Some changes this month 🙂 The reason for the drop is paying for my car insurance and closing costs (eep.. yes!). I chose to buy and not rent just because there aren’t may places that accept pets and you definitely have to pay a premium to have a pet. I did the calculations for rent vs buy and getting a small place was a better option for me.
Okay, so here’s the breakdown for June 2013:
CASH: $180,100 (-32%)
- Scroll down for the reason for the drop lol.
- 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 $4600 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: $1805 (+7.5%)
- 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.
- 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: $24540 (+0.8%)
- 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: $35377 (-2.5%)
- I attribute some of this months’ decrease to forgetting to cancel the order in time and so I bought Transalta hahaha (whoops!)
- 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!
- Yes, that’s right. I did it. Get ready to stone me!!
- 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: $4478
- Obviously this month’s spending is worse than last month. I claimed my points again to offset the terrible credit card bill lol. Had to pay for my car insurance this month (approx $1500).
- 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.
- 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.