February 2017 Independence Fund Update

It's that time of the month again. I get to put another month in the books about my journey towards Financial Independence. I started this website as a way to keep track of all the moves I take on my journey towards Financial Independence. It serves as away to keep my motivation in check, track my month to month Independence Fund growth, Monthly dividend payments, and Annual dividend payout. I also hope that this website can serve as an educational tool to some people and to also help inspire them much how I was inspired by other fellow dividend blog investors. 

This was a very decent month for me in terms of dividend income. I received divided payouts from three companies totaling to the amount of $69.82. Those companies were Royal Bank of Canada, AbbVie and AT&T. Next month is going to be an amazing month for dividends. I'm receiving my special dividend payout from Ford which will be a very nice addition on top of the quarterly payout. Also I had another company I own declare a dividend payout increase. Wal-mart increased their annual dividend payout by 2% which has affected my portfolio by an increase of $1.80 per year!

I'm making a new addition where I will be tracking my Escrow balance I have set up through ALLY BANK. I had to pay winter taxes out of it and my Balance is now at $324.05. I really wanted some more transparency into how I will be automating my finances and this is a first step.

I realized after reading a few other fellow bloggers post that I have fallen out of practice with tracking my monthly expenses. So without further a do, I have summarized my monthly expenses with a beautiful pie chart that adds such a nice feel to the update. I'm really loving it and will definitely moving forward with this layout. 

I also applied to become a member of the dividend fund investor network and was happily accepted. this allows me to get my name out there and get some recognition amongst my fellow dividend website blog peers.

A small side note to some amazing changes I've been doing, I created a logo that I'm absolutely loving right now. It fits my profile perfectly and is very minimalistic, yet still sets my website apart from others. Feel free to leave me a comment below on the new design changes.

Total February Expense = $3,399

I basically spent every penny I made last month which is terrible. I wasn't able to add my usual monthly $1,000 towards my Independence Fund which disappointing me dearly. My credit cards were still very high from carry over from Holiday and also from a few unexpected expense such as a $250 car repair charge. I also bought a few items for the house such as a new lamp and chandelier. Those 3 things along added up to almost $700. I could have waited to purchase them but I was really sick of looking at a power cord dangling in my living room where a chandelier should have been.

Below is a graph summarizing the dollar amount growth of my Independence Fund. It represents a beautiful ladder and I find it very motivating to see this stairway towards financial Independence.

It was nothing short of a great month for me. I ended the month of February $2,115 more than January's amount. This represents an increase of 8.62%. I was super lucky that I was able to get so much extra income due to the current bullish trend the market is under going. This definitely helped boost my growth over last month but it could have been way more if I didn't go crazy with my spending. Next month will also have a few more expense that I rather wouldn't have bought yet however, my front home window has broken since Christmas and it is time to get that repaired also.

I really hope to maintain this trend over the next month and really keep increasing my account by this amount. $2,187 is the average monthly amount I need to grow my account each month to hit my year end balance goal of $50,000. Year to date I'm $524 under my average monthly goal to increase my fund value but with my tax return paycheck coming soon and my three paycheck month of March I will be caught up in no time.

The official tax numbers are in and I will be receiving $3,491 from my returns and I have the full extra paycheck of $1,225 that is going to directly into my Independence Fund. Right away I'm going to be boosting my balance by $4,716 in one go! I did do a lot of research into which companies I'm going to be putting my cash flow to work towards and I'm super pumped and ready for this to happen. 

I'm also expecting to receive dividend payouts from 4 companies next month which will add a nice little boost to my holdings as well. 

Over all It has been one of the better months I can remember in terms of month over month growth. How did every one else do? Was February as amazing for anyone else as it was for me? 

Image courtesy of bplanet at FreeDigitalPhotos.net