All tagged Net Worth

Time for My Monthly Net Worth Check-In

Time for My Monthly Net Worth Check-In

Ruth
ETFs, Personal Finance, PocketSmith, Sharesight, Net Worth

Wednesday marked the beginning of a new month. The first day of any new month is the day that, from a personal finance perspective, energises me the most because it is when I update our net worth and get a snapshot in time of how Jonny and I are financially progressing. Are we growing more prosperous or poorer? When I’m asked for a sound bite one-liner/single comment about ‘taking control of your money’, encouraging others to track their net worth is my go-to reply. Without a doubt, it is the most effective tool for understanding whether you are going backwards or forwards financially. It only takes a couple of minutes each month, but hands down, it's the most simplistic yet effective way of showing us how far we have come and where we might be headed. Additionally, since I’m relatively open about our finances, I thought you might be interested in seeing our progress over the last month.

Life Update: Cost of Living

Life Update: Cost of Living

Ruth
Net Worth, Personal Finance, PocketSmith, Hnry, ETFs

Is life really more expensive for my whānau of three at the moment? I honestly wasn’t 100% sure. So, I decided to find out - in detail. Why? Economically speaking, it feels incredibly gloomy at the moment. It would be easy to fall into that mindset, which, as an optimist, I am loath to do. So, the best option is to find some facts. Managing personal finances is a delicate art of pulling various income and spending levers, and I wondered if all that I’m doing is working. To calculate what our life currently costs, I pulled up two full years of spending and earning data and compared them; the results were interesting.

Mortgage or Investing? Why Not Both?

Mortgage or Investing? Why Not Both?

Ruth
Debt, ETFs, Index Funds, Investment, Mortgage, PocketSmith, KiwiSaver, FI Series

Andrea asked me this question, “Mortgage vs investments... One or the other, or both?”  With two young kids, a $240,000 mortgage, and an eye on the share market, she’s wondering if delaying investing to get rid of the mortgage is the best move, or if she’s missing out on valuable time in the market. As our KiwiSaver balances grow as a nation, plus people become aware of share market investing as a successful way to make money outside of housing, more people question whether putting additional payments towards their mortgage is the ‘right’ thing to do. Would they become wealthier if they reduced their mortgage payments and invested that money instead? The fear of missing out is real.

I quit my job!

I quit my job!

Ruth
ETFs, Hnry, Investment, KiwiSaver, PocketSmith, SmartShares, Smart Invest, Smart, Budgeting, Net Worth

In a recent blog post, I rebalanced our investment portfolio; this time, I’m rebalancing my life. I resigned from my PAYE job. I’m another step closer to early retirement, and I’m VERY excited about it! I always looked forward to working on Wednesday and Thursday each week, and deciding to leave a job I enjoy, plus giving up $20,000 a year, has been challenging. 

Part 6: INVESTING - Financial Independence Series

Part 6: INVESTING - Financial Independence Series

Ruth
Budgeting, Debt, FI Series, KiwiSaver, Investment, Net Worth, Index Funds, ETFs

Congratulations, you have made it to the final blog post in this series of six: INVESTING. Investing can be incredibly complex, but I found a way to simplify it. I used to feel overwhelmed by the options available, but now I don't. I’m hoping to help you feel the same way. But still, this is one of the most challenging blog posts I have EVER written. Condensing “investing” into a single document is no easy feat. The Happy Saver was born out of my search for information about what I could invest our money in. It took me years to arrive at our current strategy, which combines KiwiSaver and ETF investments. Ultimately, I finally found THE perfect information, which I want to share today. 

Part 5: DEBT FREE - Financial Independence Series

Part 5: DEBT FREE - Financial Independence Series

Ruth
Budgeting, Debt, FI Series, KiwiSaver, Investment, Net Worth

I think of debt as a phase of life I moved through. That period has passed, and I’ve moved on. Jonny and I have now been entirely debt-free since our early 30s, and I encourage you to head down the debt-free path as well. Debt has always had an ‘ick’ factor for me, a feeling I am grateful for. I like earning interest, but I hate paying it. Despite our bank trying to lure us back into debt to buy a rental property, there has never been a day that I/we regretted becoming permanently debt-free. We never have to seek the bank's opinion about our financial decisions again.

Part 1: NET WORTH - Financial Independence Series

Part 1: NET WORTH - Financial Independence Series

Ruth
Net Worth, Budgeting, Debt, Emergency Fund, Investment, KiwiSaver, FI Series

Welcome to the first post in a short six-part blog series. I’m crafting a collection of posts to cover critical areas that will set you on the right path with your pūtea. Part 1 focuses on ‘Net Worth’. How much wealth do you have right now? If you added it all up and subtracted what you owe, what are you worth? This can be daunting if you’ve never thought about it. However, the objective is not to objectify wealth; it’s to create a level of wealth that makes you feel comfortable and in control of your present and future.

Easily Track Your Net Worth

Easily Track Your Net Worth

Ruth
Money Education, PocketSmith, Personal Finance

One of the critical behaviours that financially independent Kiwis have in common is that they track their net worth monthly. I’ve “properly” tracked the net worth of my whānau since 2015. I’ve watched it grow from $650,000 to $1,400,000. Tracking my family's net worth has been the most helpful tool in determining whether all the mahi I’m putting into my family's finances is paying off. I want you to track your net worth each month, and this blog post intends to show you how. Like all of my financial behaviours, I keep things relatively basic.

2022 Review & Net Worth Update

2022 Review & Net Worth Update

Ruth
ETFs, PocketSmith, Sharesight, Simplicity, SmartShares

I’m about to share my 2022 numbers with you. The primary reason is so that you have someone to benchmark against. Because of my blog, I’m lucky that I’m regularly conversing with people interested in discussing personal finances. Those conversations also helped me learn what Jonny and I could improve. Chances are that very few of you have friends and family willing to share their experiences with money to help you learn. Therefore, I’m happy to share ours. Please don’t judge me and my financial position; it’s just information. Use it how you will.

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