December 2015 Networth Update: $381025 (+0.6%)

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Okay, I'll take it!  Not a big gain this month but better than the negative territory.  I spent very little this month, probably the least amount for the whole year, according to my Mint.com app anyway.  I realize that I don't really spend very much on a day to day basis but my spending comes from a lot on travel (again, maximum of $5000 annually I have allotted myself) or the big ticket items, like insurance, or veterinary bills, etc.  With only one more month left I have $3970 remaining until the deadline for the net worth goal of $385,000 by year end.

If the markets were manic and happy I would have done better this month.  Let's hope the markets are manic for for next months' update which will be the last update/ judgment update for my net worth goal.

I have 30 more days.  The pressure is on!  Well, if I don't make the net worth goal, at least it's reassurance to know that I'm close to the ballpark area and I think I'll still give myself a pat on the back even if I don't make the cut.

“Shoot for the moon, even if you miss, you'll land among the stars”- Norman Vincent Peale

Okay, so here’s the breakdown for December 2015: $381,025 (+0.6%, +$2500)

ASSETS:

CASH: $45, 210 (+8.7%)

Net Worth Update

  • I have at least 6 months of living expenses and then some, so should start moving money into my investments regularly
  • 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: $87,680(-1.6%)

  • Again, two words: darned ZPR.  Darned is not the appropriate word but this is a PC-website
  • My greedy self got the best of me when I wanted the preferred shares for monthly income rather than focusing on growth
  • These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.

RRSP: $59,700 (+1.4%)

TFSA: $48,700 (-1.6 %)

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

LIABILITIES:

Credit Cards: $1107

  • I have a few credit cards 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 $220 for 2016 so far with my MBNA World Points World 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: $147, 800 (-0.6%)

  • 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.
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Young is a writer and former owner of Young and Thrifty and the main "twitter' behind Young and Thrifty's twitter account. She lives in Vancouver, BC and enjoys long walks on the beach, spending time with her anxious dog, and finding good deals. If you like what you read, consider signing up for email updates.

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