Net Worth Update February 2019

19th February 2019
This month we increased our Net Worth by €11,200!! This is a pretty big deal for us and much needed after last month´s loss.
 
I used to read other people Net Worth reports and wonder how the hell do they manage to save a five figure amount in one month? They´re saving more than me and husband make in a month!! I don’t get it. 
 
Thanks to what i´ve learned through the Financial Independence community now I do get it! We don´t bring in a five figure a month salary but we can increase our Net Worth by more than we earn because of the shiny, magic of Compound Interest.
 

Some of the goals we set ourselves this year are:

01. Grow our Net Worth by €65,700. That´s €8,000 more than we did in 2018 and would take our Net Worth to €420,000. We´re a tiny bit behind but determined to get there.

02. Get Rental No2 rented out!

03. Get our savings rate total for the year over 50%. It´s currently at 49%.

04. Not get freaked out by stock market volatility and keep investing €1,000 a month.

05. Pay off 33% of mortgage on Rental No2.

06. Start a blog! Done!!

If you´re interested have a look further back into our financial history or learn how to calculate your own Net Worth.

Here’s what we’ve been up to in February 2019:

 

Net Worth February 2019: €364,349

I´m so excited to see our first ever Net Worth statement with only three items under “liabilities” now my Student Loan is fully paid off!
 

Cash

Cash is down a bit as we pumped a bit extra into the mortgage on Rental No2. We´re focused on clearing this mortgage asap and we still have comfortable cash reserves.
 

Investments

We invested €1,000 this month as we usually do into Index Funds. They are all Vanguard and Amundi Funds and together with our Dividend portfolio saw an increase of €8,000 on last month. 

In January our Dividend portfolio alone was down almost €10,000! Ouch! So it´s a welcome and unexpected surprise to see a recovery. Thankfully the months with gains outweigh the months with losses.

I know this will come crashing back down again at some point but while it´s on the up i´m going to enjoy the fact that becoming financially literate has made this possible.

Just a few years ago I didn´t know how to invest and would have considered saving half my income incredible enough. Seeing our money grow all on it´s own without our help still seems like magic to me!

Real Estate

Last month we paid almost €4,000 extra into Rental No2 mortgage and while we didn´t manage as much this month we did pay an extra €3,000. 

While I´m happier investing my husband is more comfortable reducing debt so we work on both at the same time and it does feel pretty awesome to see that mortgage amount dropping so rapidly.

As I type this our agent is showing the property to prospective tenants so hopefully it will be rented asap.

As always we leave the values of all three properties the same. Our home and Rental No1 we last valued in the middle of 2018 and Rental No2 at the end of the year. We have no plans to sell any of the properties in the immediate future so we prefer to leave the valuations as is. If they are increasing in value that´s great but I feel safer not counting on that.

Whatever goals you´re working towards this year i´m rooting for you! Have a great month!

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