Net-worth and debt

My net-worth and debt management – Update April 2020

Recap of 2019

Since the start of my financial journey in August 2018, I have tried different strategies, which had a good yield according to the needs and goals at that particular moment.

In 2019 I was inclined to follow Dave Ramsey’s baby steps, with a small twist – I still invested part of my incomes in my investment portfolio -I had a semi-yearly investment plan which had to reach 35% investment increase every 6 months. I tried to overpay my debt using his debt snowball system, starting from the smallest to the biggest, I also had my emergency fund on autopilot saving every month.

My over-commitment to my goals had its toll – it’s a tough journey! As a result, I had to postpone family visits abroad and to cut a lot of quality time with friends, luckily they are very understanding and creativity comes into place when we plan entertainment on a shoe-string budget.

I recognized also a part of the budgeting which apparently many Dave Ramsey followers take to heart, (in that count me), which I find is very unhealthy “rice and beans, beans and rice”. We cut on healthy food, and replace it with the cheapest one – carbs. So few months down the line, I had to rethink how exactly can I have healthy food and budget for it properly.

2020 strategy

At the beginning of 2020, I changed my investment strategy to a full-blown Dave Ramsey baby steps. I decided a year of investment parallel to my debt repayment was good but now was time to give myself a wiggle room and to have a safe nest + beating down the debt with the highest possible speed.

Little did I know how needed that decision would prove now, that all the world is shaken by uncertainty.

It will come as no surprise that the only step now for me is to hold onto as many resources as possible. Now is the time to be very conservative. If I was for the last two years in order to gain traction in the investment world, now the frugality has a totally different face – we are in uncharted waters. I have the knowledge on how to tie loose ends and stretch a penny and now is the time to use it.

Dave Ramsey himself says in times of crisis, forget about the baby steps – tackle what is basic needs and hold onto the little security you have.

I slew one of my debts at the beginning of 2020 – my car payment. That was a big relief and happened right on time before the Corona Stand Still hit the world.

Without further ado – here is my current net-worth and debt situation

Assets and investments – April 2020

TypeAssets and investmentsAmount
AssetProperty purchase€39,365.00
AssetCar€6,400.00
InvestmentKlear€123.62
InvestmentIuvo€910.07
InvestmentMintos €205.60
InvestmentHousers€553.49
InvestmentEnvestio-pyramid that bankrupted €0.00
Saving planlocal Investment provider€1,224.00
Saving planSaving Term deposit at my bank€550.00
Saving insuranceVienna Insurance group€484.00
Sinking fundRevolut sinking funds Vault€50.00
InvestmentStocks – BG stock exchange€30.75
InvestmentStocks – Revolut€13.49
AssetsTotal€49,910.02

Debt April 2020

TypeDebtamount
LoanCurrent Loan€1,490.00
LoanProperty Loan€30,599.00
DebtTotal€32,089.00

Net-worth April 2020

Networth€17,821.02
Growth since January 2020€2,550.75
Debt paid since January 2020€2,247.00

My journey from the start in a nutshell

assets, debt, net worth

To sum up, I have a very tiny portfolio, but it is a good starting point. The digits here might be laughable for some, relatable for others. I like reading about the journey of people who are way ahead of me. However, I think the sooner one starts sharing his/ her investment and budgeting journey, the more people can relate to the situation and take a step in that direction.

Read about my Iuvo-group experience here
And about my Housers experience here
About my Klear experience here
And you can check my whole portfolio here