Hello folks it’s time for me to share with you my net worth for January. January was a mixed month for me, my net worth declined for the month, but I also reduced my debt more than usual. All the numbers that I will share with you below are what I had at the end of January.
As I write this last week was such a volatile week for the stock market that I am happy with how January turned out for me. One of my goals for 2018 is to increase my net worth by $50k , I still have 11 months to try and achieve this.
All numbers are as of January 31st, 2018
|Cash & Savings||$10,738.13||$10,642.29||$95.84|
Cash & Savings +$95.84
Cash – $3,369.48 (+$91.34)
My cash only increased by $91 this month which isn’t a lot but I am happy with it. One reason why the increase was low, is because my car account reached $1,000 in January once it did that I withdrew the money and made an extra payment on my car. I will try and do this again in February.
Emergency Fund – $7,368.65 (+$4.50)
I did not touch my emergency fund in January and it collected $4.50 in interest.
Investments $112,588.89 (-$2,054.75)
|Locked in RRSP||$3,995.89||$3,960.64||$35.25|
January was a down month for my investments. I believe due to the higher interest rates that the US Fed and Bank of Canada are announcing is having an impact on my portfolio. My utilities, telecom have been declining causing the negative month.
Car $14,969.00 (-$374.00)
I currently own a 2015 Hyundai Elantra GLS, I check the value every three months. In January I checked it and the value had dropped $374.00. The current value sits at $14,969.00. I will update this figure in my April update.
Liabilities – $12,756.58 (-$1,230.58)
Car – $12,756.58 (-$1,230.58)
There was a big drop in my debt as I made an extra payment of $1,000 on my car. I’m that much closer to paying off my car 🙂
Total Net Worth
As you see there was a slight decrease in my net worth in January. With so much of my net worth tied to the stock market I can expect to see some swings up and down. In the future I will need to change this and start saving money in a bank account.
Well folks that wraps up my latest net worth post. How did you do in January? Was your net worth higher or lower?
Thanks for reading