Sunday, 30 November 2014

Delayed Net Worth Update - November

This is the delayed net worth update. I've been promoted at work, so I have been super busy with that.

Here's the update and I'll do a end of the year summary in December.
I'm very have with my progress since last November.

Nov 2014
Networth
Assets
TFSA (td)10930
TFSA (questrade)12351
RRSP (questrade)4842
RRSP (work)1957
Non registered4619
Total34699
Liabilities
Student Debt0
Total34699



Wednesday, 16 July 2014

2014 Q2 Recap: 5-figure networth and the discovery of MMM


I'm happy to see my networth pass 10k this quarter. I have officially worked for 1 year at my first professional job, and I count my blessings looking back at this year. To go from a deeply negative networth from a year ago to what I have now is incredible.

In this quarter I have also discovered MMM, which stands for Mr. Money Mustache. I find his blog to be such a revelation and strongly suggest you to go read this blog if you haven't yet. His post about the shockingly simple math behind early retirement was like a lightening strike of enlightenment. To be able to reach financial independence in less than 10 years! It's astonishing how simple and straightforward this is. I will do my best to increase my saving rate this year. I believe I am currently at around 50-55%, so maybe I can aim for 60%. 

In the second half of the year I can look forward to starting RRSP matching at work. I'm also hoping to get a small raise with my annual performance review. 

Networth or 'Stash (according to MMM) at the end of Year 1 of my working career: $14.9K

June 2014
Networth
Assets
TFSA (td)4708
TFSA (questrade)10214
Total14922
Liabilities
Student Debt0
Total14922

Wednesday, 2 April 2014

Done with Student Debt! Q1 Recap and Networth Update


I'm done with my student loan! It's all thanks to the juicy tax return I received. Originally I did not plan to use the whole tax return towards debt repayment. The plan was to use some of the money for investments and savings, but I could not help it when I actually got the tax refund. Now I officially owe the government nothing, hooray!

I have been eating out quite a bit lately in celebration, but rest assured that I will not fall victim to lifestyle inflations - at least not too much.

March 2014
Networth
Assets
TFSA (td)1635
TFSA (questrade)7317
Total8952
Liabilities
Student Debt0
Total8952
I don't include my bank account and credit card balances because they fluctuate, so I don't like them as indicators of my net worth. I don't carry a credit card balance.


TimeStudent Debt Owed
Apr, 2013$46422
May, 2013$33422
Jun, 2013$33202
Jul, 2013$31555
Aug, 2013$26507
Sep, 2013$16100
Oct, 2013$14762
Nov, 2013$9968
Dec, 2013$8710
Jan, 2014$7550
Feb, 2014$6226
Mar, 2014$0

Friday, 28 February 2014

Febuary 2014 Student Debt Update and a Celebration of Positive Net worth

One step closer to being debt-free, yay! I'm looking forward to a nice tax return this year thanks to all my accumulated tuition tax credits. The money will go towards both my student debt and my investments. Also, my net worth is finally positive this month. What an awesome Birthday present!

Some bad money news. My car has cost me a pretty penny since the move, I've had to replace/repair/install several parts already and I noticed a large crack on my windshield today. All these extra vehicle expenses are really making driving a luxury.

Some good money news. Our company is giving us a cost of living raise of about 2.5%, and it will be considered effective since Jan, so it will be a nice bonus on the next paycheck. Also, I'll be working a lot in March, 50+ and 60+hr weeks. I've got the feeling that I will be very burnt out as my job is both physically and mentally demanding, but it will be good money.

On to the tables and charts on Feb:

Febuary 2014
Networth
Assets
TFSA (td)1023
TFSA (questrade)6162
Total7185
Liabilities
Student Debt6226
Total959
*Again, I don't include my bank account and credit card balances because they fluctuate, so I don't like them as indicators of my net worth. Plus, I don't carry a credit card balance.

TimeStudent Debt Owed
Apr, 2013$46422
May, 2013$33422
Jun, 2013$33202
Jul, 2013$31555
Aug, 2013$26507
Sep, 2013$16100
Oct, 2013$14762
Nov, 2013$9968
Dec, 2013$8710
Jan, 2014$7550
Feb, 2014$6226

Tuesday, 31 December 2013

2013 Net Worth Update and Student Debt Dec Update

   This is an update of my net worth - the simplified version. I didn't include my bank account balance and my credit card balances (I pay them off every month) because the balances fluctuate and I feel like they have no significance because there's no growth potential.

December 2013
Networth
Assets
TFSA (td)677
TFSA (questrade)4403
Total5080
Liabilities
Student Debt8710
Total-3630

As for my student debt, here are the charts and graphs of my progress so far. 


TimeStudent Debt Owed
Apr, 2013$46422
May, 2013$33422
Jun, 2013$33202
Jul, 2013$31555
Aug, 2013$26507
Sep, 2013$16100
Oct, 2013$14762
Nov, 2013$9968
Dec, 2013$8710

I have made good progress this year. I will do a new post on my goals for 2014, it's going to be a year focused on building wealth.