April 2020 Net Worth

Net WorthF


Hey everyone it sure was tough looking at these numbers. Heck I remember writing the February net worth post and wondering if I would reach $200k in March. Well I can say for certain that isn’t going to happen anytime soon! As you may have noticed that I did not do a net worth post for March, I had every intention of doing one and it was going to be published the second week of March. At that time the markets were going haywire and my numbers weren’t even remotely close so it didn’t make sense to publish.

Cash & Savings ($4,885.08) – $1,818.40


February April Change
Cash $4.00 $131.20 $127.20
Emergency Fund $2,000.00 $2,000.00 $0.00
Total $2,004.00 $2,131.20 $127.20

Not much difference here, the $127.20 is set aside for the next credit card bill.

EQ Bank

February April Change
Yearly Bills $162.19 $538.78 $376.59
Car Fund $955.17 $1,084.03 $128.86
Travel Fund $922.53 $1,051.26 $128.73
Future Housing $2,659.59 $79.81 -$2,579.78
Total $4,699.48 $2,753.88 -$1,945.60

There is a big difference with my EQ Bank savings. In March I decided I wanted to invest more money and I looked at my accounts and the account that I didn’t need the money right away was my housing account so I used the funds to invest in my TFSA. By the end of the year I am planning on putting the money back into the account.

In March I did my own taxes (second time ever) and I ended up owing $569 so I haven’t been able to save as much in my other three accounts as I would have liked.

Here in Canada the Bank of Canada has cut interest rates three times and the rate is currently sitting at 0.25%. In response to this EQ Bank has lowered the interest rate customers can earn from 2.45% to 2%, they lowered the their after the Bank of Canada’s first or second rate cut, I am waiting to see if EQ Bank drops theirs further.

Investments ($163,509.22) – $22,313.81

February April Change
RRSP (RBC) $122,458.71 $105,871.66 -$16,587.05
TFSA $56,887.56 $52,716.20 -$4,171.36
LIRA $6,377.66 $4,748.02 -$1,629.64
RRSP (WST) $99.10 $173.34 $74.24
Total $185,823.03 $163,509.22 -$22,313.81

WST = (means Wealthsimple Trade this account is separate from my main RRSP account)

Looking at is pretty scary, thankfully I have time on my side (currently 36) I am still in the accumulation phase of  investing. At one point a couple weeks ago my losses were about $55,000 instead of the current $22,313.81. I don’t have a crystal ball to tell everyone what is going to happen. I believe that the markets are going to continue to drop maybe not as fast as they did in March, I believe this because just wait to hear about the unemployment numbers, company earnings reports etc…  My current strategy is to side on the sidelines for a bit and collect dividends from my accounts, I currently have about $4,700 in cash sitting in my TFSA account.

 Liabilities $8,600

In March I decided to go into some debt, I borrowed $10,000 and I used the money to invest. The money was an interest free loan from family, I have currently paid back $1,400.

Net Worth

In February my net worth stood at $193,154.97 and I was eagerly hoping to hit the $200k mark in March. Since then it has been all downhill for just not me but the world. My net worth now sits at $159,794.30.

April 20 NW

Well folks that’s my net worth post for ya. Do you check your net worth? Just remember to stay the course in these times it’s good to have a good sized cash cushion in the bank in an emergency fund just in case of job loss or an emergency arises. For me it probably wasn’t the best time to take a loan with not very much cash in the bank, that is something I will be working on.

Stay safe everyone!




9 thoughts on “April 2020 Net Worth

  1. I’m purposely not looking at my net worth for the next lilttle while….I typically only update the spreadsheet once or twice a year anyway..but right now i have ZERO interest in seeing how far it has dropped..hah

    How can I apply for a zero interest loan from your parents 😉

    Liked by 1 person

    1. Hey bud that is a wise decision on not wanting to see how far it’s dropped. In regards to the loan once I pay back what I owe I will put in a good word for you 😁


      1. No problem, when I looked at all of my accounts I figured this one could be used for investing first as their was no immediate need for the cash.


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