Net Worth Update: January 2013

The last few months have featured a lot of changes for us. And since Brian and I have added another condo to the mix, I’ve gotten a new job (again), and my student loans have come up for repayment (again), it seemed like a good time to do a net worth check in. I usually do this for myself every other month, but we don’t usually post about it more than a few times a year. I mean, do you guys really want to know what I have in the bank every week? However, this will provide a good benchmark for us and perhaps we’ll do an update in another 3 or 4 months. Interested in calculating your own Net Worth? Check out our template in the Tools section.

net worth 2012

CF

Assets

$300,000 – condo
$9,511.12 – personal RRSP
$100 – company RRSP
$2800 – old company pension
$4200 – company stock options
$3,285.36 – TFSA
$1500 – emergency fund
$508.78 – irregular savings fund
$522.72 – chequing buffer

Debts

$284,617.50 – mortgage
$27,174.78 – student loan
$4000 – RRSP HB loan

CF net worth: $6,635.70

This will probably jump part way through next year because I don’t receive my matching company RRSP contribution till mid-year.

 

BP

Assets

$265,000 – condo
$13,114 – personal RRSP
$5623 – TFSA
$4187 – emergency fund
$4280 – irregular savings fund
$856 – chequing buffer
$1559 – chquing accounts
$1085 – condo maintenance fund

Debts

$228,775 – mortgage
$13,875 – family loan (school)

Brian’s net worth: $53,054

Brian’s note: My Net Worth goal for 2012 was actually $65,000, so I didn’t meet my target. It probably wasn’t realistic! My net worth still increased by 73% this year, so I’m pretty happy with that.

Our focus in 2013 will be on paying down student loan debt and the mortgages. We probably won’t consider buying more property again in the near future unless we sell the first condo.

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36 Comments

  1. You guys did well. I asked my fans about changing my numbers to % and they said NO, please don’t they like to see how we do every month. They said it motivates them to keep going. One fan who said she would have given up budgeting if it wasn’t for my monthly budget updates. She started in May 2012 with my help and is still doing it today Jan 2013. I like to see how people are doing as well so I can relate, so my answer is no I don’t find these posts boring at all. Keep up the great work! Mr.CBB

  2. That’s awesome. I only know my net worth using Mint.com, but it’s certainly nothing exciting. I definitely hope to get in the property game in the next few years (the goal is to own something before 30 so I’ve got 4 more years!). Cheers guys!

    • CF says:

      I’ve never tried using Mint, although Brian has. I like keeping track of things in a notebook/excel. I’m old-fashioned that way… :p

  3. Awesome! I really need to update our net worth as well. I haven’t checked in on it for quite a while. Happy new year!

  4. Pauline says:

    Great job! How do you deal with the condos, do you share the rent income on one and share expenses on the other one, does one of you pay rent to the other?

    • CF says:

      We split the costs of the primary condo and the rent from the rental condo pays for the mortgage and strata :) There is not yet much of anything left over to split!

  5. Jason @ WSL says:

    Wow, a 73% increase in net worth is exceptional (even though you didn’t hit your goal). I personally like reading about people’s updates…but that’s just me.

    Good luck in 2013!!

    • CF says:

      I think a lot of it was due to the property, so perhaps that’s why we’re still feeling like we missed out. We’re looking forward to 2013!

  6. Cat says:

    Thanks for posting. I’ve been thinking about posting mine, but haven’t – perhaps I should!

  7. I don’t think these kind of posts are boring =) Our income statement went up on our site today, with the balance sheet scheduled to go up tomorrow!

    Just curious – did you guys ever talk about why you keep all your finances separated?

    • CF says:

      … We’re adverse to commitment? Haha. Well, we’ve never actually formally done our taxes as a couple yet. As singles, we’ve taken advantage of some tax breaks for me while I was a student. So it made sense to us to keep our accounts and such separate for a while. We’ll probably file taxes together this year and start looking at consolidating accounts.

      I still like to have separate budgets because I like to keep our spending money personal. We should each be able to buy whatever crap we want, I think :)

      • We do the same thing. It makes things like Christmas and birthdays easier and more surprising. :) I’m also a strong advocate of having your own accounts for legal reasons…regardless of how much you trust someone.

  8. funancials says:

    To answer your question…I want to know what’s in the bank every week. I, personally, want to know every dollar spent and earned! And every other meal could be cool, too. On a serious note, thanks for sharing. It’s always fun to see inside of someone’s funancials.

  9. Suba says:

    73% increase is awesome!! You guys did great last year. I don’t track networth publicly as my husband is a very private person and he thinks it is too much information. But I love reading them, they are very inspiring. Here’s to even better 2013!

    • CF says:

      We debated it, for sure. How much is too much info? I think at least some people find it useful and for now, that’s good enough for us. If we had a very high net worth, I might reconsider, but we mostly have mortgage debt haha.

  10. I really enjoy reading other bloggers’ net worth updates. I don’t find them boring at all. I like to see how we compare to other couples. The bf and I don’t combine finances either. Maybe when we get married?

    • CF says:

      Yeah, we’re not sure how much we would combine finances even when we’re married. I like having my own spending money! As long as we contribute to the household proportionately of course.

  11. Catherine says:

    You guys are doing great! I really need to do this (net worth) I think I’m avoiding it because it’ll scare me!

  12. Liquid says:

    Thanks for sharing. Setting goals is important even if we don’t meet them. I think with the new job, new housing situation, and some extra focus on investing, yours and Brian’s combined net worth will be over $100K by the end of the year :D I agree that 3 condos would be too much right now. But maybe later once you both have more equities in your current homes you can continue to expand your real estate empire :D

    • CF says:

      Meh, you’re rocking both of us single-handedly! :)

      I think the plan will be to improve the real estate “empire” rather than grow it just yet. I’d like to swap out our current rental for something a bit more profitable.

  13. Wow a 73% increase in your net worth – that’s nothing to be shy about! I think you’ll have great success in 2013, it definitely seems as though you’ve set yourself up for success!

  14. You guys are clearly moving the right direction and had a solid year in 2012.. Nothing to sneer at. I would bet that this year is going to be even better.

  15. Brett @ wstreetstocks says:

    That’s a big jump in your net worth! Good luck to you in 2013!

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