A short intro for new readers
If you are not new here, then you can simply skip to the next section.
For those new to my finance journey, this net-worth update is a simple report I publish 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 by December 2024 (10 years plan). I have a strong belief that I can achieve this goal by saving and investing in high-quality dividend-paying blue-chip companies. I am also a strong believer of ‘compounding’ power, and I believe if I can push myself now and build a decent net-worth, then the ‘ compounding effect’ will give a heavy lifting in my later part of this journey.
I am posting all my financial information on 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 knowledge.
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.
Also, I like to publicly track my progress and get feedback from like-minded people.
My net-worth
My net-worth increased by or in June 2019.
The sixth straight monthly gain, thanks to the stunning performance of the stock markets.
2019 is an unusual year so far with uninterrupted gain. The U.S markets and Canadian markets are trading near the all-time high.
There are no shortages of good and bad news. Reading all of them and make a buy/sell decision will kill your time.
I usually check my portfolio performance at least once a day, mostly at the end of the day after work. I spend a little bit of time to review the performance of my each holdings and read company news if I notice any significant share price movements.
But, I paused checking my investments often at least for the next two months because I decided to enjoy my time with my family for almost every single days in this fabulous summer weather.
In winter months, I have nothing much to do after work. I hate to go outside in freezing weather. Thus, I usually spend my time reading books, annual reports, and good financial blogs. And also spend time with my son and play some games at home or an indoor playground near our house.
In summer months, we do a bunch of things outside. We usually allocate extra money for summer funs and go for road trips, vacations, etc. A few of them cost a lot.
However, for this summer, we decided to do budget-friendly activities.
First and most obvious reason to save some money and the second reason to explore the attractions and activities near our area. Most of them were free and a few of them for just a couple of bucks.
Also, we take water bottles, juices and meals from home instead of buying them out.
So far, we spent less money than we did last year by avoiding long trips and expensive vacations.
By doing all this, we were able to save a couple of hundred dollars and reduced some debts.
Plus, we were able to explore a lot of new attractions and participate in a couple of new activities, most of them were very closed to our home, but some were required a little travel.
We are in the area for almost 5 years now, but honestly we missed a lot because whenever we were thinking about summer holidays or long weekends, we always looked for places or activities somewhere far from our home – like out of province or out of the country.
Now, we are getting smart with money.
This simple decision helped us to reduce our debts by $1700 last month while enjoying the summer with a bunch of new things.
Let’s see the details in numbers:
Net worth update as of June 30, 2019 ()
Assets: $577 300 ( )
- Cash: $1000 ()
- Home: $286 100 (no changed) – Yearly adjustment with average inflation rate of 2% in every January
- Canadian Stocks: : $214 400 ( )
- U.S. Stocks: $39 400 ( )
- International Stocks: $10 500 ( )
- Employer’s Pension Plan: $25 900( )
Disclaimer..
Please note the information posted on this website is the opinion of my own and should not be considered as professional financial advice. I am not a financial professional, and I can buy, sell, or hold any investment at any time.
Any transactions I publish on this website are not recommendations to buy or sell any securities or investments.
My financial situations, goals and risk tolerances will be much different than you. Therefore, please do your own research or consult with a qualified financial professional before even considering using the information obtained from this website.
Liabilities: $317 800 ( )
- Mortgage : $168 700 ( )
- Student loan: $12 600 ( )
- Margin loan: $72 100 ()
- Credit card 1: $13 300 () (low interest credit card – 0.99% special rate for 12 months – will be expired in January 2020)
- Credit card 2: $4500 () (low interest credit card – 0.99% special rate for 12 months – will be expired in February 2020)
- Credit card 3: $17 100 ( ) (low interest credit card – 0.99% special rate for 12 months – will be expired in November 2019)
- Credit card 4: $7900 () – a new promotional offer at 1.99% special rate – expired in March 2020)
- Credit card 5: $1800 ( ) – (low interest credit card – 1.99% special rate for 12 months – will be expired in October 2019)
- Credit card 6: $5100 ( ) – (low interest credit card – 0.99% special rate for 12 months – will be expired in September 2019)
- Credit card 7: $600 ( ) – (regular expenses)- high interest rate of 19.99%.
- Line of Credit 1 : $14 100 ( ) – (low interest credit card – 3.00% special rate for 12 months – will be expired in December 2019)
Net worth : $259 500 ( ) as of June 30, 2019
My net worth was 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 = 1.3096 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 following my finance journey and for your great support.
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