Net Worth Update - August 15th, 2009

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.

ASSETS:
- up $268.23 from July 31st, 2009
- up $5980.29 from August 14th, 2008(one year ago)

These assets include my house (I give it 1% appreciation each year in my appreciation), my RRSP and my TFSA. I put a few extra dollars in my investments this period, but it is still a nice raise from a year ago.

LIABILITIES:
- better $655.96 from July 31st, 2009
- better $11,524.47 from August 14th, 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.

NET WORTH:
- better $924.19 from July 31st, 2009
- better $17,504.76 from August 14th, 2008 (one year ago!)

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

1) I am currently teaching summer school, basically giving me double paycheques throughout the summer. My second (and final) paycheque was for about $1000, so a net worth increase of $924 isn't that impressive. I have been spending a little more freely for the summer because of the extra cash though.

2) We should be back to normal for my payments and bills coming up for the next paycheque. My raise will take effect September 11th and I hope to have my taxes dropped as well giving me a little more disposable income, so I can keep my credit cards at zero. I have been pretty pleased with how the summer has gone financially, and hope to keep it up throughout 2009.

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: 10,848.01
Highest Value in Last 2 Years: 15073.13 June 18th, 2008