Monday, June 2, 2008

May update

May has come and gone, and we're heading toward summer. Although this past month has been a nearly complete hiatus for me, I'm back and ready to tackle the decisions that come with Ms. Loonie's upcoming career change.

To start off the month, let's look at how I did with my May goals:
  • Reduce my revolving debt to $19,850 - I managed to beat this goal, coming in at $19,823.07. It's nice to nail this goal for a change, given the number of times that I've fallen just short of my debt reduction targets in the past few months.

  • Grow my Emergency Fund to $1,370 - Once again, I made this one happen, ending the month with $1,372.95 in dedicated emergency savings.

  • Update my Equifax credit file with my correct postal code - I got pretty badly sidetracked in May, with Ms. Loonie going through her interviews for her new job, and a hectic month of my own at work. I've got the paperwork on my desk, so I'm planning to check this one off this week.

  • Walk to and from work every day, and work out at least three times a week - I've got the walking thing down, but I need to work on actually getting some real exercise on a regular basis.

  • Lose 4 pounds - I got half-way to this goal, dropping two pounds to 205lbs.

  • Blog 31 times in May - I've fallen off the wagon. I posted 7 times in May, with only two of those being actual topical posts, rather than monthly/bi-weekly updates. Fortunately, Ms. Loonie's job decision will give me lots of material to write about this month, as we work through the implications of switching careers and getting a salary bump.

  • Bring my lunch to work every day in May - I nailed this one. I prepare a lunch (usually a simple sandwich, some fruit and yogurt) every day before leaving for work. Combined with free coffee at work, I don't feel the need to spend on lunch or snacks during the workday.
Now, on to my month-end update:

Online Savings - $2,821.77
Self-Directed RSP - $47,149.56
Employer Group RSP - $6,398.21

Credit Cards - $18,038.55
Line of Credit - $1,784.52
Student Loans - $27,091.18

Net Investable Assets: $9,455.29
Net Liquid Assets: ($44,092.48)

Thanks to a three-pay month, my cash savings received a nice bump of $939.25 this month, mostly in contributions to my Freedom Account. The three paydays also translated into nice debt reduction, with $947.16 going toward my revolving debt. My retirement savings were helped out by market performance, increasing by $3,250.48 from their April 30 balance. Overall, I saw an increase of $4,189.73 in my investable assets, and a decrease of $1,774.37 in my non-mortgage debts.

Overall, my net investable and net liquid assets increased by $5,964.10 and $2,713.62, respectively. My NetworthIQ profile has also been updated (including loose cash, home, car and mortgage). I've widened the gap nicely since my net investable assets first became positive last month, and if I keep up my debt reduction, I should be able to keep this number above zero from here on out. That's a good motivator.

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