I asked my twitter followers to send some of their best personal finance articles for the week, below is what they came back with:

While Kathryn wrote about different ways to reduce debt, No Credit Needed had a similar article about his debt reduction mindset.

Michael James on Money asks why company pensions are at risk.

Five Cent Nickel tells us that good deals don’t always pay.

Canadian Capitalist concludes that it’s a good bet to keep dividends within an RRSP.

Steadfast Finances lists 12 facts you should know about facebook’s business potential.

Four Pillars says that spending cash is the same as borrowing if you have debt.

Suburban Dollar writes about the Coverdell Education Savings Account (U.S).

The Financial Blogger has some discouraging news about the S*P 500

My Life Roi writes about networking: strangers aren’t very giving.

Realm of Prosperity shows us how to prepare for a lost wallet.

Where Does All My Money Go writes about the genesis of DSC mutual funds.

Saving For Serenity has the showdown between frugal vs cheap.

Thicken My Wallet explains how to be a better employee.

12 Comments

Welcome to the Million Dollar Journey July 2009 Net Worth Update – The Home Expenses Edition

Houses are expensive!  With summer in full force, I have been diving into the “honey do list.”  Thus far, we have installed a fence and organized the garage.  Other items on the list include creating a front garden for curb appeal, building a shed, and developing the basement.  They probably won’t all be done this year, but I’m hoping to take advantage of the home renovation tax credit as much as possible.  With the work done so far, and mid year property taxes due, our savings have taken a hit.

With regards to our portfolios, they have been performing well thus far in the year.  I’m actually surprised that we haven’t seen a larger correction, but I’ll take it!  If we do get another correction, I will be waiting to buy more equities.

Assets: $452,500.00 (+1.04%)

• Cash: $4,500 (+0.00%)
• Savings: $10,000.00 (-9.09%)
• Registered/Retirement Investment Account: $67,000 (+3.08%)
• Pension: $22,500 (+0.67%)
• Non-Registered Investment Account: $17,000.00 (+6.25%)
• Smith Manoeuvre Investment Account: $48,500 (+5.43%)
• Principal Residence: $275,000 (+0.00%) (purchase price)
• Vehicles: $8,000 (2 vehicles) (0.00%)

Liabilities: $89,900.00 (-1.75%)

• Tax Liability: $3,000 (-0.00%)
• Principal Residence Mortgage (readvanceable): $33,900 (-4.51%)
• HELOC balance: $53,000 (+0.00%)

Total Net Worth: ~$362,600.00 (+1.75%)

• Started 2008 with Net Worth: $309,950.00
• Year to Date Gain/Loss: +16.99%

Some quick notes and explanations to net worth questions I get often:

The Cash

The $4,500 cash are held in chequing accounts to meet the minimum balance so that we pay no fees (accounting for regular bill payments). Yes, we do hold no fee accounts also, but I find value in having an account with a full service bank as the relationship with a banker can prove useful.

Savings

Our savings accounts are all held with PC Financial. We usually hold a fair bit of cash in case “something” comes up. The “something” can be anything that requires cash such as an investment opportunity that requires quick cash or maybe an emergency car/home repair.  We also need cash to cover any future tax liabilities.

Real Estate

Our real estate holdings consist of a primary residence plus a rental property. The value of the principal residence remains valued at the purchase price despite significant appreciation in the real estate market that we’re in.

24 Comments