This is my sixth 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.
In June 2016, my net worth increased by $3100 or 2.30%, thanks to the positive momentum in the stock markets around the world.
Also, I received three pay cheques from my day job – as you know everybody receive bi-weekly salary gets three pay cheques twice. My next one will be in November 😀 .
But, June was very expensive month for our family. Second property tax bill and our closed-relative (& friend) wedding expenses cost us more than $4000.
I would have posted bigger gain in June if I didn’t have those expenses.
However, big gained in my investment holdings and dividend payments helped me to record a decent increased in my net worth.
Now, let’s look at my net worth in numbers.
Last month, my net worth increased by $3100 or 2.30% from my last update.
Year-to-day gain is $29 600 (27.33%).
Net worth update as of June 30, 2016 ()
Assets:$472 000 ()
- Cash: $500 (no change)
- Home: $270 000 (no change) – Yearly adjustment with inflation
- Canadian Stocks: :$157 600( )
- U.S. Stocks:$37800 ()
- Employer’s Pension Plan: $6100 ()
Liabilities:$334 100 ()
- Mortgage :$186 200 ()
- Student loan: $25 500 ()
- Margin loan:$48400 ()
- Credit card 1:$8300 () (low interest credit card – 0.99% special rate for 10 months – will be expired in September 2016)
- Credit card 2:$9700 () (low interest credit card – 0.99% special rate for 12 months – will be expired in March 2017)
- Credit card 3: $24 200 () (low interest credit card – 0.99% special rate for 10 months – will be expired in November 2016)
- Line of Credit 4: $9700 ()(low interest balance transfer – 2.99% special rate for 12 months – will be expired in May 2017)
- Credit card 5: $3000 () (low interest credit card – 0.99% special rate for 10 months – will be expired in December 2016)
- Credit card 6: $0 (no change) (paid-off)
- Credit card 7:$500 () – (regular expenses)- high interest rate of 19.99%.
- Line of Credit 1 : $10 300() – (low interest credit card – 2.99% special rate for 12 months – will be expired in April 2017)
- HELOC:$8300 () – (low interest of 3.35% – primte + 0.5%)
Net worth :$137 900 () as of June 30, 2016
My net worth up by since my last update.
- all amounts are rounded to the nearest $100;
- all numbers are in CAD; and
- Conversion rate 1.00 USD = 1.30 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.