Four years ago this week I graduated from my Masters program and began working full-time.  

My immediate financial future looked pretty rocky.  I had no assets and I owed $33,000 on my student line of credit (I was not able to apply for OSAP or government funding).  I managed to land my dream job right out of school and made a pretty penny at that. 

Over the past four years my average income has been approximately $53,000 (plus benefits + RRSP matching).  

Fast forward four years later and my once -$33,000 net worth is now +$30,000.  Sometimes when I look at my positive net worth I feel that it should be higher, but sometimes I need to remind myself that in four years I've been able to increase my net worth by $63,000!!!

Sometimes you need to look at numbers in a different light to appreciate a significant change  :)

 

(source)

Broke the $30,000 net worth marker!

I finally broke through my next net worth marker!!

Despite my investments taking a hit this month, my net worth increased again over the past 30 days.  I'd felt lately similar to what dieters feel when they've hit a weight loss plateau when it came to my net worth.

But, this month I'm happy to share with you my updated net worth:

Assets	February 2012	June 1, 2012
Condo	$192,000	$192,000
Vehicle	$6,500	$6,500
Investments	$2,100	$3,744

Liabilities
Mortgage	$173,250	$171,592

Net Worth

$27,350

$30,652

This represents a change of +8.9% since February this year.  

While it should be at about +13% based on my planned savings (oops!), I am happy that it's going up.

Between February 15th and June 1st I have "taken home" approximately $11,250 (after tax deductions, but not pension deductions), while my net worth has increased by $3,302 through investments (RRSP and Pension, and paying down my mortgage) .  Not too shabby!

How to Earn a FREE $75 Gas Card!

Back in March I'd applied for and was approved for an MBNA Smart Cash MasterCard to replace my Shopper's Optimum MasterCard.  

I was thrilled with not only the Cash Back that I'd be earning just for using my MasterCard (no interest charges for this PF blogger!), but also with the sign-up bonus I'd received....$60.

Fast forward to today, and Rate Supermarket is offering an even better deal!!  When you apply and are approved for either of the two cards listed below, you'll receive a FREE $75 gas card. A cool $75 would have gotten me through two weeks worth of gas!

By applying you'll also be entered to WIN Free Gas for a Year (a $2,500 value)*! 

*Offer valid from 5.00am EST on May 16, 2012 to 12.00am on June 30, 2012.

Here's a breakdown of the benefits of each card:

MBNA Smart Cash MasterCard:

• Annual Fee: $0.00
• Rewards: up to 5%
• Purchase Rate: 19.99% 
• Balance Transfer: 1.99% (19.99% after 10 months)

MBNA Rewards MasterCard:

• Annual Fee: $0.00
• Rewards: Flexible! (Redeem points for cash back, travel, brand-name merchandise, gift cards from top retailers and charitable donations.)
• Purchase Rate: 19.99%
• 1,000 Bonus points after your first purchase + every year after 

My story : My credit card spending averages out to approximately $650/month - the usual charges are for food, gas, entertainment, car maintenance, gifts - which brings my year 1 cash back total to $228.
  
Since I pay my balance in full each month, the cash back feels like a gift for the convenience of using my credit card instead of cash; these cheques will go right into the travel account.  I LOVE free money!!

My Energy Conservation

I blogged back in March that in my original 2012 budget I'd included $55/month for hydro.  I've now been through a winter cycle (January - March), and a spring/summer weather cycle.  Seriously, it's May and Ottawa's been hit with 25-28 degree weather a few times this spring.

On my March bill I'd spent $1.24/day on hydro - including all those delivery and service charges.  This billing cycle, I managed to get it down to.......$1.23/day!! 

My two month bill, instead of the $110.00 I'd budgeted was only $70.47 -- off to the travel fund the extra money goes!

While a $0.01/day savings doesn't seem like a lot, my bill would have been much higher had I not been trying to conserve energy.  

I've turned on my air conditioning, but my hydro bill was lower.....that's because I've been unplugging my chargers during the day (cell phone, iPad, Laptop), I've been running the dishwasher cycle in the evenings/weekends when hydro is off peak, and because I've been involved in classes, the gym, volunteering, I just haven't been around to turn on lights or watch tv!

With a beer budget, every little savings counts, right?!  :)

 

(source)   

What do you do to lower your hydro/natural gas/water bills?? 

Net Worth Update - April 2012

I'd posted my first net worth update back in February and I figured it was that time again to check in and see where I stand.

Here goes:

Assets	February, 2012	April, 2012
Condo	$192,000	$192,000
Vehicle	$6,500	$6,500
Investments	$2,100	$3,188
Liabilities
Mortgage	$173,250	$172,146
Net Worth	$27,350	$29,542
	Change	$2,192
		9.7%

I'm pretty middle-of-the-road happy with the progress.  I know that I could have done better in the savings department, and one of my goals for the year was to make two extra mortage payments and that has yet to happen, so over the next coming months I need to make that a part of my monthly plan.

My end of year goal is to have a net worth of $38,000 sooooo, only $8,458 to go over the next 8 months -- eek!!

Budget: May 2012

Budget for May is complete!!

Crossing my fingers that I'll be able to stay on track:

	Budgeted
Full Time Job	$2,810.24
Transfer from Planned Spending Account	$270.00
Mortgage + Taxes (3x this month)	$1285.54
Condo Fees	$75.01
Insurance (Car/House)	$97.69
Hot Water Tank Rental	$50.79
Car Maintenance/Licensing	$49.00
Extra Mortgage +Tax Payments	$65.00
Natural Gas	$95.00
Hydro	$45.00
Rogers	$140.00
Pension	$333.32
Emergency Fund	$50.00
RRSP	$100.00
Travel Fund	$200.00
Clothing	$17.00
House Stuff	$30.00
Gifts	$50.00
Food/Restaurant	$200.00
Entertainment	$40.00
Gas - Car	$140.00
Memberships	$15.00