January 2021 Net Worth

Hi everyone and welcome to my first net worth post of 2021. I hope 2021 is off to a good start for you. Since this is my first net worth post for the year let’s take a quick look back at 2020. For 2020 I saw my net worth increase by 10.7% I am happy to achieve double digit growth. At the beginning of April because the stock market tanked in March it was down by 14.9% so over the course of the year it was able to rebound.

Cash & Savings ($8,400.17) + $935.89


Emergency Fund$1,081.10$1,407.23$326.13

My cash had a nice boost this month, some of the cash around $200 is set aside for my credit card bill when it arrives, and the rest is set aside to put into my Tax Free Savings Account (TFSA). In 2021 Canadians can contribute $6,000 in this account, I was able to max out my contribution last year and I would like to do this every year going forward. I also continued to build up my emergency fund, my goal is to set aside a little bit of money every pat until it is back up to $2,000.

EQ Bank

Yearly Bills$1,619.65$1,621.71$2.06
Car Fund$1,077.48$1,078.85$1.37
Travel Fund$100.71 ($2132.42)$100.84 ($2,132.42)$0.13
Future Housing$1,451.90$1,453.75$1.85

I didn’t make any contributions to these accounts in December, the difference in values is from the interest I earned. In January I will set putting money into these accounts.

Investments ($199,876.46) + $793.41

RRSP (RBC)$121,395.87$120,973.45-$422.42
RRSP (WST)$1,698.79$2,132.29$433.50
WST= WealthSimple Trade

I saw growth in three of my accounts which is always nice to see. I must say after a great November for me where my investments grew by $19,400 I was expecting maybe a little pullback. I finished the year $123.54 shy of $200k, hopefully I can cross that mark in 2021 and never look back.

Car ($24,000)

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

Liabilities ($24,504.68) – $1,025.28

Car Loan ($21,454.68) – $325.28

Loan ($3,050) – $700

I was able to pay off a little over $1,000 in debt this month which was a great feeling. I received some money for Christmas and decided to make an extra payment to my parents for the loan I have with them. In January I will receive a GST payment from the government, since I don’t need it I will make an extra towards my car to help pay that down.

I finished the year with a net worth of $207,771.95 a 10.7% gain for the year, and my second month in a row over $200k.

Thanks for reading!



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