Here is a current update on my Finances … There is good news and bad news;
The good – I have increased my Net Worth by about $5000, since I have started my new job as Geology Consultant. I am so happy to be back working!
The bad – I have added some credit card debt by starting my own business. I hope to re-coup those costs soon! My cost of borrowing per year has stayed about the same in the last few weeks, about $14,400 per year.
Summary is below ….
Assets
$500,000 Home in NW Calgary (City of Calgary assessed tax value – conservative market value)
$16,000 RSP (Stocks, ETFs, and Mutual Funds)
$9000 Car
$3500 TFSA (Stocks and Mutual Funds)
$2,355 Cash
Liabilities
-$394,600 Mortgage (3%) Borrowing cost = $11,838 per year
-$17,098 Credit cards (10% on average) Borrowing cost = $1709 per year
-$6900 Car Loan (7.7%) Borrowing cost = $531 per year
-$5063 Remnant Student Credit Line (5.2%) Borrowing cost = $263 per year
-$1463 RSP Loan (2.64%) Borrowing cost = $39 per year
Total Net = $100,300 Total borrowing cost = $14,380 per year
Since the last update (April 18th), about 70 days, my net worth has increased $5300 (from $95,000 to $100,300). That is an approximate gain of $75/Day!
net wealthy 