Heartland Bank (not totally share related)

[justakiwi]

Thanks for the feedback. I get what you’re saying and it’s actually pretty much the same question I asked myself before I transferred a small amount across. I may reconsider moving any more for now though. You are right about higher interest rates having close to an insignificant impact on small savings balances, but I am stuck between a rock and a hard place, with a low income, very few savings and no property/assets. I have a couple of thousand worth of shares which are holding their own (DRP is great) but have not been able to accumulate enough to buy more, as I had hoped. Sometimes I just feel that I can’t make any progress so going for a few more dollars in interest makes me feel as least a little bit proactive.

False thinking I know.

[Baa_Baa]

Thanks for the feedback. I get what you’re saying and it’s actually pretty much the same question I asked myself before I transferred a small amount across. I may reconsider moving any more for now though. You are right about higher interest rates having close to an insignificant impact on small savings balances, but I am stuck between a rock and a hard place, with a low income, very few savings and no property/assets. I have a couple of thousand worth of shares which are holding their own (DRP is great) but have not been able to accumulate enough to buy more, as I had hoped. Sometimes I just feel that I can’t make any progress so going for a few more dollars in interest makes me feel as least a little bit proactive.

False thinking I know.

No it's not false thinking, you're onto it, just chip away at it every day, it's a mindset, do the little things well every day, one day it adds up to a big thing and you won't even remember what all the little things were that you did because its turned into a big thing and you'll be more worried about losing what you have than making more than what you have already. Save the $4 for a latte and spend it on a decent earning share, just as an example. Save the $4 extra for an Uber instead of the Bus and spend it on a share. Use the fringe money you otherwise waste to buy assets that pay you an income for ever and ever.

Life and investing is a journey, it has its ups and downs, but starting the journey is the best feeling, making some right decisions along the way is pretty cool too, sucking up the bad decisions is a bummer but inevitable, and one day you say to yourself .. whoa! look at what I've done, and then you'll realise you're still young (relatively speaking) and there's another few decades ahead of you that you can enrich yourself using the lessons you've learnt along the way.

Time wounds all heels, patience and prudent decisions rewards.