Sorry for the delay in my postings, September has been a very busy month for me. I've been working very hard at my job and preparing for my first Fall as a homeowner. Everyone seems to work hard for their money but since I've discovered dividend investing, I've finally found a sure fire way to make my money work for me.
My total dividend income was $368.21 for the month of September. I was probably watching T.V. or deciding which ice cream I wanted for dessert when my dividends were paid to me; that's about how hard I work for them. My dividend income for last September was $284. That 29.5% increase was brought on by dividend increases and re-invested dividend income that I used to purchase more shares. My compounding machine is coming along quite nicely even though the markets are turbulent.
INVEST OR PAY OFF DEBT?
It's very tempting to funnel money away for investing purposes, especially when the markets are low. I think it's important to find a balance between paying down debt and investing in the stock market. If you have a mortgage, you'd be a fool not to make extra payments when you have extra money to invest. It seems painful I know, paying even more money then what that bank takes out every month, but those extra payment go right to the principle which lowers the amount of money you pay in interest each month.
To show you how big of a nerd I am, I will let you in on a secret of mine. Every two weeks when a mortgage payment goes through, I compare the old balance to the new balance and find that the amount that goes toward the principle increases by .29 cents each time. My wife thinks I'm crazy but I get excited knowing my mortgage is slowly getting smaller and smaller. Perhaps I am a little "Loonie".
To my dozens of readers, do you have any quirks when it comes to paying down debt?
2 comments:
The 29 cents you save will only increase over time! My mortgage isn't due until 2013, I hope I can still get a good interest rate when I renew it.
I hope you get a good rate too. I've made 15 payments so far and the amount that goes to principle increased almost $4 per payment. Not much but it's a start.
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