Millionaire Mind Action Item - I focus on building my net worth! March was a great month for net worth growth and now it's time to update my situation. See last month's update here.
June 2, 2009
Passive Income: $0.00
Total Income: $5,852.69
Total Expenses: $2,580.93
Monthly Cashflow: $3,271.76
Total Assets: $30,814.27 (10% First Cash Holding Account, 10% First Accounts Payable Account, RRSP, TFSA, Silver) +6.17%
Total Liabilities: $33,958.87 (Student LOC, OSAP, Car Loan, Mastercard, AMEX) -1.63%
Net Worth: -$3,144.60 (+$2,353.35 or +42.80% from last month)
Started 2009 with Net Worth: -13,156.58 Year to Date Gain/Loss: +$10,011.98 or +76.10%
On a personal note, May was a good month for net worth growth. This was mostly as a direct result from the commissions I was expecting (smaller than I had anticipated, but still relatively significant ... It will hopefully be much more significant at the end of June baring any changes done by management again). Another significant increase came from the increase in the price of Silver for my Silver holding and the increase in the markets which brought my RRSPs up a considerable amount.
I'm expecting several big increases both individually and as a couple. Personally, I have 2 car flips which will probably be bought this month and a bigger commission cheque from the J.O.B. at the end of the month. On a couple level, we will reconcile our wedding account which will most likely go into a Couple RESERVE account and my wife sold the condo and the funds will go into an account we'll name EQUITY which will be in a bank account bearing interest and short term GICs to protect the equity she has built from the downturn in the economy. I'll add a few hundred dollars to our rent to go towards the EQUITY account as if we were "paying down" principal as a forced savings mechanism.
Declaration: We focus on building my net worth! ... We have a millionaire mind!
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