Fiscal Update – Jul 2012

Great job numbers to come out of the US this week. Employment rose by 163,000 in July. Great because it’s higher than what economists were expecting. But for the housing market, stock markets, and employment to get back to normal we need to see a consistent growth of at least 200,000 jobs every month for 12 months or more, preferable consecutively. This is probably not going to happen any time soon. But at least we’re going in the right direction. The US is still Canada’s largest trading partner and our companies up here depends on consumers down there to continue spending and create economic activity.
*Side Income:
  • Part-Time Work = $1200
  • Dividends = $500

*Discretionary Spending:

  • Eating Out = $100
  • Others = $200

*Net Worth: (MoM)

  • Assets:
  • Cash = $3,200 (+$200)
  • Stocks = $74,900 (+$300)
  • RRSP = $31,200 (+$100)
  • Home  = $248,000
  • Liabilities:
  • Mortgage = $206,200 (-$300)
  • Margin Loan = $17,900 (-$1,000)
  • RRSP Loan = $9,200 (-$800)
  • Bank Line of Credit. = $0 (-$1,000)

*Total Net Worth = $124,000 (+3.0%

Not a bad month for July. I’m going to try and extend my unsecured line of credit because I’m looking to purchase some real estate and will probably need the extra borrowing capacity in case I need more money. I just hope will bank will allow a $20,000 extension. We will see. It doesn’t look like I’ll be buying any stocks in August because I’m going to save up for my down payment.

* Numbers are rounded to the nearest $100.

Notify of

Inline Feedbacks
View all comments
08/05/2012 9:48 am

It’s unbelievably exciting to see all the progress and success you’re having! Keep up all the terrific job;-)

08/09/2012 3:40 am
Reply to  Maria

You’ve done quite a lot for yourself too :). Really dig your independent mind set.

08/05/2012 1:48 pm

Very cool and encouraging! I hope my chart looks similar in about two years!

08/08/2012 10:29 pm
Reply to  Mike

I’m sure you will :0) especially if you have the support of all your friends and family.
08/06/2012 4:56 pm

I’m still really impressed you publish all your numbers out there for the world to see. It looks like you’re doing good! An increase of 3% in one month is not bad! That’s an impressive hull of dividend income.

08/08/2012 10:52 pm

Jan, Apr, Jul, and Oct are my heavy dividend months because that’s when a lot of my quarterly dividend paying stocks pays out distributions. Most other months I average a lot less heh. Good thing I blog anonymously, otherwise I wouldn’t be disclosing my numbers like this. Don’t even want to imagine a hypothetical scenario where my boss finds out my wealth is building faster than his and might get jealous :p.

08/07/2012 4:51 am

The only thing I have to say is the US numbers were seasonally adjusted. Now given the past few years of decline, how do they estimate the season adjustability? Do they take a historic avarage, in which case how many years back… I think there is enough hokum in the calculation they can manipulate the number. Without seasonal adjustment the US lost about 1.2M jobs (I think teachers would make up a big part of this…) As to your update, it is always nice to see assets growing and liabilities declining.

08/08/2012 10:58 pm
Reply to  Phil

Sadly many citizens didn’t know these numbers were seasonally adjusted. And probably many of those wouldn’t understand what that means even if they were told. I guess the biggest impact these numbers will have is on the US election coming in just a few short months. I think it’s going to be a close one.