youngandthrifty January 2014 net worth update: -0.5%

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Oh dear, I think I spent a lot last month even though I did do it yourself gifts for most of my friends.  I guess it was family presents that got the best of me, but seeing my sisters' eyes light up with happiness with their presents was pretty priceless.  I didn't go all out with their presents of course, but spent around $75 for each of their presents.

I also spent $1700 on a last minute trip down to an all-inclusive resort (my first time ever!  I am lucky I didn't turn into an alcoholic, I definitely drank 3-4 drinks per day though hahah).  It was one of my resolutions to in 2014 to spend time with my family and I guess I got a head start.  I'll write a post on it soon 🙂

So, I am trying to control my spending for January because it is getting a bit out of hand!  No more shopping for me in January.  I bought a waterproof running jacket from the Lululemon outlet for $160- definitely a lot of money for a jacket but I guess it's cheaper than a $40-50 monthly membership for a yoga pass!

Okay, so here’s the breakdown for January 2014:

ASSETS:

CASH: $57330 (-1.5%)

  • Net Worth UpdateDown a bit this month because of the movement of money to the RRSP's again- I have reduced it back down to $200 a month contribution
  • 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 next year.

Non-Registered: $102260 (-0.07%)

  • I bought CLF on a limit order but to be honest I got confused about what I was supposed to buy haha.  I think I need to revisit my non-registered plan again.  The notes in my little book I keep aren't making sense.
  • These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.

RRSP: $41,600 (+4.1%)

TFSA: $38,350 (+2.2%)

HOME: $272,000

  • My plan is to live in this for 1-2 years and then rent it out once I find my prince charming (haha…right?)

CAR:

  • I am not counting this in my net worth, because it’s 14 years old.
  • I have started a separate ING bank account for a future car

LIABILITIES:

Credit Cards: $3740

  • 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 over $500 already this year with my MBNA World Points World 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: $185,870 (-0.3%)

  • 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.

6 Comments

  1. Mel @ brokeGIRLrich on January 8, 2014 at 9:40 pm

    Everything about an all-inclusive resort sounds fabulous right now. NY in the winter is not so much fun :oP



  2. Liquid on January 8, 2014 at 10:00 pm

    Sounds like the trip was well worth the cost 🙂 The holiday season did a number on my wallet as well, but it’s nice to splurge a little bit over Christmas since we’ve been saving so diligently most of the year. I broke the $200K net worth barrier not long ago. Maybe I’ll hit $300K by end of 2014 and be closer to catching up to you lol. I hope you got a good rate on your mortgage 😀 My term has to get renewed. Did you go for a fixed or variable?



  3. Leigh on January 9, 2014 at 9:46 pm

    So um, Young? Your net worth is up $152,530 from your January 2013 net worth update. You go girl! I have caught up to you again though – my net worth ended the year at $346,000. Something I love about your net worth though is how well diversified it is. You have more in non-registered accounts than equity in your condo, but you still put at least 20% down. So I think you’re in a great spot. Are you done grad school yet?? When are you going to go back to increasing your net worth every month? 🙂

    I love all-inclusive resorts – such a great vacation! My boyfriend and I are heading to one this winter and it’s going to be awesome 😀



  4. Cassie on January 10, 2014 at 3:49 am

    Little dip or no little dip, it’s still inspiring looking at your month end updates 🙂

    Sadly I know mine is about to take a massive hit this month, so I understand being a little down on negative net worth updates.



  5. Young on January 21, 2014 at 12:26 am

    @Leigh- Ahhh haha we are playing “tag team”. It will be fun to motivate each other! Where are you going on your all inclusive? Yes, I am going to go back to increasing it again, but still have a trip coming up that will stagnate it. I think I need to stop going on trips lol.



  6. Young on January 21, 2014 at 12:27 am

    @Liquid- Fixed! (this time) lol. Congrats! I’m sure you will catch up to me in no time!



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