Tag Archives: net worth

Grow Your Net Worth By $100 Per Day In 2015

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Want to grow your net worth but not sure where to start? I have a bold suggestion for the new year: Grow your net worth by $100/day, for a total of +$36,500, in 2015 It’s a big juicy number. I remember when I didn’t even earn $36K per year, so setting that as a savings goal feels in itself an accomplishment. (Or a sign that I’ve gone mad with greed). I want to extend an invitation to readers to join me in this endeavour in 2015. If the number is too big for your income, please feel free to adjust accordingly — even half the amount, at $50/day, will result in a net worth increase of $18,250 which is nothing to sneeze at. It is important to grow your net worth by whatever number you can. Note: I’m using “net worth” instead of savings, because I understand people have mortgages or other […]

Spending proportionately to your income or your net worth

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In my recent post summarizing my discretionary spending of 2013, I shared the numbers as a percentage of my gross income for that year. Mostly I did it so my spending would look less horrific, but I also did it because it’s a good way to look at your finances. Things don’t cost what they are priced. How much something costs depends on your financial situation. If you really want to put things in the context of whether or not you can “afford” them, consider whatever object your heart desires in context of your net worth or income. Regardless of the price tag of an item, it makes a big difference if spending money on it is an almost negligible dent to your bank account or a huge cut out of your life savings. Think about it: When I spend $200 on concert tickets as a salaried employee earning $75,000, […]

The Logistics of ACTUALLY Increasing Your Net Worth by $25,000 per year on a $50,000 Annual Salary

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This is one of my old paycheques: No, really. I logged into my old employee portal and took a screenshot of a random paystub from last year. I don’t mind sharing this info with you right now because, firstly, I don’t work there anymore, but secondly because the University of Alberta is ultra transparent with salaries so if any of you had ever really wanted to know what I was bringing in when I was working there, you could have simply visited this link and taken a peek. See? This is why nothing is a secret on the internet, it just sometimes takes a little digging. Now the reason I’m sharing one of my paycheques with you — which is something I’ve never, ever, ever done before — is because a lot of commenters and tweeters balked at my 5 Steps To Increase Your Net Worth By $25,000+ Per Year. […]

5 Steps To Increase Your Net Worth By $25,000+ Per Year

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Want to increase your net worth? There’s a few different ways to get there. Below I outline the steps to increase your net worth by over $25,000 per year. What does increasing your net worth by $25,000 mean? It means that every 4 years your wealth will grow by $100,000. Every decade you’re upping your wealth by a quarter of a million dollars. If you’re out of debt, that means you’re banking 100% of this cash. If you’re in your twenties, doing this means you will retire a millionaire. See? Isn’t this cool? Don’t you want to do this? How To Increase Your Net Worth By $25,000 Per Year Step 1. Earn $50,000+ per year. I know this seems obvious, but you’d be surprised how many people think they can “get rich” on tragically small salaries. Saving 30%+ of your income is fantastic — but it won’t increase your net […]

What should your net worth be at 30?

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The title of this blog post is a search engine term that led to my blog. It’s a good question! And one I feel I should attempt to answer in case future googler’s are led here by the same. Except I don’t know what your net worth “should” be at 30. I don’t even know what mine will be, only what I want it to be. Up until this year my personal net-worth goal for 30 was $100,000. Now I’m thinking I should aim a little higher. The challenge in setting net worth goals is that it can depend on more than how much you save or how much debt you pay off. Assets like stocks or houses can fluctuate in value — sometimes in a good way, but also sometimes for the worst. On another note, I’m not sure what net worth you should strive for because I’m generally […]