Ooof, it’s been almost 2 months since my last update. Life sure got crazy! Some of you know that we’ve always had plans to get married in September. So not only wedding planning got intense starting around July, we also found out that one of our preferred breeders in Ontario had a puppy available! We hesitated for 5 minutes and thought “f**k it, we’ve wanted a dog for so long, let’s do it.” And let me tell you, the first few weeks of having a puppy is NO JOKE. But at the end of the day, he’s the sweetest boy I could ever ask for, and I would make the same choice over and over again. As I’m writing this, the good boy is sitting near my feet and “watching” TV in the background 🙂
Net Worth Update
I’m very behind in tracking expenses for the last two months, but I kept up with tracking our net worth. Well, it’s probably the easiest task in the world of FIRE tracking. Once you have a spreadsheet set up (or a software such as Wealthica), it only takes a few minutes to know where you stand in your Net Worth. I use both – my excel gives me a detailed view, but Wealthica provides a great snap shot when I just wanted to know the numbers at a high-level.
I started tracking both of our finances since August 2020, we’ve always reached “new high” every month. I hope this trend continues.
We closed off June 2021 with a total family net worth of $457,496.65. At the time of writing this blog (on Sep 24), our combined net worth is sitting at $479,023. This includes all of our liquid assets, investments, primary property value and minus any debt. This is an increase of +$21,527 or +4.7% over the last ~3 months. Since we haven’t done much active saving or investing during this period, the only thing that’s been going on with the investments are the automatic contribution (and matching) with our employers and market growth, so I’m very pleased with the numbers.
Now that things are finally back to normal for us, I’m very much looking forward to saving & investing again.
On Sep 18, 2021, my personal net worth reached a new milestone of $250,000! I’m officially a Quarter Millionaire!
I started the year of 2021 with only $174,922. That’s an increase of $75,078. It’s shocking, really. I made a few money moves in the beginning of the year – which included moving some “idle” money from a Savings account that I no longer needed to the stock market, and really prioritized maximizing my TFSA and RRSP. By the end of June, I had maximized both of these tax-advantaged accounts and started contributing to my taxable account (which is my first time ever!)
One of our biggest money moves in the last couple of months is the cost of our Honeymoon Airbnb! Back in November 2020, I noticed a promotion with the HSBC World Elite Mastercard. It was a “meet minimum spend and get up to 80,000 points” promotion, on top of the “full annual fee rebate for the first-year” promotion. (Their current promotion is slightly different, but not too far off.)
The biggest benefits of the HSBC World Elite Mastercard is that you could apply your points on travel purchases and get a statement credit, as long as the transaction is within 60 days of the time of points redemption. It took a little bit of planning with our spending, but we accumulated enough points to reduce our 5-night stay in Mont Tremblant, QC from $1,284.42 to $584.42! That’s a whole $700 off! I’ll call that a money win any day.
And that’s a wrap!
I’d love to know how the last few months have been for you. Do you have any braggable (yes I think I just made up a new word) money wins? I’m looking forward to putting more content on the website, stay tuned!