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Saturday, July 18, 2009

Net Worth Update

Every time I get paid (every two weeks), I update my net worth. The idea behind this is that my goals are that my liabilities drop every two weeks, and by tracking them in this way, I am able to get a nice picture of where I stand financially. Its not a perfect balance sheet that I have (because of student loans I have a negative net worth), but the progress is what I am looking for.

- up $280.56 from July 3rd
- up $5433.69 from July 18th, 2008 (one year ago)

These assets include my house (I give it 1% appreciation each year in my appreciation), my RRSP and my TFSA.

- better $1303.56 from July 3rd
- better $11,165.07 from July 18th, 2008 (one year ago)

These liabilities include my mortgage, student loans and a consolidation loan (mainly for my Masters Degree for teaching). Additionally, my credit card would be on here near, but it has had a (near) zero balance in 2009.

- better $1584.11 from July 3rd
- better $16,598.76 from July 18th, 2008 (one year ago!)

Those are excellent numbers! A few realities about my current situation though:

1) I am currently teaching summer school, basically giving me double paycheques throughout the summer. Although I haven't been paid yet, these will really drop my liabilities.
2) Because of the way the month fell, I had three major payments from July 3rd - July 17th (consolidation loan, student loan and mortgage). With all of these falling within one reporting period, it looks like a huge drop in liabilities for these two weeks, when in reality it is just my regular drop.

The last thing I am going to track is the value of the TSX. I have some asset allocation goals that I will share in future posts, and they are dependent on the value of the TSX.

TSX Graph
Current Value: 10,369.42
Highest Value in Last 2 Years: 15073.13 June 18th, 2008


  1. i think the 1% appreciation in the house value is conservative but probably fair.

  2. Over the long term it is very conservative I think, but I can't decide on a better valuation method without going overboard. I guess I could go by the property value as assessed by the city. This is reasonably fair I think.