In terms of overall financial health, your net worth is a great indicator of overall success. To calculate your net worth, add up all of your assets (things that are worth money) and subtract your debts (loans, etc). Each month I share my net worth to help illustrate our financial health.

February is a good example of a normal month. I paid down debt. My investments grew moderately. I spent to my budget. As a result my net worth increased by approximately $1200. It would have been more, but unfortunately our Condo fees increased by 20%  retroactive to January 1st, so we owed a bit of money.

Benchmark Your Net Worth

It’s great to say that my net worth increased by $1200, but what does that mean exactly? Would this be a success if I took home $5000 in income last month? No! Looking at your net worth as a percentage of your income is a great way to benchmark your progress. In my case, an increase in my net worth of $1200 represents approximately 40% of my net income in a month. 40% is now my benchmark; I think I can do better and will set a goal of 50% over the long term.

Here’s a breakdown of my net worth for the month:


Assets Previous Month Current Month Change (%)
Cash $6,311.61 $6,101.60 -3.3%
RRSP $5,865.96 $6,092.45 3.9%
TFSA $1,439.26 $1,553.03 7.9%
Condo $258,0000.00 $258,000.00 0.0%
Personal Assets $500.00
Total Assets $272,116.83

$272,247.08 0.1%


Liabilities Previous Month Current Month Change (%)
Credit Cards $1,075.45 $849.52 -21.0%
Family Loan $14,853.57 $14,853.57 0.0%
Student Loan $5,400.91 $4901.65 -9.3%
Mortgage $238,748.64 $238,356.97 -0.16%
Total Liabilities $260,078.57 $258,961.71 -0.43%

Total Net Worth: $13,285 (+10.4%)

It’s not much, but considering where I was last year, I can’t complain. Check out The Financial Blogger for a look at a net worth with some serious money!