$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%)
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.