The fateful moment has arrived! I talked a lot about Net Worth in the previous months and now it’s time to write my first Net Worth Update. I intend to track its progress from today onwards in the years to come.
If you don’t know what I’m talking about, I suggest you to read this article: Shift to a Net Worth Mindset. In that post, I explained the meaning of Net Worth, why it’s so important to track it and how you can track it. I also made available a basic free Excel spreadsheet to accomplish this task.
The initial composition of my Net Worth
In this post, I would like to share the initial composition of my Net Worth. You can check it out in the following pie chart:
At the moment I (fortunately) have only Assets, not Liabilities. I divided them into 11 categories.
The categories are:
- Bank Account #1 – My main bank account
- Bank Account #2 – My second bank account, in which I’m building an emergency fund
- Crypto Wallets – Exodus and Crypto.com
- Online Wallets – Skrill, Paypal, Payeer, PerfectMoney
- Celsius Network
- P2P Lending – Mintos, ViaInvest, FastInvest, Twino, Grupeer, Lenndy, Swaper, Robocash
- Real Estate Crowdfunding – Housers, Envestio, Bulkestate
- HIYPs – DiversityFund, SolidTradeBank, 8bit, BetterBits
I’ll start with this composition. I don’t know if it’s clear enough for you. Let me know in the comments 😀
In any case, in the chart above you can also check the amount of every single category.
And the initial total amount of My Net Worth is:
I’m using a super Excel spreadsheet to track it. Tell me if you want to know more about it 🙂
As I already said many times, I intend to invest a big part of the money that I currently have on the Bank Account #1 in ETFs. I explained my ETF Investment Strategy in a previous article, check it out if you’re interested! I have already sent the first bank transfer to Degiro and I’m waiting for the money on the balance. Then I’ll make my first investment in ETFs. So next month the composition of the pie chart will be different. The next investment in ETFs is scheduled for March/April.
In addition, from now on expect a monthly update of the Net Worth. I’m still thinking about how to write it and when to publish it. For the moment, I think that it will be published about halfway through the month, considering that at the beginning of the month I write the Passive Income Report and the Goals Update.
Finally, I’m also creating a blog page completely dedicated to the Net Worth. On that page, you will have the possibility to check the composition, the values and the progress of my Net Worth over time. I’ll list there every monthly update.
I hope this new kind of post can interest you. I want to add this feature to the blog because tracking the Net Worth is very important. I start to do it publicly and then I’ll see how things evolve.
If you have a suggestion on how to do a better job, feel free to write a comment 🙂
Last thing: if you want to stay always updated on new content, remember to subscribe to the blog!
Have a good day guys!