Maxing my Credit Card, Selling my First Stock, and Other Life Updates

Hi everyone! 🙂 How was your weekend?

It’s almost the start of August! And it is generally a pretty chill month in our company (the French bosses are taking their summer vacays) so I am able to think a lot about my finances again. I wish I could say it’s doing superbly well but no. On the contrary, my finances has suffered some lows this past month, but I believe they were all acceptable. I’ll talk more on that on my next net worth post!

But just to give you a sneak preview of what you’re gonna see, here are some things that happened last week:

 

Maxing my Php175,000.00 Credit Card Limit

0717 Max Mastercard

Credit Card Limit: 175,000.00. Available balance: -575.01 :((((((

I couldn’t actually believe it at first! I know having a credit card has served me well (convenience and points) but I never imagined I would be able to max out my already high limit!

But fret not! I’ve already checked on it and it is actually mostly for company charges. I have an Amex Corporate Credit Card in the office, however, we have a nice *sarcastic* policy of only maintaining Php50,000.00 credit limit for everyone. Imagine how convenient that is for me as my current role requires business trips for 2 weeks every quarter.

My first taste on this new policy was last April. It was already late at night and I was checking in at the hotel just coming from the airport when my card got rejected for the hotel deposit! I didn’t have any SGD then, and if it weren’t for my Mastercard and its adequate limit, I would have ended up sleeping in the streets that night. (Just kidding, I know that’s too much of an exaggeration.)

So as of the moment, I have a balance of around Php100,000.00 from my business trip two weeks ago and unfortunately, the company has not reimbursed me yet. I also charged another Php27,000.00 for our teambuilding event today. I initially wanted to use my corporate card for it but there seems to be a problem using it for an online transaction. Tss. Probably a company policy again. Haha.

And though all is well and I don’t have to pay for 73% of my bill, it still kinda sucks ’cause I just found out that my brother is supposed to pay his tuition today! I already tried to pay some of the bill with whatever’s left in the balance of my savings account but the system has not processed it yet. I’m also expecting to be charged with some penalties from a) spending above the limit and b) having more than two payments for this month. Gah.

Hence, I’ve decided to revert to using my corporate credit card again moving forward. It will be an additional hassle to request for an increased credit limit, and I would miss earning points for my personal use, but at least this option will separate my personal finances from charges due to work.

 

Selling my First Stock

So, have you been monitoring the stock market and have you seen that the PSEi is now at the 8,000 level again? If my memory serves me right, this is already the third time that the index has broken the 8,000 level. The first two was not sustained and the market went down after. Hopefully, this time around, it will continue the breakthrough, but I’m personally not too sure of the chances as well.

And with that, I tried my hand on selling my first stock! I only have 4 out of 14 stocks in my portfolio that are gaining now. Two of them have gains in around the 15-16% level, they are both around the same value, and they’re also both property stocks. As an experiment, I tried to sell one and will then monitor how it will perform moving forward. Will my decision turn out to be good, that is, will the stock I sold become cheaper again? Or will it continue to rise, in which case I should have hold on to it for long?

We’ll see. But first, here are snapshots of when I bought it and when it was sold:

MEG buy.png

Bought: May 19, 2017. Total cost: Php4,253.03.

MEG sell.png

Sold: July 28, 2017. Net proceeds: Php4,892.16.

Net gain of Php639.13 or 15.0%! Not bad, eh? After all, my investment is less than Php5,000.00, and I earned in less than 3 months! Hopefully once I get the hang of this, I can trade in bigger values and better profits.

Then again, I have 10 other stocks that are losing so must also be careful!

 

Receiving my first Dividends

Can I just say that MEG was such a great buy for me? Aside from profiting from it in above, I have actually received cash dividends from them beforehand! Cash dividends are automatically credited in my COL cash balance so it allows me to buy other shares as well!

Meg Dividend.jpg

Cash dividend: P0.05 per share x 1,000 shares, less 10% tax.

Boo tax as usual. Still, getting something from a Php4.25 share is better than nothing. The feeling of earning something without doing anything is actually the best part of receiving dividends. Maybe I should find better dividend-paying stocks?

 

That’s it for my adventures from last week! Still have a lot of thoughts to pour out and I cross my fingers to that as I try to catch up with all the writing/blogging that I need to do.

‘Til tomorrow for my net worth update for the 1st of August! Stay tuned by liking my FB page below and inviting your friends too!

 

Cheerios,

Maven

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