{"id":11209,"date":"2013-09-04T14:32:30","date_gmt":"2013-09-04T18:32:30","guid":{"rendered":"http:\/\/canadianbudgetbinder.com\/?p=11209"},"modified":"2025-02-18T05:39:27","modified_gmt":"2025-02-18T05:39:27","slug":"august-2013-net-worth-update-1-90-the-calm-before-the-storm","status":"publish","type":"post","link":"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/2013\/09\/04\/august-2013-net-worth-update-1-90-the-calm-before-the-storm\/","title":{"rendered":"August 2013 net worth update: (+1.90%) The calm before the storm"},"content":{"rendered":"

Take Charge Of Your Money<\/span><\/h2>\n

I say this month is the calm before the storm because even though we are up 1.90% that we spent quite a bit of money in August and September will reflect those expenses. In August we went a bit overboard on the shopping like I mentioned on Saturday so my wife could have a bit of a shopping spree, and that she did. We also picked up a brand new laptop that set us back well over $1000.<\/strong> I will be talking more about that disaster in the upcoming week.<\/p>\n

I’m currently on the hunt to replace our PC as it is far too old and slowing down the rest of our system. That means I’ll be spending at least another $1000<\/strong> to get a new system for our office which is fine. I think there is a point where you have to say something has provided all it can to you and you either get rid of it or buy yourself something new. I’ve learned over the years to make sure that I spend money on quality items but have also experienced that an item that costs lots of money isn’t always the best choice. I’ll be doing lots of research into what new personal computer to buy and really it’s a great time with the students going back to school.<\/p>\n

I think for any of you that track your net worth you know that it’s an exciting time to see that your net worth has gone up if even a little bit. Having said that I realize that even if we have a month where the increase isn’t as high because we had expenses that were beyond our control that we at least had the money saved in our projected and emergency savings. Now that the mortgage will be paid in full we still are left with a healthy emergency savings. I think we may stick around $5000 i<\/strong>n emergency savings<\/a> <\/strong>and the rest will go to renovations and anything else coming in will be split between our investments and the renovation savings account which I will create for us.<\/p>\n

There is so much that will change for our budget once we kill the mortgage <\/a><\/strong>but until then we still have to savvy shoppers but know that even though we might bend the rules we aren’t spending more than we earn. That is always the most important part of personal finance for us. There’s no point going into debt to spend money on items you haven’t saved up for unless the return on investment is worth it to you. I guess only you can answer that question as it will be you that will have to pay for the expenses at the end of the day when the bills come in.<\/p>\n

Understanding net worth<\/span><\/h3>\n

What Does\u00a0Individual Net Worth\u00a0Mean?<\/p>\n

Net Worth is a snap shot of your financial health sort of like a picture or debt to net assets. In simple terms it\u2019s a\u00a0total of the value of your assets minus your liabilities<\/strong>.<\/p>\n

Determining net worth<\/span><\/h3>\n

How To Determine Net Worth?<\/a><\/strong><\/p>\n

Net Worth = Assets \u2013 Liabilities\u00a0<\/strong>
\n<\/a><\/p>\n

Figuring out net worth is fairly easy as long as you know your personal numbers or monthly finances. Net Worth is simply\u00a0adding up all your assets<\/strong>\u00a0(what you own) then\u00a0taking away your liabilities<\/strong>\u00a0(what you owe) which will give you a net worth number. Understanding your net worth will help you determine if you are on track to meeting or beating your personal financial goals. It\u00a0doesn\u2019t\u00a0get any easier than that.<\/p>\n

Do you know how to calculate your own Net Worth?<\/strong><\/p>\n

Now you can stop asking yourself, how do you find out your net worth because it\u2019s easy to determine. Why not go ahead and\u00a0calculate your own using our Free Money saving Tool\u00a0Net worth Calculator (Canadian Budget Binder 2012)<\/a><\/strong><\/p>\n

Our short-term goals 2013<\/span><\/h3>\n