Net Worth Update: September 2021

Last updated on September 15th, 2021 at 12:17 am

Welcome to my net worth update for September 2021! These numbers represent my wife and I’s net worth as of September 1st. If you haven’t already, check out our previous net worth update.

As always, consider subscribing to my newsletter if you’d like to receive my easy-to-use Expense and Net Worth Tracker spreadsheet. I use it every month!

Two New Cards

This month my wife and I finally became owners of a Costco membership. Our goal with this membership is to save on groceries and home essentials. We signed up for the regular $60 membership, which came with a voucher for $20 off our next trip.

We also signed up for an Amex Cobalt credit card which, ironically, isn’t accepted at Costco. Our strategy for this card is to consistently hit $500 in monthly spending to earn an extra 2500 Membership Rewards (MR) per month. I’ll also use it for as much food spending as I can to earn 5 MR per dollar spent.

Rebate sites, like Great Canadian Rebates, are a savvy way to earn cash back.

What motivated me to sign up for the Amex Cobalt was its recent change that allows you to transfer MR to Aeroplan. That was appealing to me since I’ve been collecting Aeroplan points for a while now. With the Cobalt, I can earn an effective 21% cash back (in points) on up to $500 in food spending.

Best of all, I used Great Canadian Rebates (referral link) to sign up for the card. This earned me a cool $120 in cash back which covers an entire year of my Amex Cobalt’s monthly fees.

Notable Spending

A few expenses were missing this month – my wife’s cellular bill and our home internet bill. I think it’s because we switched our pre-authorized payment to our new credit card. I expect to see those payments show up on our next month’s bills.

$127 on gas shows we’re driving a lot more lately.

Our largest abnormal expense was $1,836 we paid towards a new sectional. After a lot of searching and haggling, we finally decided to place an order. This purchase required a 50% deposit with the balance paid on delivery. We also used our new Costco membership and spent $200 on our first trip.

My increased income partially offset the higher-than-average expenses for the month. Around this time of the year, I stop paying into CPP and EI which adds about $200 to each of my paycheques. That contributed to us saving $3,100 of our income for the month.

Investment growth gave us a sizable net worth increase this month.

Investments and Net Worth

Our net worth rose from $410,500 to $420,400 thanks to some impressive investment growth. That’s an increase of $9,900, which is one of our largest increases for the year. Helping us along was our $75 in dividend income and $38 we earned from our 3-month GIC with EQ Bank.

I made a correction to our August dividend income. Some of that income should have been reported for July.

The steady investment growth we’ve been experiencing has helped juice our net worth well past $400k and up from $292k when I started AnotherLoonie.

Our liquid net worth has also been rising significantly over the past year.

We hope to keep piling cash into our TFSAs this year, with the ultimate goal of maxing them out in the near future. Right now our TFSAs are at $56,900 and $65,000. At the rate we’re saving, we may be able to max these accounts in as little as ten months. I can’t wait!

Thanks for Reading!

Thank you for checking out my net worth update for September 2021. I recently wrote a few articles that you may be interested in. This includes my list of the best dividend ETFs 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!

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.