Last month I didn’t post a net worth update – again, I was struggling with sharing this info and unsure whether it was useful to you, the readers.
Ultimately, I figured that if it’s helpful to even one reader out there it’s absolutely worthwhile.
My investments took a 3% dip down in market value during the month due to the Greek financial crisis. Thanks to some savings contributions my overall portfolio was held at par.
I was happy to kick in some extra cash during the dip down, and would be fine if the market kept going in the direction over the next few months/years as these are peak times for me to save and contribute.
Last May I got engaged! Mrs. (soon to be) Wealth Brick Road and I are going through the process of planning out the wedding, which is scheduled for next year.
There’s still lots of planning and work to come yet, but so far so good!
Financial Goal Update
I’ve been humming along trying to hit my goals for 2015. Here’s where I’m at:
- Max Out TFSA – The Canadian government increased the TFSA contribution limit for 2015 to $10,000 (previously $5,500). While that required an additional $4,500 to max out my account, I was stoked to have the extra room for my investments to grow tax-free. I’m currently $2,900 away from maxing out the total $41,000 TFSA contribution limit.
- Save 45% of Gross Income – I’m currently running at 46.7%. However, this includes my contribution matching my work offers. Without this contribution I’m at 41.6%, which is not bad, but still short of the target. I’m hoping to get that figure up in the remaining 6 months of the year.
- Earn $5k in side Hustles – I earned very little in the first two quarters of this year despite putting in extra time on evenings and weekends towards side projects. I’ve earned just over $1,100, which is way off the mark, however, I’m not too bothered given the other rewards I’ve received. I’m going to keep this goal and continue to work towards it for the remainder of the year, but understanding the money is really secondary, or thirdary (that should really be a word…)
- Donate $500 to Charity – I’ve currently donated $280 to various causes this year. This has been the most emotionally gratifying of all my goals and I’m not just saying that to earn brownie points. As an accountant my mind is often geared towards being tight with my wallet and this goal has been a great exercise in perspective. It’s nice to have this money set aside in my personal budget so I can give without worry.
Below is my net worth report:by