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Tuesday, January 19, 2010

Net Worth Update - January 19th, 2010

Not a pretty two weeks...with a few small expenses here and there (going out for congratulations for the wedding, getting a new birth certificate (don't ask)) my numbers weren't great this week. Also not having an extra $150 per paycheque because of my tax deductions at the end of the year hurt as well.

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 $139.36 from January 2nd, 2010
- up $7488.58 from January 16th, 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 dropped slightly, but overall I am still in good shape.

- better $143.36 from January 2nd, 2010
- better $15,922.17 from January 16th, 2009(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. My Mastercard shot up this paycheque and that is what is causing the problems here.

- better $282.72from January 2nd, 2010
- better $23,410.75 from January 16th, 2010 (one year ago!)

Once again, automatic pilot means that things will be going in the right direction without major intervention on my part no matter what. We'll see if I can keep my nice streak going. My fiancee and I hope to combine our finances once we get married (February 14th!) so hopefully my cashflow in a month will slightly improve.

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: 11,750.54
Highest Value in Last 2 Years: 15073.13 June 18th, 2008

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