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Saturday, November 21, 2009

Net Worth Update - November 21st, 2009

Just a disclaimer before I begin: with Christmas on the way, I made a few extra purchases this month and I signed up for a course. A course is considered to be good credit (because it will eventually turn into me making more money at my job), so although it is hurting my bottom line this week, in the long term it is a positive.

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 $518.23 from November 6th, 2009
- up $8513.19 from November 21st, 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 assets are continuing to slowly rise as the stock market inches up towards the end of the year. This is making me feel better, even after a really poor end to 2008 that the bounce back happen very quickly. Every book that I have read has confirmed this, but its nice to experience it too!

- worse $63.28 from November 6th, 2009
- better $12,587.47 from November 21st, 2008(one year ago)

These liabilities include my mortgage, student loans and a consolidation loan (mainly for my Masters Degree for teaching). I am now up to five tutoring jobs, where the extra money that I earn goes to paying off my liabilities. As mentioned in the intro, I signed up for a $900 course which hurt my financial statements for this week. As a positive, this is the first time (since I signed up for my last course in May) that my liabilities got worse. I'll have to bounce back next week with a vengeance!

- better $454.95 from November 6th, 2009
- better $21,100.66 from November 21st, 2008 (one year ago!)

This is the nice thing about going on automatic pilot for my finances: even in times where I have to spend more (Christmas, courses, etc.) it still goes in the right direction. For me to imagine that I am $21,000 better than I was a year ago boggles the mind!

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.

TSX Graph
Current Value: 11,579.33
Highest Value in Last 2 Years: 15073.13 June 18th, 2008

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