My first day into Stock Market

A month ago I’ve chosen to open up an account with the low fee broker Questrade.

I’ve made an initial investment of 400.82$ on ETF as my first trade. I’ve bought 10 shares of VDY.TSX at 31.75$ and 4 shares of ZRE.TSX at 20.83. These two ETF are paying dividend monthly.

For the month of April, I’ve received a total of 0.97$ of dividend.

Last week, I’ve added 1 share of VDY at 31.19$ for a total of 11 VDY.

With these ETF, I am trying to build up an investment fund. In the future, I will use this fund  to buy  some stock company that will give me some dividend. I’m trying to go towards the dividend investment strategy to make my money work for me.

My strategy,  every buy I make in the future and why I’ve chosen these two ETF to start will be discuss in detail in the next couple weeks.

Saving money on my phone landline

Saving Money Phone Landline

Hello readers, with all these things moving in my life and the baby on his way, I’ve chosen to see where I can start to cut my recurring fees.

First thing I’ve chosen to look was my service provider bills. I’ve started with the telcom fee and more precisely my phone landline. Actualy, I’m paying 19.99$ monthly after rebates for a simple landline without any option and long distant call. Personaly I am not using this phone since I’ve unlimited local voice call on my cell phone, but my wife use it almost every day.

I’ve looked for some alternative and I’ve stopped my choice to voice over ip. I’ve chosen the company voip.ms since they are in Canada and have some low price for incoming and outgoing calls and have mostly all the possible option for free. The monthly fee will depend on our usage, but we will pay monthly 0.90$ for the phone number and 1.50$ for the e911. With that,I will transfer my current phone number for a one-time fee of 10$ and I’ve bought a Grandstream ht701 Analog Telephone Adapter (ATA) to use our current phone for 42$ on amazon. So the setup fee will be 52$.

I think I will save around 15$ a month using this solution. With the setup fee, I will be saving money in a little more than 3 months.

I don’t know where else I will cuts some fee, but after that, I will keep trying to find some way to pay less on my recurring fee.

Update on goals

Almost 6 months since my last post so it’s the time to update the goal I’ve made.

Update on the last goal 

  • Goal 1 : Get 2000$ ahead to cover the expense of next month On its way

I am now at around 1000$ to cover next month expense.

  • Goal 2 : Add 100$ month in my RSSP On hold

I’ve added more than 400$ between December and February. This money will be used for the first buyer home plan. Since I’m looking to use the money in the near future, I’ve choosed to put the money for a house in a TSFA account. This goal will be put on hold for the moment and this money will go towards the goal 7.

  • Goal 3 : Add 100$ month in my Emergency Funds Failed

I’ve not added any money towards this goal since the goal 1 will be a little emergency funds of one month.

  • Goal 4 : Get a new tablet Failed and cancelled

This goal will not be completed.

  • Goal 5 : Keep this blog updated Failed

I’ve failed to update this blog regularly since i’ve had too much stuff moving in my life. So for the next 3 to 6 months I will try to update it regularly.

  • Goal 6 : Trade cryptocurency. (Bitcoin, Dogecoin, Litecoin …) Success

I’ve traded some cryptocurency and almost double the amount I have. I have used the around 1/3 of it to buy GTA V.

 

New goals

Now it’s time to setup some new goals for the next months.

  • Goal 7: Add or speed 100$ biweekly for the incoming baby.

I’ve got some great news last month … I am waiting a baby. So I need to buy a lot of stuff for this baby.

  • Goal 8 : Make at least one trade in Questrade by trimester

This goal is set to avoid the inactivity fee of 25$ when the balance is less than 5000$.

 

I will keep you updated more regularly this time.

Goal

Now for this second post, it’s the time I setup some goal to achieve.

I will set them for the next couple month (3 to 6 month) :

  • Goal 1 : Get 2000$ ahead to cover the expense of next month
  • Goal 2 : Add 100$ month in my RSSP
  • Goal 3 : Add 100$ month in my Emergency Funds
  • Goal 4 : Get a new tablet
  • Goal 5 : Keep this blog updated
  • Goal 6 : Trade cryptocurency. (Bitcoin, Dogecoin, Litecoin …)

I will keep you updated.

Starting this new adventure

Have you ever wish to stop living by paycheck ?

I’ve got this problem too and I want to be able to live and stop worrying about if I have enough money to pay the next bill while waiting on the next paycheck to be in my check account.

So I’ve started to use YNAB to keep a track of every dollar I spend and to live by their 4 rules. This app start to give me an idea of where my money is going.

So I allocate each dollar every month a category to be spend and start to create a buffer to live on the last month paycheck. So by doing that I will stop living paycheck by paycheck. Since this money is budgeted, I will not speed it on for any reason.

Now I also need to start an emergency funds. This emergency funds will be use if we need fast money and we don’t have enough. To start I am aiming of 2 month of money in this funds to be keep at tangerine. So this money is about 4500$. Once my buffer is completed I will get more money in this account to get more than two month of funds.

This is my first post but more will come and i will post regularly my performance toward my goal.