I truly believe that my listing your goals and tracking your goals it is much easier to make progress. Here is the usual 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 $450.53 from September 25th, 2009
- up $7777.54 from October 8th, 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 little more aside this week (see a future post on how I lowered my taxes and increased my paycheque for 2009).
- better $678.26 from September 25th, 2009
- better $12,479.33 from October 8th, 2008(one year ago)
These liabilities include my mortgage, student loans and a consolidation loan (mainly for my Masters Degree for teaching). Once again, my four tutoring jobs help in this. It is a little worse than usual because of prescriptions carried forward on my Mastercard.
- better $1128.80 from September 25th, 2009
- better $20,256.87 from October 8th, 2008 (one year ago!)
Excellent statistics as usual. Of course I am a numbers guy, so this looks great. To think that my net worth has increased by $20,000 in a single year makes me tremendously happy. As well, in 2009 I have decreased by liabilities in every paycheque but two (when I paid for my summer school course and when we went on holidays). For me right now, where paying down my debt is a high priority, this is extremely exciting.
The last thing I am going to track is the value of the TSX. I have some asset allocation goals that are dependent on the value of the TSX.
Current Value: 11,436.92
Highest Value in Last 2 Years: 15073.13 June 18th, 2008