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$154,100 (+0.38%)

This month was not so hot but still managed to squeak by from last month, by a whopping (please excuse the following which is dripping with sarcasm) $400.  I had a ton of bills to pay this month, and bought new glasses (thanks to my extended health benefits).  If you haven’t heard of Luxottica, they are a luxury eye glasses manufacturer in Italy.  Basically all the brand name glasses you buy all came from the same company.  I used to own this stock (haha, unfortunately I listened to Jim Cramer’s advice one day and bought it) only to see it dip substantially during the crash.  It’s bounced back up but still hasn’t been performing that great, though it doesn’t matter since I’ve sold it.

Boyfriend and I also got handy and bought some supplies to stain our fence and also paint our outdoor stairs.  It’s been a fun project so far and hopefully we’ll finish up the stairs this weekend.  Thanks to the Rona Air Miles redemption, our DIY supplies only cost us $50.

I also started a car fund as well to supplement my other savings to replace my current car (Leigh, you’ll be proud of me lol).  It has 105,000 km’s on it right now, but I anticipate that it’ll be good for another few years.  Honda’s are pretty reliable 😉

Okay, so here’s the breakdown for August 2012:


CASH: $15, 091 (-3%)

  • More money Pictures, Images and Photos

    Boyfriend and I have a joint account which our mortgage is deducted from, and our own personal accounts.

  • 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 $3500 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.
  • My goal is to save $5000 in my emergency fund by the end of the year.

STOCKS: $8276 (+1.01%)

  • The stock market is as volatile as always.  Nothing new here 🙂
  • These are stocks that capture 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: $13464 (-0.8%)

  • This includes the pre-authorized monthly contribution into my TD E-Series account, a GIC in my ING Direct Account and my new 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
  • I owe about $16,000 to myself in my RRSP because I used the Home Buyers Plan for my down payment. I haven’t decided whether or not to pay it back this year or have the 1/15 amount included as income. Since I’m in school, my income has decreased substantially so it might be feasible to just let the minimum amount get added as tax for 2012 (remember RRSP’s are all about tax deferring!)

TFSA: $22105 (+3.8%)

  • Unfortunately I got so busy with school this term that I haven’t had a chance to track my dividend payments this term in the excel 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!
  • I have maxed out my TFSA contributions for 2012


  • I am not counting this in my net worth, because it’s 12 years old.
  • It’s due for a major tune up (probably will cost around $500)- still on my to do list!

PRINCIPLE RESIDENCE: $387,500 (0.0%)

  • I know this it does not make any sense to divide the principle residence and mortgage debt by 50%, but since I cannot disclose my boyfriend’s financial information, I will do it this way to simplify things. Some of you may not agree to that, and I understand.
  • Vancouver is an expensive city to live in, and many people predict that there will be a housing collapse, especially in a place where their is such a disparity between income and housing price. The Vancouver market was actually quite unscathed compared to the depressed housing markets elsewhere, and many people believe it is sorely due for a correction.


Mortgage Debt: $292 120 (-0.28%)

  • Haha, seems like every month we change our mind.  My boyfriend and I may start our extra payments again.  I think he is coming around and realizing that being in debt isn’t ideal.
  • He’s agreed to packing his lunches three times a week to save on his eating out costs (yippee!)
  • We officially own 25% of our property!  We definitely need to bump up our extra payments.
  • Our basement suite is rented out so this takes the sting out of me going to school and dropping my income

Credit Cards: $1055

  • With my MBNA Rewards World Elite® Mastercard®, I already almost have another $200 worth in points since redeeming the points in February.  Gotta love my credit card.
  • 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.

Article comments

Rob says:

I do include our cars but the way I calculate the value is by dividing the price by 120 (10 years) and deducting that from our net worth each month. For wife’s Yaris I deduct 50 euros a month and my car by a 100 euros each month. Not perfect but good enough for tracking net worth.

Also since I live in Spain and invest (mostly) in Canada to keep things simple I don’t bother with exchange rates and stuff

young says:

@Rob- That’s cool that you live in Spain. Is the standard of living more expensive in Spain right now, or is it better with the reduced Euro/Canadian dollar exchange?

Rob says:

When we first moved, in this case to Germany, it was much more expensive, but over time you adjust. But what really kills is when you go home is the cost of food. that’s where you really notice inflation. Part of it is exchange, once you convert it isn’t so bad,

Interesting is Tim Hortons, 12 years ago a buck and a half bought you a coffee. today its’ still pretty much the same.

The one thing I’m glad I did do when leaving is keeping all our bank accounts and CCs even today I still use both.

i love dogs says:

If you can’t get 250,000 KMS out of a honda… sell it and buy a bus pass. #1 reason people buy new cars is out of vanity. and as for tune up? buy a haynes DIY book you will save $300

young says:

@i love dogs- Awesome thanks! I don’t mind the tune up really as I can use it for a tax deduction since i use my vehicle for work. In fact, I’ve made an appointment for next week! 🙂

I’m impressed with that credit card rewards money. Nice work. I’m almost there, but it took some pretty major purchases this year to set a path above $1K in rewards!

young says:

@MMD- MBNA All the way. I don’t know if MBNA exists in the US? I thought that credit card rewards are pretty awesome in the US?

Leigh says:

It seems like you have plenty of bills to pay each month, but your net worth is still going up.

I’m so glad to hear that you started a car replacement fund! Hondas do last well, but you never know, right?

young says:

@Leigh- lol I do seem to complain about bills a lot, don’t I? Yes, you never know. It also doesn’t help that my boyfriend got rid of his SUV for something not so handy. Now I’m feeling the need to get some sort of transport friendly type vehicle sooner rather than later.

Hey any month where net worth goes up despite having a lot of expenses is a good month in my book! Glad you eeked out a gain instead of reporting a minor loss 🙂

young says:

@Lance- Thanks Lance- love your optimism!

John @ Calling the Puts Guy says:

That’s great! I am wondering how do you incorporate your dividend? Do you calculate the dividend on the day it was declared or on the way, it is distributed – I know that you use automatic reinvestment, but I am wondering when you incorporate that into your net asset (worth).

young says:

Hi John, actually I have no DRIPs on any of my dividends! I don’t calculate it until it’s been distributed and it’s in my trading account.