Money House Cleaning: Long overdue methinks…
I don’t know if you have noticed, but I have been feeling like my money situation has sort of been lax.
I haven’t been looking at dividend stocks, I haven’t been really following anything except tracking spending which is dead easy with my budgeting tool and making sure I clear my cards each month (no debt!), but for the other stuff like making sure I set my financial canoe sailing in the right direction, I have sort of been adrift..
Sort of like this.
But obviously not as sexy.
I have been busy AF at work. The stress level is astronomical with the impossible deadlines for things they expect in a week that take me 2 months to formulate (oh and AT THE QUALITY of 2 months by the way, but completed in a week…), and I keep telling myself: Next month. I’ll handle it next month when things calm down.
This is all fine and dandy, but it has been nagging me at the back of my mind and sort of bothering me.
Like a money gremlin.
A cute money gremlin, but a gremlin nonetheless.
I need to do a few things between now (today) and end of this month:
- get a list of dividend stocks and target prices going – I like paper for this, don’t ask me why. I have a Moleskine notebook for this where I write down ideas and designs, take notes on serious matters (e.g. cryptocurrencies, investing) and the like – I pull it out occasionally and flip through its pages
- start reading up more on the health of the stock market – it went down and now it’s back up? what are pundits who are far smarter than me, saying in forums lately?
- clean up my emergency fund / savings financial house – I have a contract until end of this year, let’s plan accordingly
- take stock of my spending (groan)
- do a realistic assessment of how far X amount of money in cash can take me, and make sure I have it on hand (taking into account incoming cashflow from said contract), to ensure I can still pay my taxes easily, pay for expenses and still maintain my level of living like the queen that I am
Time to carve out this time or it’ll never happen
I already did a few things today that has made me feel a lot better that I am doing something and not saying: “Oh … tomorrow, when I have time“.. because with this contract, the way I am being run into the ground, I WILL NEVER HAVE TIME.
Today alone (this is how lax I have been) I only just realized that Simplii is offering 3.15% back on high interest savings for amounts deposited until Feb 28th 2019.
HOW THE EFF DID I MISS THIS?
It started NOVEMBER FIRST. What was I doing?
Eating KitKats, I am sure.
So, I spent the morning taking stock of my accounts, and then transferring about $130K from other accounts that I had in ready cash to funnel into Simplii.
$130,000 x 3.15% = $4095 / year
$4095 / 12 = $341.25
I am expecting at least $1023.75 in earned interest by the end of February 2019.
I made notes in my planner to also transfer this money BACK OUT to where they originally came from (various accounts to cover cash flow for bills and the like), and more notes to keep funnelling money back into this high-interest savings account to maximize as much cash back as possible while making sure I have enough cashflow to cover the next 4 months in expenses.
Long story short, that’s done, next on the list is to figure out this dividend piece.
Oh and stockpile cash.