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 $602.22 from June 5th
- up $7175.48 from June 19th, 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 rose this week bumping my assets. Three condos on my block sold this week (all for at least $20,000 more than I have mine valued at), so when frugala and I decide to move, there will be some extra assets in our pockets.
- better $280.30 from June 5th
- better $17,157.58 from June 19th, 2009(one year ago)
These liabilities include my mortgage, student loans and a consolidation loan (mainly for my Masters Degree for teaching). A nice little improvement, which I hope to continue as the summer progresses.
- better $882.51 from June 5th, 2010
- better $24,333.06 from June 19th, 2009(one year ago!)
A nice set of weeks, and I want to keep this up through the summer. I will have a few tutoring gigs throughout the summer which I will put directly against loans to pay them down. As well, my buckets are filling nicely, meaning that when we need to buy new floors, or new clothes for me, or go to Golden Lake for a week, it will not impact my liabilities. This cash isn't included on these spreadsheets so there will be no effect.
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: 11,927.59
Highest Value in Last 2 Years: 14790.15 (June 19th, 2008)
We are exactly two years from the high within the two years. The market hasn't been over 12,000 consistently since September, 2008. For these purposes, the stock market was about 13000 in mid September 2008, so I will either rebalance when the TSX hits 13000 or 12500 after September (once I get my raise).