Net Worth Update - August 29th, 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 $373.82 from August 14th, 2009
- up $6009.10 from August 29th, 2008(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 went up a little bit in these two weeks, and I went to the bank to raise my contributions so this should continue to rise at a nice rate.

LIABILITIES:
- better $461.33 from August 14th, 2009
- better $10,978.26 from August 29th, 2008 (one year ago)

These liabilities include my mortgage, student loans and a consolidation loan (mainly for my Masters Degree for teaching). My credit card is now slightly higher than zero (because I forgot that I had to pay condo insurance). This should impress upon me the importance of having an emergency fund.

NET WORTH:
- better $835.15 from August 14th, 2009
- better $16,987.36 from August 29th, 2008 (one year ago!)

I am hoping that these nice numbers can continue as school begins again. I am no longer getting extra paycheques because of summer school, but in a previous post I mentioned that I am lowering my taxes on each paycheque. This money will go to a loan. Looking forward, I am feeling pretty good about my finances. My net worth continues to be at an all time high and my goals of my liabilities always dropping each paycheque has worked pretty well so far (although my statistics say this only happens 72.2% of the time since I bought my house two years ago).

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: 10,977.97
Highest Value in Last 2 Years: 15073.13 June 18th, 2008