. But I can conclude Round 3 with announcing that my final estimated passive income comes to $4,556 p.a. and I have almost $255 from last minute dividends paid and another market research job which will give me a great head start for Round 4.

xCC

Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 
SugarMamma by Canna Campbell - 4M ago

I am so proud to share with you where this $1000 came from, especially as there is possibly more to come! I was chatting with some other small business owners, sharing our challenges, ideas, inspiration, tips etc and two people mentioned that they had discovered some government grants that their business were entitled to.

These grants range in size and type and there are reasonably strict qualifications, however I found one through Austrade that supports small business who are marketing their businesses overseas, to sell products and services to international buyers.

To help me with this grant, I actually hired a contractor as the application process was quite lengthy and I want to make sure that I got it correct the first time. So after various questions, form completing, receipts being reviewed and checked, my application was finally approved and I was given a very much appreciated government grant.

Whilst it is the small business owners choice as to how they wish to use this grant, I chose to pay myself a $1000 after tax bonus and invest the rest of the grant back into the continued growth of my business. And the news gets even better, I can reapply for this grant next year, but at a reduced rate, for a couple of years in a row, which is extremely exciting!

With this $1000, I actually added a new investment to my portfolio, I invested in The BetaShares Nasdaq 100 ETF  which provides access to a diversified portfolio of companies that are listed on the Nasdaq, including companies that provide services that are now part of our everyday lives. Companies such as Google, Apple, Amazon Netflix and Tesla. Companies that I have wanted to own for a really long time, but have been to expensive to access individually and too challenging to diversify across.

This is a relatively new ETF, and the estimated dividends are really low for the time being, however long term this should help meet my long term capital grow goals whilst also adding a unique but diversified element to my portfolio. The estimated yield is actually only 0.5%, which is an estimated passive income stream of only $5 p.a. with the current value of the stock, however long term that 0.5% annual yield based on an ETF that has grown in value, can be extremely valuable. Progress 66% now.

xCC

Read Full Article
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 
SugarMamma by Canna Campbell - 5M ago

This $1000 parcel comes from a lot of pride and satisfaction. This is $1000 from the advance for my next book, coming out in July! Whist I was paid more, I decided to only pay myself $1,000 as an after tax bonus, especially as I literally worked around the clock, around the world, writing my first draft which was submitted in September 2018. However I only just got paid. (Talk about patience!). And it is quite ironic as one of the money hustles that I recommend for The $1000 Project, is to write a book or even an e-book.

You don’t necessarily need a publisher these days. You can write your own book, hire a freelancer ghost writer, proofreader and even illustrator quite economically and even have the books printed yourself. And whilst this may require an initial investment, you get to keep 100% of the profits, whilst when you use a publisher, you only keep 10% of the profits.

These royalties are an excellent example of passive income, and if your book is popular and consistently sells (rather than being a hot/fashionable topic), it can also be a very consistent source of passive income if you can market it well.

Now you may be thinking “what can I write a book on?”. Well if you look online you can buy ebooks from how to heal a broken heart, to how to cook a roast chicken, to how to get a baby to sleep, to how to train your puppy. The ideas and opportunities are endless and if you have a helpful tip, knowledge, experience or expertise – you can actually help and add value to a wide range of peoples lives. Value that people will pay for.

Now on that note of value, I noticed that ANZ was trading at a discount still, with an estimated yield exceeding 6% p.a. My research indicated that most brokers and analysts had ANZ as a long term buy, with dividends expected to continue to grow in the long run. Seeing this capital growth opportunity as well as passive income collection, I purchased another $1000 worth. (Please refer to general advice disclaimer as I am not recommending that you buy ANZ stock, I purchased this stock based on my personal financial goals and my High Growth risk profile).

This now takes my estimated passive income to $4,625 p.a. which is almost 66% of the way towards achieving my goal. The reality of not achieving my ultimate goal of $7,000 p.a. in passive income is settling in, however with The $1000 Project, you create your own deadlines and rules. So I may look at extending my deadline.

Additionally, I still have Frugal February coming up, so if you haven’t switched on your notification button, please make sure you do so right now as I am going to be making weekly VLOGs for you!

xCC

Read Full Article

Read for later

Articles marked as Favorite are saved for later viewing.
close
  • Show original
  • .
  • Share
  • .
  • Favorite
  • .
  • Email
  • .
  • Add Tags 

Separate tags by commas
To access this feature, please upgrade your account.
Start your free month
Free Preview