March 2008 Results
Well, It has now been a month since we started this experiment. It is now time to see if we lived up to our plan and made on average $1 per day for the month of March.
The Starting Totals for March:
My Savings Account: $256.24
My savings account is though a credit union that you must be a relative of to get in, I got in through my Great-Grandfather a few years before he died.
My Investing Account: $672.40
I hold positions in General Electric, Coca-Cola, Microsoft, AT&T, Napster, & Sirius Radio. All of my dividends are automatically re-invested into these companies.
My Money Market Account: $25.79
This is handled by the same company that handles my investment account and at any time I can move this amount into my investment account to purchase stock.
My Personal Loan Account: $238.82
Currently Loaned: $206.02
Waiting to be Loaned: $32.80 * does not make any of interest while waiting.
Thanks to Prosper.com I am able to make loans to individuals and make a lending fee off of each loan. If you want to join Prosper let me know and I will send you a link and we will both get an extra $25.
The ending Totals for March 2008 are:
My Savings Account: $256.24 <0>
A net change of <0> becuase interest/dividends are paid out quarterly and even though March is the end of the quarter, I have yet to receive a statement telling me how much interest was incurred. I will receive it in a few weeks and they will be reflected in April's results.
My Investing Account: $704.82 <+32.42>
Most of my stock positions did well for the month, only 2 were lower: Napster and Sirius. I am surprised Sirius is lower because the DOJ gave them the greenlight for a merger. They just need one more approval. My other stocks: GE, Microsoft, Coca-Cola, AT&T, and McDonald's all were up. We also added in the dividend from GE stock.
My Money Market Account: $25.83 <+0.04>
That doesn't seem like much now, but that is the beauty of a money market account. You get monthly compound interest and relatively safe place to harbor your hard earned money!
My Personal Lending Account: $240.95 <+2.13>
Currently Loaned: $199.29
Waiting to be Loaned: $41.66
Some time during mid-April, enough payments will have been made to offer another $50 Loan to some individual. When this happens I will post about the process.
The Grand Total Earnings for March are.........+$34.59 or $1.1158 per day! Our first month out of the gate and we did what we wanted to do.
I will think of and try some new ideas this month.
For the last 2 months I have been going through the interview process to try and get an intership for the summer. I was successful! (yay me!) I will try to keep my current job at the retailer so that when the internship is finished, I will still have a job. But, I will have less days off and will be needing to think of some real creative ideas that won't take up much time. I have a few ideas in my head right now (drop off recycling, lemonaide stand, selling water, and a few more) but am looking for more! I am also looking for imput on how to reuse magazines so that we can make some money, I have 5 subscriptions netting me 9 magazines per month.
