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%)
- 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%)
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