Again there was some mad spending this month. Some things were a trip to the states (love buying wine in Safeway for 60% of the cost here in Canada!), American Express charging me for a new year for the credit card ($60) because I forgot to call and cancel, textbooks, and Ikea ($370 later…).
My goal for the next few months is to continue to grow the net worth instead of watching it be stagnant. I’m going to move some of my cash into ETFs or index investing to increase cash flow. The problem is finding the time to do this lol.
Okay, so here’s the breakdown for June 2013:
CASH: $177,770 (-1.3%)
- 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 $4700 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
Non-Registered: $1672 (-7.3%)
- Ugh I need to do something about these basket of garbage stocks I have LOL. I bought Suncor at is peak and it’s still sitting there. I bought a Potash stock that’s half of its original value. I need to sell it and just start fresh this year. –> as of July 2013 I still have not done this.
- I transferred some cash from a terrible investment that I sold into my RRSP
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.
RRSP: $24240 (-1.3%)
- 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 which is >$30,000
- I owe about
$16,000$12000 to myself in my RRSP because I used the Home Buyers Plan for my down payment. I allocated about $4500 into my home buyers plan for 2012.
TFSA: $35090 (-0.1%)
- My stocks (especially the old timers) aren’t doing that great with the exception of Sunlife which I’m actually up a few hundred dollars in!
- My TFSA is maxed out for 2013.
- 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 years and then rent it out once I find my prince charming (haha…right?).
- I am not counting this in my net worth, because it’s 13 years old.
- I have started a separate ING bank account for a future car (I have my eye on a Prius V cus it’s oh so sexy!)
Credit Cards: $2800
- The problem with not having Mint.com is that I can’t see my credit card spending as easily.
- Credit card spending was crazy again this month! I didn’t want to look at my statement. Haha. Oh well, lots of points 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: $188,980 (-0.3%)
- My intent is to rent it out in a little while. In order to offset future rental income, I chose to acquire a mortgage instead of paying for the majority of the condo.
- It’s like not putting all my eggs into one basket, so to speak.