Last updated: October 10, 2014
A journey to become a self-made millionaire.
This is my eighth net worth updates report. For those new to my finance journey, a net worth update is a simple report I post every month which tracks the progress of my journey to reach my financial goals. My ultimate goal is to become a self-made millionaire in 10 years by saving and investing in stable dividend paying blue-chip stocks.
In September 2014, my net worth was increased by $1600 or 2.34% from my last update. The gain is very low compare to the previous months due to the declines in Canadian stocks market.
Also, I received $426.06 dividends during the period.
Net worth update – October 10, 2014 ()
Let’s look at my net worth in numbers:Assets: $117500()
- *Cash : $7500 ()
- Deposited to our new home: $15000 (no change)
- Canadian Stocks:$79300( ) – Sold my Tim Hortons shares
- U.S. Stocks: $15700 () – Due to the U.S dollar appreciation
Liabilities: $47700 ()
- Student loan: $29300 ()
- Margin loan: $0 (no change)
- Credit card 1: $0 (Paid off)
(low interest credit card – 0.99% special rate for 8 months) - Credit card 2: $8600 () (low interest credit card – 0.99% special rate for 12 months) – will be expired on December 15, 2014
- Credit card 3: $0 Paid off
(low interest credit card – 1.99% special rate for 6 months) - Credit card 4: $0 () (low interest credit card – 0% special rate for 6 months – expired on September 15, 2014)
- Credit card 5: $0
(low interest credit card – 2.9% special rate for 6 months) - (New) Credit card 6: $9800 () (low interest credit card – 0.99% special rate for 12 months – will be expired on August 20, 2015)
- (Temporary) Credit card 7: $0 () – Vacation and summer activities expenses
Net worth : $69 800 ()
My net worth up by since my last update.
Note
- all amounts are rounded to the nearest $100;
- all numbers are in CAD; and
- Conversion rate 1.00 USD = 1.11 CAD
*I usually don’t keep cash in my bank accounts, but I keep $7500 in my chequing account for the new home deposit.
I have a huge credit card debt because I took advantage of “low balance transfer promotion and invested in high quality dividend stocks. Taking modest risk and leveraging are the keys to become wealth.
Hey found your site through J$s list. Its nice to see the positive increases month over month. My networth didn’t fair so well through October.
One thing, if you are willing to take a criticism on your page layout. Under your liabilities you have +xxx in green for each category. It would make more sense if you had -xxx in green for when you pay it down and +xxx in red if you incur a new expense or one goes up. If you did it this way it would be easier to read (i had to go back to last month to see if it was actually going up or down)
Anyways keep up the good work, i cant comment on the leveraging aspect as i have never done it, but it sounds serious how people are talking about it.
Jeff
Thank you Jeff for stopping by and thank you once again for the color advise.
I think you are correct. I will take your advise and follow from my next post.
Cheers,
as a dividend investor have you thought go cpg, wcp bne, bte , all energy stocks but all safe at $70 oil
Thank you Peter for stopping by,
Actually, I’ve never thought to adding those energy stocks in my portfolio. I like those energy stocks – they all are great companies, but I already have SU, CVX and COS in my portfolio. I guess I have good explore in the Canadian energy sector.
Best Regards,