Net Worth Tracker

Why I track my Net Worth:

You can not improve if you don’t have a starting point. 

And for me, that point was December 2014. I had been working for a little over a month after being unemployed for 4 months and thought I should have a small emergency fund. At least $1,000 and I could build on it throughout the year. So I started “googling” and one day I stumbled across an article on The Simple Dollar on how to calculate what your Net Worth should be for your age. What I actually had,  didn’t come close to what I should have had. So I made it my mission to increase my net worth in 2015. It wasn’t going to be anywhere near the figure I calculated but it was a start.

What is included in my Net Worth Calculation:

For my assets, I include:

Social Insurance –  This is Bermuda’s National Pension Fund. Everyone is supposed to pay into this and everyone is entitled to the benefits. The kind of benefits you receive when you turn 65 depends on how many contributions you have made during your life.

Previous Employer Pension – My previous employer uses a defined benefits plan and because I resigned before I vested; I will be receiving my portion in March 2017. So I will be getting my portion plus whatever interest was earned, which is 4%.

Flex Account – My first employer’s pension had vested before I left and this was a defined contribution plan. That meant I could not roll it into my defined benefits pension because they are different plans. So I opened a “Flex account” with the pension company which would allow me to make voluntary contributions.

Cash – This is the money I keep for groceries and I have a baby bottle the I keep all of my loose change.

Emergency Fund – Right now I have five months worth of expenses saved and I am currently working on reaching six months before my 28th birthday.

Me Money – We get an allowance every month and whatever I have left over I put in this account. This money is for whatever I want. Each month I try to spend as little as possible so I can put my leftovers in this fund.

Current Net Worth:

February 2017: $73,031 (7.54%)

January 2017: $67,907 (7.92%)

Prior Year’s Ending Net Worth:

December 2016: $62,921 (Officially Became Debt Free in August 2016)

December 2015: $29,762

December 2014: -$11,123 (Started Tracking)


Note: Bermuda dollars and US dollars are 1 to 1.

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