Bought an ipad and am paying the price of Christmas and Boxing Day shopping!
Okay, so here’s the breakdown for January 2013:
CASH: $20,726 (+2.0%)
- I have a joint account which our mortgage is deducted from, and our own personal accounts.
- 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)
- I have $4100 saved up for my goal of climbing Mt Kilimanjaro (highest peak in Africa). I’m automatically deducting $100 a month from my bank account into this travel account.
Non-Registered: $1973 (+0%)
- I transferred some cash from a terrible investment that I sold into my RRSP
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.
RRSP: $22,410 (+4.0%)
- This includes the pre-authorized monthly contribution into my TD E-Series account, a GIC in my ING Direct Account and a Questrade RRSP account.
I am seriously thinking about maxing out my TFSA instead, if I am not able to max out on both (read my TFSA vs RRSP great debate over here) from now on, as I will expect to have defined benefit pension when I retire.
- I’m not including my defined benefit pension
- I owe about $16,000 to myself in my RRSP because I used the Home Buyers Plan for my down payment. I think I’m going to allocate $7000 this year back to the Home Buyers Plan but will decide when I do my taxes.
TFSA: $27,406 (+3.8%)
- I haven’t made any contributions for 2013 yet, but am thinking about it.
- I finally made my first dividend income spreadsheet! Something I’ve been meaning to do for… years but never got around to doing it.
- One of my to do tasks is to track my dividend payments in an excel spreadsheet <—done!
- Watch out for TFSA over contributions, guys, the CRA will get you for every last penny.
- I signed up for a Tax Free Trading Account with Questrade in 2009 and haven’t looked back!
- I am not counting this in my net worth, because it’s 13 years old.
- I have started a separate ING bank account for a future car
PRINCIPLE RESIDENCE: $387,500 (0.0%)
Mortgage Debt: $285, 510 (-0.30%)
- Our basement suite is rented out so this takes the sting out of me going to school and dropping my income.
Credit Cards: $800
- With my MBNA World Points World mastercard, I used up $350 of points towards my iPad purchase
- I’ve used my new Amex Aeroplan card twice so far.
- 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 guess I shouldn’t put it in the liabilities column since i pay it off regularly, BUT in mint.com it’s under the liability column so I’ll do the same.