{"id":44951,"date":"2020-10-27T07:50:50","date_gmt":"2020-10-27T11:50:50","guid":{"rendered":"https:\/\/canadianbudgetbinder.com\/?p=44951"},"modified":"2024-12-26T07:15:51","modified_gmt":"2024-12-26T07:15:51","slug":"how-we-live-the-simple-life-in-our-40s-sept-2020-net-worth-update-1-27","status":"publish","type":"post","link":"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/2020\/10\/27\/how-we-live-the-simple-life-in-our-40s-sept-2020-net-worth-update-1-27\/","title":{"rendered":"How We Live The Simple Life In Our 40&#8217;s: Sept 2020 Net Worth Update (+1.27%)"},"content":{"rendered":"\n<p>Living the <strong>simple life<\/strong> doesn&#8217;t necessarily mean moving to a farm, churning butter, and making homemade pies for dessert.<\/p>\n\n\n\n<p>Although that appeals to me since I&#8217;m a huge fan of living the farm life, it&#8217;s not for everyone, yet the simple life goes beyond that.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Needs Often Change As We Age Based On Lifestyle<\/h2>\n\n\n\n<p>Since hitting our 40&#8217;s living the simple life appeals to us because we care less about stuff and more about life.<\/p>\n\n\n\n<p>Living in a city or even a tiny village in Canada brings many challenges, and one of them is <strong>keeping up with trends<\/strong>.<\/p>\n\n\n\n<p>Whether it be fashion trends, housing trends, technology trends, or anything new that we think we need appeals to us.<\/p>\n\n\n\n<p>No matter where we go, we are surrounded by <strong>buy now, sale, best price, lowest offer, and must-buy<\/strong>, which puts stress on consumers.<\/p>\n\n\n\n<p>What happens is that we believe that if we don&#8217;t buy it now, we are going to miss out on savings, or the product might be gone forever.<\/p>\n\n\n\n<p><strong>Isn&#8217;t that crazy how we can get sucked in so easily?<\/strong><\/p>\n\n\n\n<p>I wrote a post earlier this year about <a href=\"https:\/\/canadianbudgetbinder.com\/2018\/08\/23\/live-simple-life-avoid-debt\/\"><strong>living a simple life to avoid consumer debt,<\/strong> <\/a>which is precisely what happens.<\/p>\n\n\n\n<p>We fall for buy now pay later, <a href=\"https:\/\/canadianbudgetbinder.com\/2013\/08\/08\/a-payday-loan-cost-me-double-time\/\"><strong>payday loans<\/strong><\/a>, and any other gimmicks to help us get what we want.<\/p>\n\n\n\n<p>You say you don&#8217;t, but the reality is that we all do. However, it&#8217;s how we execute and challenge these thoughts.<\/p>\n\n\n\n<p>You might prefer to live a simple life because you refuse to give in to something that you hadn&#8217;t planned on getting in the first place.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Simple Life Based On Wealth<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"994\" height=\"703\" src=\"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/exploring-road-trips-living-a-simple-life-.webp\" alt=\"road trips\" class=\"wp-image-142961\" srcset=\"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/exploring-road-trips-living-a-simple-life-.webp 994w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/exploring-road-trips-living-a-simple-life--300x212.webp 300w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/exploring-road-trips-living-a-simple-life--768x543.webp 768w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/exploring-road-trips-living-a-simple-life--594x420.webp 594w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/exploring-road-trips-living-a-simple-life--150x106.webp 150w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/exploring-road-trips-living-a-simple-life--696x492.webp 696w\" sizes=\"auto, (max-width: 994px) 100vw, 994px\" \/><\/figure>\n<\/div>\n\n\n<p>Sure, if you have money to splash and want a massive home with furniture that matches and is special delivery from Italy, go for it.<\/p>\n\n\n\n<p>That might be <strong>your simple life<\/strong> based on others in your net worth circle. Yes, that&#8217;s what I said.<\/p>\n\n\n\n<p><strong> People live the simple life based on how much money they have.<\/strong><\/p>\n\n\n\n<p>That&#8217;s why we often see bigger homes, more cars, second homes, boats, holidays, discreet shopping trips, and so forth.<\/p>\n\n\n\n<p>Everything we do revolves around living a simple e life, or a prosperous life smothered in debt, looking rich or being rich.<\/p>\n\n\n\n<p>I&#8217;ve seen plenty of shows where rich kids are removed from their environment and put into a family that lives a simple life.<\/p>\n\n\n\n<p>Now, this family might be struggling financially and living pay to pay, or they have savings and are just enjoying what they can afford.<\/p>\n\n\n\n<p>Either way, all of us have different views on what living a simple life might be.<\/p>\n\n\n\n<p>The rich girl might think she&#8217;s living a simple life compared to her friends.<\/p>\n\n\n\n<p>Families might believe they live a simple life compared to their co-workers, friends, and other family members.<\/p>\n\n\n\n<p>Even Neighbours watch each other and compare and often say they must be going into debt for that reno, or they must be loaded.<\/p>\n\n\n\n<p>It&#8217;s crazy how we think. Perhaps we&#8217;re all just a bit too jealous. Maybe so, but at the end of the day, none of what anyone else does matter.<\/p>\n\n\n\n<p>YOU MATTER.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Challenging Consumerism To Live The Simple Life <\/h2>\n\n\n\n<p>When you wake up in the morning, and your mind starts racing with all of the things you need to get done, that can be overwhelming.<\/p>\n\n\n\n<p>We live in a consumer-driven world, which means that what we see we want or at least desire in one form or another.<\/p>\n\n\n\n<p>Not everyone falls prey to consumerism, but the ideas enter our minds due to media persuasion.<\/p>\n\n\n\n<p>Also, consider friends and family who may pressure the family to be or look better to the world to uphold their image.<\/p>\n\n\n\n<p>There are so many things right with living a simple life that appeals to the people who don&#8217;t care what anyone else thinks.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Simple Life 101 &#8211; Our Perspective<\/h2>\n\n\n\n<p><strong>What does the simple life mean?<\/strong><\/p>\n\n\n\n<p>Living a simple life means not worrying so much about what&#8217;s happening outside of my little bubble of energy.<\/p>\n\n\n\n<p>I enjoy lots of quiet time, road trips, and walks to explore nature while living a minimalistic life.<\/p>\n\n\n\n<p>Often I try to reuse what I already have instead of buying new even if it doesn&#8217;t look the best.<\/p>\n\n\n\n<p>Eating out hardly happens, and I prefer to cook homemade meals and create new recipes.<\/p>\n\n\n\n<p>Making time for myself no matter how busy my life can be with work becomes increasingly important.<\/p>\n\n\n\n<p>My family is first and always first because they&#8217;re the people I&#8217;m walking this path with.<\/p>\n\n\n\n<p>I don&#8217;t desire brand new, or trends and nothing in the house matches and often <a href=\"https:\/\/canadianbudgetbinder.com\/2020\/08\/27\/16-ways-to-make-money-with-your-home-in-canada\/\"><strong>sell what we no longer use in our home<\/strong><\/a><strong>.<\/strong><\/p>\n\n\n\n<p>If I can save money using a rain barrel or composting, I&#8217;ll do it without hesitation.<\/p>\n\n\n\n<p>I&#8217;m frugal and living the simple life enjoying what most people pass by because they are in such a hurry.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Appreciate What You Have<\/h2>\n\n\n\n<p>In all honesty, it&#8217;s a blessing knowing that we&#8217;ve gone from living a stressful life to an easier way of living.<\/p>\n\n\n\n<p>Before, our thoughts revolved around earnings, toys, and a fancy house matching furniture and appliances.<\/p>\n\n\n\n<p>It&#8217;s amazing how easy we realize the simplicity of life we once thought was a boring life.<\/p>\n\n\n\n<p>Treating people with kindness and being happy is more important than debt and acquiring more stuff.<\/p>\n\n\n\n<p>That&#8217;s my interpretation of living the simple life.<\/p>\n\n\n\n<p>Yours might be different.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Simple Life Is Not For Everyone<\/h2>\n\n\n\n<p><strong>Is it better to live a simple life?<\/strong><\/p>\n\n\n\n<p>This is a good question because not everyone can truthfully answer it until they&#8217;ve lived a little.<\/p>\n\n\n\n<p>It&#8217;s like saying you don&#8217;t like a particular food without tasting it first.<\/p>\n\n\n\n<p>Often we learn from our mistakes, and in the case of the simple life, it may also be your first step.<\/p>\n\n\n\n<p>Ideally, you don&#8217;t want to miss out on what the world has to offer or, even worse, become depressed because you haven&#8217;t explored your options.<\/p>\n\n\n\n<p>If you want to move to a big city, live downtown, fill your apartment with the newest trends, and buy from little boutiques, go for it.<\/p>\n\n\n\n<p>Don&#8217;t put yourself into debt for it, but if you have the money and want to explore this life, do it.<\/p>\n\n\n\n<p>You may find this is your simple life.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Break Free From The Chains Of Consumerism<\/h2>\n\n\n\n<p><strong>How can I make my life more simple?<\/strong><\/p>\n\n\n\n<p>You can make your life more simple by knowing what you want from life.<\/p>\n\n\n\n<p>As I mentioned above, life experience will always be your number one critic when it comes to picking and choosing.<\/p>\n\n\n\n<p>Create a list of what you feel a simple life would be for you.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Less eating out and more homemade cooking<\/strong><\/li>\n\n\n\n<li><strong>Playing games with the family instead of going to sports events<\/strong><\/li>\n\n\n\n<li><strong>Small road trips instead of years out-of-country holidays<\/strong><\/li>\n\n\n\n<li><strong>Eating smaller meals and growing a garden<\/strong><\/li>\n\n\n\n<li><strong>Walk more instead of driving or use a bike<\/strong><\/li>\n\n\n\n<li><strong>Family time<\/strong><\/li>\n\n\n\n<li><strong>Reading books instead of watching television<\/strong><\/li>\n\n\n\n<li><strong>Going back to school and learning a new hobby or course<\/strong><\/li>\n\n\n\n<li><strong>Making time for yourself<\/strong><\/li>\n\n\n\n<li><strong>Nature walks<\/strong><\/li>\n\n\n\n<li><strong>Local community group participation<br><\/strong><\/li>\n\n\n\n<li><strong>Volunteering<\/strong><\/li>\n\n\n\n<li><strong>Reuse what you already have<\/strong><\/li>\n\n\n\n<li><strong>Save money wherever possible<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Now, make another list of what your current life looks like and what needs to change to live that simple life you just documented.<\/p>\n\n\n\n<p>There&#8217;s no one size fits with to live a simple life.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">The Simple Life Is Possible For Everyone<\/h2>\n\n\n\n<p><strong>What are the possibilities of living a simple life?<\/strong><\/p>\n\n\n\n<p>The possibilities are exponential when it comes to living a simple life.<\/p>\n\n\n\n<p>Living a simple life is based on need, whether you are struggling financially or financially secure and don&#8217;t care about consumerism.<\/p>\n\n\n\n<p>Whatever you choose, do it slowly to see how each step of the simple life makes you feel.<\/p>\n\n\n\n<p>If a family is involved, don&#8217;t do a simple life switch without their input because their ideas are just as important.<\/p>\n\n\n\n<p>For example, if you want to sell your house and move to the country. You don&#8217;t have to, but it may provide for a simple life.<\/p>\n\n\n\n<p>Ask the kids what their thoughts are about moving to the country, citing the pros and cons of country living vs <a href=\"https:\/\/canadianbudgetbinder.com\/2014\/12\/15\/15-frugal-city-living-tips-save-budget\/\"><strong>city living<\/strong><\/a>.<\/p>\n\n\n\n<p>Your children won&#8217;t live with you forever, and most often, what you do today reflects on them when you are gone.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Living Our Simple Life, Not Yours<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"683\" height=\"1024\" src=\"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/How-we-live-a-simple-life-in-our-40s-683x1024.webp\" alt=\"the simple life \" class=\"wp-image-142962\" style=\"width:779px;height:auto\" srcset=\"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/How-we-live-a-simple-life-in-our-40s-683x1024.webp 683w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/How-we-live-a-simple-life-in-our-40s-200x300.webp 200w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/How-we-live-a-simple-life-in-our-40s-280x420.webp 280w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/How-we-live-a-simple-life-in-our-40s-150x225.webp 150w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/How-we-live-a-simple-life-in-our-40s-300x450.webp 300w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/How-we-live-a-simple-life-in-our-40s-696x1044.webp 696w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/How-we-live-a-simple-life-in-our-40s.webp 735w\" sizes=\"auto, (max-width: 683px) 100vw, 683px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\">1. Happiness<\/h2>\n\n\n\n<p>Living a simple life boosts your health and happiness with less worry and improved self-awareness.<\/p>\n\n\n\n<p>Self-awareness is understanding your character, feelings, desires, needs, motives, and wants.<\/p>\n\n\n\n<p>Once you break away from the social norms, you have unleashed your lion, and the world is yours.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. Less Stuff<\/h2>\n\n\n\n<p>Having less stuff is a significant simple life need of ours since we have too much.<\/p>\n\n\n\n<p>Lately, we&#8217;ve been working on selling our stuff and getting rid of what we no longer need. Less is more, and we&#8217;ve come to realize that in 2020.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. Reduced Waste<\/h2>\n\n\n\n<p>If we can reuse something, we will because there&#8217;s no sense in spending money buying a product repeatedly.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">4. Improved Savings<\/h2>\n\n\n\n<p>The less money you spend, the bigger your bank savings will grow. Invest your money and control your debt by paying it off.<\/p>\n\n\n\n<p><a href=\"https:\/\/canadianbudgetbinder.com\/2019\/01\/15\/reducing-household-waste-tips\/\"><strong>Reducing Household Waste Tips For Beginners<\/strong><\/a> is a great starting point if you&#8217;re interested in reducing your footprint.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5. Self-Awareness<\/h2>\n\n\n\n<p>Like anything, when we take it down to the bare essentials, we realize just how important things are.<\/p>\n\n\n\n<p>It&#8217;s like having a child in a room filled with toys and unsure what to start playing with first.<\/p>\n\n\n\n<p>The child might throw toys around because there are so many to play with.<\/p>\n\n\n\n<p>Take all of the toys away and leave just one toy, and you&#8217;ll find that child will come up with new ways to play with that toy.<\/p>\n\n\n\n<p>The same is valid for adults. The more we have, the less we take the opportunity to explore all of the possibilities of each item.<\/p>\n\n\n\n<p>Minimize and become self-aware of what makes you happy from day to day and explore those avenues to live a simple life.<\/p>\n\n\n\n<p>It may be a walk around the block or sitting on the front porch having a coffee and playing with the chipmunks.<\/p>\n\n\n\n<p>Whatever you do, make it about you and your willingness to embrace what the world has to offer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">6. Homesteading<\/h2>\n\n\n\n<p>This has nothing to do with living on a farm but with preserving, creating recipes, and homemade cooking.<\/p>\n\n\n\n<p>This year we have made <a href=\"https:\/\/canadianbudgetbinder.com\/2019\/07\/14\/easy-sugar-free-mulberry-jam-keto\/\"><strong>jam from mulberries<\/strong><\/a>, strawberries, and blueberries with minimal effort and cost.<\/p>\n\n\n\n<p>We&#8217;ve also made <a href=\"https:\/\/canadianbudgetbinder.com\/2020\/10\/11\/how-to-make-the-easiest-pickled-beets\/\"><strong>jars of pickled beets<\/strong><\/a> and are currently waiting for our <strong>crab apple cider vinegar<\/strong> to mature.<\/p>\n\n\n\n<p>We bake all year long and create recipes without having to spend money on pre-made foods.<\/p>\n\n\n\n<p>It&#8217;s not that we don&#8217;t, but we limit what we purchase because of these practices that we continue to explore.<\/p>\n\n\n\n<p>Making time to do this is essential, especially if you have kids and work crazy hours.<\/p>\n\n\n\n<p>I know I do it, but I still manage to eat a healthy diet with the odd treats that I make.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Make Time To Live A Simple Life<\/h2>\n\n\n\n<p>Motivation is key. If you want to be lazy, you&#8217;ll stay that way and continue to complain that your life is out of control.<\/p>\n\n\n\n<p>Find ways to make it work even if you are working with limitations in your life, as my wife has.<\/p>\n\n\n\n<p>Break the chains of consumerism and debt and take on the simple life that fits your needs.<\/p>\n\n\n\n<p><strong>Discussion: What does a simple life mean to you as you age?<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Net Worth Losses and Gains<\/h2>\n\n\n\n<p><strong>What happened to our money in September?<br><\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"673\" height=\"243\" src=\"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Net-Worth-Losses-and-Gains.webp\" alt=\"Net Worth 2020 September\" class=\"wp-image-142963\" style=\"width:779px;height:auto\" srcset=\"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Net-Worth-Losses-and-Gains.webp 673w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Net-Worth-Losses-and-Gains-300x108.webp 300w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Net-Worth-Losses-and-Gains-150x54.webp 150w\" sizes=\"auto, (max-width: 673px) 100vw, 673px\" \/><\/figure>\n<\/div>\n\n\n<p>In September, we saw an increase in our net worth, mostly from increasing our investments.<\/p>\n\n\n\n<p>Although we saw a modest increase, I&#8217;m sure it won&#8217;t last that long, seeing how the markets have been lately.<\/p>\n\n\n\n<p>The financial markets are still very volatile, so I&#8217;m expecting the same fluctuations with our investments.<\/p>\n\n\n\n<p>All we can do is ride out the storm without panicking since investing is for the long-haul, well, retirement for us.<\/p>\n\n\n\n<p>We need to consider that we will not need this money for at least another 25 years or more.<\/p>\n\n\n\n<p>Other than that, the remainder of the cash is in our emergency savings account.<\/p>\n\n\n\n<p>All bills are paid, and we owe nothing.<\/p>\n\n\n\n<p>What I can say at this particular time is we are lucky enough to be in this situation.<\/p>\n\n\n\n<p><strong>How was your month for money?<\/strong> Share your comments below.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Net Worth 101<\/h2>\n\n\n\n<p><strong>What Does&nbsp;Individual Net Worth&nbsp;Mean?<\/strong><\/p>\n\n\n\n<p><strong>Net Worth<\/strong> is a snapshot of your financial health, sort of like a picture or debt to net assets.<\/p>\n\n\n\n<p>In simple terms, it\u2019s a&nbsp;<strong>total of the value of your assets minus your liabilities<\/strong>.<\/p>\n\n\n\n<p>We credit the growth of our net worth due to patience, perseverance, using a monthly budget, and not giving up.<\/p>\n\n\n\n<p>Your numbers may go up and down, but don\u2019t let the numbers scare you; rather, understand why and move on.<\/p>\n\n\n\n<p>If you would like to use our budget, I offer a FREE downloadable budget that I created and that you can use.<\/p>\n\n\n\n<p>I don\u2019t charge for it because I want you to save money, not spend more!<\/p>\n\n\n\n<p>There are tonnes of other free resources at Canadian Budget Binder to help you build your net worth.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Calculate Your Net Worth<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"568\" src=\"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Preceding-12-Months-Net-Worth-1024x568.webp\" alt=\"yearly net worth 2020\" class=\"wp-image-142964\" srcset=\"https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Preceding-12-Months-Net-Worth-1024x568.webp 1024w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Preceding-12-Months-Net-Worth-300x166.webp 300w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Preceding-12-Months-Net-Worth-768x426.webp 768w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Preceding-12-Months-Net-Worth-757x420.webp 757w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Preceding-12-Months-Net-Worth-150x83.webp 150w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Preceding-12-Months-Net-Worth-696x386.webp 696w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Preceding-12-Months-Net-Worth-1068x592.webp 1068w, https:\/\/digitalskyweb.co\/canadianbudgetbinder.com\/wp-content\/uploads\/2020\/10\/September-2020-Preceding-12-Months-Net-Worth.webp 1343w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<p><strong>Do you know how to calculate your own Net Worth? <\/strong><\/p>\n\n\n\n<p>We like to calculate our net worth every month to know if we are still on track.<\/p>\n\n\n\n<p>Some people calculate it yearly or quarterly, but it\u2019s up to you and how informed you want to stay.<\/p>\n\n\n\n<p>Net Worth is <em>only an estimate,<\/em> and not everyone uses the same type of figures to tally it up.<\/p>\n\n\n\n<p>Some of you may not include vehicles like we do or leave out assets inside the home as we have.<\/p>\n\n\n\n<p>You might be that person that believes that your house should be excluded.<\/p>\n\n\n\n<p>It depends on what you want to calculate or sell today and make money for tomorrow.<\/p>\n\n\n\n<p>Figuring out net worth is relatively easy as long as you know your monthly financial numbers.<\/p>\n\n\n\n<p>Net Worth is <strong>adding up all your assets<\/strong>&nbsp;(what you own) and then&nbsp;<strong>taking away your liabilities<\/strong>&nbsp;(what you owe), giving you a net worth number.<\/p>\n\n\n\n<p>Understanding your net worth will help you determine if you are on track meeting or beating your personal financial goals.<\/p>\n\n\n\n<p>It&nbsp;doesn\u2019t&nbsp;get any easier than that.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Determining Your Net Worth<\/h2>\n\n\n\n<p><a title=\"How We Calculate Our Net Worth Now Calculate Yours\" href=\"https:\/\/canadianbudgetbinder.com\/2012\/05\/02\/how-we-calculate-our-net-worthnow-calculate-yours\/\" target=\"_self\" rel=\"noopener noreferrer follow\" data-wpel-link=\"internal\"><strong>How to Determine Net Worth?<\/strong><\/a><\/p>\n\n\n\n<p><strong>Net Worth = Assets \u2013 Liabilities <\/strong><\/p>\n\n\n\n<p>Why not go ahead and&nbsp;calculate your own using our Free Money saving Tool&nbsp;<a title=\"Net Worth Calculator\" href=\"http:\/\/canadianbudgetbinder.files.wordpress.com\/2012\/03\/networth-calculator-canadian-budget-binder-2012.xlsx\" target=\"_blank\" rel=\"noopener noreferrer external nofollow\" data-wpel-link=\"external\"><strong>Net worth Calculator (Canadian Budget Binder 2012)<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Financial Numbers<\/h2>\n\n\n\n<p>When&nbsp;<strong><a title=\"Finances In The New Year + New Budget = Success&nbsp;Formula\" data-wpel-link=\"internal\" href=\"https:\/\/canadianbudgetbinder.com\/2013\/01\/01\/finances-in-the-new-year-new-budget-success-formula\/\" target=\"_self\" rel=\"noopener noreferrer follow\">budgeting,&nbsp;<\/a><\/strong>anything is possible; we are proof of that, although we still have a long way to go in our journey.<\/p>\n\n\n\n<p>These are our numbers and goals, not a means of comparison to your own goals to others\u2019 <strong>target<\/strong> goals.<\/p>\n\n\n\n<p><strong>We don\u2019t care how much money others earn<\/strong> or if they have a high net worth or lower than ours as it\u2019s&nbsp;<strong>not a competition. <\/strong><\/p>\n\n\n\n<p>I hope our experiences will help guide you along your financial path, working towards debt freedom.<\/p>\n\n\n\n<p>Not everyone has the same path in life.<\/p>\n\n\n\n<p>Some of you may have had to start over like I did or go to school a second time and now have<strong> <a title=\"How I Paid Off My OSAP Loan Fast\" href=\"https:\/\/canadianbudgetbinder.com\/2013\/03\/13\/how-i-paid-off-my-osap-loan-fast\/\" target=\"_self\" rel=\"noopener noreferrer follow\" data-wpel-link=\"internal\">OSAP loans<\/a><\/strong> to pay back.<\/p>\n\n\n\n<p>Others may have <strong><a title=\"Rebuilding Life and Finances After Surviving A Divorce\" data-wpel-link=\"internal\" href=\"https:\/\/canadianbudgetbinder.com\/2012\/08\/18\/rebuilding-life-and-finances-after-surviving-a-divorce\/\" target=\"_self\" rel=\"noopener noreferrer follow\">divorced,<\/a> l<\/strong>ost money in the stock market or other investments, suffered<strong> <a title=\"Strategies to Survive Unemployment, Job Loss,Injury and Disability At Work\" data-wpel-link=\"internal\" href=\"https:\/\/canadianbudgetbinder.com\/2012\/08\/09\/strategies-to-survive-unemployment-job-lossinjury-and-disability-at-work\/\" target=\"_self\" rel=\"noopener noreferrer follow\">job loss<\/a>,<\/strong> fell ill or injured on the job, and so on, but you can\u2019t let that stop you from achieving your financial goals.<\/p>\n\n\n\n<p>You were given trust funds, paid-for homes, educations, or other perks that give you a financial kick-start, and that\u2019s OK too.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Earn It, Save It, Invest It, Build It<\/h2>\n\n\n\n<p>Remember what I said,&nbsp;<strong>\u201cIt\u2019s not about how much money you make; it\u2019s<\/strong> how you save it.\u201d<\/p>\n\n\n\n<p>The reason people accumulate wealth because <em><strong>they know how to save or invest <\/strong><\/em>even if inherited or<a title=\"Financial Independence may only exist once we get&nbsp;there\" data-wpel-link=\"internal\" href=\"https:\/\/canadianbudgetbinder.com\/2013\/07\/04\/financial-independence-may-only-exist-once-we-get-there\/\" target=\"_self\" rel=\"noopener noreferrer follow\"><strong> a lottery win.<\/strong> <\/a><\/p>\n\n\n\n<p>Minor improvements should mean significant strides in working towards reaching your goals.<\/p>\n\n\n\n<p>Sometimes we have to fail to learn, and we\u2019ve all been there.<\/p>\n\n\n\n<p>Money can be evil for some people, especially those who negatively affect their financial situation.<\/p>\n\n\n\n<p>Be optimistic, and little by little with determination, you too should see improvements if you want that to happen.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Canadian Budget Binder Net Worth Updates 2020<\/h2>\n\n\n\n<p>Click the links below to read our net worth updates for the year 2020.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a data-wpel-link=\"internal\" href=\"https:\/\/canadianbudgetbinder.com\/2020\/02\/20\/how-to-improve-your-negative-net-worth-february-2020-net-worth-update-0-11\/\" target=\"_self\" rel=\"follow noopener noreferrer\"><strong>January 2020 Net Worth Update<\/strong><\/a><\/li>\n\n\n\n<li><a data-wpel-link=\"internal\" href=\"https:\/\/canadianbudgetbinder.com\/2020\/03\/19\/how-to-prepare-for-a-financial-emergency-amidst-covid-19-february-2020-net-worth-update-2-20\/\" target=\"_self\" rel=\"follow noopener noreferrer\"><strong>February 2020 Net Worth Update<\/strong><\/a><\/li>\n\n\n\n<li><a data-wpel-link=\"internal\" href=\"https:\/\/canadianbudgetbinder.com\/2017\/04\/14\/become-financially-free-net-worth\/\" target=\"_self\" rel=\"follow noopener noreferrer\"><strong>March 2020 Net Worth Update<\/strong><\/a><\/li>\n\n\n\n<li><strong>April- Oops I forgot<\/strong><\/li>\n\n\n\n<li><a data-wpel-link=\"internal\" href=\"https:\/\/canadianbudgetbinder.com\/2016\/06\/16\/your-personal-financial-report\/\" target=\"_self\" rel=\"follow noopener noreferrer\"><strong>May 2020 Net Worth Update<\/strong><\/a><\/li>\n\n\n\n<li><a data-wpel-link=\"internal\" href=\"https:\/\/canadianbudgetbinder.com\/2020\/07\/16\/simple-steps-that-help-us-increase-wealth-in-our-40s-june-2020-net-worth-update\/\" target=\"_self\" rel=\"follow noopener noreferrer\"><strong>June 2020 Net Worth Update<\/strong><\/a><\/li>\n\n\n\n<li><a data-wpel-link=\"internal\" href=\"https:\/\/canadianbudgetbinder.com\/2020\/08\/20\/10-debt-free-living-tips-to-consider-before-retirement-our-july-net-worth-2-58\/\" target=\"_self\" rel=\"follow noopener noreferrer\"><strong>July 2020 Net Worth Update<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/canadianbudgetbinder.com\/2016\/09\/15\/5-reasons-why-you-should-build-wealth-from-the-inside-out\/\"><strong>August 2020 Net Worth Update<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p>That\u2019s all for this month\u2019s net worth update, but please check in the middle of <strong>November<\/strong> <strong>2020<\/strong> to see how we made out in <strong>October 2020 <\/strong>with our financial portfolio.<\/p>\n\n\n\n<p>~Mr.CBB<\/p>\n\n\n\n<p>Note: This page may contain affiliate links where this blog earns a little income if you choose to use a product or service.<\/p>\n\n\n\n<p>Freedom Photo compliments of <a href=\"https:\/\/unsplash.com\/@nathan_mcb?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Nathan McBride<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There&#8217;s nothing better than living the simple life. Pay the bills and just enjoy life in our 40&#8217;s is our motto. <\/p>\n","protected":false},"author":2,"featured_media":142965,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"disable-jtr":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[643,662,1493,741],"tags":[5,14245,523,14246,740,11353,14247,14248,14249],"class_list":{"0":"post-44951","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-everyday-living-tips","8":"category-frugal-living","9":"category-life-musings","10":"category-our-net-worth","11":"tag-canada","12":"tag-consumerism","13":"tag-marketing","14":"tag-minimalist","15":"tag-net-worth-2","16":"tag-simple-life","17":"tag-simple-life-40s","18":"tag-the-simple-life","19":"tag-the-story-of-my-life"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How We Live The Simple Life In Our 40&#039;s: Sept 2020 Net Worth Update (+1.27%) - Canadian Budget Binder Your Way To Debt-Freedom<\/title>\n<meta name=\"description\" content=\"Living your simple life means just as much to me as it does to the next person. 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