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)
CASH: $45, 210 (+8.7%)
- 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)
- 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%)
- 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 max out both my TFSA and RRSP (read my TFSA vs RRSP great debate over here)
- I’m not including my defined benefit pension contributions which is >$35,000
- I paid back the Home Buyers Plan for my down payment in 2013.
TFSA: $48,700 (-1.6 %)
- I again bought more HSE, now I have over 350 shares. Oil took a big hit again just before my net worth update.
- Check out my dividend income spreadsheet updated quarterly!
- One of my to do tasks is to track my dividend payments in an excel spreadsheet
- 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!
- My plan is to live in this for 1-2 year and then rent it out once I find my prince charming (found him!)
- I updated it for 2015-2016 with the Canadian Black Book price, will update it again July 2016 with the depreciated price
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 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: $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.