CBB Net Worth Update~November 2012

Estimated reading time: 6 minutes

I can’t believe November has come and gone so quickly, now it’s time to get into the festive mode and think about our yearly goals 2013.

By posting our CBB Family Net Worth and Budget Update once a month, here is a means to motivate ourselves to continue down our financial path.

CBB November 2012 Net Worth
CBB November 2012 Net Worth

Sharing Our Net Worth

We are a Canadian couple who make an average salary and want to know where we stand each month.

We want others to see that you don’t have to make six figures to have a Net Worth.

There’s no race to the finish line because no one knows where that line is.

You could die tomorrow, or you may live until you are 110 years old.

What does Individual Net Worth mean?

Net Worth is a snapshot of your financial health, like a picture.

It’s a total of the value of your assets minus your liabilities.

Posting our financial numbers is about showing others how budgeting has worked for us.

Who’s the Man behind Canadian Budget Binder?

My name is Mr. CBB, and I’m the frugal guy who does all the talking around here.

Yes, some women think Frugal Men are Sexy, and I’m here to show you how to spot one!

Well, not really, but I’m sure you will have a good idea just by reading posts I’ve written around this blog.

There is also a Mrs. Canadian Budget Binder, but she does not blog here. Together, we are Canadian Budget Binder.

We started our Canadian Budgeting Journey to lead us towards a happier financial future.

No one handed us money on a silver platter, and we earned every penny while returning to school twice along the way.

Toss in a massive move from the UK to Canada, and you can see life has had its ups and downs for us financially.

There are financial implications when you move across the world, something I wasn’t prepared for.

I enjoy learning from others who want finance and take care of their future before the future takes care of them.

No one will have the magical answers for your financial situation; you must figure out what’s right for you.

I can’t tell you what’s right or wrong; all I can do is tell you what worked for us.

After all, I’m not a finance professional, and you should consult with one when dealing with your own money, just like we do.

I blog at Canadian Budget Binder to encourage, motivate, and help others who think that budgeting is a waste of time and can’t help them out of debt.

I also like to connect with people who believe a budget is needed to get back on track and are optimistic about getting back on track.

If you aren’t severe or don’t understand the reality that budgeting is necessary, then don’t waste your time.

It doesn’t matter if you owe money; you need to see the numbers every month.

Don’t make budgeting seem only for people not in debt because that’s the wrong way to perceive it.

How To Determine Net Worth?

Realize that no one can snap their fingers and make your debt disappear.

Figuring out your Net Worth is not hard.

It’s just a step in the financial process that comes together if you have all your numbers ready.

When budgeting, anything is possible; we are proof of that, although we still have a long way to go in our journey.

These are our numbers and our goals, not a means of comparison towards your own goals.

We don’t care how much money others make or if their net worth is more as it’s not a competition; it’s about hope.

It’s about hope that we can follow a financial path that is not so stressful, whether you have thousands or millions in the bank.

I hope what I post for you, the fans, about our experiences, perhaps will help guide you along that financial path towards debt freedom.

Sometimes, seeing our numbers is what it takes to kick it into high gear like it did for us.

I encourage you to learn your numbers and make them work for you.

Money is Money, Debt is Debt, A Budget is SMART-Mr. CBB

Canadian Budget Binders Financial Health

I received a question last month about our Emergency Savings Account.

In the past, I have mentioned why it is so high, but I want to go over that again for those wondering.

The money in our Emergency Savings account is the money we will use to pay off our mortgage in full in early 2013.

So there, now you know.

November 2012 Net Worth

Let’s see how we did in November!

November Net Worth Update 2012(1)

Note: Double-click Photo to see it full size as I can’t make it any more significant for some reason.

In October, when I did our Net Worth Update, I did it a few days into the month, and I made an error, sort of.

I used the figures a week into November to calculate our net worth, which made October artificially high and November artificially low, including the mortgage.

Silly mistakes, but we’re all human, and mistakes happen.

Although I try to get this done by the end of the month, sometimes I have to push it back.

I accidentally took the wrong numbers, which I caught this month.

Remedy: So this doesn’t happen again.

If the post is late, I will pull the numbers at the end of the month so when I write the center, the numbers are accurate.

This will be a goal for next year, although this was the first time I made this error.

I also lost money on my pay this month when I took a week’s vacation, as they used my wage from last year, which was half of my salary this year.

Starting in January 2013, this post will change as we will be paying off the mortgage and investing more of our money.

I may go to percentages instead of dollar increase/decrease unless you still want to see the $$ figures. It’s only up from here on in!

Discussion: Do you know how to calculate your own Net Worth?

Why not go ahead and calculate your own using our Free Tool Net Worth Calculator (Canadian Budget Binder 2012)


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  1. I love reading reports like this. You guys are doing quite well financially! It looks like you have no debt but a mortgage, and the house seems well paid down. Plus you’ve got a number of different accounts being funded. That’s an incredible amount of Emergency Savings!

    1. Hi,
      Thanks for dropping in! The ES savings will be to pay off the mortgage in the New Year… 4 years into our first home so we are pretty happy about that. It’s all about the spending less than you earn but you already know all that stuff!! Great to chat to you.. I’ve subscribed to your site so I don’t miss any posts! Cheers Mr.CBB

    1. You should I would love to see it. I never compare I just like to see what others do to get their numbers moving up.. I could care less who has more or less .. motivating and inspiring others is what it’s all about!! Cheers Holly!

  2. Your hard work is paying off! I do know what my net worth is right now, and for my age I’m not that happy with it. But I need to kind of stop focusing so much on what I don’t have, and think about what I do have, while still inching my way to my goals. If I get too caught up in all that I’ll go crazy.

  3. Nice job! I wanted to comment on the commercial video at the bottom. For me (not sure if it plays this for everyone) it showed “All Natural Alexia.” Of course, as a blogger, I immediately thought it said “All Natural Alexa” and was a spoof video. Wouldn’t that be funny? Alexa….all the ranking systems but without the real flavor of truth…..ha! Okay, maybe that 2nd cup of coffee wasn’t such a great idea…..

  4. Thank you for sharing your numbers so candidly, Mr. CBB. I know this must be a severely hectic time of year right now so the time you dedicate really is appreciated. It is inspiring and I can not wait for my balance sheet to look similar to yours one day with continuous diligent saving.

    1. Thanks Jennifer it is alot for me right now but I’m pacing myself. The blog has exploded and is very busy but that’s nothing to complain about I dig my fans! Keep at your goals and all I can say is “never give up”.. you can do it! Mr.CBB

  5. If you are looking for the book mentioned try asking about inter-library loan. If your branch doesn’t have it they can likely get it in from another library. I’ve done that for other books….. Doesn’t cost to ask or get the book in from some where else…..

  6. Excellent work on the NW. I haven’t calculated ours in some time, more focused on tracking the dividend income in the TFSA and unregistered accounts. Stay tuned for an update next week 🙂

    Jealous about the $155 K left on mortgage. We have more than that, but we just bought this place 2 years ago.

    Continued great work!

    1. I want to know more about the TFSA and dividend tracking. Do you manage the TFSA on your own? What do I need to do? The mortgage is gone as of Jan using our Emergency Savings to pay it off.. so we will have more money to use for investments. Cheers Mark..

  7. That is very exciting that you are close to zero mortage day. I was curious why you chose to save the amount and make a lump sum payment rather than just paying extra every month until it’s gone. We will be starting with an agressive mortgage payoff next year, and I am wondering the best way to go about it.

    1. Good Question, partly because we weren’t sure if we were going to pay the mortgage or buy a second investment home the other part.. well we just weren’t sure. We do pay an extra $417 a month every month on it though.. so we are paying extra just not as much as we could. We will suck it up to indecision which can have pros and cons I guess. Cheers Kim!

  8. It’s great that you calculate your net worth monthly. This year I’ve been trying it quarterly and it just doesn’t work for me. Next year I’ll try monthly that way I can make the move quicker if things aren’t going my way. Thanks for the inspiration and grats on the increase in Net Worth.

    1. Thanks, yes we do it monthly as we are on a monthly need to know basis. It gives me that time to take a look at our investments and budget to really know what’s going on. Cheers mate for dropping in. Mr.CBB

  9. Great work Mr. CBB, even with the mistake. 🙂 We pull our numbers at the end of the month to see where we’re sitting financially. That’s awesome you’ll be paying off your house early next year! Do you have a specific date that you’ve chosen? Do you have any plans to celebrate once having it paid off, or will you just keep plugging away at the saving?

    1. Hey John,
      No set date as of yet but we’ll get it done.. looks like about $2600 to break the mortgage but still worth it. NO celebrations that I’m aware of happening but will likely top up TFSA, build up Esavings and my RRSP is lacking but I do hate the bloody things… maybe I just need to know more. Cheers

    1. Hi Sherry,
      I talked about it in a few posts but that’s ok. I thought I would clarify again for those that missed the posts. I know it looks like we are hoarding money in savings but we could only dream that was a problem lol. Thanks Sherry! Mr.CBB

  10. Even with the mistake, it still looks pretty darn good. 🙂 Thanks for clarifying about why your emergency funds were so high. Nice work with paying off your mortgage in full! Your budget for the next year is going to look pretty fantastic without the mortgage payments, hey? Do you have plans for that extra money?

    1. Thanks Vicky,
      Yes we are renovating our house, build up the ES again so we have at least 6 months ES, and we are behind on TFSA and I’m WAY behind on RRSP. The money won’t sit that’s for sure lol… I wish I knew more about investing on my own though.

      1. Have you checked out the Elements of Investing yet? I wrote that just for you!! 😛 Honestly, put it on hold at the library right now! It is a super quick read (think of it as another blog to add to your crazy ready list!) and check it out.

        I’m going to hold you accountable like you hold me accountable for my groceries. So, you have until the end of the month. I will nag you until then. I assure you, I can be relentless. 🙂

          1. Haha, ok! If I had it on my bookshelf, I would ship it to you right away! I will keep an eye out for it; maybe find it in a used book store or something. I can’t believe your library doesn’t have a copy. I wonder if libraries take requests for things you want to read. 🙂

          2. Who is the author again.. I need to find that post your wrote on your site.. when I can find 5 minutes to blow my nose.. life is getting SUPER busy with Christmas, blog and work.

  11. Yeah, mistakes happen! I made sure to update our net worth right at the end of each month once all payments have been made. It also coincides with the completion of that month’s budget and the start of the next one. Another 1% gain on the net worth isn’t anything to sneeze at (even if it might be low). Great work!

    1. Ya silly mistake. The blog has gotten so busy and working on full time it got pushed back and hence the error. The most important part is catching it and setting some rules down so it doesn’t happen again. Cheers Jason!! Mr.CBB

  12. Mr CBB, your little hiccup number wise is the reason it takes me so long to prepare my net worth statement. The year end is the worst for me. I have to wait for about 5 private companies to prepare their year-end valuation and that can be several months after Dec 31st.

    I find the numbers meaningful & would hate to see you give them up in favour or percentages only, but that’s just me.

    That holiday pay situation sucks…it’s so hard to absorb a big loss at this point in the year. I have no doubt you’ll roll with the punches though & never be caught off guard that way again. Thanks for being so upfront about your November…the good, the bad and the ugly!

    1. Hi Mary,
      Yes last year to this year with my wages almost doubled and being new to Canada and the workforce I forgot they use last years wages so I lost a bit there. As for the error, it’s better to be upfront and honest with mistakes and to come up with a solution so they don’t happen again. People need to realize that we are all human and owning up to mistakes is not a bad thing we all make them, it just makes us stronger. Thanks for your input with the numbers and percentages… Mr.CBB

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