Net Worth Update – August 2017

Assets:

1Cash in Bank Account$7,955.25
2Investment Accounts$22,890.62
3Pension$16,179.23
4Lending Loop$1,029.87

Liabilities:

1
Student Loans$25,744.44
2Credit Cards$576.56

Net Worth:

Net Asset Worth$21,733.97

Summary:

  • USD-CAD exchange rate assumption: $1.19 CAD per USD.
  • There was a strong appreciation of my portfolio compared to the previous month. A part of it had to do with the fact that I contributed more to my investments account. However, even then the portfolio value increased significantly compared to the month of July. Overall, the investment account increased in value by 5.9% (including the contributions). The beginning value of the investment account (i.e. ending value of July 2017), was $21,618.00.
  • The pension account increased in value by 2.5% compared to the prior month. The beginning value of the pension account was $15,785.00.
  • The value of Lending Loop account increased by 0.8% from prior month. No additional contributions were made. I wrote a detailed post on my tryst with peer lending in Canada, which can be read here.
  • The student loans decreased by -1.82% from the previous month’s ending balance of $26,223.
  • The credit card balance outstanding increased significantly. I intend to pay it up but am just using the 21 days window to better make use of the available time. I made some purchases that were one-time expenses.
  • Overall, my net worth increased by 6.70%, from $20,368.86 to $21,733.97.
    • There were some one time expenses, like cost of some self-study materials, an exam that I intend to write to better my career prospects. This is one such often overlooked aspect in the personal finance community that I find should be discussed more – investing in yourself.
    • I bought Medical Facilities Corp and Shopify. A detailed reading on these can be found on this page here.
      • Note: I am yet to write an article on what made me buy Shopify. I shall do that soon.
    • In the end, I am really over-joyed to have increased my net worth. At first I thought it would not change much considering there were some one time expenses on the horizon (self study materials, etc), and other such one time expenses that I haven’t incurred yet. What was interesting, was that the market did not move much and yet my portfolio was doing better. This reinforces my confidence in my portfolio.

How did your finances shape up for the month of August? Write your comments and share your opinions below.

Latest Comments

  1. GYM September 7, 2017
    • Personal Alpha Investments September 7, 2017
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