March already, the year seems to just fly by.
Some spring cleaning on my investments is due.
I have decided to buy some shares in National Grid this month. I have been pondering a purchase for a while but the price seemed high due to all the media recommendations to buy pushing up the price. I need to diversify my portfolio as I hold too much of one stock (shares from share saves and options from an old employer).
So I now have 60 shares which will provide a small dividend later this year. The money for this purchase came from the dividends I received last month. The rest has gone towards paying a fixed amount off my BTL mortgage capital.
I am not sure if that was a wise thing, I am sure there are a few FIers out there who think this is a stupid thing to do – but I have an adversion to debt in whatever form it is. I would rather save and own something outright that leverage debt. I know where I stand then.
The tenancy is up for renewal so I am hoping that the current tenant wants to stay for another 6-12months, securing me some income for that period. The money I used to buy the BTL has so far earnt me more income that it would have as interest in a savings account. It also spreads my risks as I have an even split between property and stock investments.
I need to keep focused on building up my ‘honey pot’ as an FI Bee.