As I described in an earlier post, one of my financial goals is to buy a single B share of Berkshire Hathaway (BRK.B). Berkshire Hathaway is run by Warren Buffett, and I think it is a great alternative to a large cap mutual fund.
As part of my goal, I’ve committed to saving for the B share only through income I generate from this blog or other passive sources. In other words, I won’t use any of my income from my day job or from savings to buy the B share. Why am I limiting myself in this way? Because I want to show myself (and you) that small, incremental savings can make a huge difference given enough time. I want to see if saving a few bucks at a time can really make a difference. I believe it can (actually I know it can), but seeing is believing.
So where do I stand? Well, you’ll see I’ve added a progress bar in the right sidebar to track my goal. Through October 31, 2007, I’ve saved $395, or about 9%, toward my goal. Here is where the money came from:
- $0.35 (check from my insurance company)
- $13.08 (loose change and interest earned)
- $345.67 (blogging income–I’ll write more about this later)
- $36.35 (refund checks, another $0.35 check from my insurance company)
This brings my total to $395.45! I’ll update my progress bar as new money comes in and as the price of the B share changes (this is where a drop in share price would be really great!), and then update this post at the end of each month.
Update: The progress bar has been taken down because I’ve reached my goal! Check out this post on buying partial shares of stock.