Last updated on April 9th, 2023 at 07:46 am
Welcome to my net worth update for February 2023! These numbers represent my wife and I’s net worth as of February 28th. Please check out our previous net worth update if you haven’t already!
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Savings & Expenses
February tends to be a low-spending month in our household. That’s often because it’s too cold and wet to want to do anything. And while we did ski in January, we decided not to organize another trip in February.
We did end up contributing more towards our travel plans—around $900 on tickets and other activities. That brings our total spend on travel to $5,500 already in 2023. This aligns with my New Year’s resolution to spend more on “living in the now” in 2023.
Most of our other expenses were controlled or even lower than average. In total, we managed to save a pinch over $5,600. That puts us at a 52% savings rate for February, which is above our average savings rate of 40% in both 2022 and 2021.
So far our savings rate is 30% in 2023, which I think is pretty good considering we already spent around half of our travel budget. And our savings rate will likely improve in March since it’s a three paycheque month for both of us—hooray!
Investments & Dividends
As you can see, February is typically a month of low dividends. The only ETFs that paid out are my wife’s XDG (iShares Core MSCI Global Quality Dividend Index ETF) and XDIV (iShares Core MSCI Canadian Quality Div Index ETF) shares which she holds in her TFSA.
These two ETFs pay monthly dividends, and XDIV specifically is among my favourite dividend ETFs in Canada.
However, earning $119 can still help us estimate our year-over-year dividend growth and help us project what we may earn in 2023. For example, last February we earned $80. That means our dividends grew by 49% in February compared to last year.
We’ll have to see what March’s dividends end up looking like. Last year we earned $335 in March, so a 49% increase would mean we could earn an extra $164—not bad at all.
Net Worth Change
The market was pretty flat last month, but we were able to rely on saving our employment income to increase our net worth. In total, our net worth increased to $752,600 from $745,800 in the previous month. That’s an increase of $6,700 or just under 1%.
Here’s where the increase came from:
- $1,300 in home equity pay-down
- $1,200 in mandatory pension contributions
- $5,600 in savings of income
- $1,400 in investment losses
So far our net worth is up $31,700 in 2023. It’s hard to say if our investments will grow on their own this year or if we’ll have to rely entirely on our employment income to improve our net worth. Either way, if we manage to keep saving, I think we’ll end the year with a good result.
Thanks for Reading
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