Net worth update – October 2016

This is my nineth net worth updates report for the year 2016. For those new to my finance journey, 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 financial goal is to become a self-made millionaire in 10 years by saving and investing in stable dividend paying blue-chip companies.

I am posting all my financial information in this website because I love to inspire and motivate people to start their own journey to reach their financial freedom.

You could learn from my successes and failures (experience) and improve your financial IQ.

Along the way, I make financial mistakes and will share my experience here with you. So, you could learn something, avoid those mistakes and save money.

In September 2016, My net worth increased by $4800, thanks to my dividend portfolios’ performance.

Nowadays, I am having hard time to save money from my day job salary. We’ve been getting some big ticket expenses every month. It is little hard to avoid as a family with little kid (s).

Thus, my net worth is more depending on my stock portfolios performance than my saving/spending rate.

I am so glad that we built a sizable investment portfolio with quality stocks before we have a baby, so I could sit back and let the money work for me.

Now let’s talk about my net worth and finacial numbers in August

Last month, my net worth increased by $4800 or 3.36% from my last update.

Year-to-day gain is $39 400 (+36.38%).

Net worth update as of September 30, 2016 (+3.36%)

Assets:$483 000 (+$3800)

• Cash: $500 (no changed)


• Home: $270 000 (no changed) – Yearly adjustment with inflation


• Canadian Stocks: :$166 500 ( +$3600)


• U.S. Stocks:$38 400 (-$300)


• Employer’s Pension Plan: $7600(+$500)

Liabilities:$335 300 (-$1000)

• Mortgage :$184 900 (-$500)


• Student loan: $24 900 (-$200)


• Margin loan:51 700 (+$1000)


• Credit card 1:$7100 (-$900) (low interest credit card – 0.99% special rate for 10 months – will be expired in October 2016)


• Credit card 2:$9400 (-$100) (low interest credit card – 0.99% special rate for 12 months – will be expired in March 2017)


• Credit card 3: $24 100 (-$100) (low interest credit card – 0.99% special rate for 10 months – will be expired in November 2016)


• Line of Credit 4: $9400 (-$100)(low interest balance transfer – 2.99% special rate for 12 months – will be expired in May 2017)


• Credit card 5: $4800 (no changed) (low interest credit card – 0.99% special rate for 10 months – will be expired in December 2016)


• Credit card 6: $0 (paid-off)


• Credit card 7:$500(-$100) – (regular expenses)- high interest rate of 19.99%.


• Line of Credit 1 : $10 300 (no changed) – (low interest credit card – 2.99% special rate for 12 months – will be expired in April 2017)


• HELOC:$8200 (no changed) – (low interest of 3.30% – primte + 0.5%)

Net worth :$147 700 (+$4800) as of September 30, 2016

My net worth up by 3.36% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.31 CAD

I have a huge credit card debts because I take advantage of low balance transfer promotion rate and invest in high quality dividend stocks. Learn, earn, save,invest and leverage your skills are the keys to become wealth.

Thank you so much for being in my finance journey and for your support.

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