“My” net worth is really a “we” net worth.
The fiance and I combined finances in October 2016, shortly after we got engaged. If I’m sharing my entire life and future with someone, you bet that includes finances as well!
We’ve been pretty good sticking to our savings goals; though we constantly go over our discretionary fund. For the month of April, I increased it from 600 to 700, and that went well!
NET WORTH: CAD $14, 077 (USD $10419 / 1USD – 1.35CAD)
Retirement ($42, 950): For now, we just contribute 100 biweekly; nothing too crazy since we are still prioritizing purchasing a home first! And starting a family!
Down payment fund ($14, 000): This has been stagnant for about a year now. I consider this an asset since it will be used to finance a home.
Vehicles ($16,000): I don’t usually consider cars an asset but in the past 2 years, I’ve got a car written off twice. Since I’ve had to purchase cars twice; I decided to include it as an asset to balance the new loans I took on.
Cars ($48, 200): Both brand new. And we’re both keeping these cars until they can’t be driven anymore.
Student Loan ($11, 000): For now, we are only paying off the minimum. I plan to pay this off by 2019.
Sinking Funds ($10, 000): These are anything I consider short-term: Travel fund, car fund, wedding fund, tax fund, etc.
Emergency Fund ($9, 000): I don’t consider this an asset because it’ll eventually get spent; though maybe I should? I might use this to pay off the student loan (or at least partially) to save on interest.
The main goal for now is our wedding fund. We have exactly 3 months to save up for the wedding! This is a one-off budget category so I can’t wait to get settled into married life and a more normal budget!