January went swoosh. I mean, wow. The time just flies by.
I’ve got my monthly passive income report all set to look through with virtual paperclips and cliff notes. This year I hope to get all 12 months posted—and I’d like to take a look at a yearly report for 2020 in the near future.
But let’s get away from my lofty goals and get into it.
Dividends are my favorite. Stocks in general are such a boon to savers—how else can you increase your savings by so much? While the stock market is rambunctious at times, if you hold on for the ride, you’re sure to be rewarded. Dividend stocks are considered less risky by experts because historically dividends are an option that strong companies select as a way to pay their shareholders. Research has shown that dividend stocks tend to remain more stable over the long run. Payout and stability! This month I made a total of $105.78 from dividends. This amount includes stocks from both my regular stock account and my Roth IRA. Here’s how January stacked up:
Global X SuperDividend US ETF (DIV) 6 shares .60
STAG Industrial Inc. (STAG) 10 Shares $1.20
Realty Income (O) 40 Shares $9.38
Preferred Apartment Real Estate Investment Trust Company (APTS) 100 Shares $17.50
LTC Properties Inc. (LTC) 20 Shares $3.80
General Mills (GIS) 10 Shares $5.10
Invesco S&P 500 High Dividend Low Volatility ETF(SPHD) 50 Shares $7.47
B & G Foods (BGS)70 Shares $33.25
Verizon (VZ) 15 Shares $6.28
AT&T (T) 60 shares $31.20
American Express Card
After having continual difficulty trying to access my Bank of America Visa card account, I really appreciate my American Express Card. Everything about it works seamlessly—it’s like butter, as they say. Plus, it gives me a heck of a lot of cashback bonuses. This month I received $45.23 in cash back. Remember, the American Express Card pays me a huge 6% back on grocery purchases—this is by far my largest expenditure and so, for me, this card really helps me save cash. You may be wondering what my credit card balance was. I just paid the bill and it was a little over $1100. It seems a little more than I’d like to pay so I will be doing a little reining in when it comes to my spending. Our income is seasonal and the winter time is by far the worst time for us. Not only do we make less money but we also spend more when we pay off our taxes, home and car insurance, and property taxes.
This month I earned an abysmal .63 in interest. It’s not entirely my fault—but, I could have stuck to my guns and gotten a better interest payment if I’d simply followed my banks protocol of one deposit and 15 transactions. The thing is, that this is the time of year where I need to reconnect with my saved cash in order to pay off taxes, property taxes, and insurance. Once that is accomplished, my focus for the remainder of the year is saving for next years taxes and insurance and gaining interest along the way. It’s not a total loss.
Besides passive earnings, this month brought some good news and some bad news. The good news is that I was able to purchase 5 more shares of VZ stock at a relatively low price of $54.28 per share. Verizon is a solid company with good recommendations from a number of sources including the Motley Fool. I own a bit of VZ now, but as I was looking over my portfolio, I noticed it was in the red. I quickly looked it up and found that VZ has dropped a bit, but that they have big plans and a definite ‘buy’ from reasonable sources. Verizon also has a good dividend, 4.62% and that’s good enough for me.
The bad news is that I may be shopping around for a new favorite high-interest account. Tab Bank, my trusty savings friend continues to lower their interest rate. I’ve just been informed that it is now lowering the interest rate to 1.5%. Looks like I’ll be heading out of that establishment and onto another.
In similiar news—-my main brick and mortar bank pulled an oddball ”fast one” on me. After depositing a check into the ATM, I found out that my deposit was not immediately placed into my account. I received a phone call from the bank manager and he told me that it was ‘bank policy’ to place a hold on a check that was larger than my normal deposit. Hmmm. Interesting. Personally, I did not like that the management has the ability to randomly make a spot check on my account. Although, I do understand that given the current Covid circumstances, banks are probably having to be more vigilant.
Still, the combination of banks—one lowering their interest rate and the other placing a hold on my check makes me wonder if it isn’t us—the consumers—who need to be more vigilant.
Have a great week,
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