Net-Worth Update November 2015: $34,478 (-$3,326/-8.8%)
Welcome to November everyone!!!
This month showcases my FIRST negative overall progress since the start of my net-worth updates back in January.
The reason for this dip was because I had made some big purchases. The first was my orthodontic treatment that I had decided to undergo. Although my insurance will cover 50% of this cost, I had to put up $6,000 up front. Additionally, I had also acquired the new 6th generation Ipod Touch. It has been a while since I had treated myself to a technological upgrade.
Anyhow, here are my numbers for the month:
Assets: $50,452 (-7.3%)
Cash: $6,448
- I took $6,000 out of my chequing account to pay for my orthodontic treatment.
- The plan is to start saving up in my chequing account and to contribute it to my RRSP by next year’s deadline.
TFSA: $40,301 (+0.9%)
- Progress in my TFSA is starting to slow down. This is why I am going to implement my small ball investing strategy in hopes of better progression rate.
- No major movements in any of my stocks. I plan on updating my portfolio on Million Endeavour soon.
RRSP: $1,327 (+0.9%)
- My RRSP is registered in TD e-series mutual funds. I plan on switching over to a self-directed account and maybe picking up a few U.S stocks.
Pension Contribution: $2,376
- Even though I have transferred to a new department, I will still be required to contribute to my pension fund. I will update the amount when I get my summary.
Liabilities: $15,974 (-4.0%)
Student Loan: $15,964
- No update on my student loan this month. I am still repaying $300 per month at a 5.5% interest rate.
- Especially now that my cash portion took a hit, repaying my student loan in one lump sum is off the table now. I am not going to withdraw from my TFSA just to pay off the loan. I’ll see where this goes from here.
Credit Card: $10.15
- I had just paid off my credit card last week. This is why my credit card balance is so low.
- Before I had paid it off, my credit card balance included my purchase of the Ipod and a few online course from Udemy during the Black Friday.
Total Net-Worth: ~$34,478 (-$3,326/-8.8%)
One Response to “Net-Worth Update November 2015: $34,478 (-$3,326/-8.8%)”
I’m having orthodontics treatment too. Hopefully, everything will be done by June next year. 🙂 Straight teeth people are tend to be more trustworthy and tend to be rich and powerful. I’d say we are well on our way.
Back in the day, when the iPhone was hard to unlock, when people want to switch carrier and it wasn’t unlockable, they’d sell their phone for cheap as an iPod alternative with a little bit more functionalities.
Selling used iPod and iPhone was one of my side hustle a few years ago.
It seems easier to organize songs in an iPod vs iPhone. But I’m curious why you don’t choose to buy a used iPhone as an iPod instead of buying an iPod?