Our Net Worth

How to become Financially Free in a How To World : March Net Worth Update (+1.46%)

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Remember that movie? Even the relationship industry has poured their hearts out to those in need of motivation for years and making a mint from it. Why? The words How and To can be compared to gold because finding the answers to something you need or want is a relief, a big one.

Becoming financially free was something I wanted from a young age even though I was still learning about what the heck it meant. All I knew is that if you needed something you had to have money to pay for it. I knew that you had to work to make money and that it wasn’t always easy to find a job unless you specialized in something that was needed.

I ask myself, ‘How to’ do something when I don’t understand what I’m doing and Google it. I did lots of that when I was in University and I still do it today for just about anything I need clarification on. Is it all true what we read online? No, so before you rush out to make millions of dollars from licking envelopes be ready to embrace the good, the bad and the ugly of the ‘How To’ online world.

Below are a few of the top finance questions I get asked;

  • How much should my grocery budget be?
  • How to start a budget?
  • How to earn money fast?

All the answers to those questions I’ve written about over the past 5 or so years. Everyone wants to know how to do something. Online entrepreneurs are earning mounds of dollars making sure that the internet is saturated with How to information for the seekers of assistance.

Keep in mind not everything you read in any form of media is the holy grail of the How to industry. There will always be scammers or people stealing from one pot to put into their own.

Are they experts in their field?

Likely not but people will still flock to them to learn how to do something. There’s a difference between a talker and a doer. You want to learn how to do something from someone who offers both with proven on-going results.

Take Mr. ESI an early 50’s retiree who opened up about How To Become Wealthy In One Sentence. He’s right! He’s done it and he’s living proof of it.

Earn, save, and invest as much as you can for as long as you can.– ESI

Would you make a recipe without first looking at the photos and a bit of information about the recipe from the author? Probably, but odds are you’ll have better success with a bit of personalization added to the mix along with photos. This is what people thrive on which also brings them closer to the source.


Money takes time


I’m not talking pocket change rather earned money where you no longer have to feed the wheel. Becoming financially free not only means to be frugal but it also means finding ways to earn a little bit more money most often without much effort. Often we put our faith in someone or something because it’s a last-ditch effort without giving adequate thought to the outcome.

The problem is you can’t get rich on the fly and you certainly won’t learn how to make your millions by reading a “How to” blog post by some random person online. (I didn’t mean me either, I’m legit ha!) I still won’t make you rich, you will. I can talk about everything WE DID to find our riches but that’s about all the financial fairy dust I’ll blow your way. It’s YOU who has to do it.


Passion brings results


Generating a fruitful income takes time, effort, perseverance and a true passion for what you are doing. For example, I could turn this blog into a money-making machine IF I wanted to however I don’t have the time and my first passion is not blogging.

This is not my full-time job nor do I want this to be at this point in my life. If I’m still blogging when I retire then sure I’m up for some spare cash. Some of my blogger friends do earn an outrageous amount of money and are financially free or on their way.

For such bloggers the passion is there, the time is there and the wish to become successful teaching their fans ‘How to” do something is ongoing. The blog is their job. You have to have all of those attributes to become successful online. It’s a game of continuous learning, offering services and understanding your audience.


Sell it fast for easy money


These days I believe that people want the know-how about finance in particular budgeting and how to manage their money. Perhaps this is why I’ve seen such an increase in people working to turn profit fast on used items, found items or free items.

You know the people who are money smart and know they can make a buck from flipping a product. The furniture business is booming online with refurnished wood pieces that have been chalk painted and selling for more than a buck.

Garage sale season starting in April until about October is one of the fastest ways for homeowners to recoup some of the money they spent on stuff they no longer use. You might laugh at the fast cash sales homeowners participate in BUT they know that every dollar counts. That means if you can make a few bucks back on something you’ve already used, then why not?

Weekend garage sales are also a pool of buyers and sellers as mentioned above who are ready to make fast cash. If you think about the ways you can find money in an instant there really aren’t that many ways apart from offering services or cashing in on what you’ve already got.

The easiest is obviously to sell what you own which is what most people start to do when thy are in a financial pinch. Others who want to build their net worth, pay off debt or just earn some fun money will have a side-kick income where they provide expert services. This might even mean washing and folding clothes for families who don’t have time. Yes, this is a legit job that someone is willing to do for money.


Make money offering unique services


If you’re considering earning some fast cash to grow your financial portfolio or you simply just need money then consider the, “How To” industry of society who don’t have the time do something, doesn’t understand how to do something or can’t do something- but needs it done.

  • How to Budget
  • How to make the bed (start a bed making service)
  • How to fold laundry (start an in-home laundry service)
  • How to Spring clean (start a property cleaning service)
  • How to write a resume (start a resume writing service)
  • How to cook (insert cuisine here) Food (start a food cooking class)
  • How to start investing on my own
  • How to make money from photography

You get the picture. Throughout our lives if we just go through the motions of what we believe is expected of us to become financially free then we get no further ahead. When we strive to jump those hurdles to get to the finish line a bit earlier (early retirement) for example then you reap the rewards of your efforts in the end.

Take into account all the ways you could see yourself earning some money by offering services that other people need without heavy competition. Back in the day going door to door offering grass cutting services as a teen may have net some of you fast cash on the weekends.

  • How did you manage that money?
  • Did you spend it, save it or invest it?

The early years are some of the most fruitful times for saving money and investing. Learning about finance from a young age is without a doubt one of the best money lessons you can learn. Create the money mindset and ponder the ways you can take something simple and build your fortune.

You have options when you are in a pinch and need cash but those options are typically short-term money-making schemes that aren’t always sustainable. If you want to take money stress and bury it then you need to realize that any time you opt to only earn money ‘fast’ that most often it’s a no-effort required type of scheme.


Be Financially Free


Keep your eye on the target.

When Mrs. CBB and I ask us how we became financially free from debt so young our answer will always be, we learned to balance short-term and long-term goals. We went without at times and were always working to better ourselves. Any extra money we had went to saving for a house and paying off debt. There were no ifs, ands or buts- we just did it while having frugal fun along the way.

Now that our mortgage is paid off our focus is full-force on retirement and how we can build our future moving forward. For the first time since moving to Canada a million years ago I am going home to see my family and friends with my family.

I couldn’t do this if I didn’t set boundaries and goals when I moved to Canada from the UK. If you think it’s hard growing up in Canada and finding a job it’s even harder for someone who is a new immigrant without Canadian work experience. Keep in mind I speak English but for those that don’t or are learning they have a heavy road ahead of them but not impossible.

How to survive moving to a new country, that will be my next blog post topic. I’ve got lots to say about that but what I’ve learned the most about Canada is that we are no different from any other country. Money is around us to be made so those of you who want to make it get out there with a solid plan and find your fortune. Just don’t be in a rush.

If you read back through this post it’s filled with unanswered questions with plenty of ‘How to’ beginnings. I may not have offered you enough insight on how to become debt free but I have offered you motivation to get out there and do it. That my friends is HOW TO get what you want in life. NO blog post is going to make money for you, you will.

If you want to get ahead in life you have to learn ‘How to’ do something and do it well so you can make money from the people who can’t do it themselves. That’s where the money is. Manage it right and you too will be on your way to becoming financially free in a ‘How To’ world.

Next movie: How to get a guy back in 10 days. Imagine the $$ in that.

Discussion Question: Have you learned how to do something well so that you could offer paid services?


Our Net Worth March 2017


March 2017 Net Worth Losses and Gains

RESP Contribution 2017: $208.33 a month.

This month was certainly nothing out of the ordinary for us. I still have two jobs and not a lot of time to go and spend any money. Most of our money is literally spent on bills and then investing. We don’t have enough time to spend copious amounts of money on flashy items we don’t need.

The available time I do have go towards the family as much as possible although there’s still jobs around the house to do. I have to get the old all season tires replaced as they are at the end of their journey, but I’ll still be looking for a deal though. Just because you’ve started to see an increase in your net worth there’s no need to start going wild with it.

Another good month in our investments means our net worth has increased approximately $25,000 in the last two months.


Understanding Net Worth


What Does Individual Net Worth Mean?

Net Worth is a snap shot of your financial health sort of like a picture or debt to net assets. In simple terms it’s a total of the value of your assets minus your liabilities.

We credit the growth of our net worth due to patience, perseverance, using a monthly budget and not giving up. Your numbers may go up and down but don’t let the numbers scare you rather understand why and move on.

Canadian Budget Binder Budget Spreadsheet

If you would like to use our budget I offer a FREE downloadable budget which I created and that you can use at home just like we do. I don’t charge for it because I want you to save money not spend more!

2014 Free Money Saving Tools

There are tonnes of other free printable lists offered at Canadian Budget Binder to help you achieve some of those financial goals and build your net worth. Now determine just how much net worth you actually have and go from there.

Enjoy and let me know what you think.


Determining net worth


Figuring out net worth is fairly easy as long as you know your personal numbers or monthly finances which means you need to do your homework. Net Worth is simply adding up all your assets (what you own) then taking away your liabilities (what you owe) which will give you a net worth number.

Understanding your net worth will help you determine if you are on track to meeting or beating your personal financial goals. It doesn’t get any easier than that.

How to Determine Net Worth?

Net Worth = Assets – Liabilities


Calculate net worth


Do you know how to calculate your own Net Worth?

Now you can stop asking yourself the question, how do you find out your net worth? Why? It’s easy to determine. We like to calculate our net worth every month so we know if we are still on track. Some people calculate it yearly or quarterly. It’s really up to you and how informed you want to stay when it comes to your financial health.

Net Worth is essentially an estimate and not everyone uses the same type of figures. Some people don’t include vehicles like we do or they may leave out the assets inside the home like we have. It depends on what you want to calculate or what you can sell today and make money on.

Why not go ahead and calculate your own using our Free Money saving Tool Net worth Calculator (Canadian Budget Binder 2012)


Why you should set financial goals


Below is our progression chart towards our goal of a million dollars net worth which should happen according to our net worth calculations by Mid August 2017 (this year).

2016 Progression towards the Million Mark

Setting goals are the only way we work towards achieving what we want to get done as a couple around the house and in our financial life. I know that without them we would be flying by the seat of our pants which wouldn’t work for us.

I find it’s much easier being held accountable when I share what we need to do with all of you. Yes, my wife refers to the list when she asks what I plan to do next. I’m not sure if that’s a good thing for me or not.

In the graphical representation above, I have used excel to provide a trend line prediction based on the past years monthly net worth figures.

Using figures from our actual net worth gains over the past 12 months (the solid blue line) it has suggested that by the end of this year (2016) we should be around $900,000.00. We fell short of this goal by $9000 which is perfectly fine as it was only an estimated goal based on current financial trends. This can change over the course of the year and is only a prediction based on known historical figures from our finances.

According to the chart, we should hit the million mark in or around August to September 2017.

This is nice to know but anything can happen over the next year. Hopefully with some careful planning we can achieve this goal and go beyond it.

Do you set financial goals for the year?


Our financial numbers


March 2017 Preceding 12 Months Net Worth

When budgeting anything is possible, we are proof of that although we still have a long way to go in our journey. These are our numbers and our goals, not a means of comparison towards your own goals to others target goals.

We don’t care how much money others make or if they have a high net worth or if it is lower than ours as it’s not a competition. I hope our experiences perhaps will help guide you along your financial path working towards debt freedom.


Different financial paths


Not everyone has the same path in life. Some of you may have had to start over like I did or go to school a second time and now have OSAP loans to pay back.

Others may have divorced, lost money in the stock market or other investments, suffered job loss, fell ill or injured on the job etc. but you can’t let that stop you from achieving your financial goals.

Some of you may have been given trust funds, paid-for homes, paid educations or perks in life that give you a financial kick-start and that’s OK too. Remember what I said, “It’s not about how much money you make, it’s how you save it”.

Focus on you and don’t let the evil eye of money jealousy or keeping up with the Kardashians cloud your vision. No one cares about your money as much as you do so don’t waste your energy trying.

The only reason people accumulate wealth is because they know how to save or invest it wisely even if they did inherit money or win the lottery. The smallest improvements should mean big strides in working towards reaching your goals.

Sometimes we have to fail in order to learn and we’ve all been there. Money can be an evil force for some people especially those who have a negative attitude towards their own financial situation.

I urge you to be optimistic and little by little with determination you too should see improvements, if you want that to happen.


Net worth updates 2017


Below you can click the links to read previous months net worth updates 2016 to see how we made out following our own financial rules.

In the last year since March 2016 our net worth according to our figure has grown $124,488.43

March 2017 $919,619.17 – March 2016 $795,130.74 = +$124,488.43

That’s all for this months net worth update but please check in at the beginning of April 2017 to see how we made out in March 2017 and what has happened to our finances since.


Remember: “It’s Not About How Much Money You Make It’s How You Save It

Check out our 2012-2017>> Monthly Budget Updates











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