March 2018 Net Worth (+$4,146.66)

Networth

Hey everyone, I hope you are doing well. Today I will be sharing with you my net worth for March. As you can see in the title March was a positive month for me, my first of 2018. A big reason for the increase in March was because I received my tax refund and put it towards my debt. Hopefully by the end of this year I will become debt free and that should have a big impact on my net worth.

All numbers below are as of March 31, 2018.

March February Change
Cash & Savings $3,927.48 $4,322.29 -$394.81
Investments $119,882.67 $119,722.94 $159.73
Car $14,969.00 $14,969.00 $0.00
Liabilities $10,557.27 $14,862.54 $4,305.27

Cash & Savings (-$394.81)

March February Change
Car Account $62.79 $909.53 -$846.74
Cash $316.80 $412.76 -$95.96
Emergency Fund $3,547.89 $3,000.00 $547.89

My cash is down slightly last month and the reason for this is I withdrew a large amount from my car account and made an extra payment in an attempt to pay off my loan quicker. My emergency fund saw a nice increase, over time I would like to increase this number back to $10,000.

Investments (+$159.73)

March February Change
Locked in RRSP $3,978.03 $3,818.94 $159.09
TFSA $28,504.11 $28,364.18 $139.93
RRSP $87,400.53 $87,539.79 -$139.26

March saw me eek out a small gain in my investments. As you all know, I am a dividend investor and March saw me receive a record amount of dividends $519. Without that I would have had a down month.

Car ($14,969.00)

I currently own a 2015 Hyundai Elantra GLS, I check the value every three months. I will update this figure in my April update.

Liabilities

March February Change
Credit Card $76.44 $78.19 $1.75
Car $10,480.83 $12,459.68 $1,978.85
Family Loan $0.00 $2,324.67 $2,324.67

March was an excellent month for my liabilities I was able to reduce what I owed in every category above or eliminated it altogether. On my car I made two regular payments and an extra payment of $1,700. Thanks to the tax refund I received I was able to completely repay the loan to my family loan.

Total Net Worth

I love seeing that net worth grow and hopefully now it will start growing month over month.

Well that wraps up my March net worth report. As you saw a big reason for the growth this month was due to debt repayment. It felt great paying off all that money and I don’t have any plans on taking on more debt anytime soon.

I hope you all had a great month of March and saw your net worth growth.

Thanks for reading

Matthew

16 thoughts on “March 2018 Net Worth (+$4,146.66)”

  3. Hey Matt. You are doing great! Glad to see it. I think you’re making the right move by paying off the debt.

    I recently depleted my emergency fund to pick up a couple of investment properties. Like you, I’m looking forward to building it back up. I know it is only psychological, but I do prefer having a good emergency fund.

    Looking forward to your next report!

    Liked by 1 person

    1. Hello thanks. It will feel great to pay off my car and become debt free I can’t wait for that day. I agree with you in regards to emergency fund I prefer to have a good safe amount of money tucked away just in case something happens. Thanks for reading my post.

      Like

  5. Hi,

    I have been reading your blog for a while and like how you have set up your finances. I wonder if you can comment on the following: I have younger children, they’re all minors. I wondered about opening RRSP’s on student accounts for them. The reason for this is that there is no other product as far as I know which provides the advantages of time and investment. What’s your opinion on this?

    Thanks

    Leanne

    On Tue, Apr 10, 2018 at 10:13 AM, All About The Dividends wrote:

    > Matthew posted: ” Hey everyone, I hope you are doing well. Today I will be > sharing with you my net worth for March. As you can see in the title March > was a positive month for me, my first of 2018. A big reason for the > increase in March was because I received my tax refun” >

    Liked by 1 person

    1. Hi Leanne thank you for reading my blog, and thanks for the question. I must admit I don’t know that much about RRSP student accounts, I will need to do some research on them. Off the top of my head it sounds like a good idea it would give your children a place to start investing and give them the advantage of time and compounding growth.

      Like

  7. Great job starting early and building wealth with a dividend growth strategy. Really well done. I’m doing the same strategy and blog from Ontario too:)

    Liked by 1 person

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