This post contains affiliate links, which means I may receive a small commission, at no cost to you, if you make a purchase through a link. Please read my disclosure for more details(Last Updated On: May 25, 2018)
I started tracking my net worth report last month for the very first time. A net worth report is, in my opinion, a better alternative to having a budget because you can see exactly how much you’re worth and how you’re tracking towards your long-term savings goals. In my opinion, it’s an even better way to keep me in line with my budget than an actual budget itself.
I track all my income and expenses in USD for the purposes of keeping things simple. Over 75% of my readers are American.
Related: March 2018 Income Report: $767,269
Why do I share my net worth report?
- I want to monitor my net worth over time and hopefully see some progress
- I want to be transparent about my money goals and hold myself accountable to them
- My net worth report can inspire others to set their own net worth goals
- It’s fun to talk about money and I know people are nosey 😉
- It helps me connect with other personal finance bloggers out there
- I’m an accountant and I love talking at numbers
What this net worth report is NOT for
- I am not posting these reports to brag about how much money I have. Sure, my net worth might be considered “high” for someone my age but I also have a huge amount of debt!
- This report is solely for educational and inspirational purposes
- I’m not looking for criticism on how I spend my money. But if you have suggestions on how I can grow my savings then feel free to comment 🙂
April 2018 Net Worth: $765,059 USD
|Net Worth||April 2018||MoM Change ($)||MoM Change (%)|
Savings: I have two savings accounts: one in Canada and one in Switzerland.
This month, I transferred 2,000 Swiss Francs back to Canada. I use TransferWise to transfer money between accounts and the fees are the lowest that I’ve found. I only pay about 5 francs for every 1,000 francs transferred. It beats PayPal’s rate any day. Sign up through my link and get a free international transfer of up to £600.
Cryptocurrencies: Yay, the Bitcoin increased by 43% this month. Best passive income ever! Sign up for a free Coinbase account and receive $10 in cryptocurrencies.
Retirement Accounts: As I mentioned earlier, I had never tracked my net worth report before. I had no idea how my retirement accounts were doing. I’m happy to see that they’re at least growing little by little every month (+2%).
House: I am so relieved that the value of my house has not taken any further plunges this month. Phew! Last month, my house lost over $60,000 (CAD) in value! What a nightmare!
Credit Cards: I paid off my credit card debt from last month and now I’m 100% living a credit card-free life! It’s pretty awesome minus the inconvenience of having to beg someone to lend me their credit card if I need to make a major purchase. I’m in quite a pickle at the moment because I don’t have a credit card but need to reserve a place to stay in Spain for the next few days 🙁
Mortgage: 2.85% variable.
I’m sooooooo happy that my house’s value didn’t tank this month. I’ve never tracked my net worth before and I’m relieved to report a 0% month over month change.
April 2018 Personal Income: $(144) USD
|Personal Income||April 2018||MoM Change ($)||MoM Change (%)|
Scholarship: Same amount that I receive every month. Scary to think that there are only 2 more months of this money left! :'(
Part-Time Work: I work 1 day a week, mostly from home. My work contract ends in July. My professor has asked me to renew this contract. I am still undecided about that.
Dance, housing, insurance, phone, transportation: As average as it gets.
Food: Much lower than normal because I went to Spain to study Spanish and any food costs incurred in Spain is lumped in my “Travel” bucket. Not to mention, it’s far cheaper to eat out in Spain than it is to cook at home in Switzerland. Let’s just say I may be putting on a few pounds during my stay.
Other: It was my friend’s birthday and this amount includes her gift plus one night in a hotel.
Shopping: I bought a yoga mat for travelling. It’s a pretty crappy and overpriced yoga mat (bought it in Switzerland, go figure).
Travel: I am currently in Spain studying Spanish. It’s been an awesome experience so far and I enjoy the feeling of actually being able to afford to eat out! These costs include 2 weeks of Spanish classes, accommodations, food, and flights. I’m super happy because the classes are excellent and I’ve progressed a lot during my stay here. I’m now in the B2 (upper intermediate) class – yay!
This is probably one of my worst months ever because of my study trip to Spain. I am rarely ever at a negative savings rate, believe me. The good thing though is that I only overspent my monthly income by 6%. That’s pretty close to breaking even I’d say 😉
April 2018 Rental Income: $332
|Rental Income||April 2018||MoM Change ($)||MoM Change (%)|
|Net Rental Income||332||86||+35%|
I’m glad that my rental income is going up. It’s a great form of passive income even though it doesn’t amount to much at the moment.
May 2018 Plans & Goals
In May I’ll be wrapping up my last few days in Spain and then heading back to Switzerland. I have master thesis to hand in by end of June/early July and I’m super far behind. May 2018 will consist of me mainly hiding in my room frantically trying to finish my thesis and working on my blog on the side.
I couldn’t believe that my house’s value stayed the same this month. I hope that since the summer is coming, my house’s value will start going up again. It’d also be nice if I could get my savings rate back up, like the 27% that I achieved in March 2018.
My long-term goal is to not return to Canada and stay in Switzerland for a few more years. In terms of my future income prospects, I now only have 2 months left of scholarship money, and 3 months left of part-time job money. My professor and I are discussing the possibility of me doing a PhD which would be a 5-year commitment (but paid). I also have an interview lined up for when I get back to Switzerland. Wish me luck!
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