How is November over?! We’re into the final month of 2017. That seems crazy; this year has flown by. It will be interesting to look back on my second full year of dividend investing and see just what has happened throughout the twelve months. I already know that it’ll be a good post at the end of the year 😉
Some months are so much better than others as the income received varies so much. The last months of the year for me seem to be quiet in terms of payments. But, it all adds up 🙂 I have been dividend investing for a while now, to create another passive income stream. Although I need to keep an eye on the market and the companies I am invested in, it is fairly passive in its nature. I have it set so that the dividends are kept in my isa and so I can reinvest them where I see appropriate immediately. I sometimes save them so that I can invest in a big lump sum when I transfer my savings over for the month.
Eventually, the aim is to use the dividend income to pay some household bills. Things like council tax, or water rates. That’s when passive income really takes over. We are such a long way off this! However, it is definitely a long term goal. At the moment, I am aiming for my first three figure month from dividend income alone. Paying recurring expenses with dividend income alone is something that would make our early retirement dream even more viable.
The dividend income received in November is a combination of dividends from shares and funds. There are always going to be swings in terms of how much income is produced by dividends, just because different holdings pay out at different times. In November 2016 I received £9.79 in dividends. Not much really, so this year is better.
Dividends received in November:
- CF Woodford Equity Fund – £1.19
- ITV Plc – £5.04
- Morrisons – £2.49
- Next – £9.00
- Premier Monthly Income – £0.62
- Standard Life Inv UK Real Estate – £0.56
So, a lot lower than October’s dividend income. Not bad I suppose! And better than last year, so it’s building up slowly but steadily. This would pay for my mobile phone bill for the month, so it would cover a small bill. Also because my holdings are within my stocks and shares ISA with Hargreaves Lansdown, I don’t pay any tax on them either.
As I wrote about the effect of the magic snowball, mine is beginning to move slightly. By reinvesting the dividends, it’ll only create more income. I believe that continuing to live a frugal lifestyle and save as we go along will see us right in the end. I hope this is inspiring someone else to begin their frugal journey. If we can do it, anyone can! We are not depriving ourselves of anything, just making purposeful choices and it’s beginning to pay off. It can sometimes be difficult, but I need to remember why we’re doing this 🙂
My dividend income aim for 2017 is £300 received. At the end of November, I am up to £469.78 so I’ve smashed through my target! Although the final months in the year are generally lower income ones, I’m still earning money right through. I thought I was being optimistic when I set that original goal of £300 received. Will I get to £500 received by the end of the year? I hope so!
Have you received any dividends this month? Thanks for reading!
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