youngandthrifty networth update: August 2010

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Net Worth: July 2010
$114,554 (+ 3.7%)

I would say that I put in effort to save this month.  For big purchases, I only spent money for a gift for my boyfriend for his birthday and a long weekend trip to Kelowna which didn't cost very much at all.  What also helped was that the market wasn't acting too depressing this last month, considering it's summer holidays and all.  They say “sell in May and go away” …maybe they meant to come back in July.  =)

I finally looked into my TFSA Questrade Trading account and checked which one of my holdings were planning to incorporate and which ones weren't.  I found that all of them were converting (or already on the verge of converting by getting approval) except for one of them.  That one plans to convert, but doesn't seem like they have any concrete plans as half the year is over already and they are still saying “might”.  I plan to sell that before the year ends and buy some XTR.TO (yup, adding some ETF's to the mix).

Without the pension added, I'm at 97373… almost over 100K. So close, so close!  Hopefully in the next few months I'll be at over 100K before adding the pension.

Okay, so here’s the breakdown:

ASSETS:

CASH: $32,281 (+4.7%)

  • I added up my chequing and savings account (High Interest Savings Account).
  • I automatically deduct money from my chequing account and have it siphoned to the HISA account.
  • I moved some extra money (after my HISA contribution) into my non-registered Questrade account

STOCKS: $21815 (+7.2%)

  • Don't get excited about the 7.2% from last month, I transferred about $1300 I had in extra cashola from my bank account (after I paid off all my credit card bills etc.) into my Questrade account.  Talk about paying yourself first!
  • Must admit though, the market hasn't been treating me too poorly lately.. it's picking up a bit.
  • All the cash that was sitting there in my Questrade account is now invested into equities/ index funds.
  • 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 (which is about a 3% difference right now)

RRSP: $22, 235 (+5.7%)

  • This includes some emerging market mutual funds (BRIC), the monthly deduction from my HISA into my TD E-Series account (primarily bonds), a GIC in my ING Direct Account
  • I hope to max out the $25,000 and withdraw for my first home purchase with this amount saved with the RRSP home buyers plan
  • I finally did it! I closed my BMO investorline account (RRSP only) and opened a Questrade RRSP account
  • I funded it with some cash (making sure not to go over my allowed amount for this year's RRSP contribution), but when I set up the electronic fund transfer from my main bank, I accidentally paid the wrong account number! So am waiting a few weeks to clear that up before I make purchases in my new RRSP account.. and I have still been waiting since last month! My money is missing!! I've been trying to contact Questrade and BMO and its been a pain in the butt to say the least.
  • I haven't bought anything with the extra money I funded this year yet, but plan to get some bond ETF's.
  • I still have $400 to contribute before the end of the year for my RRSP contributions which I plan to do after they find the $300 that I deposited first (insert eye roll).

PENSION: $17181 (+2.0%)

  • A reader wanted me to start including my pension last month, so I did (I'm responsive to my readers like that, ya know!)
  • How I calculated it: I took my pension statement and added my monthly contributions from my paycheque to reflect this month. I'm not including my employer's contributions in my pension calculation.

OTHER: $10754 (-0.15%)

  • If you're wondering what I hold in my Other investments- check out my post long story
  • 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.
  • These guys haven't been moving much, unlike the rest of the market.  Once I break even with one of the venture funds, I'm gonna get the heck out.

TFSA: $11288 (+1.8%)

  • $5250 Principal protected through an HSBC investment (+6%) from inception (TFSA of 2009)
  • $6038 For my 2010 TFSA, I signed up for a Tax Free Trading Account with Questrade and I bought lots of income trusts and am having some yummy monthly distributions roll in until they incorporate the income trusts in 2011.
  • I looked up which ones are incorporating and which ones aren't

CAR:

  • I’m not going to bother counting the car. It’s 10 years old and I’m planning to drive it to the ground.
  • I need to wash it.  Too much guano on my paint.

LIABILITIES:
CREDIT CARD: $1000

  • I pay off my full amount every month (and folks, it's VERY important you do so!) 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 basically charge everything to my card to reap the benefits (free flights and hotel stays here I come!)
  • I got the SPG AMEX card for a few months already and have been using it as often as I can (compared to the MBNA travel elite card) but American Express isn't accepted everywhere here in Canada…
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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.

9 Comments

  1. Financial Cents on August 11, 2010 at 9:09 pm

    Great work!!



  2. young on August 11, 2010 at 9:11 pm

    @Financial Cents- Thanks! I’m working on getting that AAAD, ya know. =)



  3. Financial Samurai on August 12, 2010 at 3:00 pm

    Nice, big bucks! When you gonna splurge on something big?

    Also, how’s the progress on buying a place? Is 32K cash enough for a downpayment where you live?



  4. young on August 12, 2010 at 3:04 pm

    @Financial Samurai- Still looking, my friend =) Probably will wait until September again to start actively looking, nothing really piqued our fancy in the summer. Hmm 32K cash isn’t really enough (unless you want to do 5 or 10% down) but I’m going to go with at least 25-30% (your 30/30/3 rule kicks arse). I was going to take out my RRSP too, and liquidate most things (TFSA, other investments) except for my non-registered stock portfolio.



  5. Echo on August 12, 2010 at 7:47 pm

    Nice work on the savings this month. Great blog too. Looking forward to your future posts.

    I also own LIQ.UN – love the distributions. I’m an Albertan and they’re everywhere around here. Is the BC liquor market continuing to open up to private business? Great opportunity for them to expand further.

    Echo



  6. young on August 12, 2010 at 8:35 pm

    @Echo- Hello Alberta! I love Albertans- you guys are so friendly (puts us BC’ers to shame). There are a few LIQ.UN stores out here, namely LIQUOR DEPOT in Kelowna and Vancouver etc. Yeah, there are more and more private liquor stores opening up, but at the same time, more and more government owned liquor stores are opening up too. Too bad LIQ.UN had such a huggggge drop today! =(



  7. Echo on August 12, 2010 at 9:50 pm

    Don’t worry about the huge drop…they just reported earnings and unfortunately us friendly Albertan’s didn’t drink too much in Q2 (well, with no Flames and Oilers in the playoffs – can you blame us).

    As long as their sweet distribution stays intact, that’s fine with me…



  8. The Saved Quarter on August 16, 2010 at 8:53 am

    It looks like $100k is well within reach, and I’m sure that milestone will feel fantastic to cross. Keep up your strong effort and you’ll be there in no time!



  9. young on August 16, 2010 at 7:21 pm

    @The Saved Quarter- Thanks buddy! I think it will. I hear the music cue already (you know, that music that they play when people are sprinting for their lives and almost reaching the finish line?)



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