All in Net Worth

Time for My Monthly Net Worth Check-In

Time for My Monthly Net Worth Check-In

Ruth
ETFs, Personal Finance, PocketSmith, Sharesight, Net Worth

Wednesday marked the beginning of a new month. The first day of any new month is the day that, from a personal finance perspective, energises me the most because it is when I update our net worth and get a snapshot in time of how Jonny and I are financially progressing. Are we growing more prosperous or poorer? When I’m asked for a sound bite one-liner/single comment about ‘taking control of your money’, encouraging others to track their net worth is my go-to reply. Without a doubt, it is the most effective tool for understanding whether you are going backwards or forwards financially. It only takes a couple of minutes each month, but hands down, it's the most simplistic yet effective way of showing us how far we have come and where we might be headed. Additionally, since I’m relatively open about our finances, I thought you might be interested in seeing our progress over the last month.

Life Update: Cost of Living

Life Update: Cost of Living

Ruth
Net Worth, Personal Finance, PocketSmith, Hnry, ETFs

Is life really more expensive for my whānau of three at the moment? I honestly wasn’t 100% sure. So, I decided to find out - in detail. Why? Economically speaking, it feels incredibly gloomy at the moment. It would be easy to fall into that mindset, which, as an optimist, I am loath to do. So, the best option is to find some facts. Managing personal finances is a delicate art of pulling various income and spending levers, and I wondered if all that I’m doing is working. To calculate what our life currently costs, I pulled up two full years of spending and earning data and compared them; the results were interesting.

What 220 Kiwi Net Worth Millionaires Told Us

What 220 Kiwi Net Worth Millionaires Told Us

Ruth
ETFs, Index Funds, Investment, Money Education, Net Worth, Saving, Shares

Reaching a net worth of $1,000,000 is no small feat, it takes time, discipline, and a whole lot of intentional decision-making. I’ve been lucky enough to hear from over 220 Kiwis who’ve done just that, and they generously shared how they got there by filling out my Net Worth Millionaire Questionnaire. In this blog post, I used AI to analyse all of the responses, giving me a summary and highlighting the repeated themes across all submissions for each questionnaire question. The result? A fascinating look at how everyday New Zealanders are quietly building wealth. The beauty of becoming a millionaire is that, as you will see, there are many paths that lead to it. So, pick your own path, and enjoy the journey. Whether you’re just getting started or already on your way, I reckon you’ll find a few golden nuggets in what they had to say.

I quit my job!

I quit my job!

Ruth
ETFs, Hnry, Investment, KiwiSaver, PocketSmith, SmartShares, Smart Invest, Smart, Budgeting, Net Worth

In a recent blog post, I rebalanced our investment portfolio; this time, I’m rebalancing my life. I resigned from my PAYE job. I’m another step closer to early retirement, and I’m VERY excited about it! I always looked forward to working on Wednesday and Thursday each week, and deciding to leave a job I enjoy, plus giving up $20,000 a year, has been challenging. 

Part 6: INVESTING - Financial Independence Series

Part 6: INVESTING - Financial Independence Series

Ruth
Budgeting, Debt, FI Series, KiwiSaver, Investment, Net Worth, Index Funds, ETFs

Congratulations, you have made it to the final blog post in this series of six: INVESTING. Investing can be incredibly complex, but I found a way to simplify it. I used to feel overwhelmed by the options available, but now I don't. I’m hoping to help you feel the same way. But still, this is one of the most challenging blog posts I have EVER written. Condensing “investing” into a single document is no easy feat. The Happy Saver was born out of my search for information about what I could invest our money in. It took me years to arrive at our current strategy, which combines KiwiSaver and ETF investments. Ultimately, I finally found THE perfect information, which I want to share today. 

Part 5: DEBT FREE - Financial Independence Series

Part 5: DEBT FREE - Financial Independence Series

Ruth
Budgeting, Debt, FI Series, KiwiSaver, Investment, Net Worth

I think of debt as a phase of life I moved through. That period has passed, and I’ve moved on. Jonny and I have now been entirely debt-free since our early 30s, and I encourage you to head down the debt-free path as well. Debt has always had an ‘ick’ factor for me, a feeling I am grateful for. I like earning interest, but I hate paying it. Despite our bank trying to lure us back into debt to buy a rental property, there has never been a day that I/we regretted becoming permanently debt-free. We never have to seek the bank's opinion about our financial decisions again.

Part 4: KIWISAVER - Financial Independence Series

Part 4: KIWISAVER - Financial Independence Series

Ruth
FI Series, Budgeting, Debt, Emergency Fund, KiwiSaver, Net Worth

The fourth part of this six-part series is one of the easier topics to cover, KiwiSaver. Joining KiwiSaver is a no-brainer, and it still surprises me when I meet people who are not in it. I’m always looking ahead and doing my best to determine what I might need money for and how much I might need. I keep my ear to the ground about how affordable retirement is for New Zealanders. I talk to people over 65 and ask them what advice they would give me about financially preparing for retirement. Then I ask myself if, on my current trajectory, I’m heading in the right direction.

Part 3: EMERGENCY FUND - Financial Independence Series

Part 3: EMERGENCY FUND - Financial Independence Series

Ruth
Budgeting, Debt, Emergency Fund, FI Series, Investment, KiwiSaver, Net Worth

The best thing I ever did was set some cash into a bank account, which we could instantly access in a financial emergency. It is an amount of money set aside in a specific bank account to be used for bailing myself out if something happens that I didn’t otherwise plan for but I need money to pay for. It takes me less than one minute to log into my banking and move money from my emergency account to my spending account. 

Part 2: BUDGET - Financial Independence Series

Part 2: BUDGET - Financial Independence Series

Ruth
Budgeting, FI Series, Net Worth, Debt, Emergency Fund, Investment, KiwiSaver

Budgeting is simply making a plan for your pūtea (money). Although I meet hundreds of people who are keen, motivated and willing to do better with their money, I meet few who are “Oh yay, let’s track our spending and earning each month”. I know. I understand your reluctance, but if you want to grow your wealth, you must do what wealthy people do. And they know how much they earn and spend. So, I’m sorry, there are no shortcuts here; you’ve just got to suck it up and budget anyway. Most will come to enjoy it as I do, simply because it gives me a feeling of control over my life and removes any anxiety around my pūtea. But for some of you, it will always be a chore. So be it! Do it anyway.

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