Payday! December 13, 2019

Money tree
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It’s Christmas time, and I just got my first paycheck for December. I’m always excited for payday, so I can invest more money into stocks and do some saving for another rental property. 

My paycheck

There is still no change in my paycheck for December; I’m riding my nine exemptions and seeing how close I get to a $0 tax return. I use to use five exceptions, but Grant Cardone motivated me to try nine. I might end up owing, but since I got a refund the prior year, I shouldn’t have to pay the penalty if I do owe over $1000. My paycheck was $2,510.79 on Friday, now let’s go through our spending budget and see how we do for investing in this paycheck. 

My spending

I try to maintain a $644.31 spending budget, but this month I went over by quite a bit. I took my car for routine maintenance. Which had to replace two parts, and that blew past my budget. I had a total of $864.14 between my three credit cards. My investing will take a hit this paycheck. I usually would pay the $644.31 and try to underspend the next paycheck, but since it’s the holidays, I will pay off the whole balance. I also set aside $1,201.92, which is half of my mortgage to another checking account until payment is due. 

My Investments

After my credit card spending and mortgage, I have $444.74 for savings and investing. I have been putting $500 into Wealthfront and $164 into Robinhood. The Robinhood cash management account was just released, and I got accepted from the waiting list, so I will have all my money in Robinhood from now on instead of splitting it. I also withdrew my Wealthfron balance and transferred to Robinhood. If you are interested in using a Robinhood account, use my referral code to sign up for a free account, and get a free stock. If you like to get more free stocks, you could also sign up for WeBull and get two stocks when you deposit $100, using my referral code

What’s next?

I have been creating an index fund of dividend-paying stocks. My list currently has 166 companies I don’t mind buying. I have been mostly watching the price of the companies I pick, and when the stock price falls where the dividend reaches a 4% yield is when I would potentially buy it. I currently own stocks in 52 of the 166 companies. This list might be something I write more about in the future. 

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