Canadian Budget Binder April 2012 Net Worth Update!
Another month has come and gone and we are so happy with the way everything has gone. We still have not made any progress as to where our money will go but we have talked about our options. We are also continually updating our Canadian Budget Binder Spreadsheet which has helped us see a clearer picture of our finances each month.
Who are we?
My name is Mr.CBB and I’m the guy that does all the talking around here as I rather enjoy the conversation!
Together we are…….Canadian Budget Binder…
We’re a married Canadian couple in our mid thirties with no children living in the Greater Toronto Area. We post our finances and budget for all to see although we remain anonymous.
If you want to save money, if you want to live a comfortable retirement then you have to spend less than you make, pay off your debts and build a retirement savings that will suit your projected retirement lifestyle.
Has April been good to us?
Well let’s take a look at our Financial Health.
Our Monthly Goals
- To Save as much as we can now while we are young to save for retirement while enjoying the present.
- To spend less than we make each month in our budget
- To improve our Grocery Budget with The Grocery Game Challenge
- Canadian Budget Binder Assets:
- Chequing Account Cash: $460.00 We prefer to keep a buffer in the account. As I type this there is currently $613.12
- Savings Account- $1421.39 This is the account we use for our projected expenses
- Emergency Savings #1-$77,084.68
- Emergency Savings #2-$63,520.00
- Pension(s)- $23,974.58 (part of this goes up and down as it is invested in the UK and In Canadian Investments and depends somewhat on exchange rate)
- Registered Retirement Savings Plan (s) (RRSP) $54,820.89 ( this went down)
- Tax Free Savings Account (s) (TFSA) $13,947.40
- Vehicles-$15,000.00 – This is the estimated value of both our vehicles if we sold them today.
- Principal Residence- $329,000.00
Total Assets: $579,382.06
Our Liabilities:$ 161,744.90(mortgage)
- 17.66 years left to pay 3.99% 5yr fixed rate (Goal is to pay off by end of 5 year term 2014)
- $579,382.06 (Assets)-$161,744.90(Liabilities) =$417,637.16
- Our Total Net Worth: $417,637.16
- Our Net Worth in April $417,637.16- March $413,744.54 =$3892.62 Our Net Worth since March has gone up by $3892.62.
Do you know how to calculate your Net Worth? Here is how we calculated the above Mr CBBs Networth Calculator sample for April 2012 and you can calculate your own using our Free Tool Networth Calculator (Canadian Budget Binder 2012)
You can Follow me on Twitter HERE or Facebook HERE. Come join the conversation.
Related articles
- Our Canadian Home-Tips to Save for a Down Payment (canadianbudgetbinder.com)
- April 2012 Canadian Budget Binder Family Budget Update (canadianbudgetbinder.com)
- March 2012 Canadian Budget Binder Budget Update (canadianbudgetbinder.com)
- How We Designed Our Budget Step 8- Knowing Our Coupon Savings! (canadianbudgetbinder.com)
- Net Worth Update March 2012 Canadian Budget Binder (canadianbudgetbinder.com)
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[...] April 2012 (+0.94%) [...]
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[...] Net Worth Update April 2012 CBB- Life is Good! (canadianbudgetbinder.com) [...]
[...] Net Worth Update April 2012 CBB- Life is Good! [...]
[...] Net Worth Update April 2012 CBB- Life is Good! [...]
[...] Net Worth Update April 2012 CBB- Life is Good! [...]
I love it!! The budget allows you to track your spending, create a savings and know your total net worth. When you know better you’re able to do better. With that said, congrats on knowing where your money is going and what is your TRUE number.
Fantastic! I’m very aware of what we have and what we owe but I’d love to start adding a net worth graph as a motivator. Thanks!
Most people are just that ‘aware’ but it’s nice to see the numbers in front of you… I know I love it but decided to make the calculator so it was easy every month when I did an update. Thanks for your comment TTH! Mr.CBB
Thanks for sharing your numbers. I’m up about 1% as well : ) but not nearly as much as you in real dollar terms. That’s an awesome goal to pay off your mortgage in such a short period of time. Good luck.
Thanks for sharing! I just had a question, I see you don’t keep all that much in your chequing account, was wondering if you have to pay any bank fees as a result? For my bank, if I keep a certain amount in my account (which is quite a bit more than you have in yours), I am not charged any fees. I have been with the same bank since I was about 6 years of age and have luckily never paid a bank fee. I also have made my budget and am trying it out for the first time this month.
Well first off congratulations for putting a budget together and trying it out! Let me know how you make out with that. I’m sure you will never want to look back after you see how it helps your finances out. In terms of our chequing account we are with Presidents Choice Financial so we don’t have to keep a certain amount in the account. President’s Choice charges no fees and cheques are free as well. The wife has been with them for 12 years now I believe she said. I’ve been with them since I moved to Canada in 2007, actually they allowed me to open my account before I moved to Canada so hats off to them for helping me out! Mr.CBB
That’s great, thanks for answering my question. Now that I read it I remember you mentioning before about being with them and not paying fees. I may just have to look at perhaps openning an account with them. Will have to see what their interest rates are.
great to see an example. I have just only started budgeting, but I guess this will all come..
It will all come in handy at some point in the process Wendy. Keep at it and don’t look back look forward to exciting goals and achieving them! Mr.CBB
I agree with SBLB! I’m still working on monthly budgets right now
I’m sure you have all the tools and an awesome team at CBB to help you out! Cheers Sandy! Mr.CBB
Always helpful to actually SEE an example! Thanks CBB:)
Thanks, I thought it would be important to show how we arrive at our numbers so it’s easier to follow along. Cheers and thanks for the post
Mr.CBB