Starting point

So now that we have a reference point for my portfolio and the income it provides. It is not exactly the starting point from zero passive income dollars but a starting point at least.

Psst…If this is your first time at my blog please read this post first.

Review my previous investing post

Where do i go from here?

I want to increase the amount of income at a faster rate.


I can not simply move all my assets to the highest yielding securities as this would more likely than not raise the risk if what i feel is already an aggressive portfolio.

I can not simply invest all my working income into the stock market and neglect my current expenses. Especially with the assets being in retirement accounts.

Therefor before investing any more money into the stock market I would like to build my short term savings back up since I recently had to use funds from there. Also I would like to lower my total debt level as that has gone up recently as well.

This will be my primary focus for right now. The beautiful thing about my income investing strategy is that my income will continue to grow even without adding more money to my investment portfolio.

So the short term target would be to add $500 dollars back into that savings account.

Another short term target would be to lower my credit card debt level by $500 as well.

Challenge to myself

Focus on reducing my daily expenses and bad money habits so that i can invest more while putting some towards current debts.

I intend to save this money by eliminating and reducing some of my daily purchases.

1. Quit smoking

This is a no-brainer. Its bad for my health and my wealth. I have already purchased a vaporizer to help with the initial cravings. Expected weekly savings-$49

2. Drink my own coffee

Instead of buying energy drinks or “fancy” coffee every morning. Almost everyday I spend my hard earned money to “get energy.” Expected weekly savings-$28-$56

3. Bring my lunch to work

While it is a little harder to plan ahead and bring lunch the savings will add up quickly not spending $10-15 a day on lunch. Expected weekly savings-$50-$75

4.Don’t eat out for dinner

Similar to bringing lunch it is easy at the end of a long day to make the excuse and pick up something to eat on the way home. Expected weekly savings- $60-$120

I will track how much I save by making these changes to my spending routine.

I will also track my experiences planning and cooking my meals.

I am hoping to become more organized with my spending and a better cook.

I am excited to see how rapidly I can meet the short term savings and debt reduction targets.

I am equally excited to start seeing the health benefits of eating home cooked meals and not smoking.


One thought on “Starting point

  1. Pingback: My first month blogging – Evan's Way

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