Despite being a busy month, August was a good one for me savings-wise:
Yes, that’s right – I saved 52% of my net income, my best rate so far! The savings were boosted by £1.02 from Ebay, £62.71 from TopCashback*, £60 from my Mum (for ‘housekeeping’ when she and Dad were over!) and £200 rent received.
As you can see, I now have two SIPPs. I wanted a platform to invest in ETFs and shares regularly and more cost effectively than my current platform, Hargreaves Lansdown, so I opened an account with AJ Bell Youinvest. Share dealing charges are £9.45 (if you make 10 or more deals in a month, this drops to £4.95) but you are also able to make monthly purchases of shares or payments into ETFs for £1.50, which is what I want to do.
This does mean that if I want to buy a particular share, I have to set it up as a regular purchase on my account and the shares only get purchased on a particular day of the month so I may ‘miss out’ on low share prices. However, it also means that I don’t have to wait until I’ve got a large sum to buy my shares to make it cost effective, eg my regular payments are £300, so the £1.50 works out at 0.5%, whereas £9.45 works out at 3% of £300.
So, what shares did I buy this month? No prizes for guessing that I have gone and bought Tesco shares (TSCO) just as the price plummeted and they announced a cut in their interim dividend! But hey ho, I’m still learning about investing and whilst it’s doom and gloom for Tesco at the moment, I still feel that they will bounce back in the long-term.
As for other shares in the future, I’m likely to just add a mix of the ‘usual suspects‘, ie shares that I hope will continue to pay good dividends.
Dividend investing isn’t likely to be a huge part of my portfolio but it will play a small part.