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$141, 500 (+1.0%)
Seriously, I have no idea how this happened again but I managed to squeak by (though barely) in positive territory again. January was brutal and I can see why it is so depressing in January- all the bills to pay!
We still have to pay for our home insurance so I'm sure that will put some sting into my net worth calculations for next month. What really helped this month is that I got $700 cash back from my MBNA credit card (yes, all from a no fee credit card!). I have yet to write up a review post for this credit card, but needless to say, my American Express card is back on the back burner (where it really deserves to be since it's not readily accepted in Canada lol).
Okay, so here’s the breakdown for this month:
CASH: $12, 700 (+9.3%)
Boyfriend and 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 $2700 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. I'm about halfway there. Here's my shameless plug: If you are Canadian and want to help contribute to my hiking fantasy, feel free to sign up for an Tangerine with my orange key: 33530953S1. You’ll get $25 if you start an account with $100, and I will get $25 too.
STOCKS: $10,186 (+1.04%)
- The BCE (Bell) holdings I have are doing nicely (pretty much the only thing doing nicely!) and up 39%. Tempted to sell for profit but will hold on for the dividends.
- I sold my SC.TO (Shoppers Drug Mart) shares just because they really weren't doing anything. I'm moving this money into my TFSA account before next month. It's on my to-do list. This would then leave me with $1500 contribution room for my TFSA.
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts. I added up USD and CAD stocks as “Canadian” money to be simplistic
RRSP: $12,440 (+1.04%)
- This includes the pre-authorized monthly contribution into my TD E-Series account, a GIC in my ING Direct Account and my new 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 didn't do this for my 2011 net worth updates at all purely due to laziness). Contemplating about whether I should put them back into my networth calculations- what do you think?
- I owe about $16,000 to myself in my RRSP because I used the Home Buyers Plan for my down payment. I am paying it back by $200 a month. I should probably step it up since at this rate it will take me 6.5 years to pay myself back into my retirement fund!
TFSA: $17, 493 (+1.05%)
- Most of this portfolio has bounced back nicely, especially my KEG.TO stock- it was down $200 and now up $9 (lol! Don't forget the $20 gift card for Keg Steakhouse they sent me) and still churning out distributions.
- 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 11 years old.
- I am seriously getting some bad luck with this car haha maybe I should stop posting about my expenses on my car here. Anyways, I got a $35 parking ticket (boourns!!). Just in case you didn't know this about me, but I detest ticket officers and tow truck drivers and I can't help hating them.
PRINCIPLE RESIDENCE: $387,500 (0.0%)
- I know this it does not make any sense to divide the principle residence and mortgage debt by 50%, but since I cannot disclose my boyfriend’s financial information, I will do it this way to simplify things. Some of you may not agree to that, and I understand.
- Vancouver is an expensive city to live in, and many people predict that there will be a housing collapse, especially in a place where their is such a disparity between income and housing price. The Vancouver market was actually quite unscathed compared to the depressed housing markets elsewhere, and many people believe it is sorely due for a correction.
Mortgage Debt: $296, 970 (-0.32%)
- It’s an accelerated bi-weekly payment (-4 years from amortization)
- We got tenants for our basement suite. Wahoo! BF and I had a long discussion (well heated discussion lol) about paying off our mortgage faster. We have agreed to pay an extra $100 per payment (hence the extra 0.02% HA). I know it's not much, but it's a start.
Credit Card: $1828
- Um this month's credit card statement was horrid to say the least.
- 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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