• net worth updates

    Net Worth Update July

    net worth update july 2020

    Just a quick net worth update for July 2020.

    Quick overview

    On the 1. August my total net worth stands at 18 948.9€(+5.24%)

    Passive income 47.12€

    Mintos

    In July I withdraw 500€ from the Mintos marketplace. The remaining loans are almost all late. Mintos generated 7.5€ interest and shows me net annual return 11.41%.

    Mintos overview

    Stocks

    On the last day of July after I got dividends, I sold all my HAE1T at 4.6€ making me a 33% profit from the sale + 20€ dividends. I also sold my position with CPA1T at 1.09€ with a loss of 9%.

    I would be able to buy HAE1T back at 4.30€ and CPA1T at 1.07€ at the moment, but I think after a few months will be better entry spots. Probably start buying small amounts when prices start dropping.

    Dividends received: HAE1T – 20€ and TSM1T20.13€

    I am a long term holder, but it seems stupid not to sell at almost all-time high prices and not to buy back in when prices go lower.

    stock portoflio

    Equity funds

    In July I put another 200€ into NHCBHFFT and now I am holding 1000 shares. Baltic Horizon fund announced quarterly dividends and the payout will be reduced by 50% again this time.

    equity funds

    Bank savings account

    Currently have 11 230.33€ in my savings account. In July received 4.52€ interest from it.

    Cryptocurrency [AUD]

    It has been an amazingly good month in crypto world in July.

    My portfolio jumped 1000$ during the month. Thanks to Bitcoin jumped over 11 000$ and after I sold all my Bitcoins at 11k$ I bought and sold ETH for a couple of times, but it turns out I would have been better of just HODLing.

    Right now I hold 6 ETH and around 10 different altcoins that are very cheap.

    I also have some alt coins in Binance and offline wallets, but they are not worth not more than 200$ combined at the moment so I just not include them here right now.

    cryptocurrency portfolio

    Total passive income

    I started tracking my total passive income from January 2020 and right now I am holding dividend-paying shares, the interest-paying fund, opened a savings account, and hold a small portfolio in the Mintos P2P marketplace. The total passive income in July was 47.12€ (317.36%).

    47€ will buy me full tank of premium petrol in Sydney, Australia.

    passive income July
    Passice income July

    Net Worth

    On the 1. August my total net worth stands at 18 948.9€ (+5.24%)

    Steady net worth gains are better than no gains. And I haven’t really been frugal while saving money. I just try to be reasonable..

    Summary

    Recorded the best month with passive income in July. Quite happy about it.

    Did not save too much money from the work I did in July because I had fewer work hours in general and I am seeing that I will have reduced hours in the future as well. With these uncertain times I need to make sure that whatever happens, I will have some kind of income. The best time to invest is when others can’t.

  • net worth updates

    Net Worth Update June

    net worth update june 2020

    Where did June go? Anyone still here? I hope you guys find the way back to my blog at least a few times a month. I have repeated a sentence “consistency is the key to success” all over, again and again, to keep myself disciplined to post at least 2-3 times a month and started a side hustle too. Hit a subscribe button to get notified with the new posts. I will not spam anything else. Because I hate spam posts too.

    I also started an r/networthgainer at reddit.com. A community dedicated to gaining wealth. Budgeting, investing, trading, economics discussion, side hustling, and passive income. Ask for feedback for your project/website/blog, or build a team to make something together. You are all welcomed to join to make it an active subreddit.

    In June I achieved one of my 2020 goals to have at least 10 000€ in my emergency fund.

    Now that I have achieved this goal I shift my focus to building additional income streams through side hustles. For example, I started a Youtube channel: Dash Cam Weekly, currently have 6 videos and roughly 800 views. It is my first ever Youtube channel. To get monetized on Youtube I will need at least 1000 genuine subscribers and 4000 hours of watch time. I am at 109 subscribers and 44 hours at the moment. It is completely free to produce content and takes about 1-2 hours to do a video, but there is a lot of competition to get an audience, but CONSISTENCY IS KEY TO SUCCESS, and I am dedicated to making at least 33 videos and hopefully gain traction along the way.

    Now let’s start with net worth update

    Quick overview

    The total amount saved in June €1378.63 (-37.72%) Invested: + 150€ in equity funds +400€ in cryptocurrencies On the 1. July my total net worth stands at 18 005.43€(+8.2%)

    Mintos

    It took a whole month to get back 4 loans. Received 7.15€ in interest payments.

    Now almost all loans in my Mintos lending portfolio are overdue by now. I stopped giving out loans at the end of February. It has been 4 months. I should theoretically have most of my money back by September. Well, that is what I am hoping for.

    Yes, crowdfunding was good until Covid-19 happened. Is anyone else also investing in Mintos? Are you still give out loans or did you exit already?

    My strategy is to exit crowdfunding for now and put this money into dividend-paying stocks.

    mintos referral code
    Mintos sceenshot

    Stocks

    Happy to see green numbers in my tiny stock portfolio. HAE1T also announced a dividend payout of 0.14€ per share.

    I did not acquire anything in June and I didn’t receive any dividends.

    my stock market portfolio
    My stock portfolio June 2020

    Equity funds

    I bought 150€ worth of NHCBHFFT shares in June. Lowered my average purchase price a little bit. It will nice to receive a slightly bigger dividend payout next quarter.

    I didn’t receive any dividends in June.

    equity funds
    My equity fund portfolio

    Bank savings account

    10454.7€ in my bank savings account mean’s I have reached my 2020 goal to have at least 10 000€ in my emergency fund. I am holding it on easily accessible savings account on 0.75%-1.25% percent interest every year. This month I got 4.14€.

    This is enough to cover 12 months of basic livings costs for me. It is easier because I share my apartment and we split most of the bills.

    Cryptocurrencies [AUD]

    In June I put some more money in to make trading more fun. Had few good trades making 40-60$ profit per trade. At the end of month had to take some loss to buy in back cheaper. Learning to trade is fun. 2500$ is about max I am willing to trade with. I am long term believer in cryptocurrencies. If I get “stuck” in a trade then I am okay to HODL (hold for long time).

    coinspot referral code
    My cryptocurrency portfolio at Coinspot

    Total passive income

    I started tracking my total passive income from January 2020 and right now I am holding dividend-paying shares, the interest-paying fund, opened a savings account, and hold a small portfolio in the Mintos P2P marketplace. The total passive income in May was 11.29€(-23.66%).

    11€ will buy me 4 cups of coffee in Sydney, Australia.

    Passive income June 2020
    Passive income June 2020

    NET WORTH

    On the 1. July my total net worth stands at 18 005.43€ which s 8.2% gains comparing to 1.June.

    It is 99% from active work, but overall it does not really bother me. Right now it is important to have a ball going and start picking fruits after a few years.

    my net worth june 2020
    My net worth June 2020

    Summary

    It has been a year since I started documenting my net worth.

    I have come from 1000€ to 18 000€ in one year. I actually haven’t been really frugal to achieve this. But at the same time, I haven’t really bought myself anything expensive. I have a 10-year-old car. 2-year-old phone. The last time I bought clothes was like 4 months ago. The last most expensive thing I bought was earphones that cost me 300€. But other than that my top 5 expenses are:

    • Rent
    • Food
    • Fuel
    • School payments (for my visa in Australia)
    • Electricity & Home internet

    And to be honest. I don’t miss anything a part that I miss freedom. To be my own boss and having a schedule as I want. To have time to travel around the world without having any restrictions.

    But now in 2020, it is another type of world. Where freedom is an illusion and can be taken away by authorities whenever they please. Disguised as taking care of our health.

    I hope you found it easy to follow this post and do not forget to subscribe to my blog to get notified when there is a new blog post.

    Be well and thank you for visiting net worth gainer!

  • regular posts

    5 Simple ways to improve your personal finances

    Have you ever found yourself in a situation where you had to stress about money? Most of us probably say yes. Having your personal finances organized will save you time, lower your stress levels and it also saves you money because you won’t need to use your credit card or borrow the money with high interest ever again.

    Follow these simple rules to improve your personal finances and take control of your money right now:

    1.Start tracking your expenses

    Do you know how much you spent on ordering UBER eats last month? Or buying coffee? Measuring the expenses is the first step in managing your personal finances. Monitoring your expenses should not take more than 5–10 minutes a week. One of the easiest ways to track your expenses is to start budgeting with an app called MINT or if you are a bit old school like me a good old excel spreadsheet will do its work. You can download my favourite budgeting template HERE

    budgeting template to improve your personal finances
    Budgeting template screenshot

    2. Have an emergency fund

    Having an emergency fund is a really important part of managing your personal finances. Having at least 3 months’ worth of savings to cover your basic living expenses will make your living much less stressful. It provides priceless peace of mind knowing that whatever happens, you are ready for that without reaching out for a high-interest credit card or a consumer loan.

    3. Check your subscriptions and any recurring monthly bills

    You will be surprised by how many people have an unused gym membership. In 2019 alone, Americans spent $1.8 billion on unused gym memberships according to this survey.

    Maybe it is unused Spotify, Netflix or you really do not need the most expensive mobile plan? Checking your usage is definitely worth look at. I don’t know any company that will remind their customers that they haven’t used their service despite paying for it for months or even years.

    4. Make sure you pay the best prices

    While shopping is not exactly saving money, but if you have to buy something you can make the most of your money comparison shopping, ensuring that you’re paying the lowest prices for products and services. Look for discounts, coupons, and cheaper alternatives whenever you can.

    Many people are not aware that a lot of online stores get their products from Aliexpress, which is a basically online warehouse, you can find almost everything there with the cheapest prices, the only downside is the shipping time.

    If you like online shopping then you should use a browser extension called Honey (it is completely free) it will automatically find the bonus codes(if there is any) while you are checking out the order.

    Honey app to save money
    Honey app

    You can download the app by clicking here.

    5. Plan your weekly menu and shop groceries once a week

    Having a weekly shopping list will save you time and money. I find this one of the simplest ways to start managing your expenses. Reducing the frequency you go to the shops reduces the chances to do impulse purchases.

    Following these simple ways to improve your personal finances will help you save your time and money. It does not happen overnight but after a while, your savings will start to grow and you can pay off the debt you might have faster which means you can start saving even more.

    It is not just about having more money in your pocket it is peace of mind and less stress on things that can be solved with some lifestyle changes.

    Next post will be another net worth update. If you like the content I write please consider subscribing to my blog.

  • regular posts

    Buy the dip

    cryptocurrency exchange

    My thoughts when my home government decided to stop the payments into the retirement funds while the stock market prices are going lower.

    So they think it is only a good time to buy stocks when prices are going up?

    The same thinking is actually inserted into our minds as well. When there was a Bitcoin boom back in 2017-2018, there was a peak in the interest to buy and invest in Bitcoin. (WHEN THE PRICE WAS ALL-TIME HIGH)

    But later in 2018, when the Bitcoin price crashed and the interest to buy and invest in cryptocurrencies faded as well. But now in 2020, the price of Bitcoin has been recovered from as low as 3200$ USD to 9500$ USD at the time of writing. I must mention that Bitcoin all time the high is $20 089,00 USD

    I think this 3 minute video presents quite well the current situation of cryptocurrencies and how they might fit into our reality as a alternative to gold and other physical assets.

    All credits to: Dustin O’Daffer

    https://www.youtube.com/channel/UCVAy9j7CKEFy2tyVn7yHPOA

    My thoughts: There can be the maximum amount of 21 000 000 Bitcoin and at the same time there can be theoretically(and seems like it is same in the reality) infinite amount of USD, AUD, EUR or any other FIAT currency then it is logical to me that the price of Bitcoin is only going to go up long term (at least while they are printing more money and interest in cryptocurrencies stays consistent).

    If you consider investing in cryptocurrencies then I did small cryptocurrency exchange comparison for you. I mention that I use both of them. Binance for trading and Coinspot for hodling.

    Coinspot, buy bitcoin
    Coinspot, most trusted cryptocurrency exchange in Australia

    If you want to invest in Bitcoin and living in Australia then the best way is it to do through using Coinspot.

    Join CoinSpot with my bonus link and you will receive $10 worth of Bitcoin* after you complete your first AUD deposit.

    The Bonus Link: Click here

    Binance cryptocurrency exhange
    Binance Exchange, world biggest global cryptocurrency exchange

    If you are living in the United States or Europe, Australia, or any other country in the world then Binance is the best option for you.

    Binance Exchange is the leading global cryptocurrency exchange, with users from over 190 countries and regions. Capable of processing more than 1.4 million orders per second, Binance is the largest crypto exchange by trade volume and one of the fastest in the world. 

    Although the verification process may take up to 2 days, it is easy to deposit and withdraw and it is completely free.

    Trading fees are as low as 0.01% to 0.1% per trade.

    If you join with my bonus link we both get a 10% bonus of commission of every trade we make. You will get from my trade commissions and I will get from your trade commissions. Your account must be verified.

    The Bonus Link: Click here

    I also want to mention that investing in cryptocurrencies may be very risky and never invest money you don’t afford to lose.

    Investment in cryptocurrencies can be as small as 1$ because there are no fees to deposit and withdraw. No fees to hold your cryptocurrencies on the exchange and trading fees are usually 0.1%.

    I encourage you to do additional research and never do any actions based purely on emotion.

    Other Bonus Links

    I hope this cryptocurrency exchange comparison helped you. If you have any questions I will be happy to help. Let me know your thoughts in the comments.

  • regular posts

    The Personal Finance Books Everyone Should Read

    the personal finance books everyone should read

    Let’s be honest. I don’t read books a lot, but every time I start reading one, it gives me a boost of motivation that lasts for a few months. I just thought I share my favorite personal finance books that I think everyone should read.

    “Rich Dad, Poor Dad”

    (2009) by Robert Kiyosaki

    It was probably the first finance book I read and I must say it has changed my view of money and finances in general. It is really eye-opening and very easy to read and understand. If you have not read this then I recommend you to get this book as soon as possible.

    Rich Dad, Poor Dad certainly ranks as one of the all time classics in personal finance books. Rather than focus on concrete steps for what people can do to fix their financial life, the book presents an alternative mindset about money. According to Kiyosaki, the rich teach their children a fundamentally different view of the financial world.

    For example, the book points out that working hard and even earning a high income is not enough to ensure financial success. Rather, the book emphasizes that the rich work smart and spend more intelligently. Indeed, a person with a $100,000 income and $110,000 in expenses will end the year poorer while a person with a $30,000 income and $20,000 in expenses ends the year wealthier.

    “Rich Dad, Poor Dad” is a must-read for those looking to change their attitude about money and wealth. You can read all the practical books with sound financial advice, but if you lack the mindset to truly build wealth, it will be difficult to achieve financial success. (We provide some classic and lesser-known titles to add to your collection.

    “How I invest in equities”

    (2017) by Seppo Saario

    This book I got my first contact with technical analysis where he demonstrated a very simple and robust moving average crossover strategy. There’s obviously more to technical analysis but this book covers some of the basics.

    This book by the famous Finnish investor and to my knowledge is published in Finnish and Estonian only. Seppo Saario is a highly experienced investor and in his book, he describes his approach to investing in stocks. He starts off with general statistics about stocks being the best long-term investment. He shares personal experience and knowledge on how to get first exposure in the markets; when to buy or sell; some very interesting historical data about investments; how to manage risks etc. Saario writes about what to look for in a company to get the best value, how to avoid mistakes, best practices, and more.

    “The Intelligent Investor”

    (1949)by Benjamin Graham

    The Intelligent Investor is a must-read for any aspiring investor. This book covers pretty much everything related to investing with its over 500 pages of valuable information.

    The Intelligent Investor is the grandfather of investment strategy books. Author Benjamin Graham is often regarded as one of the fathers of the value investing school. The book stresses the importance of fundamental analysis and truly understanding your investments. By learning to analyze potential investments in depth, investors can learn how to spot underpriced stocks backed by robust companies.

    The central tenet of the book is that a scientific approach should be used when directing your investments. Reading this book you will learn to keep your emotions out of your investments and develop a skeptical stance toward anything resembling the type of Wall Street hype that so often gets the average investor into trouble.

    “The Little Book of Common Sense Investing”

    (2007) by John.C.Bogle

    This book’s main topic is investing long term in mutual funds. It covers this topic entirely. This book was really easy to read and understand and I totally recommend it.

    The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500.

    While the stock market has tumbled and then soared since the first edition of Little Book of Common Sense was published in April 2007, Bogle’s investment principles have endured and served investors well.  This tenth-anniversary edition includes updated data and new information but maintains the same long-term perspective as in its predecessor. 

    I hope you found this personal finance books everyone should read post interesting and if you have any personal finance book recommendations then please let me know and comment.

    You can read my latest net worth update here.

  • net worth updates

    Net Worth Update May

    net worth update may 2020

    Time to take May into pieces. Stock markets have been bounced back and it seems like fear of coronavirus has been faded a little bit and new “thing” came up called “Black Lives Matter”. Of course, it matters, so do any life. And lately, someone started to run “Start Investing” advertisements all over the radio stations. I think there was a good time to do some changes to the portfolio in March. Who bought stocks in March are now most likely able to make a profit from it. My strategy is still to acquire savings and only buy very small amounts of shares as I am still figuring out my way at investing and I think the regression has not even started yet. So better have some cash ready to hop in when the prices are right. Let’s now get to the business and start with the net worth update.

    Quick overview

    The total amount saved in May €2213.92, added + €370.30 into Bitcoin and on the 1st of June 2020, my portfolio stands at €16 626.80

    Mintos

    Mintos has been doing suspicious things lately and it makes me a little worried. Sometimes the numbers do not add up:

    Mintos overview, mintos referral link
    Mintos showing wrong numbers on its statement

    And many of the lending companies listed in Mintos has stopped paying, half of the loans are overdue and grace period which supposed to be up 2 days is now a week or even more. I stopped completely deposits and investments in early March. I am slowly getting my money back, but what we are learning now is that there is no quick way out unless you are one of the first ones to withdraw your money.

    mintos referral link
    My Mintos portfolio on 1st of June

    Stocks

    By the end of May, stocks have been rebounded fairly and my small stock portfolio gained roughly 100€ in its value. I did not buy into any positions in May.

    baltic stock market, stock portfolio
    mStock portfolio

    Funds

    I am currently holding a position in NHCBHFFT since 12.2016 and so far I have earned a total of 108.98€ interest. They pay it out quarterly and this month I have earned 9.08€. I reinvested this dividend and now hold 613 shares. Baltic Horizon fund cut its usual dividend by roughly 50% in the first quarter of 2020 due to COVID-19 and unknown circumstances around that. I agree with the managers of the fund and it is better to have some backup money on the fund account.

    equity funds, baltic horizon fund

    Bank savings account

    Currently, I have  €9854.98 on my bank savings account. That means I almost achieved my this year goal to have €10 000 on my savings account. In May, I put an additional 1805.46€ into my savings account. I also earned 0.71€ interest on it which is not much, but passive income is passive income.

    Cryptocurrency [AUD]

    I have put some money into cryptocurrency as the Bitcoin halving is on the was in the middle of May and I am speculating that it will be a good investment in the long term. I did one successful trade as well sold all my bitcoin at the price of 14800$ AUD and bought back at $13902.02 AUD making me profit 84.52$ AUD.

    net worth of my cryptocurrency portfolio. Coinspot crypto exhange
Bitcoin halving, bitcoin, ripple
    Cryptocurrency portfolio overview

    Total passive income

    I started tracking my total passive income from January 2020 and right now I am holding dividend-paying shares, the interest-paying fund, opened a savings account, and hold a small portfolio in the Mintos P2P marketplace. Total passive income in May was 14.79€.

    It may be not much but if I am consistent it will grow over the years and eventually I would be able to pay for my living costs from the passive income I get. For 14€ I would be able to pay for my monthly mobile recharge.

    Passive income May 2020
    Passive income May 2020

    NET WORTH

    For me, tracking net worth is really motivating. Knowing that you have a financial fortress behind you and having a month or two off from work will not be a problem. I started just with having ~1200€ on my name in June 2019 and currently, I am sitting at  €16 626.80 I don’t count my car, my phone, and other personal belongings in my net worth. I do not have any dept/loans on my name.

    net worth, savings
    Net worth update May 2020

    My net worth is a sum of:

    • Value of the shares I own each month and cash sitting on the investment account
    • Value of my savings account + cash
    • Value of the Equity funds I own
    • Value of my crypto portfolio
    • Value of P2P lending portfolio
    • Value of the SUPER/PENSION FUND
    • MINUS all dept/loans (which I do not have)

    Summary

    Some of you might think that the way I am going with my savings and investing is too slow and boring. Well, I think the same. I am actually looking to accelerate the progress and started my first Youtube channel and you might be interested to look this out: https://www.youtube.com/channel/UCiewl1Xe02D2Vxfx202cfSA

    Billionaire George Soros (actually I do not like him because of his reasons to do things) once said: “First million is the hardest, after this, it will go easier” And I also think saving first 1000€ was harder than saving 1000€ now, passive income and other small things are helping on the way.

    I have one rule when I am investing my money and this rule is NEVER LOSE MONEY

    It is really important for me to write this blog because it is really giving me a boost and motivation for the month to come because seeing the progress in beautiful charts and graphics is motivating.

    By the way, I am using an excel spreadsheet to track my spending and income. You can have it too, simply follow this link.

    I hope you guys enjoyed net worth update May and please subscribe to this blog to get notified with further updates.

  • net worth updates

    Net Worth Update March-April

    personal finance blog, net worth update

    Welcome back! Its been 2 months from my last net worth update, and this time I summarize March and April together. I hope you are all well and healthy and able to move towards your goals whether it be getting into better shape mentally, physically, or financially.

    Quick overview

    Overall I’ve invested additional 950€ in March and April

    By the 1st of May 2020, my portfolio stands at €14 412.88
    I’ll break it down below:

    Mintos

    I completely stopped deposits and reinvestments in my Mintos portfolio in early March due to COVID-19 and the restrictions. I feel like P2P lending might not be so safe investment when times are not that great. In about 2 months I have got back about 1/5th of my investments. 90% of my loans in Mintos are not longer than 3 months so theoretically I should have 90% of my investments available on my account in about 3 months.

    mintos overview
    Mintos screenshot

    In March Mintos generated me 6.53€ and in May 11.04€ passive income.

    Stocks

    Stocks have been interesting and when the prices go lower I am in buy- mode. I did buy into quite a few positions in March: Bought some more HAE1T and opened positions in TAL1T and TKM1T

    my stock portfolio

    I also received dividends from TKM1T total of 7.3€ landed on my bank account in April.

    Funds

    I am currently holding a position in NHCBHFFT since 12.2016. I did buy some more shares on a 1.1€ mark and lowered my average purchase price a little bit. As of 1. May Baltic Horizon Fund announced dividend reduction and will pay half as much as it usually does. Still happy about this investment and looking forward to increasing the share amount in the future. It is my only real estate/commercial rental property investment in my portfolio.

    equity funds

    Bank savings account

    Currently, I have  €8,049.52 on my bank savings account. In March and April, I put an additional 1532.24€ into my savings account. In April I also earned 3.12€ interest.

    Cryptocurrency

    Since March I have put some money into Bitcoin as the Bitcoin halving is on the way in the middle of May and I am speculating that it will be a good investment in the long term.

    bitcoin price

    Total passive income

    I started tracking my total passive income from January 2020 and right now I am holding dividend-paying shares, the interest-paying fund, opened a savings account, and hold a small portfolio in the Mintos P2P marketplace. Total passive income for March was 6.59€ and in April it was 21.46€

    passive income

    NET WORTH

    For me, tracking net worth is really motivating. Knowing that you have a financial fortress behind you and having a month or two off from work will not be a problem. I started just with having ~1200€ on my name in June 2019 and currently, I am sitting at  €14 412.88. I don’t count my car, my phone, and other personal belongings in my net worth. I do not have any dept/loans on my name.

    my net worth

    My net worth is a sum of:

    • Value of the shares I own each month and cash sitting on the investment account
    • Value of my savings account + cash
    • Value of the Equity funds I own
    • Value of my crypto portfolio
    • Value of P2P lending portfolio
    • Value of the SUPER/PENSION FUND
    • MINUS all dept/loans (which I do not have)

    Summary

    By the way, I am using an excel spreadsheet to track my spending and income. You can have it too, simply follow this link.

    Crazy times we live in and I hope you do not buy into the propaganda that has been released. I really think that there is something more than Covid-19 going on right now behind the scenes. I think all this reminds us that we need to be more self-sufficient and independent. Perhaps grow more of our own food, take more care of our body and mind.

  • regular posts

    Free budgeting template

    budgeting free template

    Budgeting

    It is always a good time to start having a good overview of finances. I am providing you with my favorite and FREE budgeting template that helps me to track my monthly income and expenses. This template is easy to use and will take about 1-2 minutes a day and it provides a summary of all your income and expenses by month, the savings rate, and a nice graph for an instant visual representation of your efforts. The categories on the left provide more detailed information.

    The income and expenses sheets work identically to each other. To have the overview page aggregate all your data, you’ll have to provide the date, select the type of income or expense from a drop-down menu based on the categories on the overview page, and enter the correct amount of money. For future reference, you can also add some detailed information.

    That’s it! The Excel sheet will take care of the rest and provide you with a nice summary of your budget. When a year passes by, just change the year you wish to view at the top of the overview sheet and you’ll be all set. If you ever wish to check your savings rate from a couple of years ago, you can always go back and change the date again. Excel will take care of the rest

    budgeting spreadsheet for free
    Screenshot of budgeting spreadsheet

    Download the free budgeting template here and let me know in the comments what you like or don’t like about it!

  • net worth updates

    Net Worth Update February

    This is the first entry for this blog and I’ll begin with a post that encapsulates the soul of the blog: Net Worth Updates stating what kind of investments I have made during last month, my reasoning behind them and some numbers showing how well my investments have performed during the month.

    As it is the first month I am ever doing this, there’s not much data to put into nice-looking informative charts. But I’ll still try my best.

    Quick overview

    Overall I’ve invested +€800.00 in February
    +€500.00 in stocks
    +€300.00 in P2P lending

    By the 1st of March 2020, my portfolio stands at €11 596.16
    I’ll break it down below:

    Mintos

    I have been investing with Mintos for quite a long time now and it has been steady passive income for me for nearly 3 years. I have previously withdrawn most of the portfolio to relocate back to Australia so now I am rebuilding my investment portfolio in Mintos and aiming to have 5000€ on the platform by the end of 2020. Currently, I am sitting on 1322.33€

    In February I deposited 300€ into Mintos and earned 6.85€ at NAR showing me 12.11%.

    passive income earned in Mintos
    Mintos screenshot

    As you can see I have NIL Defaulted loans on my name and total profit 690.36€. I have a quite clear strategy while investing in Mintos and I will break it down in a separate post.

    Stocks

    Stocks have been rather interesting in February thanks to my home bank now offering to buy, sell and hold stocks without any fees. I have to say that I got excited and bought small positions in HAE1T and TAL1T this month. All my positions are in red due to market correction. I do not worry because my strategy is to buy and never sell. My plan is to buy more when prices go lower. Regular investments are the way to go.

    Funds

    I am currently holding a position in NHCBHFFT since 12.2016 and so far I have earned a total of 99.47€ interest. They pay it out quarterly and this month I have earned 9.45€. I am very happy with this investment and I am planning to buy more shares when the prices go lower.

    Bank savings account

    Currently, I have  €6,517.28 on my bank savings account which normally pays out 1.25% interest, but this month I did not receive any interest because I did not meet the criteria to earn it because I made a withdrawal from my savings account. This month I added 650€ into my savings account.

    Cryptocurrency [AUD]

    Crypto has been rather interesting as well. I sold nearly 80% of my portfolio on 26. February. I did not manage to sell when my portfolio was at an all-time high with worth over 600$ but I believe a bigger dip is ahead. My plan is to buy back to my positions in BTC and XRP when the prices go lower. Yes, I am trying to time the market. Overall I have deposited into crypto 300$ that means I am currently 125.68$ in profit with cryptocurrencies.

    my cryptocurrency portfolio
    Marked yellow, when I sold about 80% of my portfolio

    Total passive income

    I started tracking my total passive income from January 2020 and right now I am holding dividend-paying shares, the interest-paying fund, opened a savings account and hold a small portfolio in the Mintos P2P marketplace. Total passive income for February was 16.34€.

    passive income

    NET WORTH

    For me, tracking net worth is really motivating. Knowing that you have a financial fortress behind you and having a month or two off from work will not be a problem. I started just with having ~1200€ on my name in June 2019 and currently, I am sitting at  €11 596.16. I don’t count my car, my phone, and other personal belongings in my net worth. I do not have any dept/loans on my name.

    my net worth and earned passive income
    My net worth growth since June 2019

    My net worth is a sum of:

    • Value of the shares I own each month and cash sitting on the investment account
    • Value of my savings account + cash
    • Value of the Equity funds I own
    • Value of my crypto portfolio
    • Value of P2P lending portfolio
    • Value of the SUPER/PENSION FUND
    • MINUS all dept/loans (which I do not have)

    Summary

    By the way, I am using an excel spreadsheet to track my spending and income. You can have it too, simply follow this link.

    February has been an interesting month. All these Coronavirus fears have been hitting the stock market. My net worth has risen quite a bit in February mostly thanks to active income and overall I am happy with the month. Hopefully, I can take advantage of the recent correction. We will see what the future brings. Stay healthy and see you in the next post!