Net Worth Update – June 2017

July 10, 2017

Wealth Building Goals:

  1. Be eligible to be an Advanced customer with my primary bank by July 2017 – 92.5% of the way there
  2. Have a fully funded emergency fund by March 2018 – 91% of the way there
  3. Have a net worth of $150,000 by March 2019 – 62% of the way there
  4. Be eligible to be a Premier customer with my bank by March 2020 – 9.25% of the way there

June Overview: 

June was the first month of 2017 where I was able to earn extra income outside of my nine to five. I signed up to proctor an exam – it was so much fun and it was the easiest $300. I will definitely sign up to do that again. In regards to my June strategy, I was able to stick to my grocery list and stayed within my $500 grocery budget. Actually, I was $58 under-budget for the first time in a long time and I was shocked when I looked at all my receipts because I felt like I went over budget.

I downloaded an App on my android to track all my expenses. Carrying around a cash book to write down everything I was buying was becoming frustrating. Especially because I want to have minimal items in my purse. So having this app on my phone allows me to track my income, my accounts, my expenses and spending. I haven’t been able to find an app that does everything I want or need but this app does the job. For now.

Lastly, 51.5% of my salary was saved over the month which helped my net worth increase by $4,433 or 7.39% of my $60,000 goal for 2017.


Net worth changes for June 2017:


Job Pension (+1,555.05): For the month of June, I contributed 10% of my salary and my job matched my contribution. When I started my job I had to go through a three month probation period before I was eligible for my company’s pension, while I was waiting I was saving my 10% somewhere else and transferred everything once this account was opened. So from inception-to-date $3,070 has been saved and the plan has earned $433 in interest.

Emergency Fund (+39.48):  I made a contribution this month but because I had to use some of the funds out of my 1-month buffer it looks like the increase was a small one. But I added $339.48 to the fund. Hopefully I don’t have to use it during July and can just keep building it.

Cash (-581.00): In addition to the normal transactions that are in transit to their appropriate accounts, I like to keep the grocery budget in cash and have a coin jar for all the loose change.

House Fund (+3080.36): I have been putting aside $3k each month with the hopes of saving enough to purchase my first home by the end of next year. The change for this balance is due to the contribution from May 2017 and interest earned on the account.


I do not have any kinds of debts. I do however, use my credit cards for everyday expenses and I also ensure that I pay them off in full at the end of every month.

July 2017 Strategy

This is more of my strategy for the rest of the year. I plan on keeping my spending to a minimum because I want to make sure I hit all of my benchmarks for 2017. In order to hit all of them I will not be purchasing any new shoes, clothes (except for the ones I planned on purchasing at the beginning of the year) and will try to do my hair myself. I will look for other ways to cut expenses as well as ways to increase my income. The other half of my July strategy is my normal monthly goals:

  • Save 60% of my salary
  • Spend $250 or less on Groceries
  • Stick to grocery list
  • Track all expenses

By Sylvia


  1. Reply


    Sylvia, I love that you do a net worth update publicly. I’ve seen lots of people publish their blog income reports but not a net worth update. My husband and I go over our books monthly privately but making this public really increases your accountability. One thought – if you haven’t found an app that does what you want, have you thought about writing one that will do it for you? It’s another heap of work, but it could really be worth it since you have a desired end state already. I created an Excel workbook that tracks our spending based on what categories we choose when we balance our accounts. It’s free on my page if you want to check it out – I’m revamping my entire site so all my images are gone. Let me know if you’re interested. It’s literally linked without needing to submit an email to download.

    1. Reply


      Thanks Melissa! I have never thought about creating a finance app – will look into this. How long did your spreadsheet take to make? I love the level of detail in it.

      1. Reply


        Oh my! It took me years actually. We started doing it in mid-2013 and it’s gotten better and better (from our perspective) meaning more and more detailed and customized to our wants. The one that is on my site is actually our favorite iteration because the first page (called the Dash short for Dashboard) AUTOMATICALLY sums the categories. I used to do it by hand – and I was counting cash down to the penny. Anyway, it took me at least a month (maybe two) to figure out the formula in the Dash. Once I did, though, it was incredibly rewarding. If you want to use it, let me know what you think of it. Cheers!
        Melissa recently posted…Part 2: How I flew solo with two kids, internationally My Profile

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