Net Worth Update Feb 2015: $17,480 (+37.1%)

I hope everyone had an awesome Family Day!

I know it is kind of unconventional to release my net-worth in the middle of the month but I thought it would keep things more interesting. Instead of reading all your net worth updates at the month’s end you will now have one to read in the middle.

With that being said, when I mention “this month” from now on, it actually means the latter half of last month and most likely the first two of the current. In any case, this is how I stand in February:


For this month’s update, my net worth had seen an increase of 37.1% (+$4,727). At first, I thought that this percentage was way too high but after doing a recalculation, it appears that my math had been correct.

I must also remind you that I live at home and have very few expenses. I expect my percentage to decrease as I slowly build my net worth. Even so, I am still way behind on my financial time line and I will need to put more effort in to get back on track.

Assets: $35,615 (+14.3%)

Cash: $1,397 (+33.8%)

  • I see my cash position as completely irrelevant for now. I use my credit card for all my purchases. I will only need to maintain $300 in it as my student loan is automatically deducted from my chequing account. Whatever is left over will be automatically used to max out my TFSA.

TFSA: $33,142 (+13.9%)

  • I have made $1,000 in contribution to my TFSA.
  • The energy and financial sector had also made a decent recovery resulting in such a dramatic increase from last month.
  • My Apple stocks have returned 40% of my original investment. (more on this in my Q1 Portfolio update)
  • I still have $6,000 in contribution room.

RRSP: $1,076 (+4.1%)

  • Not much progress on my RRSP this month and account is still configured to the TD E-series.
  • I am considering whether to transfer $1,000 from my chequing account now that the deadline to contribute for this year is nearing.

Liabilities: $18,135 (-1.5%)

Student Loan: $17,968

  • I have mentioned previously that I thought about using my parent’s home equity line of credit to refinance my loans. However, I have decided to put that strategy on hold for now. (More on this later on)
  • My TFSA portfolio is out performing my student loan interest. At the present moment, there is no rush in paying off my loans but it would be nice to still get it repaid by the end of 2015.

Credit Card: $167

  • Most of my expenses come from EATING OUT again. Perhaps one of these days, I may try a no eating out challenge for a month.
  • I am currently in the process of collecting data on my spending. I plan on releasing an analysis in March in an effort to budget my finances.

Total Net Worth: $17,480 (+37.1%)

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18 Responses to “Net Worth Update Feb 2015: $17,480 (+37.1%)”
  1. Roadmap2Retire February 17, 2015
    • Jeff February 17, 2015
  2. SimpleCheapMom February 17, 2015
    • Jeff February 17, 2015
  3. Vivianne February 17, 2015
    • Jeff February 17, 2015
  4. Henry February 17, 2015
    • Jeff February 18, 2015
  5. Tawcan February 17, 2015
    • Jeff February 18, 2015
  6. KingAce February 18, 2015
    • Jeff February 18, 2015
  7. debt2retirement February 18, 2015
    • Jeff February 18, 2015
  8. Besmartrich February 18, 2015
    • Jeff February 18, 2015
  9. Happy Fi February 18, 2015
    • Jeff February 21, 2015

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