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Net Worth Update:
June, 2019

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Sadie QS Creative Author Founder live your best life through intentionality

By Sadie

Each month I evaluate our net worth. I don’t use the most conventional method for determining net worth. Usually you take all of your assets, including the saleable value of your items, and minus the liabilities. I don’t exactly do that.I start by calculating my assets (cash, savings, investments) and I do not include the value of items such as my car. I don’t include them because I view my vehicle as a tool, it will only depreciate, and I don’t intend to sell it. If I have equity in a residence, I would include that however. Then I calculate my liabilities (debt including loans and credit card balance) and minus this amount from my assets. This gives me mine and my husband’s net worth: all of our assets and all of our debt.
I track it monthly to keep motivated and to see whether I’m improving. I use an app called “Wealth+” to input my numbers. It’s a simple tool I enter data into. It’s not tied to my accounts or anything. At the time of writing this post, the Personal Capital app is not yet available in Canada.
This is our net worth for June, 2019:

Assets (+$25,408)

Bank Accounts: $13,811

Investments: $11,597

Liabilities (-$49,322)

Credit Cards: $3,952

Loans: $45,370

Sadie’s Student Loan, Kevin’s Student Loan and Car Loan.

Notes: Car Loan calculated, but not car value.

TOTAL: -$23,914

This is a change of -$342 and a decrease of 1.5% net worth over last month. This is the first month we spend more money than we made. it is also the month we paid for most of our wedding fees. We married in July and had been slowly making required payments and purchases over the previous ten months or so. However, many of the final payments were due one month before our wedding.  A minor bump, but a huge relief to be able to cash-flow most of our wedding costs while still saving and paying down debt. I look forward to checking in again next month – see you there!

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