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Saturday, September 12, 2009

Net Worth Update - September 11th, 2009

An unimpressive week for my net worth and an unimpressive week for my blog. Nonetheless, here is an update for both.

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 $332.15 from August 28th, 2009
- up $6321.34 from September 12th, 2008(one year ago)

These assets include my house (I give it 1% appreciation each year in my appreciation), my RRSP and my TFSA. My index funds continue to rise, and I increased my deposits with my pay raise.

- better $145.35 from August 28th, 2009
- better $11,305.61 from September 12th, 2008 (one year ago)

These liabilities include my mortgage, student loans and a consolidation loan (mainly for my Masters Degree for teaching). My excuse this week for the only small improvement is that I have an extra $500 on my mastercard that I purchased this week for insulin supplies (I am a diabetic), which will come off for my next net worth update, so the numbers will eventually look better. I also increased my payments on a loan and my mortgage with my pay raise so this will incrementally help my liabilities.

- better $477.49 from August 28th, 2009
- better $17,626.94 from September 12th, 2008 (one year ago!)

I am actually feeling really good about these results (as usual). For the last two years, the first week of school brought about increased spending (materials for the class, new clothes, etc.), but this year while the spending increased, the money just came out of the buckets, so I didn't need to spend extra. As I am saving for Christmas in this way as well, there won't be a huge negative jump at Christmas. This is highly recommended for everyone!

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: 11,253.23
Highest Value in Last 2 Years: 15073.13 June 18th, 2008

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