Hi everyone and welcome back to my site. Today I will be sharing with you my net worth at the start of July. June was a busy month for me, I went back to work for the first time since March. I am a custodian at a local school board. Also I celebrated a birthday (37th) on June 24th. In terms of financial news I bought a new car and I will add that to my net worth posts.
Cash & Savings ($7,210.26) + $207.41
There was a nice jump in the cash category this month, it just happened to be payday at the start of the month and I hadn’t had a chance to disperse the money to all of my other accounts. My Emergency Fund is back down to normal I used the $332.33 to put towards the warranty/ death insurance on my new car. My emerg fund should stay at $2,000 barring anything big happening the rest of the year.
Three of the four accounts continued to rise as I made bi-weekly contributions into them. The Car Fund is lower due to purchasing the new car. I plan on continuing to make bi-weekly payments into this account to save up either for maintenance on the current vehicle or to save for a future one down the road.
Investments ($177,384.46) + $1,677.61
Not too much happened in my investments, the valuations kept going up and down it was a choppy month. I continued to make bi-weekly contributions into my TFSA account. I believe my contributions and dividends received are the reason why my TFSA account rose in the month.
Here is a look at the new car I drive. I actually drive a white version of this a 2020 Hyundai Kona. I really liked the blue colour pictured above but it was only available for the top version of the Kona, and I wasn’t going to pay thousands more just for the colour of the car.
Please note that I am planning on only updating the value of the car once per year. It makes it easier and simpler to do this.
Liabilities ($30,209.25) + $23,009.25
Car ( $23,709.25)
I currently own the above amount on my car. If I keep the current payment plans and don’t make any extra payments it will take seven years to pay off. Don’t worry I don’t want to pay for a vehicle that long. I chose this payment option to keep the payments low as I like to keep my options open when it comes to deciding how much to pay. I make bi-weekly payments of $137.94 they are even lower than the car I just had. However I am deciding to pay $175 bi-weekly so I am putting an additional $37.06 on the loan, it’s not a lot, but over time I believe this will add up.
I had my last car paid off in four and a half years and hope to do the same with this one. I am currently financing the loan with a 1.49% interest rate.
Loan ($6,500) – $700
I continue to pay down a loan I took in March. Now that I have a car payment I will be reducing my payments on the loan to $350 per month.
I was able to eek out another gain for the third month in a row. I began July with a net worth of $178,385.47 a gain of 1.64%.
Thanks for reading!