Our Net Worth

Finances are like moon phases: February 2014 Net Worth update (+1.25%)

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Moon phases of our net worth financesWATCHING INVESTMENTS GROW


Like moon phases, our finances including Net Worth is constantly changing and this month is no different.

There will always be ebb and flow in everyone’s finances, sometimes purely by the choices we’ve made.

In the CBB household we didn’t have an awful lot left over as spare cash from last month as we had city taxes and pet costs leave the bank.

However, there was positive news on the finance front in the form of yet another increase in the exchange rate due to the falling dollar.

This increase has led to our UK funds exceeding the total of what is left to pay on the mortgage and with quite a chunk of money left over.


Moon phases


We are definitely moving into our Waxing Gibbous phase where our finances and what we have set up are starting to fall into place.

The Full Moon phase will be when our mortgage is paid off and we can move on knowing that fact that we will be carrying zero debt. In the very near future we have to decide what we will be doing with the spare cash that is left over once the mortgage is paid off.

The money that we would have spent on mortgage payments needs to go somewhere and we are struggling to weigh up which investments to place it in.

There is another choice if investing is a little too sensible, expensive renovations that include the basement and kitchen. A visit to our financial advisor gave us good news about our investments, the returns were around the 12% mark.

There were of course variances between certain investments but they were good returns considering the market ups and downs and the fact we’re quite modest in our aggressiveness.

We’ve reached the $100,000 mark in our investment portfolio with our financial advisor which then leads us to lower costs in managing the funds as we will change over to a fee based system.

You may have read from our previous Net Worth update in January that we included an increase in our principal residence.

To put an actual figure on that we asked our real estate agent to present us with a calculated figure based upon comparative market analysis.

The estimated value for our house is $365,000, which is great news for us although one increase a year is more than enough for our egos. That is a $100,000 increase in value in just under 5 years of owning the home. Location, Location, Location.

We have therefore decided to leave our house value at $345,500 as of the January Net Worth.

How did you make out in February?


Understanding net worth


What Does Individual Net Worth Mean?

Net Worth is a snap shot of your financial health sort of like a picture or debt to net assets. In simple terms it’s a total of the value of your assets minus your liabilities.


Determining net worth


How to Determine Net Worth?

Net Worth = Assets – Liabilities 

Figuring out net worth is fairly easy as long as you know your personal numbers or monthly finances.

Net Worth is simply adding up all your assets (what you own) then taking away your liabilities (what you owe) which will give you a net worth number.

Understanding your net worth will help you determine if you are on track to meeting or beating your personal financial goals. It doesn’t get any easier than that.

Do you know how to calculate your own Net Worth?

Now you can stop asking yourself, how do you find out your net worth because it’s easy to determine.

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




Below are our 2014 target goals some of which are the same from 2013 and many which are new for 2014. I don’t like to move on to new goals if I have other goals that are unfinished but I also like breathing room and play time if you know what I mean.

I hope by posting them each month it motivates me like it has this past year to get stuff done and reach our target goals with some form of ease although nothing in life is that simple.

I find it’s much easier to be held accountable when I share what we need to do with all of you.

Do you set goals for your year?


Our short-term goals 2014


  • First is to pay off our mortgage in full as of April 2014. :)
  • To renovate the upstairs bathroom
  • Re-model the spare bedroom (ie: decor, furniture)
  • Start working on putting in the new flooring in the living and dining room
  • Install a central vacuum system
  • Purchase a new washer and dryer
  • Purchase all new kitchen appliances
  • Purchase 2 medium-sized freezers
  • Finish the landscaping in the front and back yards.
  • Invest more in our TFSA, RRSP etc.
  • Continue to meal plan, create new homemade meals- I’m always whipping up something new in the kitchen (check out all my new recipe index on the blog)
  • To  sow and grow more vegetables/herbs in the garden to save money
  • Learn more about passive income
  • To read a new personal finance book
  • Learn more about Search Engine Optimization and blogging and how to manage my blog.


Our long-term goals 2014


  • Finish renovating the entire kitchen
  • Finish renovating the entire master bathroom
  • Save for a holiday
  • Start planning basement renovations (bathroom, bedroom, family room, laundry room, office, storage area.
  • Look at new ways to invest our money ie: rental units
  • Continuing to educate ourselves on personal finance and investments
  • Continue to network with other like-minded people
  • Continue in my new career in hopes of it becoming long-term permanent


Our financial numbers


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 to others target goals.

We don’t care how much money others make or if they have a high net worth or if it is lower than ours as it’s not a competition.

I hope our experiences perhaps will help guide you along your financial path working towards debt freedom.


Different paths


Not everyone has the same path in life. Some of you may have had to start over like I did or go to school a second time and now have OSAP loans to pay back.

Others may have divorced, lost money in the stock market or other investments, lost a job, fell ill and so on but you can’t let that stop you, I didn’t.

Some of you may have been given trust funds, paid-for homes, paid educations or perks in life that give you a financial kick-start and that’s OK too. Remember what I said, “It’s not about how much money you make, it’s how you save it”.

Focus on you and don’t let the evil eye of money jealousy or keeping up with the Joneses cloud your vision. No one cares about your money as much as you do so don’t waste your energy trying.

The only reason people accumulate wealth is because they know how to save or invest it wisely even if they did inherit money or win the lottery.

The smallest improvements should mean big strides in working towards reaching your goals.

Sometimes we have to fail in order to learn and we’ve all been there. Money can be an evil force for some people especially those who are negative towards their own situation.

I urge you to be optimistic and little by little with determination you too should see improvements, that is if you want that to happen.


Our net worth


We are always looking for ways how to increase our savings and by tracking our net worth these numbers below show us how well we are doing in terms of meeting our target numbers or what areas we should put a bit more focus in.


net worth update February 2014


Net worth updates 2014


Below you can click the links to read past net worth updates to see if we were on target or if we struggled with some of our numbers.



networth feb proceeding 12 months

That’s all for this month’s Net Worth update. Check in at the beginning of April to see how we made out in March and what has happened to our finances since.



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Photo Courtesy of: Freedigitalphotos.net/Exodus


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  1. Thanks for the encouragement. It’s hard to get started when you’re starting from the bottom and it seems so impossible. I’m working hard on my savings and I can’t wait to see some results!

    1. We got it at a reduced price because of repairs that were needed as she was an old lady on her own plus we live in a sought after area in our city which helps lots. Most houses shot up quite a bit around here and probably why we won’t bother moving. No point paying another $100k for 500 sq feet.

  2. I had to start over again, like you, a decade ago when my marriage fell apart and I am almost at the end of paying off the debts I accumulated from reeducating myself and partially living on credit while I improved my skills to make more money. I am pleased to be nearing the end of that debt but I find myself very behind in the retirement savings for a person in my late 40s.

    I work in health care and the cycles of the moon are very important to me. Scientists will tell you otherwise but people’s emotions and mental stability change when the moon is full or approaching fullness. We all brace ourselves for that stressful time of the month.

    1. Starting over is what put me behind as well but it was the best decision I ever made because now I am working at 2 jobs that I never dreamed possible for me. Sometimes in life we have to take risk and see where it takes us. Don’t fear you will catch up just believe in yourself and be mindful of your finances.

  3. Wow – your net worth is making great progress, congrats! Any tips for a new blogger? Regarding a central vacuum system if you need any pointers let me know as I just finished installing ours. Sounds like a good idea for a blog post 🙂

    1. Thanks Dan,
      Once the mortgage is paid off we have plenty use for the money that’s left over as we have catching up to do with investments, renos, maybe take a trip finally and who knows what else. It may seem like lots left over but in the grand scheme of things it’s not. Sure if we had nothing to do it would money sitting around doing nothing but we know that we will need it right away so there was no point investing it until we knew for certain the mortgage was paid and other areas of our life were attended to. Our UK funds just went up with the exchange rate which also helped us. We will see how it works out. Hmmm the central vac… ya that’s my next $1000 project haha.. they are either $1000 or $5000 projects and up aren’t they. Sure that would be a great blog post. I did one on the water softener and I”ll likely review the central vac we buy as well.

  4. All in all things are looking good in your area!! One thought once the mortgage is done would be to use that money for the retirement funding. Or use it for the home renovations, or the second house to rent out, a new to you vehicle….. I’m sure these are ideas floating around your head as well as a fee others. Another thought would be to put a percentage of the mortgage payments you are no longer making to the top few ideas….. So much to the house, so much to retirement funds… And so on.
    As for your goals on search engine optimizing, have you read the series on that from Mo’ Money Mo’ Houses???? She took a course on this stuff and wrote the articles as a review to help her study…. I found them quite good….

    1. I think that is certainly where the money will be going as we have renos to do, investments to catch up on and potentially looking into an investment home. Thanks for the heads up Christine… I’ve read so much about SEO my brain is overflowing with info. Why did you get intrigued to read them?

      1. I have been trying to figure out a lot of this investing stuff the last while after we almost lost hubby in 2012. We have a few RRSP’s still but I have no clue about what to do with them or anything. Asking hubby doesn’t go well as he tends to ramble on and off topic and I end up more confused than ever. So I’ve been trying to figure things out, which is one of the reasons I’ve been flowing Jessica. She took the course and wrote about it in her blog…I flipped them to the younger boy for his information on blogs so I remembered reading them… Long answer I know…..

  5. I’m excited to see you guys finally pay your mortgage off! Also, you want to worry about retirement- I won’t be seriously saving until I’m into my early 30’s thankfully we have almost $2,000/month freed up once (non-mortgage) debt is gone to invest so I know we’ll be fine and be able to play catchup a little.

    1. Hey Cat,
      Yes we will be very happy once it’s gone. The retirement savings is what we will be looking more into. You are young and luckily smart about finances so if you play your cards right you are well on your way. 🙂

  6. Holy Cow, those are some hefty Emergency Savings accounts! I’m assuming they’re actually invested rather than sitting around in cash? Nice increase of over 1%. I agree with both your and Mario’s statement – it is hard to remember sometimes that we’re all in very different points. I am hoping I get everything straightened out soon enough. 🙂

    1. No they are not invested. Part of it is in the UK and was invested and has since been removed with no fees and we have to bring it over and the other is in a high interest savings account. We knew that the money would go straight on the mortgage with-in the year or so and that’s why it’s so high. It will be sad to see it shrink but at least the mortgage will be gone. We are still young so we have plenty of time to catch up again. 🙂

      1. What are these “emergency savings” for? Even after paying down the entire mortgage, you will have $65k in emergency savings, which is effectively losting around $7k a year compared to your investments.

        Maybe you already have one, but I would make a very detailed plan for these funds.

        1. Not all the money left would be for investing. I think that’s great you could get $7k a year in returns. What exact funds would you be investing in to get those $7K in returns yourself with $65,000? I’d love to learn more about your investing style and how you get the big bucks! 🙂

  7. I’m really impressed by the specificity of your goals. It’s great that you’re keeping yourselves accountable that way. Thanks for the reminder that personal finance isn’t a competition. It’s easy to get discouraged by the amazing progress of all the super savy personal finance bloggers! 🙂

    1. You will always meet someone who has less or more than you in life. The key is to focus on your own goals and to be realistic with them. Everyone will have an opinion on what you should and shouldn’t be doing but do your own research. Life is a risk as is your finances so tread carefully with advice and seek out your own professional opinions. I live by that. If someone tells me they can turn my money into a fortune I’d like to watch them do it with their own first.

    1. You know many people think we are ahead but when we sit with our advisor we learn differently. I am so far behind in my retirement investing that it gets depressing. Having to put away over $1000 a month to play the catch-up game will be tough if at all possible. I don’t know how other people do it but I’m sure many people just don’t have the money to do it especially once kids start coming into the picture. I guess it also depends on how you want to live during your retirement years. There’s so much to consider.

  8. Do you have your chequing account, TFSA, and all your savings/emergency accounts with President’s Choice? Or do you have them spread out with a few different banks. I know President’s Choice is great for daily banking, but do you really trust them with all that $$ in savings?

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