First off, here's how I did with my December goals:
- Grow my Emergency Fund to $1,160 - I made this goal almost without going above my $25 bi-weekly contributions, but with a small top-up, I ended December with $1,162.96 (including accrued interest). I deliberately set this goal at just above my auto-pilot amount, because of the financial strain of the holidays.
- Reduce my revolving debt to $23,400 - Once again, I set this as an easily attainable goal, essentially saying "don't get derailed by Christmas". When all is said and done, my revolving debt finished the month at $23,397.71, which makes this my first cash-only Christmas in a long time. That feels pretty good.
- Blog 25 times in December - Now we move onto the less rosy side of my December goals. I only managed to blog 17 times. I could offer up excuses, but it all boils down to this: I got distracted by the holidays, and by the year-end crunch at work, and I wasn't able to focus as much on my blogging as I would like. The lesson here is to identify busy periods in advance, and plan for them. One option would be to "stockpile" posts, so that when I hit a crazy patch, I can publish my already-written drafts. I'll have to figure this one out.
- Finish my review of Getting Things Done - As with the 25-post goal, I totally dropped the ball here. No progress on the review. I'm not getting this thing done as well as I'd hoped.
- Continue to blog once per week about productivity - I've said it all by this point; I didn't manage to write about productivity at all.
Now, on to my month-end update:
Online Savings - $2,001.63
Self-Directed RSP - $39,630.67
Employer Group RSP - $2,363.00
Credit Cards - $3,573.29
Line of Credit - $19,824.42
Student Loans - $30,098.68
Net Investable Assets: ($9,501.09)
Net Liquid Assets: ($51,494.76)
My liquid savings took a hit, due to holiday shopping. Disappointing market performance meant that my retirement investments grew only marginally. Combined with debt reduction, my net investable and net liquid assets increased by $1,375.27 and $1,036.04, respectively. My NetworthIQ profile has also been updated (including loose cash, home, car and mortgage).
2007 in reviewMy progress during 2007 has been pretty well documented in a slew of six month updates, so I just have a few milestones to note for my "year" in review (May 1-December 31):
- My utilization rate on my credit cards and line of credit has gone from 53% to 42%. This is mostly due to debt reduction, although a recent limit increase on my primary MasterCard also helped.
- We've paid off $4,571 in mortgage principal (plus the remaining $1,472 of our CMHC premium), and $3,589 in student loans. This is all due to our automatic bi-weekly payments, with no lump-sum prepayments.
- I've increased my retirement savings by $5,906, through a combination of regular contributions and market growth. These savings are now mostly in the form of low-cost index funds, with a small position in my employer's stock.
- My net worth has increased by $21,234 (254%), while my net investable and net liquid assets have increased by $15,190 (62%) and $9,283 (15%), respectively.
- I've made a small amount of income from a paid advertisement. While monetization is not my primary goal with Loonies And Sense, it's nice to see some actual dollars generated by my efforts.