CBB Year-End Financial Report 2015 (+22.6%) : November (+2.06%) December (+1.51%) Net Worth Update



We anticipate our year-end financial report like little kids because we want to see if our predictions were accurate for the year.

At the beginning of 2015 we predicted we would be sitting on $700,000 of net worth by the end of 2015. Although we track our finances all year and can make changes as we go it’s always nice to find out if our hard work has paid off.

As we treat our finances like we are running a business it is only fitting that we spend some time talking about our year-end financial report for 2015. No we aren’t the Donald Trump’s of Canadian budgeting but we certainly take our finances seriously.

What is in our year-end financial report?

Numbers, that’s what. Our year-end financial report will tell us just how well we were able to save money, reduce debt and how our investments did for us over the course of the year.

Not every year will be the way we dreamed it would be but if we are headed in the right direction towards our financial goals we know we will get to where we want to go eventually. Even though we don’t have all the answers to becoming financially free what we do know is that frugality should be a part of everyone’s life in some way.

In 2014 we were fortunate enough to pay our mortgage in full and burn the mortgage papers once and for all. It has been an exciting almost 2 years of being mortgage free because of the extra money which attributed in part to our net worth increase.

Although we thought that we may sell our current home and move into a bigger home that isn’t a reality at the moment. We’ve had a few people ask us about selling because they want our house but for now with all the renovations I need to get done there just isn’t enough time. Time is always an issue in my life.

In the Spring, Fall and Winter 2015 I saw myself back at my second job where I was pretty much working full-time hours even though they didn’t exceed more than 16 hours while at work. While at home I still had piles of work to do on occasion so most days I felt like I was working from home which was a nice break. I’m hoping that things will change in 2016 where I can then cut back to one job and spend more time at home with my family. That might put a delay in our financial goals but that’s fine, family first.

Some of my fans ask how I am able to work so much, be a dad and blog and the answer is making sure I’m somewhat organized (I can do better). Even though I forgot to write the November net worth update that just goes to show that not being prepared and ready to go with an agenda can really put a damper in any schedule. If you have lots on your mind you can also make errors which is what happened to me. With Christmas and a toddler who is turning 16 years old  instead of 16 months old it was a busy month for us.

Our final December 2015 Budget Update certainly showed us some areas that we needed to improve on but it was what we expected. Overall, financially we thought that we would spend more money on our toddler in 2015 but to be honest it wasn’t as bad as we had anticipated. Most of what he needed was donated for free or purchased at a second-hand shop or from Facebook auctions and Kijiji. We used coupons for formula and collected rewards points when we could.

This year however I’m going back to basics and making sure I mark everything on the calendar that I need to get done rather in my book where scribbles tend to get lost. The problem is that I’m old-school sometimes when it comes to some things. I find it easier to just open a book then to open a computer and load a document to fill in information. I don’t have a smartphone either so no apps for me. When you spot and error or a problem it’s nice to sit down and think about the best rational way to solve the issue.

In terms of investing for 2015 I was fortunate to dump a load of cash into my RRSP as I have plenty of room to catch up. I will likely do the same in 2016 and roll any income tax return back into my RRSP. I don’t add much to my TFSA at the moment until my RRSP is caught up but there is a monthly contribution.

My wife on the other hand is up to date with her TFSA and RRSP contributions for the moment which is great as it’s one less thing to worry about. Our son had a great year financially with over $2000.00 saved in his PC Savings Account and his Registered Education Fund (RESP) maxed out for the year.

Things are projected to change this year so I’m just going to go with the flow and see how it all plays out. Sometimes getting ahead of yourself may be a curse. Below I will go into a bit more detail with the numbers from 2015 in the year-end financial report.

Thanks for dropping by and I hope you make it to the end of this post as there is so much info that I hope you consider tracking your net worth just like we do. It certainly helps to motivate us to continue doing what we do and that is to lead a fulfilling, loving, frugal life with all the bells and whistles that we can snag for less.


Our Year-End Financial Report


December 2015 Preceding 12 months graph

As we track our Net Worth growth we have started to see a trend that shows the more we save and invest the more our Net Worth grows. In fact, from December 2014 to Dec 2015 we actually had our biggest 12 month increase ever.

In December 2014 our Net Worth was $629,426.78 and $771,722.42 in December of 2015. That’s an increase of $142,295.64 in the 12 month period. We don’t bring in that kind of money as income from our jobs (after taxes and expenses) so the rest of the money came from increases or gains in our investments.

We are starting to see our money work for us. Eventually it would be nice to see our investments create enough returns that it would be like having another income. It’s all well and good working hard for your money, but your money also needs to work smart for you.

So to answer our prediction at the beginning of 2015 of “We should hit the $700,000 mark by the end of year” was wrong. Way wrong! We actually out-performed any of our expectations far better than either of us had anticipated.

Expressed as a percentage we actually managed to see a 22.60% increase for the year. That’s good going considering that growth in a bank only gives you 2-3%.

It’s not all easy money though, working 2 jobs helps the money situation but the amount of home time is terrible. I’m not in my second job for the money, although it is nice. The reason I have 2 jobs is the fact that I’m trying to secure a different path for my future and the future of my family. The second job is a dream job which I can hold until retirement. I guessing sacrifices have to be made sometimes but like I mentioned hopefully this will change soon.

Overall, we had a great year and we are forever thankful for what life offers.

How was your financial year?

Was it what you expected and what will you be doing different this year?


Our net worth 2015



November 2015 Networth Losses and Gains

December 2015 Networth Losses and Gains

RESP Contribution 2015: $208.33 a month.

Even though nothing wildly exciting happened in these two months you can see side to side that the investments can have a good month followed by a rather mediocre one. The only reason the net worth made a size-able jump was the injection of cash from working.

For the forthcoming year, I will not alter the house value even though the current going rate around here seems to have jumped $50,000+. I’m still mindful of a house price correction.

The vehicles however, will not get away with a correction. They will be reduced yet again as they get another year older. Eventually they will be worth nothing. That’s depreciation for you.


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.

We credit the growth of our net worth due to patience, perseverance, using a monthly budget and not giving up. Your numbers may go up and down but don’t let the numbers scare you rather understand why and move on.


Canadian Budget Binder Budget Spreadsheet

If you would like to use our budget I offer a FREE downloadable budget which I created and that you can use at home just like we do. I don’t charge for it because I want you to save money not spend more!

2014 Free Money Saving ToolsEnjoy and let me know what you think.

There are tonnes of other free printable lists offered at Canadian Budget Binder to help you achieve some of those financial goals and build your net worth.

Now… what you need to do is determine just how much net worth you actually have and go from there….


Determining net worth


Figuring out net worth is fairly easy as long as you know your personal numbers or monthly finances which means you need to do your homework. 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.

How to Determine Net Worth?

Net Worth = Assets – Liabilities


Calculate net worth


Do you know how to calculate your own Net Worth?

Now you can stop asking yourself the question, how do you find out your net worth? Why? It’s easy to determine. We like to calculate our net worth every month so we know if we are still on track. Some people calculate it yearly or quarterly. It’s really up to you and how informed you want to stay when it comes to your financial health.

Net Worth is essentially an estimate and not everyone uses the same type of figures. Some people don’t include vehicles like we do or they may leave out the assets inside the home like we have. It depends on what you want to calculate or what you can sell today and make money on.

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


Why you should set goals


Setting goals are the only way we work towards achieving what we want to get done as a couple around the house and in our financial life. I know that without them we would be flying by the seat of our pants which wouldn’t work for us.

I find it’s much easier to be held accountable when I share what we need to do with all of you. Yes, my wife refers to the list when she asks what I plan to do next. I’m not sure if that’s a good thing for me or not.

In the graphical representation below, I have used excel to provide a prediction based on the past years monthly net worth figures.

Using figures from our actual net worth gains over the past 12 months (the solid blue line) it has suggested that by the end of this year (2016) we should be just shy of $900,000.00. This can change over the course of the year and is only a prediction based on known historical figures from our finances.

According to the chart, we should hit the million mark in June 2017.

This is nice to know but anything can happen over the next year. Hopefully with some careful planning we can achieve this goal and go beyond it.

Do you set goals for the year?

Forecasted Net Worth as @ end of December 2015


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.


We all have different financial 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, suffered job loss, fell ill or was injured on the job etc. but you can’t let that stop you from achieving your financial goals.

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 have a negative attitude towards their own financial situation.

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


Net worth updates 2015


Below you can click the links to read past 2015 net worth updates to see if we were on target or if we struggled with some of our numbers.

In the last year since December 2014 our net worth according to our figures has grown $142,295.64

December 2015 $771,722.42 – December 2014 $629,426.78 = +$142,295.64

That’s all for this months net worth update but please check in at the beginning of February 2016 to see how we made out in January 2016 and what has happened to our finances since.

Do you track your net worth?


Remember: “It’s Not About How Much Money You Make It’s How You Save It

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