youngandthrifty November 2013 networth update: $323290 (+0.65%)

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Finally out of net worth inertia (mildly) because instead of the increase of a measly 0.09% as it usually is, this month there was an increase of a whopping 0.65%!  The gains this month weren't because I scaled back my spending (maybe that should be on my New Years Resolutions list for next year) but because of the gains in the stock market mainly.

Some of the big purchases were purchases for things like gift cards and cabin/hotel bookings that my friends will pay me back for, but I haven't included the money I am owed in my net worth update.  Though I am going to mention it to make myself feel somewhat better.

My RRSP account is looking pretty healthy these days because I have increased my TD eseries contributions to $1000 a month until December.

I have also began a relationship with someone so the dating expenses kind of add up a bit.  🙂

Okay, so here’s the breakdown for November 2013:

ASSETS:

Net Worth UpdateCASH: $61625 (-0.7%)

  • Down a bit this month because of the movement of money to the RRSP's
  • 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 next year.

Non-Registered: $102,050 (+0.18%)

  • I haven't been paid out any monthly income or dividends in my non-registered account yet (le sigh!)
  • These are stocks that capture the “moment in time”, including unrealized gains or losses in my BMO Investorline and Questrade accounts.

RRSP: $36810 (+37%)

  • I am pumping up my RRSP contribution to the TD eseries to $1000 per month until the end of the year
  • 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 paid off my RRSP loan to myself this month…. because I used the Home Buyers Plan for my down payment.

TFSA: $37650 (+3.6%)

HOME: $272,000

  • My plan is to live in this for 1-2 years and then rent it out once I find my prince charming (haha…right?)

CAR:

  • 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

LIABILITIES:

Credit Cards: $2485

  • 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 over $500 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: $18700 (-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.
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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.

7 Comments

  1. M on November 5, 2013 at 1:39 pm

    A couple questions:

    Are you able to have multiple savings accounts open to transfer funds to for vacation, vehicle, TV… or whatever you want to “save up” for?

    How do you chose which day to complete your networth? should it be a week after your bi weekly payment from your employer or take the last day of every month?



  2. Leigh on November 5, 2013 at 2:31 pm

    Congratulations on the new relationship 🙂 I hate that awkward phase of not being able to really budget for your spending since it is sporadically shared. I started a relationship with one of my really good guy friends over the summer and we’re still somewhat in that phase, but partially because we agreed that that was working fine for both of us.

    $1,000/month to your RRSP is pretty awesome!

    Hehe I feel like your RRSP and TFSA are in competition with each other now! When do you plan to max out your TFSA for 2014? Are you going to do that in January with your cash?



  3. Color Me Frugal on November 5, 2013 at 2:36 pm

    Nice! We are doing the same thing with our home- we bought it with full knowledge that we may not live in it for very long (3 years maybe), but we got a great interest rate and we are totally planning to keep it and rent it out when we are done living in it.



  4. Young on November 5, 2013 at 10:06 pm

    @M-Yup! I highly recommend the ING direct savings accounts (in fact there’s probably an orange key somewhere on this page). I have one for car and another one for my vacations. You can even set “goals” with these savings accounts too and they help you track your progress.

    I usually do my update the first Friday of every month 🙂 I don’t think it matters as long as it’s consistent.



  5. Young on November 5, 2013 at 10:07 pm

    @Leigh- Haha I like the sporadic sharing! I would rather have that then things being split down the middle to the last penny. I’m so excited for you too!!! Good guy friend!!! Those are the best relationships. It’s like HIMYM in real life! lol 🙂

    Yeah $1000/month is not sustained.. just until December lol So it’s temporary awesomeness.

    I think I’ll probably do it in January but who knows.. I should probably do it in January. The tax free-ness is calling for me.



  6. Young on November 5, 2013 at 10:08 pm

    @CMF- Great to hear! 🙂 Well, I am saying this now, but who knows what will really happen. So hard to plan what happens in the future.



  7. fiscally fit on November 6, 2013 at 2:36 pm

    so is your mortgage an actual mortgage or a LOC?



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