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I started tracking my net worth report in March 2018 when I launched this blog. I used to be an accountant and the end of every month marked a chaotic time when I had to work extra long hours to try to close all of the company’s books. Now, I look forward to the end of the month so that I can get an idea of how I spent my money for the month and how my assets are doing!
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: How To Calculate Your Net Worth
Past net worth reports
- September 2018: $769,037
- August 2018: $757,748
- July 2018: $752,394
- June 2018: $748,572
- May 2018: $759,228
- April 2018: $765,059
- March 2018: $767,269
Related: The Quick and Easy Way To Start A Budget
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 🙂
Related: My Sixth Month Blogging – August 2018 Income Report – $382.04
September 2018 Net Worth: $769,037 USD
Assets
Savings: I have two savings accounts: one in Canada and one in Switzerland.
The amount of savings in my Swiss account is misleading because a large part of that is a rental deposit which I cannot touch!
This amount appears to have jumped a lot since last month and that’s mainly because I have a huge balance sitting in my PayPal account which I totally forgot about! That and I’m getting paid now for my PhD!
I use TransferWise to transfer money between accounts and the fees are the lowest that I’ve found. What’s more, 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: I’ve decided to start investing in cryptocurrencies because it’s fun. If you’re interested in cryptocurrencies, you can sign up for a free Coinbase account and receive $10 in cryptocurrencies.
Retirement Accounts: I am not planning to touch these accounts for the time being. I’m just going to let them grow until I decide where I want to take my retirement 😀
House: My house has not changed in value since my last report. I am super relieved because in March 2018, my house lost over $60,000 (CAD) in value!
Liabilities
Credit Cards: I was living a credit card-free life for a few months but then I had to get one in order to get a free flight to attend FinCon.
This month, I bought a new laptop and helped a friend pay for some stuff using my credit card. That’s why the balance is so high.
Mortgage: 2.85% variable.
Related: How I Save Thousands of Dollars Per Month By Living Frugally
September 2018 Personal Expenses: $1,327 USD
My expenses are a lot higher this month mainly because I had to buy a new laptop (my old one broke).
Dance: I decided to start doing tap dance classes again in addition to my regular ballet classes. Now I’ve doubled my monthly dance expense. I guess you can call this “lifestyle inflation.”
I stopped tap dance last year because I got bored of the instructor always teaching the same routine. I found a new instructor and he’s super awesome!
Food: I managed to keep my food expense at $100. This amount is deceiving mainly because I spent a week on vacation where my food was covered by someone else. I also attended FinCon for 6 days and all those expenses will be reported separately on my blog income report woohoo.
If you want to learn how to save money on food, read 16 Simple and Effortless Tricks To Save Money On Groceries.
Insurance: No change. I pay the same amount every month for basic health insurance (mandatory in Switzerland)!
Housing: No change.
Other: I had to buy a new laptop because my old one no longer works. My old MacBook Pro lasted me almost 8 years. It was a great machine.
I also went to the Olympic museum one night with my friends.
Phone: Slightly higher than average because I had to upgrade my phone plan.
Shopping: Didn’t do any shopping this month! 2 months straight!
Transportation: This is the price I paid to visit Geneva for a day and to go hiking in the vineyards.
Travel: Although I was away for almost half of the month, I didn’t incur any travel expenses because my first trip to Italy was paid for by my friend (such a generous soul) and my second trip to FinCon will be allocated to the blog income report.
Tuition: If anyone is looking to do a PhD, I would highly recommend doing it in Switzerland. Not only do you get paid a ridiculous sum (I still feel like I’m overpaid for what I’m doing), but the tuition is only $280 a semester. For my master’s I only paid $80 per semester.
Related: How I Saved Over $11,000 Living Abroad As A Student In Switzerland
September 2018 Goals
Goals
- Keep my monthly expenses below $1,500 –> total miss! I spent more than double that!
- Spend less than $175 on food (have to stretch myself here!) –> technically I achieved this but only because I was gone for half the month and didn’t have to buy food!
- Save $5k by November –> I’m definitely on track! I sold my old iPad and got $800 for it. Not too shabby!
Related: Where To Put Your Money: 5 Things Not Worth Saving Money On
October 2018 Goals Recap
Plans
- Finish all my essays for my PhD class
- Blog at least 3x a week
- Finish fundraising for my volunteer project and building the site
- Enjoy my time in Canada. I’m taking 2 weeks off school to see my family! It’s been over a year since I last visited Toronto and I can’t wait to go back and binge on all the good Asian food!
- My birthday’s at the end of the month so I’ll have to do something big!
Goals
- Keep my monthly expenses below $1,500
- Spend less than $175 on food (have to stretch myself here!)
- Save $5k by November
- Start investing
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