$129172 (+ 1.03%)
Another month has gone by, we’re almost into 1/4 of 2011 already! I hope everyone is keeping up with their personal finance resolutions. I usually do my net worth calculation at the same time every month (yes, I actually look FORWARD to this, am I a personal finance geek or what?), but this month it was a little skewed as I was out of town (more on that later this week). I think I might be a few days off from when I usually do my calculation. I still haven’t got to including my pension back into the net worth calculations, though.
I also delayed posting this because I was hesitant to include so much information for the world to see. I hope it benefits you in some way, you can try and learn from my mistakes (and victories, hopefully)…
Okay, so here’s the breakdown for February:
- I added up my chequing and savings accounts (High Interest Savings Account). I automatically deduct money from my chequing account and have it siphoned to the HISA account (paying yourself first)
Now please hold your horses, I haven’t lost 19% of my investment portfolio (not repeating another 2008 here, lol). What I did this month is move some of my money into the TFSA (since I almost depleted it late last year). I plan to take my tax refund (hopefully it’s juicy) and put it into the TFSA too.
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts. I added up USD and CAD stocks as “Canadian” money to be simplistic (which is about a 0% difference right now)
RRSP: $8700 (+1.04%)
- This includes the monthly contribution into my TD E-Series account (primarily bonds), a GIC in my ING Direct Account and my new Questrade RRSP account.
- I have maxed out my contribution for the 2010 tax year, and am planning to take my refund at sock it in a TFSA (two birds with one stone, anyone?)
OTHER INVESTMENTS: $3347 (-3.3%)
- If you’re wondering what I hold in my Other investments- check out my post long story
- I have some investments that were poor choices (I signed up for them before I became self “edumacated”) that are losing money big time. In order to receive a tax credit, I got persuaded into buying some flow through shares, Venture investments that gave out a tax credit, and some more mutual funds about four or five years ago.
- This lonely mutual fund hasn’t been moving much, unlike the rest of the market. Once I hit January 1, 2012 I’m going to take my money back and run 😉
TFSA: $5607 (+947%)
- I sold about $5000 worth of equities in my nonregistered account and put it into my TFSA. I haven’t bought anything with my new TFSA money yet, though I plan to this month.
- When I get my tax refund, I plan to put it into either the TFSA or back into the RRSP (for the 2011 tax year): I’m all for double dipping!
- For my 2010 TFSA, I signed up for a Tax Free Trading Account with Questrade
- Last month, I sold most of my TFSA income trusts (all but two- which are being converted) and kept about $500 in the TFSA account as Questrade requires you to have a minimum of $200 in the account.
- I plan to put $15000 $10,000 back in (slowly throughout the year, of course…) to avoid the penalty from our good friends at the Canada Revenue Agency.
- My car is 11 years old and still running well. Boyfriend has been pressuring me to get a new car (is it a guy thing?) but I like my 11 year old car.
PRINCIPLE RESIDENCE: $387,500
Mortgage Debt: $307954 (-0.3%)
- Before anyone goes ballistic on me for taking on such a large mortgage debt (which I know you might anyway! ) we are planning to rent the out the basement out after the renovations to help with the mortgage. This will be on top of the full amount that we pay accelerated biweekly.
- I’m excited to tackle this mortgage beast and pay down my debt- might be a new focus on youngandthrifty.ca!
Credit Card: $1383
- I pay off my full amount every month (and folks, it’s VERY important you do so otherwise you’re losing out on a 19% return!) but include it in my net worth update so I have an accurate picture of my actual net worth. I sort of think “If I were to sell everything right now, what would my net worth be?”
- I basically charge everything to my card to reap the benefits (free flights and hotel stays here I come!)
- I got the SPG AMEX card for a few months already and have been using it as often as I can (compared to the MBNA travel elite card) but American Express isn’t accepted everywhere here in Canada…which is a hassle.
- BF and I got the Royal Bank Avion Infinite Card as our joint credit card (free for one year since we have a mortgage with RBC! So will be using it and letting you how I like it- I would of course not pay $170 a year for this, but since it’s free for one year, why not?)