To inspire you to save and use your money more wisely, I am kick starting Round 2 of The $1,000 Project. You can following along with this project to pay down debt, save up for a particular item, start investing or even bring on an early retirement! The choice is yours and you create the rules!

My goal for The $1,000 Project is to get the dividend income up to $4,000 p.a. by October 2017. So far the portfolio generates a dividend income of $1,700 p.a. which is now being reinvested so that I can make the most of compounding interest opportunities. The passive income will go to another charity at the end of the challnege in 12 months time.

Also, everytime I do something to save money or earn extra money, I will take a photo and put it on my Instagram account @sugarmamma.tv and hashtag #the1000project (no $ sign). So if you are doing The $1,000 Project, I encourage you to share your ideas for saving money and help inspire others…so that we are working as a community. I will also try to regram your images where you have hashtagged #the1000kproject

Remeber, you don’t need to be bying shares and I am not recommending this as an investment to you but chasing this strategy for my goals for the challenge.

You can also check out my The $1000k Project Playlist!

xCC

SugarMamma.TV is all about educating, inspiring and empowering everyday people to create financial harmony, freedom and independence in your life. Bite sized videos, with quick and easy to understand tips, that you can apply straight away and see the results. SugarMamma.TV is a powerful movement making money and finance more approachable, energetic and enlightening.

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45 Thoughts to “Saving & Investing for long term passive income! The $1,000 Project is back!”

  1. Dennis Benedictos

    Hi Sugar Mamma, thanks for the videos. You are not only gorgeous but I love your videos helping people become financially literate. Just want to share my 2017 project where I aimed to create a passive income for myself. One way was via running a web design business as a side income. I've learnt how to create and design websites using WordPress, where in 2017, I aimed to win upto 10 paying clients and I managed to win 9! Now, getting paid to design websites is not the passive part but I learnt that instead of just designing the website I started hosting my clients' websites under my own hosting account and then charge each of my client $200-$300 annual fee for support and hosting. That means by end of 2017 I managed to create close to $2000 /yr, every year of 'passive' income from web hosting fees. πŸ™‚ In preparation for my goals in 2018, I've now upgraded my hosting account as a web hosting reseller to better manage my clients and prepare to scale my business up. My 2018 Goal is to scale my revenue to x10 by increasing my client base from 9 (in 2017) to 100! It will be a tough goal for 2018 but if I manage to do this then I should see an approx revenue of $20k /year. If I only manage to achieve 50% of my goal then that is still $10k /yr, every year. πŸ™‚ As you said, break down the goals to smaller goals so that they become realistic and achievable. I will be reviewing my goals week by week, monthly and quarterly.

  2. Tkuma Cabrera

    This is a brand new fresh method for pulling $100+ per day from a standing start. It is a full case study with real results! Just Search Google, SULUDOLLARHOME. COM

  3. Esther Sparks

    I didn’t get the opportunity to be successful even when I tried utilizing various strategies that promise to make money in a few hours a day. My buddies are inducing me OnlineNetCareer. Com that ime. Every day, I am generating about a hundred dollars. Check it out personally.?

  4. Maria Virgen Berrios

    Hi! I also want to know if the following two things count for the project:

    1- I pay $50 weekly for cleaning my house. If I do the cleaning myself I will save $50 per week. Does that money go to the one thousand project fund?

    2- I pay $50 per week for supervised after school study for my girl. If I supervise my girl and do assignments with her Monday through Thursday I will save $50 per week. Does that money go to the $1,000 project fund?

    Thank you for your attention!πŸŒΌπŸ‡΅πŸ‡·

  5. Maria Virgen Berrios

    Please tell me what to Do when I already have the $1,000. Where and how I invest by buying shares. Sorry! I am lost in that part. But I am here to learn. πŸŒΊπŸ‡΅πŸ‡·

  6. Amy Tobin

    Hello! Just found your channel and to say the least I am inspired. Your channel is totally motivating for me! I'm joining the challenge and will keep you up to date with my progress! Thankyou!

  7. Nalka Xafada

    very nice

  8. JustJoc

    would you do a video about how to buy shares with dividends.

  9. MakeupByDiana529

    I've watch almost all of your investment videos but I'm still having a hard time understanding how to know which stocks to buy and how do you know if they have dividends? Would love an in depth video on this ps- I'm in the US, NY specifically

  10. Mubasher Ali

    tell me plz long term online investment company

  11. Kris Keith

    This video should be names "Rich People Pinching Pennies"

  12. Olga M.

    You are such a beautiful, smart and inspiring girl. I enjoy watching your videos.

  13. Namra Mohammed

    Hi Canna, would you mind making a video on what exactly you need to research in a company that you're looking to buy shares in? Possibly a list of things that would help make the right decision of whether to invest in that company or not. Thank you xx

  14. wogboy82

    Hi, I noticed you mentioned launching your super annual ion product, can I ask what kind of product is it and some info on it

  15. valdas k

    Hi, a list of ways how you can make money online from your home. http://www.oureasyway.com

  16. Blue Malka

    love the $1000 project!

  17. princesspixie

    Hi Canna please do a video on Acorns. I have started but I have no idea what I'm doing

  18. Amanda11762

    I saved $140 since this video! took my lunch to work 4/5 days and Saturday in lieu of dinner and book store my husband and I stayed in, I made a delicious meal and watched Netflix. I thought of you and put that would have spent cash into my savings.

  19. Ali Goldsmith

    Canna, what do you think of automated investment services such as Wealthfront and Betterment?
    I am looking into starting my investment portfolia using one of these but value your opinion before going forward.
    Can you do a video on your opinion please? Thank you!

  20. Razer946

    Hey Canna, I'm a bit confuse. Would I need to pay taxes on things I've sold through declattering? Thanks!

  21. Roxy Galdz

    Hi Canna, I started following your $1000 project few months ago. I started selling my high end purses through Fon app and also doing OT at work if someone called out. I literally able to save few backs and started investing through Fidelity. Just few days ago I look at my Investment Account Activity and saw 7.77 dividend I received from one of my Stocks Shares. I was very delighted and was jumping for joy lol. Thank you so much for inspiring me! I'm looking forward to more savings from my long term investment πŸ’–

  22. Victoria Mather

    I'm still a little confused. So you make some form of income off something other than your work income, save it in $1000 lumps and invest it to gain interest, but when do you take that money out and buy handbags/give it to charity? How much do you wait for it to make/have before you take it out? And you normally can't just take investments out whenever you want.

  23. Thanh Hang

    Could you please let me know where can I sell my high end handbag and which company should I trust for market research? Thanks

  24. PSIGigantor

    Cashed in my credit card points for Woolworths vouchers

  25. Ben Cattell

    Sugar Mamma don't forget that you can save on your Banoffee pie. lol

  26. Raccoon Eyes

    with banks being unstable, is it really safe to keep so much in savings when the bank can legally steal it when they start to go under?

  27. Rachael Maree

    Why do you always focus on paying off your HECS debt? Wouldn't your money be better off being invested with higher returns?

  28. silkandsequins

    I am doing a smaller-scale $100 project for myself with a goal of $200 in passive income by next October! I have already created $300 through selling a purse I no longer wanted and getting a new job and putting my vacation pay-out from my old job towards the project. Thanks Canna you're so inspiring, keep it up!

  29. Feelslike Zoom

    A Penny Saved is a Penny Earned πŸ™‚

  30. TerriN D

    I have sold $850 worth of things from home over the weekend. i have made a plan to pay off debts fast and de cluttered my wardrobe. All since watching your links last week. Very inspiring. Thanks.

  31. Leo Castro

    Good video, I'll look forward to next video

  32. Rebecka

    Thanks for this video! It has inspired me to try to sell some things on craigslist this week to try to earn a little extra money, and to commit to taking my lunch to work every day this week. Saving and spending conscientiously is a wonderful habit that is helping me to meet my goals. πŸ™‚

  33. cokecolachic

    Hi Canna, what's the name of the Facebook page you sold your shoes on? I have a couple high end shoes id like to sell. In Brissie based πŸ˜‰ thanks so much!

  34. Amanda11762

    I'm not quite prepared to do investment on my own. i need guidance! i did however adjust my 401k to a balanced approach. not too low not too high. I'll see what happens this quarter and go from there. do you have other means of investments or just stock?

  35. Yael Bolender

    I love your approach, just for now my extra money helps me to survive, but I will come up with an idea for sure…

  36. Sarah Grayson

    Can you do a video in index funds please?!

  37. pommypebbles

    I've heard about an app called acorns off a friend what's your thoughts? Is it a good thing to start to get a taste of investing?

  38. Gabriella Simeonova

    awesome!!!

  39. Marie Waring

    It's taken me 4 weeks to save $100 πŸ™

  40. mandymarie777

    Hi love! I'm definitely going to take part in this project! Just a heads up that the hashtag listed in the description box has a 'k' in it that doesn't belong. I want to make sure people can find your stuff correctly. Sending my best!

  41. Pittwater Mowing Australia

    Another great vid Canna Keep them coming

  42. Daniela Scoppa

    Hi Canna! Love your videos and ideas for the $1000 project. Can you pleas include a link to the high end website you have mentioned? Thanks!

  43. Amena Khanom

    love ur vids. amazing person. xx

  44. Angie Lam

    Could you make a video on how to select a stock for long term investment?

  45. Steve 2008

    Challenge Accepted. I am so excited by this new challenge I have already accumulated $4005 by taking on extra work. thanks Canna x

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