January 2012 Net Worth Update (+1.2%)


$140, 936 (+1.2%)

Let see, what happened this month?  Since its January, we have probably mostly survived the aftermath of Christmas shopping (total spent about $400 on gifts) and Boxing Day shopping (I spent $70 on some boots and went to the States on New Year's Day for some “After Christmas Sales”- bought some great work wedges at Aldo for $38).

Retire by 40 suggested I talk about my total 2011 increase in net worth (which is a fantastic idea).  Looking at my old posts, I have increased my net worth this year by $14, 961, which is about a 11.8% increase from January 2011.  Ideally, I would have liked to have saved more than $20,000 but I guess I can shoot for this target when I finish school.

Okay, so here’s the breakdown for this month:

ASSETS:

CASH: $11615 (-5.2%)

  • More money Pictures, Images and Photos

    Boyfriend and I have a joint account which our mortgage is deducted from, and our own personal accounts. I taught him the magic of the email transfer, so hopefully it won't be so much effort to nag him to put money into our joint account!

  • 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 $2600 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, 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: $9798 (-26.5%)

  • 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 moved my FTS.TO shares in-kind to my TFSA account (and that's why you see the huge dip).  I have 100 shares in FTS.TO worth about $3300 or so.
  • 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: $11,998 (-0.01%)

  • 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've maxed out my RRSP for 2011. 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!

OTHER INVESTMENTS: $2700

  • If you’re wondering what I hold in my Other investments- check out my post long story
  • I have some investments that were poor choices (I signed up for them before I became self “edumacated”) that were losing money big time. In order to receive a tax credit, I got persuaded into buying some flow through shares, Venture investments that gave out a tax credit, and some more mutual funds about four or five years ago.
  • I have to contact the mutual fund dragon lady to take this money out.

TFSA: $16732 (+48%)

  • I moved FTS.TO into my TFSA to max out my contribution room for 2011.  I also put in some money into the TFSA to buy HSE.TO.  I was lusty for Husky and bought it a few days ago.  It has an annual yield of 4.8% (how can I say no to that dividend??)
  • Watch out for TFSA over contributions, guys, the CRA will get you for every last penny.
  • I have yet to see a “dripped” EIF stock in my account (hello, Questrade if you are reading, where is it?). It has climbed back up nicely though from its low.  I will do a post on DRIPs soon, I promise!
  • I signed up for a Tax Free Trading Account with Questrade in 2009 and haven't looked back!

CAR:

  • I am not counting this in my net worth, because it’s 11 years old.
  • I got a flat tire on Christmas day (I got the gift that keeps on giving) and had to get a new winter tire for $60 (thankfully they were still covered on warranty)

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.
  • Just got our Assessment letter in the mail, and I have concluded that Vancouver wants to collect their taxes to pay for the Riots and the Olympics.  They say my principle residence is worth about $137,000 more than what I bought it fore but I'm going to denounce it as hogwash.

LIABILITIES:

Mortgage Debt: $297910 (-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: $1499

  • 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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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.

30 Comments

  1. Jeff @My Multiple Streams on January 9, 2012 at 10:20 am

    Jealous, mine went down last month 🙁 even with a higher than normal income month. Blame goes to the house



  2. retirebyforty on January 9, 2012 at 1:50 pm

    Great job on the TFSA. Hopefully the stock market will do better in 2012. 🙂



  3. tinysarah on January 9, 2012 at 4:56 pm

    Do you ever want to just jump in a big pile of your assets? I mean, I realize money is dirty and gross and who knows where it has been… but I think someday when my net worth is over 100k I will just have a big money fight.

    No coins of course. That would be cheating.



  4. Leigh on January 9, 2012 at 4:05 pm

    Looking good! You’re doing quite well for not working full-time 😉



  5. Jai Catalano on January 9, 2012 at 4:44 pm

    Not bad. Not bad at all.



  6. Simple Rich Living on January 9, 2012 at 7:23 pm

    Nice!!!



  7. young on January 9, 2012 at 8:36 pm

    @Jeff- Dont’ be jealous 😉 Mine will go down next month for sure. I blame school for this one 😉 and I will blame the upgrade of this blog, but it will be so worth it!



  8. young on January 9, 2012 at 8:38 pm

    @retirebyforty- I hope so too because last year sucked! I still want to put in $3500 and I think I’ll use my tax return (hopefully I get one, HA!) and will sell my Shoppers shares in my non-registered.

    Hey you should just move up here to Canada to live/ retire because now you already know all the RRSP/TFSA lingo we use up here! 😉



  9. young on January 9, 2012 at 8:39 pm

    @Leigh- Yeah, I am amazed each time, but I am sure that next month will be in the negatives (have a trip in Thailand I need to pay for!). We should place bets 😉



  10. young on January 9, 2012 at 8:40 pm

    @Jai- lol thanks Jai! Thanks for visiting too. Hope to see you around some more.



  11. young on January 9, 2012 at 8:40 pm

    @tinysarah- OH MY GOD you just gave me a new fantasy!!! Hahaha that should be on my bucket list one day. Except a lot of my net worth is tied into my down payment etc. so maybe I’ll shoot for a new goal. Over $100K of liquid assets! That will take a while though.



  12. young on January 9, 2012 at 8:42 pm

    @SRL- Thanks! Hopefully it’s the same next month!



  13. Roshawn @ Watson Inc on January 9, 2012 at 8:55 pm

    Rock on! Young. I always love to see the progress. Thanks for going back through the year and calculating this and then breaking it down. I’m sorry to hear about the spare tire. If it makes you feel any better, one mechanic just quoted us a $3000 repair. YUCK!



  14. Miss T @ Prairie Eco-Thrifter on January 10, 2012 at 6:36 am

    Congrats on the increase. I know that 1 or 2% doesn’t seem like much but as long as you are going up that is what matters. This is what I tell myself with our net worth. As long as we are headed in the right direction we are doing well.



  15. femmefrugality on January 10, 2012 at 9:55 am

    Nice!



  16. My Own Advisor on January 10, 2012 at 10:18 am

    You’re trying to follow my lead, aren’t you? HSE in TFSA?! 🙂

    Kidding aside, great stuff. I think HSE is a good buy for the TFSA, same with FTS.

    In another 20 years of dividend increases, you’re gonna have a nice lil’ nest egg in that TFSA.

    Keep rockin’.



  17. John | Married (with Debt) on January 10, 2012 at 12:44 pm

    Nice work! I’m in debt payoff mode so my net worth is slowly climbing. I want to save enough to build a self-sustainable ranch and pursue my own interests. Thanks for sharing.



  18. MoneyAndWealth on January 10, 2012 at 5:12 pm

    Congrats on the 11.8% Y/Y net worth increase. I know a lot of people that went backwards over that same period because of the stock market.



  19. Invest It Wisely on January 10, 2012 at 6:02 pm

    Hey that is not bad at all! Right now we still do transfers via cheque… haha.



  20. Maritimer on January 11, 2012 at 8:33 am

    I was suppose to receive DRIP for Just Energy, and it never happened. I was told by them that the DRIP was on for it. Questrade appears to buy their shares on the open market, so therefore no discount passes on to their clients. Just Energy suspended their DRIP, but since Questrade buys on the open market so why didn’t it DRIP.

    I got the run around. My other DRIPs in QUestrade happened the day after dividend is payed. An example so if Dividend payed on 15th, then it will show up on 16 with the dividend reinvestment. If no DRIP it would show up on the 15. Live help told me it didn’t happen this way. It happens this way for other stocks I dripped. I guess that is why their commissions are so cheap LOL.



  21. young on January 11, 2012 at 9:22 pm

    @Maritimer- Really? I’ve been trying to DRIP EIF and I haven’t seen any action!! I’ve nagged at them 3 times lol. I know, you don’t get the discount that a regular DRIP would get, but I chose to use Questrade just becuase its easier and I can track it more easily.
    HAH I agree that that is why their commissions are $5. You get what you pay for!



  22. young on January 11, 2012 at 9:24 pm

    @Invest it Wisely- Really? I thought you got it organized with the bank to bank transfer?



  23. young on January 11, 2012 at 9:24 pm

    @MoneyAndWealth- thanks for the virtual pat on the back 😉 I’d like for it to be more (cus I’m a greedy little b*otch but I am happy and appreciative that it’s not in the red)



  24. young on January 11, 2012 at 9:25 pm

    @John I Married- Ranch eh! That’s an awesome idea- you should check out Squawk Fox’s blog- she lives on an Organic Cattle ranch/ farm.



  25. young on January 11, 2012 at 9:26 pm

    @My Own Advisor- I put FTS in my TFSA too 😉 Hopefully! As long as FTS is still alive and we’re not all dead in 20 years!



  26. young on January 11, 2012 at 9:28 pm

    @Miss T- Thanks as always for your encouraging and positive perspective 🙂



  27. young on January 11, 2012 at 9:29 pm

    @Roshawn- Thanks Roshawn! UGH $3000 for repair? What do you need repaired? Dang, cars are expensive eh? As long as its a spare tire needed for my car, and I’m not getting a massive spare tire on my waistline that’s hard to get rid of, I’m happy.



  28. Invest It Wisely on January 12, 2012 at 3:55 am

    We do have an automatic transfer in place that we setup in person but for the special ones we still have to do cheques. Last time I looked there was no easy way to do it from the web! :S



  29. Jen @ Master the Art of Saving on January 17, 2012 at 2:27 pm

    That’s still a nice increase in your net worth. 🙂 I didn’t start tracking mine until last May, so I’m not sure how much I increased over a year. I did however gain a few thousand since May. Hopefully this year it will go up substantially.



  30. young on January 18, 2012 at 9:25 pm

    @Jen- It’s really fun tracking. YOu’ll get addicted to it fast!



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