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Yippee!  In the positive territory this month again.

Hopefully I will break $400K in a few months time at this rate.  My goal for the end of 2016 as one of my personal finance resolutions is to reach $420,000 in net worth.  Hopefully I will be able to make it, but with a wedding to jointly pay for, I think it will be tight!  So far, I have spent $350 for my wedding and I will update you with what the budget is looking like in the next few posts.

Major purchases this month includes airfare for our honeymoon.  We were initially think of going to Europe, and then we decided on Maldives, and then we couldn’t fathom paying $400+ a night and +$300 per person for transfer to the atoll that the resort is on during the monsoon season, even though the Maldives is on my bucket list.  Maybe I will fulfill this bucket list when I retire!  Now we are going to South East Asia for our honeymoon.

Okay, so here’s the breakdown for April 2016: $391,080 (+$3800)

In This Article:


CASH: $52,715 (+4.7%)

  • I need to make a big annual payment on my mortgage so the amount in cash should decrease next month
  • I have at least 6 months of living expenses and then some, so should start moving money into my investments regularly– I really need to start doing this, I have a lot of cash on hand.
  • 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)

Non-Registered: $80,280 (+1.4%)

  • I still have a lot of cash in my non-registered account hence the poor performance
  • These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.Net Worth Update

RRSP: $60,160 (+0.2%)

TFSA: $55,560 (+2.3%)

HOME: $272,000

  • My plan is to live in this for 1-2 year and then rent it out once I find my prince charming (found him!)

CAR: $16,665

  • I updated it for 2015-2016 with the Canadian Black Book price, will update it again July 2016 with the depreciated price


Credit Cards: $2056

  • This month I paid for a flight to South East Asia (we are going for our honeymoon)
  • I signed up for the Chase Marriott Visa and also have an American Express Gold Rewards Card again, with the goal of travel hacking my way to trips.
  • I use Mint.com account but I only added my credit card (this is helping a bunch so that I can keep track of my spending)
  • I’ve redeemed $0 for 2016 so far with my MBNA Rewards World Elite® Mastercard®
  • 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.

Mortgage: $144, 240 (-0.5%)

  • I pay an extra mortgage payment a month
  • My intent is to rent it out in a little while (see above). In order to offset future rental income, I chose to acquire a mortgage instead of paying for the majority of the condo.

Article comments

Liquid says:

Great job on the positive net worth, Young. 🙂 Do you plan to combine your finances with your significant other’s in the future?

Young says:

@Liquid- Thanks! Yes I think that’s in a post coming up. We have already started combining it and have a joint account set up.