Another month has gone by already which means it's time to do a quick financial checkup.
Lets start with the markets. It seems that the markets have stabilized and even on an uptrend. I'm not sure how long this is going to last, but I'm not too worried as most of my money is in long term investments these days.
In terms of spending, we kept it under control this month as most of our time was spent caring for the newborn baby. The biggest expenses were perhaps diapers, groceries and other tidbits related to baby care. For now, we have decided against cloth diapers mostly because of the convenience factor. I can see the summer time getting a bit heavier on the credit card as we still need to do landscaping and other finishing touches around the house. For the new readers out there, when I say that I'm going to use a credit card, I use it for the points/benefits. I've never carried a credit card balance.
Income was another big issue this month. As maternity/paternity government benefits take about 30 days to kick in, we went through the whole month on 50% of our regular salary (not including side business income). I thought it would be a lot more stressful with the new baby and mortgage, but it's working out ok as we have reduced spending. Cash gifts that we have received for the newborn have also helped. ;)
Assets: $574,450 (+0.65%)
- Cash: $4,500 (+0.00%)
- Savings: $ 37,000 (+4.52%)
- Registered/Retirement Investment Account: $ 52,500 (+5.00%)
- Pension: $ 22,350 (+0.00%)
- Non-Registered Investment Account: $18,300 (+1.67%)
- Smith Manoeuvre Investment Account: $25,300 (+1.20%)
- Investment Property: $ 124,500 (+0.00%)
- Principle Residence: $275,000 (+0.00%) (purchase price)
- Vehicles: $15,000 (2 vehicles) (-6.25%)
Liabilities: $279,520 (-0.38%)
- Investment Property Mortgage: $93,700 (-0.21%)
- Principle Residence Mortgage (readvanceable): $152,700 (-0.65%)
- HELOC balance: $25,120 (+0.48%)
- Other Liabilities: $8,000 (-0.00%)
Total Net Worth: ~$ 294,930 (+1.65%)
Started 2008 with Net Worth: $279,300
Year to Date Gain/Loss: +5.60%
My net worth gain up to this point, as compared to March 2007, seems to be on track.
Interested in seeing how my net worth has progressed up to this point? Check out my history of net worth updates.If you would like to read more articles like this, you can sign up for my free weekly money tips newsletter below (we will never spam you).