Net worth update – November 2015

A journey to become a self-made millionaire.

This is my 10th net worth updates report for the year 2015. 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 financial goal is to become a self-made millionaire in 10 years by saving and investing in stable dividend paying blue-chip companies.

Our networth improved a lot from recent declines.

In October, I didn’t have any big bills or expenses as I had last few months. But, there are few few discretionary expenses last month for toys and cloths for growing little baby. These type of expenses are widely expected in a family with small kids.

Now, let’s look at my net worth changes in numbers.

Last month, my net worth increased by $8800 or 8.70% from my last update.

Also, I received $568.25 dividend income during the period

Net worth update as of October 31, 2015 (+8.70%)

Assets:$426 900 (+$8300)

• Cash: $700 (+$200)


• Home: $265 000 (no change)


• Canadian Stocks: : $128 200 ( $6000) – Recent purchases


• U.S. Stocks:$31200 (+$1700)


• Employer’s Pension Plan: $1800(+$400)

Liabilities:$317 000 (-$500)

• Mortgage :$190 000 (-$200)


• Student loan: $26 800 (-$100)


• Margin loan:$45 900 (+$1600)


• Credit card 1:$7300 (-$100) (low interest credit card – 0.99% special rate for 12 months – will be expired in December 2015)


• Credit card 2: $9700 (-$200) (low interest credit card – 0.99% special rate for 15 months – will be expired in March 2016)


• Credit card 3: $8600 (-$9900) (low interest credit card – 0.99% special rate for 6 months – will be expired in November 2015)


• Credit card 4:$4300 (-$100) (low interest credit card – 1.99% special rate for 9 months – will be expired in November 2015)


• Credit card 5: $0 (no change)


• Credit card 6: $0 (no change) (low interest credit card – 0.99% special rate for 12 months – will be expired in August, 2015)


• Credit card 7:$14 400 (+$8500) – (regular expenses + home improvement work ) – low interest rate of 1.99% on balance transfer.


• Credit card 8:$1000 (no change) – (regular expenses) – high interest rate of 19.99%.


• HELOC : $9000(no change) -(low interest – 3.35% – primte + 0.5%)

Net worth :$109 900 (+$8800) as of October 31, 2015

My net worth up by 8.70% since my last update.

Note

• all amounts are rounded to the nearest $100;
• all numbers are in CAD; and
• Conversion rate 1.00 USD = 1.35 CAD

I have a huge credit card debts because I took advantage of low balance transfer promotion rate and invested in high quality dividend stocks. Taking modest risk and leveraging are the keys to become wealth.

Total increased in the year 2015 is $26 900 .

My debt level was slightly decreased in October.

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

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