Posted by: saveafewbucks | April 23, 2011

A Big Fat Update

I’m a Crappy Blogger

Because I get lazy. Hence this is my first post in 5.5 months… 😐

I can’t even blame my new job. The hours are good and I’m hardly stressed. Besides that, the rest of the PF bloggers do it. Many as they juggle multiple jobs. So from here on out I will make a renewed effort to start blogging again. At least once a week? Baby steps. Yay for 4 day weekends and an out-of-town boyfriend (woo personal finance party of one!!).

This Was Me Then

October 31, 2010: -$20,053

Almost Today

March 31, 2011: -$8,583

Thoughts on the Past

That means that in the last 5 months the change in my net worth was +$11,470 (average of ~$2,300/month) or 57%. ~+$6,200 in assets and ~-$5,300 in liabilities. But that seems so strange to me. I track these numbers every month (and obsessively look at them daily) and it doesn’t really feel like I’m making any significant progress in any balances.

Breaking it down a little further, I see that ~$10,300 of the increase is a result of  +$2,383 cash, +$4,117 RRSP and -$3,817 Line of Credit (stupid! stupid! STUPID!). My GINORMO student loan ($30k) and car loan ($14k) have hardly moved. 😦 So if I hadn’t wasted away money on that LoC, I could be hitting the $25k mark on my student loans. 😐

April Planning

This will be an unusually good month for me. I wish I could say it was due to my awesome self-restraint and budgeting skills. Or for being recognized for super hard-work at my job. But it’s actually a gift from a very generous family member to my parents, which they decided to share with my brother and I.

So far I’ve transferred some of the funds to my TFSA and the rest is waiting around in my savings account until I can figure out what to do with it. The choices are:

a) A hefty RRSP contribution with the remaining funds – which means I won’t have to worry about additional contributions this year

b) Pay off a large portion of my student loan (~20%) – I get to look at a smaller balance every day

Note that everytime I have any extra money, this is always the dilemma. RRSP or debt. So I made a spreadsheet. Obviously.

This is is quick and dirty. Please don’t judge.

In the past, I’ve put any extra money into my RRSP as a result of the above. Numbers don’t lie right? But what price do I put to the emotion attached to seeing my student loans in the low $20ks?

Thoughts?

Onwards

I spend FAR too much.I don’t share the details as it’s THAT embarrassing. Maybe I should start…

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