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 $350.09 from March 26th, 2010
- up $7898.81 from April 10th, 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 $1450.99 from March 26th, 2010
- better $15,969.18 from April 10th, 2009(one year ago)
These liabilities include my mortgage, student loans and a consolidation loan (mainly for my Masters Degree for teaching). I got my tax return this week and that is what really helped this segment of my net worth improve!
- better $1801.08 from March 26th, 2010
- better $23,867.99 from April 10th, 2010(one year ago!)
Things have really been moving in the right direction for me, especially with my tax return giving me a nice boost. I have to remember to keep the positive momentum and the plan in place nad good things will happen in the long run for me financially.
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: 12,176.84
Highest Value in Last 2 Years: 15073.13 June 18th, 2008