Welcome to my net worth update for April 2021! These numbers represent my wife and I’s net worth as of April 1st. If you haven’t already, check out my previous net worth update.
Expenses in Depth
This net worth update is something of an anomaly. And that’s for a few reasons. The first reason is that our spending was way higher than normal in a few categories: home maintenance, home items, and helping family.
With spring upon us, we decided to pull the trigger on a new patio set that we’ve had our eye on. Up until now, we had been using a folding table and chairs when hosting guests or just relaxing in the backyard. So we finally ponied up $1,700 to buy a decent, 5-piece conversation set.
Spring also means one other thing: lawn and yard maintenance. And this year I decided to get serious about my lawn. I paid to get the lawn detached, aerated, and to have a couple yards of topsoil delivered. After many afternoons of exhausting manual labour (and I’m still not done), my wallet became $800 lighter.
Our other big, abnormal expense is categorized under “Helping Family.” Generally, we try to help out our family a few times a year. Usually, we’d look to take them on a vacation or to plan an elaborate birthday party or two. But with COVID, paying a few grocery bills seems to show appreciation just as well.
Net Worth Increase
Despite having a lot of extra expenses last month, our net worth increased by an incredible $16,900 to $382,300 – an increase of 4.6%! This is our largest monthly net worth increase to date.
So, what happened?
Well, my wife and I both received 3 paycheques which boosted our income by 50%. And on top of this extra income, I received a $4,300 tax refund from all of my RRSP contributions last year. I’m kicking myself for giving the CRA a “loan” over the past many months, but it was still a nice treat when that direct deposit hit my bank account.
Investments and Dividends
Thanks to our extra income, we were able to contribute $10,600 to our investment accounts. This brought us so much closer to our goal to invest $30,000 in 2021. It seems clear that we’ll not only hit this goal early but exceed it as we reach the mid-point of 2021.
We used these contributions to help balance out our portfolio. My objective has been to get our U.S. allocation up to 44%, and so I invested $7,000 more into the VUN position I recently opened in my TFSA. My wife used the remaining money to stock up on XDG and XAW. We’re about in balance now, so I plan to start investing in VIU, VCN, and VEE again soon.
As you can see, our passive income did quite well, earning us $151. This is enough to cover the cost of both of our mobile phone plans, our internet bill, and filling up our car’s gas tank. Hopefully, we’ll see this number continue to increase in the months ahead.
Since we’re not 100% focused on dividend stocks, our dividend growth has been somewhat slow. In fact, it’s closer to what you’d expect with a regular diversified portfolio or an all-in-one ETF. We’re happy with our current investments, however, as we like exposure to growth sectors of the economy while also earning some dividends along the way.
Thanks for Reading!
Thank you for checking out my net worth update for April 2021. I recently wrote a few articles that you may be interested in. This includes my article on the WallStreetBets phenomenon and my article explaining how to get cash back from your realtor. Consider giving those a read if you think they’ll help you on your financial journey!
As always, please consider following me on social media or signing up for my monthly newsletter if you’d like to get notified when I post new content.