Net Worth Update: November 2020

Last updated on February 2nd, 2021 at 12:46 am

Hello everyone! Thanks for checking out my net worth update for November 2020! These numbers represent my wife and I’s net worth as of November 1st, 2020. I do my best to round to the nearest $100 to keep everything easy on the eyes.

Net Worth on the Rise

Our net worth rose by $7,400 this month. We were helped by October being a sacred 3-paycheque-month for me, which boosted our savings by a decent amount. Our investments have recently been doing quite well, but as of November 1st their performance was mediocre. They dragged down our net worth by $1,300 for the month.

Sources of Net Worth Increase November 2020
Our investments dragged down our net worth again..

Despite our poor stock performance, this $7,400 increase has extended our streak of great net worth updates. Over the past 3 months, due to bonuses, or overtime payouts, or 3 pay-cheque-months, our net worth has increased by $29,000!

Net Worth Increase November 2020
We’ve been on a streak of great net worth updates!

Like I said in my previous net worth update, in an average month we should be able to put away just about $3,000 in savings of our income, not including our pension or the equity portion of our mortgage. So yea, these past 3 months have been quite exceptional!

Too Much Savings!

This month I got serious about reducing the amount of money we held in our savings accounts. We try to keep approximately 6 months of mortgage payments as our “emergency fund”, but over the past few months this has swelled to a high of $33,000. It’s great to have all that money available, but not when it’s sitting in a savings account earning only 2%! (Okay, well if Tangerine is listening: I’m actually very happy to be getting 2% in my savings account right now!)

To try to get “more invested” my wife and I both made some transfers to our TFSAs to buy more ETFs. We managed to get our saving account balances down to $25,900 but we still have some work ahead of us. I’d like to get our savings down to approximately $20,000 by the end of the month, but this has been a little slow going as my wife has been hesitant to invest too much right now. Like many of us, she likes to wait for a down day before buying in, but unfortunately (or fortunately!) there have been few days where everything was “on-sale”. Both Pfizer and Moderna have come out with some great vaccine candidates recently, and so the market has been booming with optimism.

Passive Income

Every month, Bert and Lanny over at their blog the Dividend Diplomats do a really cool post sharing all of the dividend income their fellow bloggers earned for the month. So for this net worth update, I decided to do a better job sharing our passive income since starting this blog. Here’s how the numbers look since my July net worth update – the first month I reported passive income.

Although our investment accounts have grown by nearly $30,000 since July, our dividend income hasn’t really increased that much. There are some signs that this is about to change, however. In October we purchased just about $13,000 worth of equity ETFs. So hopefully that money will help boost our dividend income over the next few months. We’ll keep working hard to build our passive income – especially now that we have a bunch of other bloggers to compete against!

Thanks for Reading!

Thank you so much for reading my net worth update for November 2020! If you enjoyed this detailed look at my finances, please leave a comment, follow AnotherLoonie on social media, or sign up for my monthly newsletter!

If you’re interested in reading more, please check out some of my other recent articles. Some popular choices include my primer on withholding taxes for Canadians and my review of the best Canadian dividend ETFs!


  1. Great job, you and your wife are savings machines.
    I am trying to cut my cash position too but I like having cash on the side lines, it is all psychological.
    Waiting for the down days as well, sigh.

    1. Thanks for stopping by GYM! I definitely sleep a little easier knowing I have a buffer of cash in case anything goes awry. I try to think of my investments as a savings account and not be too worried about the price I’m getting. That way I can buy monthly and not sweat about the ups and downs!

  2. Crazy savings, I can’t remember if you published your savings rate before? Seems like you are keeping the expenses low! Also interesting to see the dividend income, make that graph go up too.

    1. Thanks FMS :). I published our savings rate in our “saving for a downpayment article”. In that article I shared we were saving on 65% of our income (on average) before buying our home. Now we save a little less, as our housing expenses went from around $800 to now around $3,000 per month (interest, principle, insurance, tax, etc). Still managing to put away a decent amount each month, however! Especially when you account for home equity – about half of our mortgage payments go towards paying off our principle.

  3. Too much savings is a good problem to have lol! Amazing stuff on the net worth increase and solid passive income for Nov too. Congrats.

    1. Thanks Tawcan! I’m really excited to see how our passive income grows over the next few months. We’re doing our best to load up our TFSAs before the end of the year.

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