Wednesday, July 2, 2008

June update

Well, I hope everyone had an enjoyable Canada Day, and that those of you south of the border are gearing up for Independence Day on Friday. Let's see how the month of June treated us.

First off, you may have noticed that I didn't post any goals for June. This was an oversight, as I was lapsing pretty badly in my posting schedule. By the time I hit mid-month, I figured it was too late to post meaningful goals, so I figured I'd wait for July to come. However, I did accomplish a few things last month, so I'll give a quick run-down:
  • Reduced my revolving debt to $19,236.45 - This was a drop of $586.62 from May 31, which is fairly typical for a two-pay month.

  • Grew my Emergency Fund to $1,405.76 - I'm still slowly chipping away at the goal of a substantial emergency savings cushion, and with bi-weekly contributions of $15, I'm on track to beat my $1,500 goal by year-end. The Emergency Fund currently consists of $1,021.75 at HSBC Direct (with debit card access), $84.01 in other online savings accounts, $100 in a separate account at my primary bank, and $200 in cash hidden at home.

  • Walked to and from work every day - I've thoroughly beaten the habit of taking the TTC to work in the morning. A ride on the subway costs $2.25, and the cars are always so packed that the ride is really miserable in the summer heat. That, plus the fact that it cuts less than ten minutes off my travel time, has made me a dedicated foot commuter.

  • Brought my lunch to work almost every day in May - I had two days this month where I needed to buy lunch at work. Other than that, I either brought my own lunch from home, or had a work lunch that was provided for me. I do have to admit that I've been frequenting Tim Hortons a little more often during the workday this month, so that's something to keep an eye on.
Nothing really out of the ordinary here. I'll be posting some goals for July sometime this afternoon.

Now, on to my month-end financial update:

Online Savings - $2,550.93
Self-Directed RSP - $45,102.86
Employer Group RSP - $6,360.75

Credit Cards - $17,988.59
Line of Credit - $1,247.86
Student Loans - $26,536.76

Net Investable Assets: $8,241.33
Net Liquid Assets: ($43,222.28)

This month, in spite of a trip to the U.S., my cash savings increased. However, my retirement savings got positively hammered by the slide in the stock markets. Despite over $400 in RRSP contributions, my retirement balance decreased by over $2,000. This is the first time since last November that my retirement savings actually dropped from one month to the next.

Overall, my net investable assets decreased by $1,213.96, although my net liquid assets increased by $870.20. My NetworthIQ profile has also been updated (including loose cash, home, car and mortgage). Despite the slide in my retirement investments, I'm happy to see my net investable assets stay positive.

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