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)
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