I was a little slow with the update because my bank was a few days behind because my paycheque came out on a holiday. But my bank statements are now up to date and I can update finally!
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 $532.16 from December 20th, 2009
- up $7523.36 from January 2nd, 2009(one year ago)
These assets include my house (I give it 1% appreciation each year in my appreciation), my RRSP and my TFSA. At the end of the year, distributions are up as well as stocks tend to rise so portfolio managers (in my opinion) can look better in a year to year comparison. (I don't know if that's true but it seems to be)
- better $816.14 from December 20th, 2009
- better $15,171.80 from January 2nd, 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. I have a small Mastercard amount but once that is paid off these will continue to be tremendous amounts here!
- better $1,348.30 from December 20th, 2009
- better $22,695.16 from January 2nd, 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. Technically, this was my three pay month so these numbers look great no matter what here.
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: 11,944.54
Highest Value in Last 2 Years: 15073.13 June 18th, 2008