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$153, 621 (+1.02%)

This month was stellar (in my books anyways, 1% doesn’t look stellar but I’m happy with it anyhow considering the ridiculous amount of bills we had to pay this month…like property taxes) because the market bounced back a bit from when I did my net worth update last month.

We managed to squeak in some fun time together (very important to avoid that frugal fatigue you know) and took a trip over the weekend.  We also watched “Ted” during this weekend and that was probably one of the most funniest movies I’ve seen in a while.  Not for everyone, of course, but if you like Family Guy, you’ll probably like Ted.

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


CASH: $15, 580 (-0.01%)

  • 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 $3400 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. I think I’ll take it until $3600 and probably stop funding it.
  • My goal is to save $5000 in my emergency fund by the end of the year.

STOCKS: $8195 (+1.07%)

  • Stock markets have bounced back a bit from last month, which is always nice.  B
  • Basically all that’s left in my non-registered account is USD stocks and the lonely stock left in my BMO investorline account
  • 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: $13580 (+1.05%)

  • I did my net worth calculating before the pre-authorized monthly contribution could be deducted, hence the crappy value.  The crappy value is also existent because of the crappy markets.
  • 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: $21270 (+1.02%)

  • I figured out a way to export my dividend payments into excel and it was very exciting indeed!  One month, I had almost $90 in dividend payments.  Now if I could only get it to $500 per month!  Obviously I have a new goal now. 😉
  • 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) and I need to get this done…sometime (I still haven’t gotten this done but did treat my car to it’s semi-annual car wash for $20 lol)

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 (-0.43%)

  • My boyfriend wished to stop out additional payments on our mortgage because he’s planning to be going back to school part-time too and wants to save up.  Depending on how my income goes when I go back to work, I might contribute extra myself later on or maybe do a lump sum.
  • Our basement suite is rented out so this takes the sting out of me going to school and dropping my income

Credit Cards: $1050

  • 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 ended up cancelling my AMEX Travel Rewards card (they are apparently very strict about not giving you more than 1 year free), so I signed up for another Amex points card (I know, I have a problem).
  • 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


Well done!

Given you have a DB pension, I would strongly suggest to max out the TFSA vs. RRSP.

RRSP is great, but I’ll take tax-free over tax-deffered any day. That is of course, you think our tax rates are going to drop significantly over the next 20+ years. Oh ya, I can see that happening….governments are flush with cash 😉


Jeremy says:

Okay, so I have been following the Teacher Man v/s Scott and Scott debate.
For a normal. middle class investor like myself, I have been taken for a huge ride by IG. I can understand if it was limited to the Advisor. The whole MER concept is not fair to the the investor.
Consider this, over 2 consecutive years, I am losing my capital and guess what:
1. My IG advisor gets rewarded with a weeks stay and holiday in Dubai for outstanding performance.

2. The local IG office has had jazz evenings with wine and cheese service and another wine tasting event at a local golf club (it is not a case of sour grapes, as I was present at the events)

Is this not a classic case of not being accountable and poor stewardship?

I decided to exit IG and had to pay a huge price. I appealed to Compliance for a review of my case and as expected they have the Advisor a clean chit. I have since moved my portfolio to a fee based system, and I am happy to say that even though the TSX has been down, I am up 1% annually.

So regardless of what you IG supporters have to say, I have a comment for you. It hurts when you lose your retirement money. You can have all kinds of philosophical debates, but the truth is, an Advisor make money, when the client loses his.

young says:

@Jeremy- I am certainly not an IG supporter and I’m glad I exited them when I did many years ago otherwise I highly doubt my portfolio would be the way it is now.

I had no idea that they get to go to Dubai or jazz evenings but I’m not surprised… I’m sure if they sell X number of leveraged accounts they get more bonuses, more rewards. When I was at their presentation of “what leverage means” (they had a power point presentation for me to see and I was the only audience) the look on BOTH of the advisor’s face just sort of freaked the bejeezus out of me and my spidey senses tingled lol.

It was a look of bloodthirsty hunger, like they wanted me to say yes to a leveraged account no matter what haha.

Teacher Man says:

This is what they simply don’t get Jeremy (or even worse, they get it, but refuse to admit it). Thank you so much for your honest comment Jeremy. It’s exhausting try to rebut the same talking points repeatedly, but I do feel that I need to be fair to both sides of this “debate”. Thanks as always for your support as well Young.

young says:

@TM- It’s definitely a HOT debate. I’d like to say I was instrumental in getting IG to lower their fees thanks to my hater post (jk!). LOL. I hope I don’t get sued or anything for defamation hahaah.

1% of $100,000 is $1000; hence, your 1% increase in net worth is not bad at all, I would even consider it very good as compared to others. Furthermore, I believe though you may think it is a small value, a 1% increase shows that you are working on increasing your assets. Congratulations!

young says:

@Cherleen- Thanks for your support! That’s true- if I had 10% that would be like a 10K increase which would have meant I won the lottery haha.

Yes I agree with Leigh, 1% does not look that bad. Also I am quite impressed by the way you seem to have maintained your books. It is all well defined and arranged as well.

young says:

@taxation- Thanks! In my written book I actually keep a record of each individual stock and how it performs from month to month. It’s definitely good for me to see how well (or poorly) a stock has been doing from month to month.

Leigh says:

1% isn’t bad at all – you’re consistently going up, even with expenses and the market being volatile as always 🙂

young says:

@Leigh- Thanks Leigh! I guess I’m surviving on my limited budget somehow. That being said, I was hanging out with my friends the other night and they were talking about all the delicious places they’ve been to eat (Vancouver is quite the “Foodie” city). I was getting a bit of the “case of the jones'” I realize I’m saving money because I eat at $6.95 places all the time LOL when I DO go out to eat haha.

young says:

@Leigh- I tried commenting on your site but I can never remember my password for wordpress.com 🙁 Well, in any case, you’re doing a fantastic job- I really like your idea of the passive income tracking! You’ll be at $1K per year in no time.

Leigh says:

Thanks Young!

I may eat out for lunch every day at work, but when I go out for dinner, it is generally still under $10/meal too. (I treat myself on occasion, but not actually all that often with how busy I was with moving over the last few months – quicker was better!)

P.S. You don’t need to remember your password – you can just use a name and email address 🙂

young says:

@Leigh- Oh okay! I’ll try that next time I visit 🙂 Thx!

jim says:

Nice job very informative.

young says:

@Jim- thanks 🙂

RichUncle EL says:

Your doing better than most, good job.

young says:

@RichUncleEL- Thanks RU! It’s certainly “slow and steady”. I wish it were more exciting at times, but it’s not lol.

Glad to see net worth headed in the right direction. 1% a.month sounds decent if you can keep it up over the long term but more is always nicer.

young says:

@Lance- Yes totally agree. I wish it were going faster but I guess it’s better than going in the negative range.