Net Worth Update January 2019

This is our first Net Worth family report I’m sharing this year or ever! Whoop Whoop!
 
As you can probably tell from the name of my site I love calculating our Net Worth. Throughout my self imposed, adulting process towards financial literacy my Net Worth has been my rock.
 
Why is it so important to know your Net Worth? Because, while you might feel like you´ve got an idea, more of less, kind of, you think, of what your money´s up to, until you sit down and go through every account, every debt, everything you owe and own you just don´t know.
 
We all have goals. Often challenging goals. Going somewhere new is harder when you don´t know where you are to begin with.
 

I see too many friends and coworkers freaking out about money. Getting your money mess together is empowering and tracking Net Worth is a fantastic place to start! Knowing there´s no forgotten, funky debt lurking in the depths of the cash cupboard is a good feeling. And if you do find a big mess it´s better to pull off the band aid quickly and face the music. Then you can make a plan to slay the debt.

Wealth buys time and amazing things can be done when you have time in the bank.
 

Without further ado, here’s what we’ve been up to in January 2019:

 

Net Worth January 2019: €353,149

Cash

This is roughly 3 months of expenses. Pretty tight by regular Personal Finance standards but like everything in Money Management it’s about finding what works for you and while i’d like to round this up to €20,000 we’re happy with low cash reserves and prefer our money invested. 
 

Investments

Our Index Funds are a mix of Vanguard and Amundi low cost funds. They’re only up this month because of the extra payments we made.

Our Dividend Stocks on the other hand took a punch in the market dip. But it’s fine. All part of the process. It´s fine. It´s fine.

Very excited to get started with Crowdfunding! We have a meager amount invested but one of our goals this year is to invest more. We’re using the Mintos platform and i’ll be raising this amount to €2,000 as soon as possible.

Real Estate

The big update here is the chunk of change we dropped into Rental Property No2. We’re focused on getting this mortgage paid off as soon as possible. This 2 bed apartment was a wreck when we bought it but we’re at the end of the refurbishment and want it rented out in the next few weeks.

So excited to get tennants in!

A little Before & After of the kitchen which we moved from the back of the apartment to the front

I think it scrubs up pretty good!

Loans

And the most exciting news this month…..I´ve fully paid off my student loan!!!

We are now free of consumer debt!!!!

The initial plan was to pay this off by the end of the year but having decided to close down our Robo Advisor account and go it solo on our investment portfolio the amount of money we were moving was almost excatly the amount left on my Student Loan.

The logical, maths side of my brain knows that with such a low interest rate, it was 1,25% I could have done better keeping the money invested somewhere else. But…It feels crazy good to not have it any more.

I´ve spent a wierd amount of time staring at my new Net Worth Liabilities section. There´s only 3 items there now! 3! Admittedly those 3 items account for almost €300,000 of debt but “la, la, la, la” fingers-in-the-ears don´t care today because I PAID OFF MY STUDENT LOANS!!! The last €14,000 was paid off over the last 2 months. Boom!!

To see how we´ve done since the beginning of last year, check it out here.

Happy Monday peeps.

2 thoughts on “Net Worth Update January 2019”

    1. Thankyou! Yes it feels amazing. And congratulations, you’re on the brink of being free from Student debt too, nice job!

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