April 2018 Net Worth (+$655.76)

April Net WorthHi everyone and welcome to my net worth report for April. I saw a second straight month of growth so I am quite happy with that. April was a relatively quiet month for me, only one exciting thing occurred I got hired on by the school board that I worked for. Back in November I got hired as a temp/casual worker so fast forward to April a job became available and I was able to apply for it, I went through the interview process and found out I was successful.

So what does this new job mean for me you ask? Well now I am considered a part-time employee and have 20 hours a week that are mine and mine alone. Also since I have a great boss I have been given an additional 17.5 hours per week. So now I currently work 37.5 hours per week vs 32.5. I received a raise with the new job which will help my net worth and the march towards becoming debt free. Also one last thing that I am quite excited about I can now start contributing to a pension plan which will definitely help future me.

Let’s get to the numbers shall we šŸ™‚

April March Change
Cash & Savings $5,312.87 $3,927.48 $1,385.39
Investments $120,214.00 $119,882.67 $331.33
Car $14,282.00 $14,969.00 -$687.00
Liabilities $10,854.79 $10,557.27 $297.52

Cash & Savings ( +$1,385.39)

April March Change
Car Account $911.61 $62.79 $848.82
Cash $559.96 $316.80 $243.16
Emergency Fund $3,841.30 $3,547.89 $293.41

I saw a nice increase in my cash & savings in April as I was able to replenish my cash in my car account. Hopefully sometime in May I will withdraw this money and put it towards my car. My cash on hand and emergency fund both saw increases to their balances as I made an effort to put more money away.

Investments (+$331.33)

April March Change
Locked in RRSP $3,948.00 $3,978.03 -$30.03
TFSA $29,195.00 $28,504.11 $690.89
RRSP $87,071.00 $87,400.53 -$329.53

My investments saw an increase in April but if it wasn’t for the dividends I receive $533 I would have had a loss. I do however like the growth that I received in my TFSA account, I received less than $200 in dividends in the account so I saw some real growth and hope it continues.

Car ( $14,282.00)

I currently own a 2015 Hyundai Elantra GLS and according to Canadian Black Book the value of the car is now $14,282.00. I check this every three months.

Liabilities

April March Change
Credit Card $670.86 $76.44 $594.42
Car $10,183.93 $10,480.83 -$296.90

My liabilities actually increased in April due to some extra spending I had to make. My parents had birthday’s at the end of the month and in early May, I had to get a new sticker for the car and renew my driver’s licence and health card. I made two payments on my car loan.

Net Worth

I am hoping to get my net worth into the $130k range with my next report.

Well that is a wrap for my net worth report. How did you guys do? I hope it was positive, please let me know in the comment section.

 

April Net Worth1

 

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March 2018 Net Worth (+$4,146.66)

Networth

Hey everyone, I hope you are doing well. Today I will be sharing with you my net worth for March. As you can see in the title March was a positive month for me, my first of 2018. A big reason for the increase in March was because I received my tax refund and put it towards my debt. Hopefully by the end of this year I will become debt free and that should have a big impact on my net worth.

All numbers below are as of March 31, 2018.

March February Change
Cash & Savings $3,927.48 $4,322.29 -$394.81
Investments $119,882.67 $119,722.94 $159.73
Car $14,969.00 $14,969.00 $0.00
Liabilities $10,557.27 $14,862.54 $4,305.27

Cash & Savings (-$394.81)

March February Change
Car Account $62.79 $909.53 -$846.74
Cash $316.80 $412.76 -$95.96
Emergency Fund $3,547.89 $3,000.00 $547.89

My cash is down slightly last month and the reason for this is I withdrew a large amount from my car account and made an extra payment in an attempt to pay off my loan quicker. My emergency fund saw a nice increase, over time I would like to increase this number back to $10,000.

Investments (+$159.73)

March February Change
Locked in RRSP $3,978.03 $3,818.94 $159.09
TFSA $28,504.11 $28,364.18 $139.93
RRSP $87,400.53 $87,539.79 -$139.26

March saw me eek out a small gain in my investments. As you all know, I am a dividend investor and March saw me receive a record amount of dividends $519. Without that I would have had a down month.

Car ($14,969.00)

I currently own a 2015 Hyundai Elantra GLS, I check the value every three months. I will update this figure in my April update.

Liabilities

March February Change
Credit Card $76.44 $78.19 $1.75
Car $10,480.83 $12,459.68 $1,978.85
Family Loan $0.00 $2,324.67 $2,324.67

March was an excellent month for my liabilities I was able to reduce what I owed in every category above or eliminated it altogether. On my car I made two regular payments and an extra payment of $1,700. Thanks to the tax refund I received I was able to completely repay the loan to my family loan.

Total Net Worth

I love seeing that net worth grow and hopefully now it will start growing month over month.

Well that wraps up my March net worth report. As you saw a big reason for the growth this month was due to debt repayment. It felt great paying off all that money and I don’t have any plans on taking on more debt anytime soon.

I hope you all had a great month of March and saw your net worth growth.

Thanks for reading

Matthew

February 2018 Net Worth ( -$1,387.78)

February

Hey folks how are you? Today I get to share with you my net worth for February. I saw another down month my second straight to start the year. I’m not to concerned with this I know it’s short term pain for long term gain. In fact I’m surprised my net worth wasn’t lower. Why do I say this?? Well my net worth is overwhelming tied to the stock market. In February we saw some volatility with the markets. I believe I took advantage of the situation as I bought stocks 8 times during the month.

With this post three numbers will stand out to you as you read it. They are my cash, investments and liabilities. As I mentioned above about all the purchases I made I needed cash to make it happen. Also last month on Twitter I put up a poll mentioning that I was seriously thinking about taking out a loan from a bank to put towards investing. The poll was my most popular to date and 85% of you voted that I shouldn’t borrow to invest. I received lots of advice on the poll as well. I will you now before you read it that I did borrow money I went against your advice. Why did I do it? Well you see someday I would like to retire and at the moment I don’t have a pension so I need to get my money working for me for as long as possible. I don’t mind paying the money back, especially the amount I borrowed. I borrowed a total of $3,000, instead of borrowing from a bank I asked my family if they had any cash lying around that they weren’t using. They gave me the money interest free and I pay them back every couple of weeks.

Let’s get to the numbers shall we.

All of the numbers below are as us February 28th, 2018

February January Change
Cash & Savings $4,322.29 $10,738.13 -$6,415.84
Investments $119,722.94 $112,588.89 $7,134.35
Car $14,969.00 $14,969.00 $14,969.00
Liabilities $14,862.54 $12,756.58 $2,105.96

Cash & Savings ( -$6,415.84)

February January Change
Car Account $909.53 $565.90 $343.63
Savings $412.76 $2,803.58 -$2,390.82
Emergency Fund $3,000.00 $7,368.65 -$4,368.05

Reducing my cash just over $6,000 in one month is not a decision I made lightly, I believe my decision was the right one and I will see the results later down the road. At the time of the decision my cash was earning me between $4.00 and $4.50 in interest per month. By putting that money to work for me in the stock market I will be earning over $300 annually in dividends.

I will be easing up on my investing and will start to rebuild my cash pile in the future. The car account is close to $1,000 and once it hits that mark I will withdraw the money and make an extra payment on my car.

Investments ( +$7,134.35)

February January Change
Locked in RRSP $3,818.94 $3,995.89 -$176.95
TFSA $28,364.18 $26,225.00 $2,139.18
RRSP $87,539.79 $82,368.00 $5,171.79

Locked In RRSP

A slight decrease to the value of this account, during the month I took over full control and moved my money out of a mutual fund and invested in Enbridge Income Fund Holdings. I expect the value of this account to rise over time.

TFSA

This account saw growth from the cash I put into it and through the buys I made.

RRSPĀ 

This account grew the most as this is where I hold most of my blue chip stocks and a few of them came on sale in February šŸ™‚

Car ($14,969.00)

I currently own a 2015 Hyundai Elantra GLS, I check the value every three months. I will update this figure in my April update.

Liabilities

February January Change
Credit Card $78.19 $0.00 $78.19
Car $12,459.68 $12,756.58 $296.90
Family Loan $2,324.67 $0.00 $2,324.67

Credit Card

I owed $78.19 on my credit card at the end of the month.

Car

I made two payments in the month of February reducing what I owe to $12,756.58.

Family Loan

As I mentioned above I borrowed $3,000 to invest with, I have been able to pay back $675.33.

Total Net Worth

Well as you can see I had another down month but I’m not worried, hopefully I will see a rebound in March.

Well folks that wraps up my February net worth report. How was your month? Did your net worth go up?

Thanks for reading

Matthew

January Net Worth $125,539.44 (-$1,102.33)

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Hello folks it’s time for me to share with you my net worth for January. January was a mixed month for me, my net worth declined for the month, but I also reduced my debt more than usual. All the numbers that I will share with you below are what I had at the end of January.

As I write this last week was such a volatile week for the stock market that I am happy with how January turned out for me. One of my goals for 2018 is to increase my net worth by $50k , I still have 11 months to try and achieve this.

All numbers are as of January 31st, 2018

January December Change
Cash & Savings $10,738.13 $10,642.29 $95.84
Investments $112,588.89 $114,643.64 -$2,054.75
Car $14,969.00 $15,343.00 -$374.00
Liabilities $12,756.58 $13,987.16 $1,230.58

Cash & Savings +$95.84

January December Change
Car Account $565.90 $733.96 -$168.06
Savings $2,803.58 $2,544.18 $259.40
Emergency Fund $7,368.65 $7,364.15 $4.50

Cash – $3,369.48 (+$91.34)

My cash only increased by $91 this month which isn’t a lot but I am happy with it. One reason why the increase was low, is because my car account reached $1,000 in January once it did that I withdrew the money and made an extra payment on my car. I will try and do this again in February.

Emergency Fund – $7,368.65 (+$4.50)

I did not touch my emergency fund in January and it collected $4.50 in interest.

Investments $112,588.89 (-$2,054.75)

January December Change
Locked in RRSP $3,995.89 $3,960.64 $35.25
TFSA $26,225.00 $25,989.00 $236.00
RRSP $82,368.00 $84,694.00 -$2,326.00

January was a down month for my investments. I believe due to the higher interest rates that the US Fed and Bank of Canada are announcing is having an impact on my portfolio. My utilities, telecom have been declining causing the negative month.

Car $14,969.00 (-$374.00)

I currently own a 2015 Hyundai Elantra GLS, I check the value every three months. In January I checked it and the value had dropped $374.00. The current value sits at $14,969.00. I will update this figure in my April update.

Liabilities – $12,756.58 (-$1,230.58)

January December Change
Credit Card $0.00 $0.00 $0.00
Car $12,756.58 $13,987.16 -$1,230.58

Car – $12,756.58 (-$1,230.58)

There was a big drop in my debt as I made an extra payment of $1,000 on my car. I’m that much closer to paying off my car šŸ™‚

Total Net Worth

As you see there was a slight decrease in my net worth in January. With so much of my net worth tied to the stock market I can expect to see some swings up and down. In the future I will need to change this and start saving money in a bank account.

Well folks that wraps up my latest net worth post. How did you do in January? Was your net worth higher or lower?

Thanks for reading

Matthew

January 2018

December 2017 Net Worth

December 2017 Net Worth

Hey guys it’s net worth time. That’s right it is time for me to share with you my net worth that I had at the end of December. This is only my third net worth update but it is quickly becoming one of my favourite posts to write. This my first update I have found myself wanting to see that number grow and grow. It has made me want to save more, invest more. So far my net worth continues to climb in an upward trajectory it increased by over $2k in December.

All numbers are as of December 31st, 2017

December November Change
Cash & Savings $10,431.21 $8,587.49 $1,843.72
Investments $114,643.64 $114,439.70 $203.94
Car $15,343.00 $15,343.00 0
Liabilities $13,987.16 $14,679.78 -$692.62

Cash & Savings (+$1,843.72)

December November Change
Car Account $733.96 $247.28 $486.68
Savings $2,544.18 $1,335.89 $1,208.29
Emergency Fund $7,364.15 $7,004.32 $359.83

Cash – $3,278.14 (+$1,694.97)

I had some big savings in December even through the Christmas spending I was able to increase my cash by $1,694.97. How did I do this? Well I received 5 pays from my two jobs and that’s what’s allowed me to increase my cash by so much.Ā  My car account had a nice increase to in and hopefully in January it will reach $1k once that happens I plan on withdrawing the money and putting it on my car loan.

Emergency Fund – $7,364.15 (+$359.83)

I also had a big gain in my emergency fund because in December I received two interest payments from my bank combined were worth a total of $9.83. Also I received $350 as a Christmas gift and thought my emergency fund would be a good place to put it as there was nothing I needed to buy at the moment.

Investments $114,643.64 (+$203.94)

December November Change
Locked in RRSP $3,960.64 $3,980.44 -$19.80
TFSA $25,989.00 $25,614.39 $374.61
RRSP $84,694.00 $84,844.87 -$150.87

December was not a great month for growth for my investments as two of my three accounts were negative. What helped keep my investments value growing was the dividends I received in the month ($404) and the extra $300 I deposited into my TFSA. Hopefully in January all three of my accounts will be in growth mode.

Car – $15,343.00 ($0)

I currently own a 2015 Hyundai Elantra GLS that has a current value of $15,343.00 it is the same value as last month. I will be checking the value of it every three months so next update it should be different.

Liabilities – $13,987.16 (-$692.62)

December November Change
Credit Card $0.00 $247.27 -$247.27
Car $13,987.16 $14,432.51 -$445.35

Credit Card – $0 (-$247.27)

I completely paid off my credit cards, I don’t owe anything on them šŸ™‚

Car – $13,987.16 (-$445.35)

In December I made three payments towards the car loan for a total of $445.35 bringing the amount I owe to just under $14k.

Total Net Worth

As we enter January my net worth stood at $126,430.69 an increase of $2,740.28. This month my savings helped in a big way. Hopefully the market will continue to rise and just maybe I can see if my net worth can grow by $3k next month.

All in all I am very happy with December I continue to go in the right direction.

I hope your net worth continues to grow. So what do you guys think? Please feel free to share your thoughts in the comment section.

Thanks for reading.

Matthew

November 2017 Net Worth

November 2017 Net Worth #2

Hi everyone and welcome to my second ever net worth post. The month of November was a pretty good month for me both financially and personally. On the financial front I had a very good month my net worth increased by over $2k. Personally I got a new job which pays significantly more than my other two jobs. The new job should allow me to further increase my savings and investing.

Let’s go see how I did in each category.

All numbers are as of November 30, 2017

November October Change
Cash & Savings $8,587.49 $7,586.27 $1,001.22
Investments $114,439.70 $113,348.20 $1,091.50
Car $15,343.00 $15,343.00 No Change
Liabilities $14,679.78 $14,799.41 (-119.63)

Cash & Savings (+$1,001.22)

November October Change
Car Account $247.28 $0.00 $247.28
Savings $1,335.89 $586.27 $749.62
Emergency Fund $7,004.32 $7,000.00 $4.32

Cash – $1,583.17 (+$996.90)

My cash balance currently sits at $1,583.17 a big increase over October’s figure. This number does not include my emergency fund.Ā  I now have 4 savings accounts, one of my accounts I have with Tangerine Bank the money that goes into that account is from my credit card which is a cash back card and the money is deposited into the account at the end of the month. Depending on how much I spend the amount is deposited is usually between $4 to $7.

I have created a new account named Car Account I will be using this account to save up money, then use that money to put on my car to help pay it off sooner. The goal is to add money to this account each month until it reaches $1k then remove the money and put it towards my car payments.

Emergency Fund – $7,004.32 (+$4.32)

My emergency fund grew $4.32 last month that is from the interest my bank paid me.

Investments (+1,091.50)

November October Change
Locked In RRSP $3,980.44 $3,934.84 $45.60
TFSA $25,614.39 $25,544.44 $69.95
RRSP $84,844.87 $83,868.92 $975.95

Car – $15,343.00 ($0)

I currently own a 2015 Hyundai Elantra GLS that has a current value of $15,343.00 it is the same value as last month. I will check the value every three to four months. I found the value of my car on the siteĀ Canadian Black Book.Ā 

LiabilitiesĀ 

November October Change
Credit Card $247.27 $70.00 $177.27
Car $14,432.51 $14,729.41 $296.90

Credit Card $247.27 (+$177.27)

My credit card bill increase this month over last due to a little more spending.

Car $14,32.51Ā  (-$296.90)

I made two car payments in November totaling $296.90. Slowly I am paying off my car.

Total Net Worth

As we entered December my net worth stood at $123,690.41 an increase of $2,212.35. The stock market continues to rise which was a big help to me. Also I was able to add $1k in my savings account.

Well that wraps up my second ever net worth post. What do you guys think? How did you do in November?

Thanks for reading

Matthew

October 2017 Net Worth

Net Worth

Hello everyone how are you? Welcome to my October net worth post. This is the first time I’m doing a net worth post. These posts are very popular with other bloggers and they gave me the inspiration to write this post, and share with you my net worth.

I would like to say that I decided to do this post about a week ago therefore I don’t have any figures for September to compare, so I will just post my numbers from the end of October. Going forward I will start comparing my numbers to the previous month.

Let’s get started shall we šŸ™‚

Assets

Cash – $586.27

My cash balance currently sits at $586.27. This number does not include my emergency savings account. I got $586.27 by adding up my three savings accounts, one of my accounts is with Tangerine bank and the money that goes into that is from the cash back that I earn from using my credit card so usually only about $4 to $7 goes into that per month. My cash balance is low because what I have been doing is once I get paid I pay off my credit cards, then put money into my emergency fund, then finally I put the rest into my TFSA account.

Emergency Fund – $7000

This is the area that I have spent the most time improving this year. At the beginning of the year I only had $2,500 set aside. In October I hit the $7,000 mark in my emergency fund and have decided that this is a good figure for me to be at.

Investments – $113,166.20

My investments come from three accounts I have a Locked In RRSP which I received from a previous employer, also I have a TFSA and RRSP which I mention often here on the site. My main focus at the moment is to continue to build up my TFSA account which is tax free and if I withdraw money I won’t be taxed unlike my RRSP.

  • Locked In RRSP $3,934.84
  • TFSA $25,544.44
  • RRSP $83,868.92

Car – $15,343.00

I currently have a 2015 Hyundai Elantra GLS I used the siteĀ Canadian Black BookĀ Ā Ā to get the value of my car. I will only check the value of my vehicle every three to four months.

LiabilitiesĀ 

Credit Cards – $70

Every time I get paid I pay off my credit cards. At the end of October I currently owed $70 on one of my cards.

Car – $14,729.41

I currently owe $14,727.41 on my car. I was one of those people who financed their car for 8 years because I wanted the lowest payments. I regret doing so now I currently have about 4 years left to pay off the car, but next year I am going to focus on paying off the car quicker.

Total Net Worth

As we entered November my net worth stood atĀ $121,296.06Ā a little higher than what I thought it would be I guess that is why it is good to review your numbers often to see where you sit financially.

Well folks that does it. Thank you for reading my very first net worth post. If you have any comments please feel free to post them in the comment section below I always love hearing from you.

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Thanks

Matthew