I am doing a happy dance this month because I was getting a bit worried the last two months with my sad net worth updates. I spent very little this month with the big splurge being $200 on base layers (merino wool is pretty amazing, I must say I was hesitant to spend so much on a piece of clothing but it’s been great so far).
The markets have been doing alright and has accounted for a large portion of my increase in net worth this month.
My goal for the end of the year was to break a net worth of $350,000, which is means $8400 by the end of the year. If I include my pension contributions, my net worth goal was $380,000, which means $865 by the end of the year. Of course I will aim for the former net worth goal but I will use the latter one if push comes to shove 🙂 (since it’s easier to achieve).
Okay, so here’s the breakdown for September 2014 ($341, 640): +2.4% +$8000
CASH: $39475 (+11%)
- 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: $105740 (+0.5%)
- Haven’t bought any more stocks yet, but so far things have been doing decently
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.
RRSP: $47030 (+1.7%)
- 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: $42730 (+1.9 %)
- So an $800 gain is much improved from last month’s $10 gain. Phew!
- My TFSA is maxed out for 2014, I had to move money to another account (long story- stay tuned)
- 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: $840
- 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: $181,500 (-0.4%)
- 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.