Last recap of 2012!
I’ll be honest, I was a little nervous about this month’s recap. Not only because my spending got a little away from me towards the end of the month, but because it’s the end of the year. It feels like there’s this pressure to finish off the year with a bang; like if we fall off the band wagon during the last few weeks then the entire year was a waste and we’ve set ourselves up poorly for the year to come.
Obviously this is mostly in my head, and a little more liberal spending during the last few weeks of the year doesn’t make the year a total wash. I’ve been reading through bloggers’ year end recaps, and honestly I’ve been feeling a bit of lifestyle envy. International travel, promotions, invitations to write for major media, engagements, moving across country and internationally… I feel like I haven’t really done much in comparison. In fact I have done a lot, it just hasn’t been glamourous. Having the hard numbers in front of me is really helpful when I find my confidence is wavering.
Like I said, some slightly more liberal spending hasn’t made the year a total wash. My net worth is up almost $32,000 from this time last year, with my total liabilities decreasing by almost $10,000.
CHEQUING: $821.20 (Last Month: $10,916.36)
Last month was a one off anomaly. Not only was it a 3 pay period month, but I had just transferred a large sum of money out of my line of credit. My last mortgage payment of the year has already come out of my account, so the money in there currently is for covering bills until next pay day.
SAVINGS: $635.72 (Last Month: $6,449.51)
This was a royal kick in the pants. I was so happy about the little emergency fund I had built up that using it was a bitter pill to swallow. The majority of the savings were liquidated to pay for my car.
INVESTMENT: $74.60 (Last Month: $43.00)
It’s always fun to watch this little guy when it goes up. The cost to sell stocks in this account is ludicrous, so I didn’t bother to sell this one. If it stays up like this I’ll probably sell it next month.
RETIREMENT: $17,641.39 (Last Month: $16,890.57)
As long as this number keeps going up I’ll be happy. I’m curious to see how many of my gains this year have been from the market rather than just my contributions.
PROPERTY: $294,000.00 (Last Month: $294,000.00)
This number comes directly from my tax assessment. I should have an updated value for this by next month’s recap. It’s pretty well in line with what homes in my area are selling for.
CAR: $10,000.00 (Last Month: $0.00)
I wasn’t sure initially if I should include this as an asset or not, but after thinking about it for a while and considering your comments last month, I’ve decided to include it. Comparable vehicles are listed for sale at $12k+, but given that I got mine for $10,000 I don’t feel confident in putting a higher value than that down for it.
CONSUMER DEBT: $3,775.47 (Last Month: $9,699.86)
This is a one two punch of debt. Little over $3,250.00 is sitting on my line of credit, and the rest is on my credit card. I’m not proud of that. I set a goal to pay my line of credit down below $2,000 by the end of January, and having a balance on my credit card at the beginning of the month will make that more difficult because it takes money from that goal. Between the CPP and EI coming off my cheque again as of January, and my roommate moving out, my monthly income will be shrinking between $800 and $900. It’ll be tough to pay this down, but I’ll do it.
MORTGAGE: $226,874.65 (Last Month: $227,463.80)
This really is a mind boggling number when I think about it. Fortunately, it is continually going down.
TOTAL NET WORTH: $92,522.79 (Last Month: $91,135.78)
I’m up $1,400 this month, most of which I’d attribute to paying off my mortgage and putting money into retirement savings. I’m hoping to see a much more substantial leap next month, even with the income restriction.
How did your month go?
Recommended Reading: The Best Personal Finance Tips of 2012