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An update of youngandthrifty's net worth for February 2010 (actually the month of January). The main thing this month was an addition..

Net Worth: February 2010 (down 2.6% boooo)

$81,832 (-2.6%)

I should have done my net worth before all the financial meltdown that happened this week (my portfolio took a huge hit!).  I usually calculate my net worth shortly after the first Friday of the month (GEEKY, aren’t I) because that’s when my automatic deduction into my RRSP TD E-series happens.  I AM really glad that I’m getting to do this net worth calculating every month.  It kind of grounds me and nudges me to save up more and spend less.  It’s a good idea to calculate your net worth regularly, IMHO. To calculate your net worth accurately, you’ll need to get all your online passwords from your financial advisors (they’ll start “straightening up” because they know you’re checking regularly–I got a Christmas card from mine with an update on my portfolio from him this year!)

Okay, here’s the breakdown:

CASH: $23485(-12.4%)

  • I added up my chequing and savings account (the Manulife High Interest Savings Account).
  • I automatically deduct money from my chequing account and have it siphoned to the HISA account.
  • I took money out from my HISA to buy my TFSA

STOCKS: $20,453 (-18.0%)

  • This month I was really active (hmm…maybe almost TOO active) buying and selling stocks on Questrade, so I included ‘sideline’ cash (my cash is sitting on the bench itching to play in the stock market)
  • I sold off my 75 shares of VISA and then proceeded to use the gains from that sale to buy my trip to Asia (the tour company I booked with in Asia needed to take the money in USD and I bought VISA when the exchange rate was at par so didn’t have to take a currency hit)
  • I actually realized some capital losses this month including one that was  $#@&$( inadvertant due to Questrades wonky webtrader system. I now use their QuestradeWEB platform and find it much less inaccurate.
  • These are stocks that captures the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts. I added up USD and CAD stocks as “Canadian” money to be simplistic

RRSP: $19401 (-4.5%)

  • This includes some emerging market mutual funds (BRIC), the monthly deduction into my TD E-Series account (primarily bonds), a GIC in my ING Direct Account, and some ETF stocks I have in my BMO Investorline account.
  • I hope to max out the $25,000 and withdraw for my first home purchase (hopefully soon) with this amount saved.
  • The stocks in my RRSP’s took a hit from the financial meltdown earlier this week


  • I am a public sector employee (hurrah for good-lookin’ pensions!) but am not including it in this net worth update because I want to keep it simple, and to be honest, I’m too lazy to calculate how much I have in it.

OTHER: $11161 (-3.6%)

  • (initial investment was$18,100 from the get go)
  • I have some investments that were poor choices (I signed up for them before I became self “edumacated”) that are losing money big time.  In order to receive a tax credit, I got persuaded into buying some flow through shares, Venture investments that gave out a tax credit, and some more mutual funds about four years ago

TFSA: $10254 (+105%)


I’m not going to bother counting the car. It’s 10 years old and I’m planning to drive it to the ground.

CREDIT CARD: $2094 (-41%)

  • See what I meant when I said my credit card spending has it’s ups and downs?
  • The big purchases this month were: My flight to Asia and taking my dog to the vet and getting denied my claim from Pet Care
  • I pay off my full amount every month.
  • I basically charge everything to my card to reap the benefits (free flights and hotel stays!)– I need to find a new credit card soon because my SPG MBNA Master Card is sadly, ending.  I plan to post about my credit card options and plan of attack soon.

Article comments

Jeff says:

You are definitely on your way to that million dollar club. Very nice. Good luck saving for the house.
.-= Jeff

young says:

Thanks Jeff! Like I said, when we get to the million dollar club, Patron’s on me! =)
I think the correction needs to be made- good like saving for the condo (not house )! Went to a mortgage broker yesterday and realized that we can’t really afford a house.. unless it’s in the boonies somewhere…

Derry Brown says:

Great work youngandthrifty (if that is your real name), you are a shining example of what can be achieved by our generation! The other thing that I really respect is that you are so open and honest about everything (most things). The financial world is cluttered with hype and BS. Your blog is a breath of fresh air.


young says:

Awe thanks Derry. No, youngandthrifty isn’t my real name, though if my parents really named me that… i’d probably would have rebelled in high school and been frivolous with spending. (Just like how people named “Angel” don’t usually turn out to be angels, you know what I mean??)

Very impressive; quite a nice looking net worth. I’ll be honest, I’m not that familiar with Canadian currency and the conversion rates between Canadian and American dollars, but it seems like you are off to a good start in building up your finances, in any nation.
.-= The Amateur Financier

young says:

Thanks Amateur Fiananicer! The conversion rate is about 96 cents CAD to $1 USD now. I’m just trying to save up enough money for my downpayment right now (25% of a $350,000 condo is.. a lot!).

If you pay off your credit card in full each month, why do you choose to include it in your networth calculation?
.-= me in millions

young says:

Good question, me in millions.
I do it because I do my net worth as a “snap shot” in time. I think of it as “if I were to sell everything today, how much would I have”. I guess it’s more unconventional to think of the net worth like this, but that’s how I see it. If I don’t calculate my $3000 credit card debt (even though I pay it off), then it would look like I had $3000 extra in cash (to me, anyways!).