Net Worth Feb 2017 Update : $14,182.08 (-$2,674.45 -15.87%)

Net Worth Update for the month February 2017

Assets Jan-17 Feb-17 Monthly Change
Checking $1,124.48 $1,500.59 33.45%
Saving $8.35 $8.35 0.00%
TSFA Investment $590.00 $637.90 8.12%
RRSP Investment $0.00 $0.00 0.00%
House $215,000.00 $215,000.00 0.00%
Car $15,000.00 $12,547.00 -16.35%
Liability
Mortgage $202,819.97 $202,308.25 -0.25%
Car loan at 0% $11,671.36 $11,342.71 -2.82%
Credit Card $374.97 $1,860.80 396.25%
NET WORTH $16,856.53 $14,182.08 -15.87%

This is one of the worst month since I’ve started following my net worth. February is a small month but that should not explain the huge drop I had.

One thing your can notice is that my car value dropped a lot. I’ve started to track my car value with the Canadian black book so that’s why it dropped so much in my car value.

Income

This month was short and I’ve got 4 pay and I’ve also taken two sick days which were paid full last January.  These days were to take care of my baby so it was not really some fun day. This have lower my income to 2 819$. Which is 1000$ less than my average income.

Expense

This month was a big month for my expense since we had 600$ in municipal max and 219$ car plate to pay. Also, my internet and tv bill increased but I’ve called and renewed the retention rebate near the automatic payment so I should get a credit on my next bill. Next step, I will cut the tv. In total, I’ve spent 3 831$. This is my average spending.

Saving

This month I’ve saved some money to my investment account. I’ve saved a total of 40$ which is included in my total spending. I’ve saved 1.41% of my income which is way less than my goal of 5%, but it’s a start.

Next month, I’m looking to increase my saving to at least 3% and my net worth should go up since I will get back 1500$ from my 2016 tax and it’s a 5 weeks month so I will be paid 5 times.

Readers: How was your February month?

6 thoughts on “Net Worth Feb 2017 Update : $14,182.08 (-$2,674.45 -15.87%)”

  1. That car value can go down like a rock. What are your goals for paying it off early? Are making minimum payments or trying to knock it out super quick? Keep plugging away, they can’t all be up months.

    1. I am looking to pay it as it is for the moment because it’s a 0% interest loan so I don’t see why I should really pay it faster than my 2.75% mortgage or investing in the market.

  2. I noticed the car value drop too, a decent sized drop. At 0% interest, I’d pay it off as slowly as I can and invest the rest. As for the monthly dip, it happens. You cannot be a winner every month.

    1. I guess, if I update it on a monthly base, the car value will not drop that much. Yeah you can’t win every month.

  3. Great job posting your numbers, it’s pretty nerve racking to do it in front of hundreds of readers.

    You say that your spending of $3,800 is pretty normal. Do you have a budget for this, or is it “what things cost?” I say this because I live in a very expensive area with a car payment and my expenses aren’t nearly that high. You might find some ways to cut your expenses by a few hundred $$$ a month.

    Great work, looking forward to your March summary!

    1. Hey david, thanks for stopping by and yes I have a budget for everything.

      I’m considering $3,800 normal for this month. I have my $972 mortgage and $600 of municipal tax to pay with a $323 car loan and $219 car plate. That’s a total of $2114. So the $1686 is used to pay for insurance, electricite, cable, internet, grocery … That’s for 2 adult and a kid.

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