July 2015 Net Worth update: $365750 (+0.7%)

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Yay, positive again!  Though it really should have been much more positive, but it was just a ‘medium' positive no thanks to the downward stock markets.  Mr. Market is obviously kind of grumpy and moody these days, whereas Mr. Real Estate Market in Vancouver is high on a kite somewhere in la-la land.

This gain is not bad considering I was on vacation for half the month and had to pay my car insurance and home insurance.  I think I am on track to reach my net worth goal, but really just barely.  It's definitely very marginal.

As some of you following may know, my goal is to have a net worth of $385,000 by 2016 or $400,000 including my pension. I am over the $400K net worth with my pension contributions and and have under $20,000 to go if I do not include my pension.

Okay, so here’s the breakdown for July 2015 (+$2523, +0.7%)

ASSETS:

CASH: $30,285 (+19%)

Net Worth Update

  • I think I have about 6 months of living expenses and then some, so should start moving money into my investments regularly
  • A lot of the gain this month is from the tax return I received
  • 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: $93,430 (-1.7%)

  • My ZPR is down about $2400 in unrealized losses- I should sell some of these preferred shares soon
  • These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.

RRSP: $56,630 (-0.6%)

TFSA: $50,820 (-2 %)

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 (haha…right?)

CAR: $16,665

  • I updated it for 2015-2016 with the Canadian Black Book price, will update it again July 2016
  • I bought a car (so painful to part with money but am really enjoying the fuel economy and hatchback-ness)

LIABILITIES:

Credit Cards: $977

  • 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 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: $153,100 (-0.7%)

  • 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.
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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.

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