July 2020 Net Worth

Net WorthF


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



June July Change
Cash $449.11 $1,426.49 $977.38
Emergency Fund $2,332.33 $2,000.00 -$332.33
Total $2,781.44 $3,426.49 $645.05

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.

EQ Bank

June July Change
Yearly Bills $908.79 $1,172.17 $263.38
Car Fund $1,524.97 $297.25 -$1,227.72
Travel Fund $1,381.18 $1,645.33 $264.15
Future Housing $406.47 $669.02 $262.55
Total $4,221.41 $3,783.77 -$437.64

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


June July Change
RRSP (RBC) $112,570.13 $111,779.37 -$790.76
TFSA $57,650.86 $60,282.08 $2,631.22
LIRA $5,193.26 $4,936.55 -$256.71
RRSP (WST) $292.60 $386.46 $93.86
Total $175,706.85 $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.

Car $24,000



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.


Net Worth

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%.

July 2020 Net Worth

Thanks for reading!



15 thoughts on “July 2020 Net Worth

  1. Great to see your net worth steadily increasing even with how crazy the markets have been and buying a new car.

    I really like how you have multiple accounts at EQ Bank. They are free and you’re making good use of them.

    Keep up the savings Matthew – I look for to reading next month’s update.

    Liked by 1 person

  2. Congratulations on the new car purchase! I’m sure it’ll make a great companion for some amazing road trips. I did the same thing as you when I financed my car (also white) a few years back, taking on the lowest payment and then made my own balloon payments along the way to pay off the loan on my own schedule.

    Another solid month on your end Matthew 🙂

    -DG Capital

    Liked by 1 person

  3. Great article. I’m happy to see your net worth is recovering from this year’s volatility. My wife and have been researching SUVs lately and we’ve also been considering the Hyundai Kona. I hope you write a bit about your experience with it in the future!

    Liked by 1 person

  4. A car? LOL! Totally unexpected. I thought your previous car was still in a good shape. Did you trade it in? The Kona in blue really stands out. It’s a good strategy to have a low payment and decide when you want to pay more. I like that approach and 1.49% is nothing!!! Enjoy it!

    Liked by 1 person

  5. Congrats on getting the Kona. It’s always fun to drive a new vehicle. 🙂 I bet the extra cost of the blue paint is how they get a lot of other buyers to fork over more money, lol. I currently drive an old yaris but will eventually need a larger crossover or SUV too. Nicely done on the 1.6% net worth gain. Do you think you can get back to the February high point by the end of the year?

    Liked by 1 person

    1. Hi Liquid, thanks for stopping by and reading my post and leaving a comment. I think you’re right about the paint. Thanks it was nice to see the net worth rise again. I think I can get back to February levels if I can continue to pay down my car and loan. Also if the market can continue to gradually rise I will have a shot.


  6. One thing I’ve found is that having that well stocked emergency fund removes a lot of the worries that other people presumably have. We don’t have to worry about how to pay the bills or buy food etc if for whatever reason I stop getting paid, and it means we can remain calmer and not as stressed about the situation, financially at least.


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