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 $345.97 from March 12th, 2010
- up $7985.85 from March 26th, 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 stock market continues to inch up, helping me out.
- better $77.69 from March 12th, 2010
- better $15,021.23 from March 26th, 2009(one year ago)
These liabilities include my mortgage, student loans and a consolidation loan (mainly for my Masters Degree for teaching). This was a little more painful as it was frugala's birthday and I was still catching up from having less pays for the last two weeks. Hopefully in the next net worth I will be able to get back to business.
- better $423.66 from March 12th, 2010
- better $23,007.08 from March 26th, 2009(one year ago!)
Continuing the nice positive moves over the last year. As long as I can do the "slow and steady" progress I will be happy. I haven't combined frugala's numbers into here yet (if I ever will), but because she doesn't owe anything, the liabilities section will always be mine. Just sitting back and thinking about it, I am better $23,000 this year as compared to last. If you think of being a millionaire, it will take me over 43 years at this point (which I don't want to wait that long), so I will have to pick up the pace.
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: 11,957.37
Highest Value in Last 2 Years: 15073.13 June 18th, 2008