This month I was really impressed with my spending. According to Mint.com, I spent the least amount of money that I have in a year! I don’t really know what I am doing differently to be honest. I did make a run to Trader Joe’s this month (I love that place and I love my Nexus card) but forgot to get gas while I was in the states. Gas here in Vancouver, BC Canada is $1.50 per litre!
I sold a few things on Craigslist this month, two pairs of boots! I love Craigslist.
I guess I stayed home and cooked a lot or ate home a lot. Part in parcel because I was really busy with work and also because the guy I was seeing was in debt and I just felt guilty for going out to meals with him even though we took turns. More on that later….
Okay, so here’s the breakdown for May 2014 ($336, 400): +1.2%
CASH: $59250 (+3.7%)
- 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: $99830 (+1%)
- I moved $5500 from my nonregistered cash to the TFSA
- These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.
RRSP: $44, 850 (+1.4%)
- 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 >$32,000
- I paid back the Home Buyers Plan for my down payment in 2013.
TFSA: $44 323 (+0.9 %)
- My TFSA is maxed out for 2014 now- I haven’t decided what to buy yet with the money, need to do some research
- 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 14 years old.
- I have started a separate Tangerine bank account for a future car
Credit Cards: $900
- 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 $250 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: $183900 (-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.