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 $654.84 from July 17th, 2009
- up $5838.77 from August 1st, 2009(one year ago)
These assets include my house (I give it 1% appreciation each year in my appreciation), my RRSP and my TFSA. The market swung up a bit in the last two weeks (my brother even told me that his investments are above zero percent all time meaning tha the recovered his losses from the last year/this year...I am not quite so lucky)
- better $847.39 from July 17th, 2009
- better $11,241.25 from August 1st, 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 $1502.24 from July 17th, 2009
- better $17,080.02 from August 1st, 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. I got my first paycheque for about $700 or so, affecting my assets and my liabilities.
2) Because of the way the month fell, I got three pays in the one month, giving me some more disposable income.
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.
Current Value: 10,787.15
Highest Value in Last 2 Years: 15073.13 June 18th, 2008