My net worth update September 2014 (+3.96%)

Last updated: September 15, 2014

Net worth update September 2014

A journey to become a self-made millionaire.

This is my seventh 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.

My investment portfolios gained around $3300 in August, thank you for the Timhortants and Burgerking deals.

In August 2014, my net worth was increased by $2600 or 3.96% from my last update. My dividend portfolio organically gained 3.39% or $3300 (no new stocks or cash transfers into the accounts) in August 2014 and my Also, I received $180.65 dividends during the period.

In August 2014, I spent around $2500 for vacation and summer road trips.

Net worth update – September 15, 2014 ()

Let’s look at my net worth in numbers:

Assets: $120 700 ()

Liabilities: $52 500 ()

  • Student loan: $29400 ()
  • Margin loan: $0 ()
  • Credit card 1: $0 (Paid off) (low interest credit card – 0.99% special rate for 8 months)
  • Credit card 2: $8800 () (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: $1900 () (low interest credit card – 0% special rate for 6 months – will be expired on September 15, 2014)
  • Credit card 5: $0 (low interest credit card – 2.9% special rate for 6 months)
  • (New) Credit card 6: $9900 () (low interest credit card – 0.99% special rate for 12 months – will be expired on August 20, 2015)
  • (Temporary) Credit card 7: $2500 () – Vacation and summer activities expenses

Net worth : $68 200 ()

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 = 1.09 CAD

*I usually don’t keep cash in my bank accounts, but I keep $5000 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.