Welcome to our October 2021 net worth and financial independence update! In this update, I'm going to be sharing our net worth and financial independence update for the new year. I'll talk about how I calculate our net worth, save money, and how I stay on track with our financial goals.
In this video I chat about:
- a little update about the things that have impacted our budget for the month: which were that primary school expenses have started and we now having monthly dividends coming in each month.
- We bought more BKW which is a diversified investment and this added $620 to our annual passive income.
- This recent stock purchase now means we have dividends coming in each month.
- I share all the balances of our assets and liabilities, including: our home value, mortgage balance, emergency fund, retirement savings and our stock market investments.
- I show you our overall net worth for October which went up $15,047 this month.
- I share our savings and savings rate for October and check that our cost of living is still on track.
- I like to track the interest we pay on our mortgage each month as I just love to see this number going down.
- We are also trying to pay off our mortgage in 5 years time, so I share our mortgage pay off progress too this month.
- I've also started to show you our monthly expenses for the month and what are our highest monthly expenses in our budget. Our highest costs for the month was our childcare, mortgage, childcare, food and then holidays.
- I track our progress to financial independence and explain how we do that.
- I share the dividends that we received this month, these came from index funds which are mostly from Vanguard.
- I show you our progress to FIRE which is financial independence retire early.
Welcome to Family Finance where I chat all things personal finance and in particular family finances, how to save money, investing, budgeting and how to stay on track with your financial goals. Our goal is to build our passive income to reach financial independence, also know as FI.
Other videos you might enjoy ...
SEPT NET WORTH: https://www.youtube.com/watch?v=YzxpRvqAsS0
MONTHLY FOOD SHOP: https://www.youtube.com/watch?v=HugYx88LmkI
DEBT RECYCLING SET-UP: https://www.youtube.com/watch?v=lGW-Tuq9NXU
OUR STOCK PORTFOLIO: https://www.youtube.com/watch?v=lZs-cBQ3Ycs&t=49s
STAGES OF FI: https://www.youtube.com/watch?v=ifT_LzlQaJY
TYPES OF FI: https://www.youtube.com/watch?v=zEQghKk5h_0
Find me on Facebook: https://www.facebook.com/Family-Finance-103181858073913/
Find me on Instagram: https://www.instagram.com/familyfinance_/
MY ETSY SHOP: https://www.etsy.com/au/shop/FamilyFinance
AFFILIATE LINKS
4 Months Free with SHARESIGHT: https://www.sharesight.com/familyfinance
Shop Back: https://app.shopback.com/nkVqgskJ49
Cash Rewards: https://refer.cashrewards.com.au/x/VzrCNY
BOOKS TO READ
Motivated Money: https://amzn.to/2R1YJcz
The Simple Path to Wealth: https://amzn.to/327vpYz
Your Money or Your Life: https://amzn.to/3jZm3o3
I Will Teach You To be Rich: https://amzn.to/35gvv2g
The Barefoot Investor: https://amzn.to/336AKP5
Money Made Simple by Noel Whittaker: https://amzn.to/327Elxa
The Index Card: Why Personal Finance Doesn't Have to Be Complicated: https://amzn.to/3tzcsdl
Atomic Habits: https://amzn.to/32cCh7j
The 5am Club: Own Your Morning, Elevate Your Life: https://amzn.to/3h7PZwc
HOW I MAKE MY VIDEOS
I use Keynote to make my slides using images and text for from Canva:
https://www.canva.com/join/rake-gardens-nails
I then record my audio using my blue yeti microphone: https://amzn.to/2ZfJv8A
I then use iMovie to link my audio with the Keynote slides.
Please note: some of these links are affiliate links where I'll earn a small commission if you make a purchase at no additional cost to you.
Disclaimer:
The information on this YouTube channel and the links provided are for entertainment and general information only and should not be taken as constituting professional advice. I am not a financial advisor. The information on this channel is personal to my situation and does not take into account your personal circumstances. You should do your own research and if necessary consider seeking independent financial advice that is related to your unique circumstances.
#networth #financialindependence #familyfinance
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