$167,600 (+2.7%)

I think I am pretty close to breaking the $200K net worth by next month’s update (if I include my own pension contribution amount which is approx $30K).  The only problem with this is that I plan to buy an iPad on Boxing Day so that will definitely set me back a pretty penny.  On the upside, I managed to not splurge on a big trip this month (have to justify spending money on an iPad somehow).

I would love your opinion- would you recommend the iPad2 or the Retina Display?  I’m planning to get the iPad with 3G internet functionality on it.  I’m planning to use the $400 on my MBNA credit card (yes, forgoing spending this money on travel *gasp*) towards the iPad.

Okay, so here’s the breakdown for December 2012:


CASH: 19,260 (+15.9%)

  • More money Pictures, Images and Photos

  • Cash is higher this month because I got a small scholarship
  •  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 $3900 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.
  • My goal is to save $5000 in my emergency fund by the end of the year.  I have $3600 in here so far.

Non-Registered: $1898 (-0.01%)

  • 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: $20997 (-0.09%)

  • 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: $25,770 (+1.7%)


  • I am not counting this in my net worth, because it’s 12 years old.
  • I have started a separate ING bank account for a future car

PRINCIPLE RESIDENCE: $387,500 (0.0%)


Mortgage Debt: $287,230 (-0.33%)

  • Our basement suite is rented out so this takes the sting out of me going to school and dropping my income.

Credit Cards: $550

  • With my MBNA World Points World mastercard, I already almost have another $400 worth in points since redeeming the points in February. Gotta love my credit card.
  • 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.

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