Net Worth Update for January 2016

Net Worth Update for January 2016

I’m going to start off by saying that this is the net worth statement post I have been looking forward to since I first started tracking my net worth back in 2007. That said a few other things happened this month that leaves it to be different than I thought it would be.

Changes in Total Net Worth

(As I mentioned in the inaugural net worth update. When it comes to monthly reports I’m going a different route than a lot of others. Instead of going through the nitty-gritty of every detail on my net worth statement. I’m taking a macro view so we don’t get bogged down by the details.)

This month our net worth change was just “Ok”. We grew our net worth by 32% of our take home income, which is lower than we usually like. We are aiming for 50% by the end of this year, at least the savings portion of it. This means we aim to start saving 50% of our take home income.

The biggest thing was that we wiped out our mortgage a month earlier than expected. It’s a huge step forward in our financial freedom plan, and is set to begin our 5 year family money plan. So what happened this past month?

Getting Back into Stocks

With the stock markets in the dumps, btw that’s a technical term 😉 I wanted to get started on my stock investing. I was learning the ropes 8 years ago when the markets were going through the Great Recession and I made a lot of mistakes, and I am determined to learn from them.

Net Worth Update January 2016

Net Worth Update January 2016

Several stocks I have been eyeing for months, some for years, we’re offering juicy dividend yields (the amount the company pays out relative to the stock price). They fit my criteria for long term buy and holds so I was pretty comfortable with the prices.

Now Check Out  Net Worth Update August 2016

It’s funny and kinda sad, the day I paid off my mortgage I went and used my line of credit to buy stocks. Something I would never suggest anyone do. But hear me out!!!! I only used an amount that I knew I would be able to pay back in the next two months. Plus it was in registered accounts so I will get nearly half back from my tax returns.

I don’t like to use debt (especially since I’m trying to get out of the rest this year) but since I was going to be putting this money into stocks over the next few months it made sense to do it when the market was on sale.

By the time the money hit my account I bought what I was looking at and so far the market has had a little bit of an uptick (going up). So I was playing it safe. Plus the overall yield from the amount I invested was just above 6% , which is pretty much unheard of, so I’m pretty comfortable with my choice.

Then there was the reward

Ok fine, I treated myself…. When we agreed to put our full force in to destroying this beast of a mortgage we agreed that we would wait on certain things. Then the very next day our tv went on the fritz.

So for 2 years I have been staring at my TV with a line down the middle telling myself. “Only 22 more months”… Since this is the best time of year to buy a TV, I did some shopping and found the best deal. Normally I like to get the newest one, but I held back and got a more modest TV. As I sit here watching it while I write this I can say it’s worth the wait…

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One other purchase… This past Christmas  we decided to upgrade our phones, we have had them for 3 years and we felt it was due. But we didn’t see the point in upgrading before Christmas when everything was full price. We decided to wait until we really needed them and there was a sale of some kind.

Again I showed restraint. I was craving the brand new iPhone 6S (I’m a bit of tech geek) but a deal came on for the old iPhone 6 and I got those instead. Saving $400 bucks on each because there was a 2 day sale. It’s still money going out, but it was needed.

In my defence: to give you an example of how my phone was behaving. The day before I upgraded it restarted on it’s own 12 TIMES!!!! Totally unprompted and for no reason. Not a big deal, but when you rely on your phone and it’s behaving like brat it can be frustrating.

Positive little change that will add up

A little change that will add up to a lot… We added our parents cell phones to our plan. This will give us a rebate of an extra $40 month. Saving $480 a year going forward. So it’s a good savings for years to come.

Passive Income for the month of January

Our passive income for January was from our dividends and some interest in our accounts.

Income from Dividends $40.04

Interest: $3.21

Total Income      $43.25

Passive Income and Expenses From Websites

Since this blog is also a business I need to be keeping track of all of my income and expenses come in. I have a threshold that once I hit I will start posting how much I am making from my online efforts.

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A Few Other Notes

If you want to get started on your own net worth statement and take your first steps towards financial well being you can sign up for our mailing list here.


If you would rather track your net worth with software Personal Capital or are good choices. Both are free. If you are wanting to track your net worth either one are a good place to start.

If you are needing a primer on net worth sign up for our mailing list and get the spreadsheet I use to track my  Net Worth Statement.

Have you calculated your net worth for January? I’d love to hear how your month went, post a comment below.

2 thoughts on “Net Worth Update for January 2016

  • We are paying off our house before trying to put more money than usual into the market. The feeling & freedom of being debt-free is more rewarding to us than having a larger mortgage and a higher stock portfolio.

    Good call waiting on the new smartphone. My wife & I are also in the same boat with hers. Hers only reboots a couple times per week, so we are waiting for it to get a little worse before we upgrade.

    • Hey Josh! Yeah the smartphone thing was driving me crazy, when I couldn’t turn it on anymore it kind of forced my hand. At least there was a decent deal on at the time. I am in the same boat with paying down the mortgage. Now that it’s gone I can focus better on investing. Having the mortgage paid off in the end is worth it!

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