December 2020 Net Worth

Hi everyone and welcome to my latest net worth post. This month I get to share with you some good news my net worth returned to growth, as the the stock market did really well in November. Thanks to the stock market my net worth grew 10% in the month and crossed the $200k mark.

Cash & Savings ($7,464.28) – $1,535.03

RBC

NovemberDecemberChange
Cash$1,326.81$4.00-$1,322.81
Emergency Fund$1,895.13$1,081.10-$814.03
Total$3,221.94$1,085.10-$2,136.84

Had a big drop in my cash from last month, this is due to paying off my MacBook that I purchased at the end of October. In order to get my emergency fund back up to where it was ($2,000) I am planning on setting aside between $100-$200 every pay.

EQ Bank

NovemberDecemberChange
Yearly Bills$1,417.80$1,619.65$201.85
Car Fund$876.30$1,077.48$201.18
Travel Fund$100.59 ($2132.42 GIC)$100.71 ($2132.42 GIC)$0.12
Future Housing$1,250.26$1,451.90$201.64
Total$5,777.37$6,379.18$601.81

I was able to add money to three of my accounts this money. I chose not to put any money into the travel fund this month because I won’t be doing any travelling for awhile. It was important for me to add money to my Yearly Bills account because come January I will need to pay my car insurance which will be around $1,550.00.

Just a reminder in case you didn’t read my last net worth post, in my Travel Fund you will see two numbers the one in brackets I placed that money into a GIC with a rate of 1.7% the bank was offering a 3 month GIC with that rate when they announced rates would drop to 1.5% in their savings accounts. The GIC should end in January.

Investments ($199,083.05) + $19,470.61

NovemberDecemberChange
RRSP (RBC)$111,904.00$121,395.87$9,491.87
TFSA$61,901.84$71,085.05$9,183.21
LIRA$4,429.00$4,903.34$474.34
RRSP (WST)$1,377.60$1,698.79$321.19
Total$179,612.44$199,083.05$19,470.61
WST = WealthSimple Trade

Where is the main reason for the huge jump this month in my net worth. Thanks to the stock market my investment accounts grew by 10.8% I will happily take this. I am grateful for this as I know I can’t expect this every month going forward.

Car ($24,000)

I own a 2020 Hyundai Kona which I bought in June. I plan on updating this annually.

Liabilities ($25,529.96) – $674.89

Car loan ($21,779.96) – $324.89

Loan ($3,750) – $350

I continued to make my regular payments towards my two loans, the car bi-weekly and my monthly payment on my other loan. In December it looks like I will get three pays, I haven’t decided yet whether I will put more money towards these loans or use the extra money towards making my first TFSA contribution of 2021.

Net Worth

That nice stock market boost has my net worth sitting at $205,017.37 the first time that it has crossed $200,000 now the goal is to keep it above this number and continue growing.

How was your November? This maybe my last post before Christmas so I would like to wish all of you a Happy Holidays.

Thanks for reading

Matthew

2 thoughts on “December 2020 Net Worth

  1. WOW congrats on crossing the 200K net worth! That’s is fantastic! I’m also getting 3 paychecks in December. Kinda to cool to have an extra pay. I usually save it for vacation funds, but given the pandemic, it will go right to stocks 🙂

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s