Net Worth Update January 2015: $12,753

Welcome to my official first monthly net worth update!

As promised, I will now be posting a monthly update of my financial progress on Million Endeavour.

To sum it up real quickly, I am slightly behind on my financial progress thus far but I am hoping to have an excellent 2015. Here is how my numbers look for the month of January:

Assets: $31,161

Cash: $1044

  • Personally, I don’t like to keep much cash and I would allocate most of my income towards my investments.

TFSA: $29,083

  • $9,000 of contribution room left.
  • My energy and financial stocks which holds roughly 40% of my portfolio has taken quite a hit recently.
  • I have also decided to make my TFSA a dividend growth portfolio.
  • Targeted portfolio value by the end of 2015 is $44,500.

RRSP: $1,034

  • My RRSP is configured to a TD E-series Mutual Fund account.
  • The focus right now is to maximize my TFSA before making any more contributions toward my RRSP.
  • I am also unsure of my contribution room for 2015 now that I have a defined pension plan.
  • Contribution room remaining for 2014 is $7,000.

Liabilities: $18,408

Student Loan: $18,185

  • Interest rate at 5.5%
  • I am currently repaying $300 a month but I am considering lowering that amount to $200 in order to save more money.
  • The goal is to get most if not all of this loan repaid by the end of 2015.

Credit Cards: $223

  • This is my credit card expense for the month.
  • Aside from eating out A LOT, I don’t really have many expenses especially since I am still living with my parents.

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18 Responses to “Net Worth Update January 2015: $12,753”
  1. Henry - Living At Home January 18, 2015
    • Jeff January 18, 2015
  2. Chris January 18, 2015
  3. Jeff January 18, 2015
    • CheaPMom January 19, 2015
      • Jeff January 19, 2015
  4. Tawcan January 19, 2015
    • Jeff January 19, 2015
  5. B January 21, 2015
    • Jeff January 21, 2015
  6. debt2retirement January 29, 2015
    • Jeff January 30, 2015
  7. J. Money February 2, 2015
    • Jeff February 3, 2015
  8. Jeff February 9, 2015
    • Jeff February 9, 2015
  9. Jeff February 11, 2015
    • Jeff February 11, 2015

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