The numbers below outline where we ended October 2016 and how we are starting November 2016. For more information, please refer to the notes after the table.
|Total Net Worth||$109,492||+$3,566|
Monthly Net Change: +$3,566 (Check last month’s net worth update)
Just an easy month with minor business expenses.
More regarding the accounts
- Chequing – this is our main day-to-day bank account handling all of our bills and salaries. I transferred money here for a new business investment in June.
- Wife RRSP – I finally opened a Questrade account for her and transferred some money over.
- Questrade RRSP – no money added.
- Questrade TFSA – emptied this bad boy for a business investment. I will stock up some cash and start adding some money here.
- Tangerine TFSA – was my main savings account until I used it to pay for our wedding and “staycation” honeymoon 2013. The rest was transferred to the Questrade TFSA. The $8 were the interest paid out after I emptied it. I don’t plan on using it again so I should be transferring the $8 somewhere better.
- Wife TFSA – emptied this one as well. Not sure when we will start adding money here as I would rather add money to her RRSP after I finish paying the developers for my new site.
- Cash – we are using cash for all day-to-day purchases (fixed expenses are excluded). I only count bills since I put all my change in a jar. Once in a while I will count the change and exchange it for bills at the bank. Love counting the change and organizing it. Very relaxing activity.
- Pension – company matches a good chunk and I am taking full advantage of it.
- Home – condo downtown Toronto.
- Vehicle – finally paid off and added as an asset. The reported sum is the lowest from Canadian Black Book…like Kelly’s Blue Book but for Canada
- Credit card – we put as many of our fixed expenses and business expenses through a single credit card which is paid off in full when the statement comes.
- Mortgage – self explanatory.
How was your month? I love seeing huge jumps in other people’s net worth as it serves as a motivator to earn, save and invest more.