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I just calculated how much my net worth would increase next year if my spending matches my budget and there is no real estate or stock market crash: $46k. So with that in mind, given my current net worth of roughly $65k, I'm aiming for a net worth of $100k by the end of 2015. Should be easily doable if I can resist all big purchases. Specifics: -Attain net worth of $100k -Contribute max of $4,500 to RRSP -Contribute $27,000 to TFSA, eating up remaining limit -Survive first winter biking and avoid getting hit by a bus, since biking helps make this frugal lifestyle possible and enjoyable. 2015: The year of catching up on my early 20s financial illiteracy/stupidity.  A glorious year it shall be.
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Dec 19, 2014 21:13
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| # ¿ May 12, 2024 15:38 |
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I'll be your Fabio for your covers if you'll give me 10%.
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Jan 12, 2015 14:38
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Rick Rickshaw posted:I just calculated how much my net worth would increase next year if my spending matches my budget and there is no real estate or stock market crash: $46k. Progress: 1. Surprisingly at $73k~ already. On-target I would say. 2. Waiting to confirm my limit for this year. Will probably wait until the summer to max this out. 3. Contributed $3500 so far. My tax return should be around $7k (I should have adjusted my withholding), which will go toward this. 4. Despite the record-setting snowfall in February, I've managed to keep biking and not die. This car-less lifestyle, outside of occasionally renting, is going great. When the cold weather hit in January I bought another bike, totalling around $700. It felt like an impulse buy, but I needed a hybrid for the cold, but clear days. My beater road bike just wasn't cutting it due to the handlebar type. As a result my spending is about $600 more than budgeted for Jan/Feb. Fortunately I don't think I'll be making any other big purchases this year. I am set for bike stuff and clothes. Anything that could pop up is taken care of. Rick Rickshaw fucked around with this message at 15:39 on Mar 3, 2015 |
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Mar 3, 2015 15:24
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Rick Rickshaw posted:I just calculated how much my net worth would increase next year if my spending matches my budget and there is no real estate or stock market crash: $46k. Progress #2 1. Passed $100,000 today! Barring a stock market collapse I should be well over $100k on New Years. 2. Limit for this year will actually be $6500~, as I forgot that my re-contributions for the amount I took out under the Home Buyer's Plan do not count toward my limit. $3,000 contributed so far. 3. $19k~ contributed so far. I may not hit my $27k goal...it'll be close though. The extra RRSP room took away from this. 4. Gearing up for winter #2. 
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Sep 17, 2015 17:12
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