Net worth July 2016

To reach financial freedom someday it important for me to follow how my finances are improving. Idea is that I should be able to grow my assets and pay off my liabilities and thus growing my net worth.

Assets

Home: 279,200.00€
Portfolio: 4,321.00€
Debt handling account: 508.00€
Cash: 450.00€

Total: 284,479.00€

Liabilities

Mortgage: 224,342.00€
Student loans: 13,677.00€
Spending loan: 3,596.00€
Credit card: 650.00€

Total: 242,255.00€

Net worth 42,224.00€

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My net worth keeps on rising. Hopefully I can keep this up.

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My portfolio, or what I like to call snowball kept on rising on it’s own.

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My bad debts keep going down but I still have more of those than I had a year ago.

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Income and Expenses for July 2016

I hope that by following actively my spending, it will keep me for spending too much. Also I want to spend my money on the right things and pay off my debts.
Other thing is that I want to show that even if I do not earn the most. I still can save and invest and hopefully reach financial independence.

Income

Paycheck: 2,876.00€

Expenses

Housing

maintenance fee: 198.50€
Mortgage interest: 225.00€

Living

Food and others budget: 500.00€
Fuel: 150.00€
Electric: 108.71€
Dentist: 95.90€
Insurance: 67.15€
Gym: 66.00€
Internet: 19.90€
Daycare: 11.50€

Debt payments

Mortgage: 750.00€
Student loan: 125.00€
Credit card: 300.00€
Spending loan: 100.00€

Total:  2,717.66€

I managed to spend less money than I made. So that was great. I had a lot of expenses this month, more than usually. I spend a lot on fuel. Also, I get electric bills and insurance bills not every month and sometimes they hit the same month like happened now. 

I also had visit at the dentist. One hour of dental work cost that much. I have to go again next month over there when they will do some more work. Last time I went to dentist 4 years ago when you should go there every year, so some work has piled up. But no cavities so that was good. 

Income and Expenses for June 2016

I have been following my income and expenses for couple years now. It started for as a way to see how I actually was spending my money and for the first few months I was spending a lot more than I was making. I did some corrections to my spending to make sure I did not spend more than I make.

I hope that by following actively my spending, it will keep me for spending too much. Also I want to spend my money on the right things and pay off my debts.

Other thing is that I want to show that even if I do not earn the most. I still can save and invest and hopefully reach financial independence.

Income

Paycheck: 2,922.00€

Expenses

Housing

maintenance fee: 198.50€
Mortgage interest: 225.00€

Living

Food and others budget: 500.00€
Clothes: 167.00€
Gym: 66.00€
Fuel: 60.00€
Daycare: 40.95€
Internet: 19.90€

Debt payments

Mortgage: 750.00€
Student loan: 225.00€
Credit card: 200.00€
Spending loan: 100.00€

Total: 2,452.85€

In June I made more than I spend wich is good. My Income was higher because of overtime, but with finnish taxation system, I also paid a lot if taxes on that overtime.

Expenses where also higher than I would like them to be, though, most of my expenses comes from debt payments. In Finland we have the sales this time a year and spend some money in those. This was the first time in the last 2 years that I have bought something for myself, mainly underwear, socks and clean clothes to wear at work.

One expenses that went up was the maintenance fee that we have to pay monthly. I pay half of it and my wife pays the other. That sum is the amount I have to pay it every month. It’s quite a lot and every year it seems to go up. Next time we buy a home we need to look in that so we find place where it’s not so big. Our building has some features that cost a lot to maintain, that I could live without.

Net worth June 2016

To reach financial freedom someday it important for me to follow how my finances are improving. Idea is that I should be able to grow my assets and pay off my liabilities and thus growing my net worth.

Assets

Home: 279,200.00€
Portfolio: 4,037.00€
Debt handling account: 416.00€
Cash: 400.00€

Total: 284,053.00€

Liabilities

Mortgage: 225,111.00€
Student loans: 13,793.00€
Spending loan: 3,686.00€
Credit card: 850.00€

Total: 243,440.00€

Net worth 40,613.00€


This is how my net worth has developed after I started to track it. It was in the negative and I have slowly been growing it up. That big jump happen when I valued our home, it had grown in value over the time we had been living there. My net worth grew from last month, so that is good.

This is my portfolio, it has grown a lot by itself over the past two years. And from last month it grew again, but mainly from me adding new money to it.

This is the bad debts that I have since I started to track them. I have really struggle with these. Somehow I manage find more of these when I should be getting rid of them. But on the positive side, last months direction is down so that’s good.