Last updated: September 15, 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, 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 ()
- *Cash : $5000 (no change)
- Deposited to our new home: $15000 (no change)
- Canadian Stocks:$85100 ( )
- U.S. Stocks: $15600 ()
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.
Income Succession Plan says
Nice month FJ! It is fun to see the net worth go up and up.
Regards,
~ISP
Finance Journey says
Thank you ISP,
I hope this upward tread continue for the upcoming months..
Best Regards,