February 2016 Net Worth Update- (-0.2%)

Last Updated on

Well, I am starting off the new year going backwards haha!  Let's hope that this trend of negative net worth updates does not continue and is short lived.

I had a lot of expenses and purchases in January (namely a trip!) and I had to break my shopping ban for the month by purchasing an iPhone charger (my was going on the fritz, I hate when the iPhone chargers do that) otherwise my phone would be dead.  I also threw in a replacement of something that was broken (about $25) that really bothered me (it was my key/ envelope holder on my wall).

The market is still not doing very well of course, but I am continuing to abide by my investment contract by investing on a monthly basis.  Meanwhile real estate in Vancouver especially for detached housing is getting to ridiculous levels.  Ridiculous.  Had I kept (or perhaps bought out my ex's portion) of the house and sold it without capital gains tax, I would be a millionaire by now haha.  A millionaire in my early 30's mainly from real estate!  Isn't that ridiculous?

Okay, so here’s the breakdown for February 2016: $383,060 (-$1100)

ASSETS:

CASH: $50,320 (+6.9%)

  • 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: $78,500(-10%)

  • I moved some money into my RRSP and my TFSA this month from the non-registered account
  • 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.

RRSP: $59,560 (-2.1%)

TFSA: $52,500(+11%)

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: $530

  • 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 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: $145, 950 (-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.
The following two tabs change content below.
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.

1 Comment

  1. Leigh on February 28, 2016 at 9:06 am

    I hear you about real estate…my condo is now worth half a million dollars, which boggles my mind.



Leave a Comment





> >