One whole month into 2017 already!  How have your personal finance resolutions been going?  Nothing too exciting this month, markets are pretty flat.  Something else is exciting happening in my husband and I’s life and it will be a life and game changer!

My personal finance goal for 2017 is to reach $475,000 by 2018, and I have about $20,300 left to go for the rest of the year.

I just redeemed $300 from my MBNA credit card and I think I’ll “put it towards” my flight/trip to Iceland, nice to start the year off by rewarding yourself a little bit!  I have over 100,000 Aeroplan points but never seem to be able to get the right dates and times for that free International flight, so they are just sitting there!  I like the flexibility of the MBNA World Points Mastercard because it can be a cash back card and hassle free.  I haven’t decided if I’m picking up/ applying for another credit card yet, as I usually do every year to supplement my MBNA card.

Okay, so here’s the breakdown for February 2017: $454,700 (+$2200)


CASH: $63,200 (+2.4%)

  • Once I deplete the cash in my non-registered account (yes, there is more cash in there) I will start moving this cash into investing accounts.  It is nice to keep it here for an emergency fund anyway.
  • 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: $83,540 (+0.2%)

  • These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.

RRSP: $67,000 (+0.0%)

TFSA: $68,610 (-0.1%)

HOME: $272,000

  • This is the approximate purchase value
  • Am planning to rent it out in two years or sell it.  I think am leaning more towards selling it.

CAR: $15,625 (0.0%)

  • I updated it for 2016-2017 with the Canadian Black Book price, will update it again in July 2017 with the depreciated price


Credit Cards: -$1170

  • I just have my MBNA World Points World master card right now as I cancelled the other cards… I’ll be looking for more cards again with the goal of travel hacking my way to trips.
  • I use 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 $300 for 2017 so far with my MBNA World Points World master card and it went towards my upcoming trip
  • 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 it’s under the liability column so I’ll do the same.

Mortgage: $114,100 (-1.0%)

  • I pay an extra mortgage payment a month
  • I usually put $20,000 annually on top of the extra mortgage payment per month but haven’t decided what I’m going to do this year, I will probably not put in $20,000 so I have more liquidity
  • 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, and would rather not put all my eggs in one basket (e.g. real estate).