Estimated reading time: 3 minutes
Discover Canadian Budget Binder’s Net Worth Update for January 2012. Learn how to save for the future and navigate ups and downs.
Welcome to Canadian Budget Binder’s first Net Worth Update of 2012.
I would like this posted by the end of each month or the beginning of the following month.
You can subscribe to my blog and get updates as I post them. I hope to have this a little more detailed as I go along.
The reality is that there will be inconveniences, and we hope to work through them and show you how you can help as well.
Planning for the future is not straightforward, but preparing for ups and downs is inevitable.
Our goal is simple: put as much by as we can now to save for the future whilst enjoying the present.
At the end of the day, we are not competing with our neighbors or anyone for that matter.
I believe once you have that mindset saving will be much easier.
You can’t compare what your neighbor has relative to you as circumstances are different, wages are different, etc.
Ultimately, work with what your numbers offer you and be happy you are saving.
No number is attached to our goal yet, as we still need to sit and talk about what we expect from retirement as a couple.
I will update you in the upcoming months.
We have two relatively new vehicles with a $0 balance, but I don’t like adding them to our net worth as they decline.
January 2012 Net Worth Assets
- Cash: $1000.00
- Emergency Savings #1-$40,460.36
- Emergency Savings #2-$15,295
- Emergency Savings #3-$48,300
- Pension(s)-$22,869.43
- Registered Retirement Savings Plan (s) (RRSP) $54,139.96
- Tax-Free Savings Account (s) (TFSA) $12,160.36
- Principal Residence- $286,844.52 at 2% inflation per year.
Total Assets: $481,069.63
House Estimate January 2012
In today’s market, the house is worth about $329,000 or more as we purchased it under market value due to repairs, i.e., painting, roof, and new floors.
I read an interesting article on the housing bubble in Canada, which highlights that Canada’s housing prices are overvalued by 29% relative to income.
This is why I aim low, and in the end, it is what it is, and that number will reflect its overall worth.
Liabilities January 2012
Our Liabilities:$164,000
- Principal Residence: Bought for $265,000- $164,000 (current assets contained in principal residence ) = $101,000
Net Worth Total January 2012
Our Total Net Worth: $317,069.63
$481,069.63 (Assets)-$164,000 (Liabilities) =$317,069.63
Discussion: How did you make out with your finances this month?
Share your comments here, as I would love to read them.
Happy Saving Everyone!
Mr. CBB
ceagrettis is dangerous, anyone will say that, even smokers. Electronic ceagrettis are a more healthy way to smoke and cut down anxiety and anxiety issues. They still emit nicotine,