Here we are for the July Update of my Financial Goals!
Also July has passed and like every beginning of the month I like sharing with you the progress of my Financial Goals. If you want to read the June update, you can find it here. My suggestion for you is to read the previous updates in order to understand my progress in each goal. Achieving these goals is a long path and in my opinion they make sense only if we follow their progress from beginning to end.
If you’ve read my last Passive Income Report you may know that in July I earned far less than June, but in any case I’m very happy about the final result (Spoiler! 125 EUR of Passive Income).
But now, check out my Financial Goals progress!
#1 – Reach a 7500 EUR P2P lending portfolio
Just like in June, in July I did not add money on the P2P Lending or Real Estate crowdfunding platforms that I’m currently using. I’m still saving money for my first investment on ETFs. For the moment I limit myself to reinvesting the earnings.
My P2P lending portfolio is still stable at 4100 EUR. You can check the composition of my portoflio whenever you want on the page My Investment Portfolio. Yesterday I completely renewed the page because during June I sold my KO stocks and so I had to modify the graph of my Investment Portfolio and also the related table. Check the page out to see the new composition of my portfolio!
#2 – Earn 1000 EUR of Passive Income
I’ve already achieved this goal in June. As you probably know when I set this goal I never expected such a result. In July I earned 125,00 EUR of Passive Income. If I add them to the previous total I obtain the amount of 1481,67 EUR of Passive Income in the first seven months of 2019.
Remember me to set this goal a little bit higher next year!
#3 – Have 10 different firms in my stock dividend portfolio
In July I received dividends from my KO and CSCO stocks for a total of 2,09 EUR. Then I sold my KO stocks, so at the moment I only own CSCO stocks as you can see in my Investment Portfolio. I sold them because I want to dedicate that money to ETFs. That’s why I’ll probably sell also the other stocks.
If you have any advices about which ETFs I should buy, let me know in the comments! I always appreciate your interaction. I already have an idea about 2 or 3 ETFs to buy. I’ll let you know everything in future so stay tuned!
#4 – 15 different cash flow sources
The latest sources I added were eToro and Lenndy in March. From them on I’m stable with the same sources. My thought is always the same: I think that before trying new platforms I should increase the balance of my current platforms. In the latest months I’m saving money to invest in ETFs, although I believe I need 2 or 3 more months to save enough money to start.
#5 – Read 5 financial books
I’m currently reading “Principles: Life and Work” by Ray Dalio, the founder of Bridgewater Associates. He explains the principles that he follows in his life, and I think that can be extremely useful to read a book like this.
In the last 2 weeks I have been on vacation and I have brought with me only the Kindle on which I’m reading the fifth book of “The Expanse” series.
If you want to buy “Principles: Life and Work” I’ll be pleased if you buy it from this link: Amazon IT [25 EUR] (Link)
#6 – Increase my Net Worth by 20%
I updated this goal at the end of June. Next update will be at the end of September. I’m on the right track to achieve this goal for sure!
Finally, a list of useful things:
Do not forget that I opened a Facebook page for FinanceShot. You can find it here. Like it if you don’t want to miss anything or interact with me. It’ll be a pleasure for me!
Moreover, if you want to receive my posts directly on your email, remember to subscribe to the blog by inserting your email in the form you can find on the bottom right of the blog.
I also opened the official Telegram groups for FinanceShot dedicated to my readers. You can find here the italian group and here the english group. We’ll have the opportunity to discuss about all the topics covered by FinanceShot.
How are your financial goals going? Are you satisfied about their progress? Let me know in the comments!