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$150, 237 (+1.02%)

Yay- reached my goal- one month ahead of time!  It feels great to reach this goal but now I want to set another goal (never satisfied, am I?).  A few factors helped in this- one is the acquisition of this website and the other is more scholarship money being granted.  However, I haven’t paid for my car insurance yet which is due next month and that’s a whopper.

The new owners of this site have graciously allowed me to keep the ING widget up until I unlock an ING bonus (there’s a little part of me that has OCD tendencies and seeks to unlock bonuses).  I think I just need two more referrals to do this.  So if you’re looking to get a new savings account- please use the orange key to your right side 🙂

The stock markets were pretty volatile it seems for the past few days.  I haven’t bought any more stocks and I don’t really intend to- I would like to focus on buying more bonds or adding more liquidity by increasing in my cash savings.

Also, just to let you know, I have divided the proceeds of the blog sale to average the amount I received when I was the owner for the next year and a half or so while I’m in school.  Sorry for the run-on sentence!  Basically, I’ll be adding X amount of dollars to my net worth updates every month to reflect the average income I received from this blog.

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


CASH: $14, 787 (+1.16%)

  • 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 $3000 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’m about halfway there. Here’s my shameless plug: If you are Canadian and want to help contribute to my hiking fantasy, feel free to sign up for an Tangerine with my orange key: 33530953S1. You’ll get $25 if you start an account with $100, and I will get $25 too. :)
  • My goal is to save $5000 in my emergency fund by the end of the year.

STOCKS: $7982 (-0.2%)

  • No change this month really.
  • 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: $13050 (+1.9%)

  • 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: $22,112 (+0.4%)

  • Woot! Got my $20 gift card from KEG.UN this year again.  Seriously made my day.  A reader wondered whether buying 1 KEG.UN share at $15 would make you a shareholder and thus allow you to be eligible for receiving a $20 gift card.  That’s a good idea and a sweet deal!
  • 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.
  • My car is still pretty clean from last month’s $20 car wash splurge 🙂

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: $293, 818 (-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: $371

  • I need to call AMEX this month to see if I will get charged an annual fee after my first year of their rewards card.  That’s on my to do list.
  • 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


Wow – you’re really showing how hard work and diligence can make a huge difference in your financial picture! Thanks for sharing and I look forward to hearing about the next major goals you reach!

young says:

@Shannon- Awe thanks!

Great work Y&T. I always look forward to reading these updates.

Keep it up!

young says:

@MOA- I love your dividend income updates too! I still haven’t gotten organized enough to track my dividend income- terrible I know 🙁

young says:

Thanks Mich! Yup, still around! I’m glad I’m still around too.

Too bad the markets are kind of crappy right now. Should have sold and come back in September! 🙂

Good job on reaching your goal, glad you’re still around 🙂

PK says:

Congrats on breaking the 150k barrier! Looks like you grew in everything except the stock.

What’s the goal for 200k? 300k?

young says:

Yup- I anticipate that next month will be a doozie for the stock market too!

Hmm goal for 200K, 300K? I hope soon. I’m not as ambitious as Million Dollar Journey for 1 million net worth by 35.

I’ll probably be conservative and aim for 175 by the end of 2012. I’m not even sure if that’s conservative! 🙂 Time will tell.

Leigh says:

Congrats on reaching your goal! 🙂

young says:

Thanks Leigh! Now I don’t now what my goal should be going forward. Maybe 175 by the end of the year?

Leigh says:

Do some projections and calculate what’s realistic 🙂 That’s what I do!

young says:

Thanks Leigh!

Hmm well then my 175K estimate is likely not going to happen. But you never know I guess 🙂

Nicely done! I’m excited to hear more about that website you bought (will you be talking about it on here?). I try not to look at my net worth since it’s only sitting at around $40k right now but hopefully in the near future we’ll be buying our property!

young says:

Hi! It’s actually Teacher Man who bought this website. I was just the previous owner of the site- so you’ll have to ask him if he wants to talk about it lol 😉

Hey, $40K is good- that’s a big chunk of change. You’re probably much younger than me too 🙂

young says:

Oh, and I’d like to add that it depends on the cost of living where you live too. If you live in an expensive city it can be hard to save up.

Stephen (Saving from Scratch) says:

Wow. That is some serious saving. How many years ago did you start? I’m seeing a tonne of progress over the past several months, but I still have a long way to go.

young says:

Hmm I guess I started about 7 years ago? A tonne of progress is always encouraging. Keep it up- saving itself can be a great motivator.