Last updated on September 15th, 2021 at 12:20 am
Welcome to my net worth update for May 2021! These numbers represent my wife and I’s net worth as of May 1st. If you haven’t already, check out our previous net worth update.
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Net Worth Increase
Let’s get right into it! I’m happy to report that over the last month our net worth increased by $7,700 to $390,000. That’s an increase of 2.0%! Most of this increase came from saving our employment income, but a sizable amount came from investment growth.
Seeing $1,700 in total appreciation and dividends is amazing for us. I look forward to the day when our investments make up the bulk of our net worth increases each month. For now, our employment income will have to do the heavy lifting — and boy, has it ever. Take a look at how we’ve done over the past 12 months:
Since starting AnotherLoonie, our liquid net worth has exploded. Soon enough we’ll be back to where we were in late 2019 before we bought our home when we had just under $200k in cash. Except this time, the majority of it will be stashed away in our registered accounts, earning a healthy return. I can’t wait!
Investing and Dividends
I’m also happy to report that we completed our goal to invest $30,000 in 2021. Best of all, it took us less than half the year to not only meet but to exceed our goal! That’s thanks to $6,600 in contributions to our TFSAs in the last month, bringing our total contributions to $33,850 for the year!
So, now what? Well, we’re going to keep investing our extra cash, and hope to grow our dividends as high as possible this year. Speaking of dividends, we earned $200 this past month, which is one of our best months to date!
We would have earned even more passive income had our Tangerine savings account promotion not ended. We instead moved our savings over to EQ and purchased a 3-month GIC earning 1.5%. That should give us an extra $37 in passive income once the 3-month term ends.
Expenses in Depth
My wife and I did a much better job keeping our expenses in check compared to our April net worth update. We did have a few large expenses, including helping our family and purchasing a pricey (for us) accent chair. We also spent more on eating out than I’d like, at $196. But since there’s not much else fun to do except getting takeout, I’ll give us a pass.
Our grocery bill came in at a cool $300, which is on the higher end of what we normally spend. The same can be said for our alcohol budget, which we blew past by spending $92. However, despite this extra spending here and there, I’m overall quite happy with our expenses for the month. What do you think?
Thanks for Reading!
Thank you for checking out my net worth update for May 2021. I recently wrote a few articles that you may be interested in. This includes my guide on closing costs in Canada, my choice for the best preferred share ETF in Canada, 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!
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