I’ve received this month £1750.30 in dividends. Pretty crazy right? It puts the yield close to 90%!
With this payment, I’ll be paying £1300 towards the loan. The remaining £450.30 will be used to cover the minimum CC payments as I had some additional purchases this month.
This saved £417.25 in loan interest and my loan debt is now £4381.60. Pretty crazy considering that, 4 months ago, I had >£13000 to pay, with £3000 saved in interest payments. I suspect this loan will be cleared in 3 months.
This means that, theoretically, for this month, brought me a net positive of £1586.55 from money that is not mine.
– Monthly spending of:
1. £184 + £378 for credit card payment
2. £119 of loan payments
– Received/Saved:
1. £1750.30 of dividend received
2. Saved £417.25 in interest payments.
Unfortunately, Trump and his decisions have tanked the market, so I can’t really say I’m negative due to NAV erosion or overall stock performance, but at the moment, I’m around £10K on the negative side.
Once I finish paying this loan, I’ll be reinvesting dividends.