Here is our network as of April 1st. To the left you will see the details and to the right, the updated bar graph.
I've included a blurb about the mortgage and the escape below that I will include going forward as I get a lot of questions about those numbers.
You'll see now that my Shares have stalled as Jordan and I have chose to stop savings for that investment while we work to save for and pay off our big backyard project.
Cash represents our day to day spending account, and our chequing account is our 'work horse' account - which
fluctuates regularly as well.
A few notes:
Mortgage
Before tax, our home cost us $327,650, after tax it was $338,134 - after paying our down payment (5%) and adding CMHC Insurance (2.75%) for having a down payment of 5% rather than 20% our mortgage was $348,818.
So, you'll notice that when I report, for example, owning 3% of our home - I mean that we have paid that percentage of our mortgage off. You may also notice that we owe more than our homes City Tax Assessed Value. The value, as you may know, is arbitrary - because the home is worth only what a buyer will pay for it. We're not currently in the market, so it's difficult to know exactly what's it's worth. I used the value from our 2012 Tax assessment however; it is relatively common knowledge that tax assessments are not used when determining a sale price - but market value is.
Escape
We bought the vehicle new, off the lot - its fairly common knowledge that off the lot typically lose a lot of value as soon as you drive it off. I used a black book value website to come up with a value of $15,000. I actually saw pricing of vehicles ranging up to $22,000 or more for an Escape as old as ours however; I choose to use a more average valuation instead of over inflating it's value - because really...who knows what people would pay for it.
As long as the Net Worth keeps going up, you are doing the right things.
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