It’s that time of the month again when I recap my net worth. This month has a moderate 4% increase, but I’m doing preparations to increase that.
This month I took the liberty to dig into my old charts and statistics and I found out that I need to diversify and to be more careful in the future. Looking at my past year data made me discover that I made two mistakes when I went way too much into the negative territory with my wealth.
My first mistake, my blind spot
You ever had to focus hard on something and got blinded about everything around you? This is my case, I focused all my P2P investments in EURO, but my reporting is in US dollars. I got blind and didn’t expect the exchange rate to vary that much and this month I almost ended in a negative area due to that conversion.
I’ll have to diversify even more into US dollars or accept my EURO fate.
Updated my savings rate from the start of 2018
I pulled all my data into one chart, to see how well I did and I found out that I made another mistake going too much into the negative territory in one of the months, a whopping -217%.
Talk about not being organized, I know I bought some furniture back then and I was pretty reckless. The goal should be to have always positive net worth, no matter what and from my charts, you can see that I messed up in two months.
My portfolio distribution
What I’m planning next?
I will stop investing into the P2P this month as I’m looking if there are any buyers interested in my property that I want to sell. In case a buyer is decided to purchase I’ll have to pay down my mortgage and that’s why I plan to be a little more conservative with my current money. My asking price is above the real estate market and that’s why I want to see if I’ll get any offers in my expected range.
This sums up what I’m doing at the moment, I’ll let you know how things turn up!