Hello and welcome to the last net worth post for 2016. The numbers below outline where we ended December 2016…and the year in general, and how we are starting 2017. For more information, please refer to the notes after the table.
|Total Net Worth||$117,701||+$945|
Monthly Net Change: +$945 (Check last month’s net worth update)
Not the greatest increase in net worth. But we bought plane tickets to a couple of places in Southeast Asia that we will be going to in 3 months, and we took some unpaid time off to relax around the holidays. Our next pay period will also be affected by partial pay cheques, but sometimes you just have to take time off to relax.
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 – Wife’s Questrade account. No additions this month.
- Questrade RRSP – No additions this month.
- Questrade TFSA – Added $1,000 to this account.
- 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 – updated to the lowest price I found end of December. The average is closer to $14,000, but decided to keep it conservative until the next update in a few months.
- 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.