Last updated: June 03, 2014
This is my fourth net worth updates report. I will be posting my net worth updates by the end of months.
May was one of the expensive months for me as I had some car expenses and we went for a road trip in the Victoria’s Day long weekend. Also, I had some other unplanned expenses such mother’s day gift, yearly donation, etc.
In May 2014, my net worth was increased by from my last update, mostly because of my bigger tax refund.
Net Worth Update June 03, 2014 ()
Let’s look at my net worth in numbers:
Assets: $115 000 ()
- *Cash : $15 000 ()
- Deposited to our new home : $5000 ()
- Canadian Stocks:$79500 ()
- U.S. Stocks: $15500 ()
Liabilities: $58 200 ()
- Student loan: $29800 ()
- Margin loan: $1600 ()
- Credit card 1: $6600 () (low interest credit card – 0.99% special rate for 8 months)
- Credit card 2: $9300 () (low interest credit card – 0.99% special rate for 12 months)
- Credit card 3: $1300 () (low interest credit card – 1.99% special rate for 6 months)
- Credit card 4: $9600 () (low interest credit card – 0% special rate for 6 months)
- Credit card 5: $0 (low interest credit card – 2.9% special rate for 6 months)
Net worth : $56 800 ()
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 = 1.10 CAD
*I usually don’t keep cash in my bank accounts, but I keep $15000 in my chequing account for the new home deposit.
I have a huge credit card debts because I took advantage of low balance transfer promotion and invested in high quality dividend stocks. Taking modest risk and leveraging are the key to become wealth.
Nice month. Tax refund or not, a jump of almost 15% in one month is very impressive! Way to go. Keep up the good work.
Wishing you continued success in your journey! AFFJ
Btw, you should look into posting your net worth on Rockstar Finance’s site if your not already on there. 🙂
Thank you AFFJ,
Last month was awesome month. I may not get similar tax return in the future :(.
I am already in the Rockstar site 😀
Cheers,
This was a really great month for you. Thanks for sharing. I guess the tax refund really helped for the month. Something that is not typical for other months. Still keep up the good work with your dividend stocks!
Thank you DivHut,
Yes, the tax refund hiked my net worth for last month.
Cheers,
Is this right – you lost 200 dollars on your stock portfolio that you incurred $500 in interest to own? That means you are $700 more in the hole than you would have been if you just paid off your debts on May 1st. Do you not see the error in your ways?
Thank you Sam for stopping by,
Last month, my stock portfolio value dropped by $200, but it is negligible when you compare the entire portfolio. When you invest in stocks, you always expect the ups and downs on its way, and it is not the right way to calculate just one month return, we should calculate the overall return for long run.
Best Regards,
Big tax refund or not, nice job on the increased change in net worth.
Thank you Elizabeth. It was a nice increased, but I may not repeat this in the coming months :D.
Best Regards,
Another great month for you, 15% gain is great. Keep it up.
Hope you get the 6 figure net woth by end of the year.
thanks,
Thank you Chris,
Yes, 15% gain is great, but I may not repeat same tread for the upcoming months.
Best Regards,
Congrats on another great month. Good to see the trend continue upward.
R2R
Thank you R2R,
I am so happy with my current net worth because I was in deep debt just 2 year ago. I hope the upward tread continue for a while.
Cheers,