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%)
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 World Points World 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.