#3 Net Worth Update – Getting back on track

Dear Reader,

Welcome to the monthly « Net Worth Update »! You might get use to this update and honestly it is a wonderful tool for monitoring my progress towards my ultimate goal, FIRE (financial independence and early retirement). Let’s see my numbers for this month!

 

Net Worth as of 1 December 2017	CHF
Bank account	5,732
Saving account	4,300
Brokerage account
Stocks	22,874
Cash	2,850
Net Worth	35,757

 

Consolidated Net Worth in CHF: 35’757 (up +9.2% from November)

I think it makes it easier for you to get a picture of my financial situation with the help of charts. As you may see I crossed the 50% saving rate again! My objective was to achieve a 40% saving rate, but I might reconsider my goals in January, I will keep you updated 😉. I slowly go go in the right direction, each month stashing some cash, no need to hurry. I just have to focus a bit more on the expense side of the equation. Indeed, even though I save 50% of my income, I sometimes feel that lifestyle inflation is impacting my saving rate. I have to closely watch the trend of my expenses for the next months!

 

 

The total cash portion of my net worth is slowly increasing while building my emergency fund. It should take me a few months before I stash 20K in my saving account. If you don’t know the importance of an emergency fund, feel free to read my post on this topic. I think it is the first and the most important step when aiming for less financial stress in your life.

Christmas is coming, be sure to go frugal early this month in order to afford buying gifts for your family, friends, coworkers, pets… What a ridiculous time of the year! Anyway, make sure you are not taking Christmas as an excuse to go on a shopping spree!

And you what is your saving rate? Let me know in the comment section

 

Cheers!