Our Net Worth | Setting Goals

How Money Depression Changed My Life: Net Worth Oct 2021 (+3.29%)

Not having money made me depressed, and that’s how it all began for me.

No money no job depressed me to the point I thought something was wrong with me.

Imagine moving to a new country with a suitcase and ten boxes of your life somewhere on a ship.

Money depression is real, and it’s not just for people who have a slim to an empty bank account.

Whether you were born into money, have money or are struggling, you can be depressed over money.

Opening up about my depression is not easy but I think more Canadians need to hear something positive rather than negative especially during this pandemic.

Today, I want to discuss how money depression changed my goals into a million-dollar, debt-free lifestyle.

Money Depression and our October 2021 Net Worth Update
Money Depression and our October 2021 Net Worth Update

Money Becomes An Adult Gig For Life

At some point in our lives, money became a reality, likely when we realized its importance.

My mum and dad always told me that I’d have to support myself or my family one day.

So, I got a paper route and saved my money, which helped me buy my first car.

Then it was time for me to get a big boy job and go to University, and I was scared.

I didn’t want to fail, and I knew there would be much competition once I graduated.

For the record, I can look back now and say I hated what I studied in University.

I’m not working in any computer field, and why I selected Sara to help me with this blog.

If you hate your career, no amount of money will make it better for you. NONE.

I worked every day, including holidays, in the UK after graduation to buy my first flat.

You probably have read the story of how I sold the flat, bought a house and sold it to move to Canada.

Unfortunately, the equity from the sale is not enough to retire on, let alone keep us financially stable in Canada.

Living The Exchange Rate Dream

Although I was with my Canadian wife, it was hard to imagine life in Canada.

Until you finally start living on Canadian soil, do you realize you need to learn so much?

Coming to Canada on a four-month visa prepared me, but I lived the exchange rate dream.

My wife told me that would disappear once I started to earn Canadian dollars, and she was right.

The good part was that I transferred my UK money while the exchange rate was decent.

As the rates were decreasing, I had to call to transfer it or risk losing more money.

Talk about money, depression, and stress all at once, but it worked out.

1 pound = $1.62 Canadian Dollars

During my visit, the rate was one pound = $2.50 Canadian, and I was over the moon.

It’s so easy to go from money happiness to money depression, and that’s how it started.

Money Depression Takes You Prisoner

I went on a job interview in downtown Toronto that seemed promising with my skills.

When I spoke with Human Resources, she booked me for an interview right away.

The job had something to do with managing a year-round Christmas project.

The first thing we did was buy me some clothes since I didn’t have everything yet.

It would take 2-4 weeks for the container to be removed off the ship and transported to me.

As I printed my resume to bring with me and dressed like I was the president of a company, off, I went.

People Who Always Smile But Are Unhappy

Although I was smiling, money, depression was eating away at me because I needed a job.

I wasn’t worried about a career. All I wanted was a job to earn money.

Once I had an income, it would have been easier for me to create a career path.

After learning my way through the transportation system in Toronto, I finally found the building.

I checked in with Human Resources, and a lady came out to take me into an interview room.

I’m not going to lie, but I was scared shitless. Guess what? That all changed quickly when she looked over my resume.

Without an introduction, she looks at me and says, oh, you have no Canadian experience.

I see you just moved here from the United Kingdom, and although my resume was impressive, I needed Canadian experience.

She said perhaps going to an employment agency and looking for jobs that would accept new immigrants might help.

I’m a cool guy who said thanks and walked out, and I’m not sure if I wanted to cry or eat a chocolate bar.

I had no idea that I would be welcomed and treated like that when applying for a job.

Don’t they read resumes before they offer you an interview?

The lack of professionalism blew my mind during that entire interview.

Depression and Spending Money

When I arrived back home to my wife, I told her what had happened.

She knew right away from the look on my face that things did not go well, so I told her what had happened.

It took a while, years, really, but I realized there was no reason to be depressed over money.

Even in the UK, I would hardly spend money as I was scared that I’d run out or something would happen.

Although both my parents taught me about finance, they couldn’t teach me or show me feelings.

For example, if I lost my job or was fired or struggled to find a job with growth potential.

All the feelings we get come from us, and I learned how to take back the power.

I didn’t want to be depressed over money because I knew I had the drive to make something of myself.

Back To Square One

To become the person I wanted to b,e I needed to return to school in Canada, so I did.

After six months in school which was fully paid for by me, I was working full-time in my field of study.

I stayed with the company for ten years, even while I finished getting my degree.

The company probably doesn’t know it, but they saved me, and I saved myself.

Money depression makes you think of all sorts of bad things, but I fought it and won.

Take Money Depression Seriously And Lists

I remember writing down everything I wanted to accomplish short-term in Canada.

Lists really do work, so if you’re suffering as I would, try making a list of goals.

There was also a promise I made to myself that I’d get out of the house and smell the roses.

For me, that meant to stop thinking about money and depression and focus on my relationship.

It turns out I’m depressed but don’t know why and yes, I still take medications.

My wife finds that odd why I don’t know why I’m depressed, but I am sure of a few things.

  • I love myself
  • Life is great and doesn’t revolve around money
  • My family comes first
  • I enjoy blogging and helping others
  • Being outdoors is a gift as is opening my eyes every morning
  • Living a simple life is all we need

If you feel too depressed to work but need money, get some help or talk to your doctor.

That’s what I did, and my life is so different, and after moving here in 2007, I’m working my dream job.

We may not have a big house, but we have big dreams, and it involves being healthy, happy and together.

Smiling Is One Of My Favourite Things To Do

When I smile now, I really am smiling, and I love my career, family life, blog and being debt-free.

Everything I ever wanted was about motivating myself and getting out there.

I made many mistakes and still do, but I don’t care because they are learning experiences.

For anyone who suffers from money depression, especially graduates, don’t let it get you down.

My university degree is collecting dust while earning more money than I ever would have if I had used it.

No one says you have to be what you graduated from and don’t let money get the best of you.

Find ways to save money, work extra hours and rent a room instead of an apartment.

But most of all, find out who you are. Do you know who you are?

Discussion: Have you ever suffered from money depression and found a way out?

Would you mind sharing in the comments below what you did to break free finally?

Thanks for reading,


Below is our October 2021 Net Worth update and something I had NEVER imagined.

Why Calculate Your Net Worth?

Understanding your net worth will help you determine if you are on track meeting or beating your personal financial goals.

Canadian Budget Binder Net Worth 12 Months
Canadian Budget Binder Net Worth 12 Months

Net Worth Increases And Decreases

The chart above reflects our net worth increases and decreases throughout 2021.

As you can see, it has been a steady incline until April where it dipped because of the markets.

That was quickly corrected in May, June, July, August, with a dip in September.

With the 2021 increase in housing prices, our net worth would increase by approximately $1 million if we sold our house.

Should You Add Your Home Into Net Worth?

We bought our home for $265,000 in 2009 and have done one increase to $345,000 for our net worth.

I stopped there because I was questioning whether it made sense to add it to our net worth.

Housing is relevant unless you are downsizing into cheaper accommodations.

Moving into an apartment, condo, or a cheaper home in a smaller city would increase our net worth somewhat accurately.

For example, our neighbour sold her home and bought a new one along Lambton Shores for $200,000.

Had she sold the house for near one million dollars, she would have had a nice bit of money in her pocket.

Often we look at the big picture and then remove the house, so we see more of an accurate number.

Net Worth Is What You Own Minus What You Owe

Do you know how to calculate your Net Worth?

Net Worth adds up your assets (what you own) and then removes your liabilities (what you owe), giving you a net worth number.

We like to calculate our net worth every month to know if we are still on track.

Some people calculate it yearly or quarterly, but it’s up to you and how informed you want to stay.

Net Worth is only an estimate, and not everyone uses the same type of figures to tally it up.

Determining Net Worth

How to Determine Net Worth?

Net Worth = Assets – Liabilities

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

Financial Goals

When budgeting, anything is possible; we prove that we still have a long way to go in our journey.

These are our numbers and goals, not a means of comparing your plans to others’ target goals.

We don’t care how much money others earn or if they have a high net worth or lower than ours as it’s not a competition.

I hope our experiences will help guide you along your financial path, working towards debt freedom.

Not Everyone Follows The Same Path

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, but you can’t let that stop you from achieving your financial goals.

You may have been gifted trust funds, paid-for homes, educations, or other perks that give you a financial kick-start, and that’s OK too.

Net Worth Losses And Gains

Net Worth Losses and Gains for October 2021
Net Worth Losses and Gains for October 2021

Hi CBB Friends,

As you can see, we had quite a large jump in our net worth, which is the opposite of last month.

The interesting part about net worth calculations is that they do go up and down daily.

We’ve been talking about investing another $50,000 but are on the fence with what to do.

So, my question to those of you who are investors or financial advisors would you invest $50,000 right now?

I’m only interested in your feedback, and I won’t be taking the money to the bank with your answers.

I think it’s phenomenal how so many people who invest have different views about how their money makes money.



Earn It, Save It, Invest It, Build It

Remember what I said, “It’s not about how much money you make; it’s how you save it.”

People accumulate wealth because they know how to save or invest the money they have.

The most negligible improvements should mean significant strides in working towards reaching your goals.

Sometimes we have to fail to learn, and we’ve all been there.

Money can be evil for some people, especially those who negatively affect their financial situation.

Be optimistic, and little by little with determination, you too should see improvements.

Canadian Budget Binder Net Worth Updates 2021

Click the links below to read our net worth updates for the year 2021.

That’s all for this month’s net worth update, but please check in December to see how we made out in November 2021 with our financial portfolio.


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One Comment

  1. Short answer…I was more suppressed than depressed.
    I decided to take the reigns and be more conscious of my choices, and to influence the trajectory or our finances.
    There was a lot of self-blame, difficult discussions, and finally resolve.
    At the worst of times, we were both newly unemployed with 2 kids under 3. New house to boot. Back in the day of six weeks of waiting for EI.
    Then came a long period of just not tracking or measuring. Which means frivolous spending, and not many gains.
    Finally I feel more confident (still, cautiously so) when I see the results of self-restraint.
    Still worrying, of course, but now I have more vision and goals.
    Everything has a season.

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