I spent a ton of money this month! Mainly on my pet. Vet bill, dog food, doggy day care pre-purchase (I bought 10 doggy daycare sessions).
I paid a “double payment” on my mortgage for the first time ever (haha!) it felt nice to do, I should probably do it more often.
The markets have not been doing well, huge drops this month because of that, I guess it’s a good opportunity to buy right now (or soon) isn’t it?
My goal for the end of the year was to break a net worth of $350,000, which is means $10,170 by the end of the year. The goal is waxing and waning- I am hoping that I will be able to achieve this, but I am not 100% confident given the markets recently.
Okay, so here’s the breakdown for October 2014 ($339,830): -0.5% -$1800
- 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 $4800 saved up for my big trip that I hope to do this year.
Non-Registered: $104790 (-0.9%)
- I bought a few stocks this month/ added some positions
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.
RRSP: $46900 (-0.3%)
- Despite contributing more this month to the RRSP, the end result was futile due to the markets
- This includes the pre-authorized monthly contribution into my TD E-Series account, a GIC in my ING Direct Account and a 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 contributions which is >$35,000
- I paid back the Home Buyers Plan for my down payment in 2013.
TFSA: $41, 230 (-0.4 %)
- This month everything was down unfortunately.
- Check out my dividend income spreadsheet!
- One of my to do tasks is to track my dividend payments in an excel spreadsheet
- 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!
- My plan is to live in this for 1-2 year and then rent it out once I find my prince charming (haha…right?)
- I bought a car (so painful to part with money but am really enjoying the fuel economy and hatchback-ness)
- I will update it annually with the Canadian Black Book price in July 2015
- I used a conservative estimate of the car, no CBB price for 2014 models yet
Credit Cards: $1450
- I applied for the CIBC Infinite Visa Aeroplan card and in the goal of travel hacking my way to trips and have been using it for a few months.
- The problem with not having Mint.com is that I can’t see my credit card spending as easily so I ended up resorting back to the 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 $650 already this year with my MBNA Rewards World Elite® Mastercard®
- I’ve used my new Amex Aeroplan card twice so far.
- 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: $180, 570 (-0.6%)
- 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.
- This month, I made my first “double up payment” on my mortgage. It was very easy to set up and there was minimal follow up.