Hello everyone, it’s net worth time! That’s right folks now that we are into a new month I will take a look at my financial numbers and share them with you. I share these with you because it helps motivate me to stay the course, I want to build upon each month and continue to grow these numbers so future me is in a good place.
Cash & Savings ($6,703.48) –998.59
Pretty quiet here, I don’t tend to keep a lot of cash with RBC usually I set aside money to put on my credit card. One good thing though was I was able to put that little bit extra into my Emergency Fund. I feel like $2,000 is good for me to have set aside in class anything were to happen.
As you can see there was one big change in my EQ Bank account. I had to pay my car insurance in January so that is the reason for the big decrease in Yearly Bills. With my other accounts I was able to make bi-weekly contributions into them. Also I earned $11.04 in interest from the Bank. In case you hadn’t heard EQ Bank recently increased it’s interest rate on it’s savings accounts to 2.45% up from 2.30%
Investments ($186,451.49) + $6,305.05
It was a good month for my accounts with RBC they were up another 3.1%. I big reason for this increase as well was the $680 in dividends I received from my stocks.
In January I decided to open an account with Wealthsimple Trade. One reason for doing this was they offered zero commissions on trades. At RBC they charge $9.99 for each trade. I started my opening an Registered Retirement Savings Plan (RRSP) and buying an Exchange Traded Fund (ETF). After a couple weeks I made the decision to move my Tax Free Savings Account from RBC over to Wealthsimple that transfer should be completed sometime in February. By moving this account over I can invest my money cheaper and faster.
As of Feb 1st my Wealthsimple Trade accounts had the following values.
- TFSA $628.46
- RRSP $99.10
Currently don’t have any liabilities, my credit card is all paid off.
On February 1st my net worth stood at $193,154.97 an increase of $5,389.96. Can I hit $200k in March? It would be nice but I’m just focusing on saving and investing I’ll let the milestones arrive on their own time.
Thanks for reading everyone, I appreciate it.