Welcome to the traditional monthly net worth update – The July 2008 edition.
In terms of expenses, this month was a little higher than expected. We typically funnel all of our spending through our credit card (for the rewards points) and we ended up with a $2,500 bill for the month (paid in full of course) where we typically spend around $1500-$1700. I’m not quite sure where we went wrong, but looking over the statement, it seems as though we made a lot of trips to the grocery (and beer) store. Some of it may have to do with the fact that we’re entertaining more than usual this summer. Perhaps it’s due to the new house and everyone wants to come over to our house now instead of us going out to theirs. Also, higher gas prices haven’t helped.
In addition to regular spending expenses, we also had to pay the semi-annual property tax which worked out to be $1,500. Come to think of it, I should probably add property tax to my liabilities at some point.
Lets talk markets! After a large decline, the markets seem to be recovering a bit. The bright side is that financials seem to be on the come back which has helped stabilize my portfolio. Question, do you guys use technical analysis when making trades? Or do you believe that it’s voodoo magic? I personally use a combination of technical and fundamental analysis before making some trades and I’m wondering if technical analysis is a topic that you’d be interested in.
Enough rambling, here are the numbers:
Assets: $ 589,725 (-1.50%)
- Cash: $4,500 (+0.00%)
- Savings: $24,500 (-20.94%)
- Registered/Retirement Investment Account: $56,200 (-3.44%)
- Pension: $ 22,350 (+0.00%)
- Non-Registered Investment Account: $19,200 (-1.03%)
- Smith Manoeuvre Investment Account: $49,475 (-0.50%)
- Investment Property: $ 124,500 (+0.00%)
- Principle Residence: $275,000 (+0.00%) (purchase price)
- Vehicles: $14,000 (2 vehicles) (+0.00%)
Liabilities: $277,566 (-3.69%)
- Investment Property Mortgage: $93,100 (-0.21%)
- Principle Residence Mortgage (readvanceable): $125,881 (-7.79%)
- HELOC balance: $50,575 (+0.39%)
- Other Liabilities: $8,000 (-0.00%)
Total Net Worth: ~$ 312,169 (+0.54%)
Started 2008 with Net Worth: $279,300
Year to Date Gain/Loss: +11.77%
Looking at the numbers, you may have noticed that my assets have decreased a little. This is mostly due to taking some of our cash savings ($10k) and putting it down on our mortgage. We are getting fairly aggressive with our mortgage pay down as we have an open mortgage and the extra HELOC space gives us more capital to invest with if we wish.
Overall though, we managed to squeak out another net worth gain however the year to date net worth gain is a little off track. Hopefully we can make up in the remainder of the year!