Nice day today. NB Power won’t be sell to Quebec, I had purchased 300 brand new units of Just Energy Income Fund (JE.UN)… live is good! I had left 1 077.99$ in cash on my TD credit line, which is great. In case of need, I will have cash available. I could invest in 100 units of Claymore Gold Bullion ETF (CGL) since the unit price is currently under the 10$ per unit but for more safety, I prefer to have some cash available somewhere.
Nice gain for Bank of Nova Scotia (BNS). Too bad the TSX lose points today. However, I update my investment portfolio since so many changes happen in the last couple of days.
I am at 86 047.56$. Also, my level of debts had increased.
Here’s an overview of the situation:
Total assets: 86 047.56$
Annual dividend income (non registered account): 3 933.56$
Annual dividend income (registered account): 306.40$
Total in dividend income: 4 239.96$
My debt situation:
Student loan: 8 464$ at 4.75% = 402.04$ in annual interest
Credit line: 4 840$ at 3.5% = 169.40$ in annual interest
Credit line: 3 922.01$ at 8% = 313.76$ in annual interest
RSP Credit line: 10 000$ at 4.75% = 475$ in annual interest
Credit card balance transfer: 5 000$ at 4.9% = 245$ in annual interest
Credit card balance transfer: 4 359.02$ at 3.9% = 170$ in annual interest
Total of debts: 36 585.03$
Total in annual interest rate: 1 775.20$
I calculate the interest rates on an annual basis, but the credit card balance transfer I have made are valid for 6 months only.
At this point, having more debts will make no sense. Its actually barely make sense at this point. I am fair play, I like to expose it all…
Here’s my net value:
86 047.56$ (total) in assets + 4 239.96$ in annual dividend income
= 90 287.52$
90 287.52$ – 36 585.03$ (total of debt) – 1 775.20$ (total in annual interest)
= 51 927.29$
At this point, my net value is of 51 927.29$. Since my net value is more than 50 000$, I feel comfortable with my debt situation. At this point, I won’t apply for any more credit line, loan and I won’t borrow any more money using what I call my ping-pong method. At this point, I won’t go deeper in debts.
Did you notice, we are now at a 90 287.52$ (after adding the juicy dividend income). We have less than 10 000$ to go! Nice, but are we going to be able to make it? Yes, but…
I borrow money using credit card balance transfer on a regular basis. I did one back in November 2009 for the amount of 1681.78$ at 3.9%. This one will expire in May or April 2010. So what’s going to happen? If I do not receive a credit card balance transfer, I will have to sell some stocks. If we sell any of our investment, we won’t be able to make it, we won’t be able to reach our 100 000.00$ assets. The market seems to be fairly ok. I can invest 10 000$ in the next 10 months. That’s possible. But if I have to sell anything I hold to pay off one of my credit card balance transfer when they will expire…. I won’t be able to make it. And if not, my live will be ruin. I won’t be able to get my revenge on BMO Bank of Montreal who lay off me very unfairly.
So what are we going to do?
Nice gain for Bank of Nova Scotia (BNS). Too bad the TSX lose points today. However, I update my investment portfolio since so many changes happen in the last couple of days.
I am at 86 047.56$. Also, my level of debts had increased.
Here’s an overview of the situation:
Total assets: 86 047.56$
Annual dividend income (non registered account): 3 933.56$
Annual dividend income (registered account): 306.40$
Total in dividend income: 4 239.96$
My debt situation:
Student loan: 8 464$ at 4.75% = 402.04$ in annual interest
Credit line: 4 840$ at 3.5% = 169.40$ in annual interest
Credit line: 3 922.01$ at 8% = 313.76$ in annual interest
RSP Credit line: 10 000$ at 4.75% = 475$ in annual interest
Credit card balance transfer: 5 000$ at 4.9% = 245$ in annual interest
Credit card balance transfer: 4 359.02$ at 3.9% = 170$ in annual interest
Total of debts: 36 585.03$
Total in annual interest rate: 1 775.20$
I calculate the interest rates on an annual basis, but the credit card balance transfer I have made are valid for 6 months only.
At this point, having more debts will make no sense. Its actually barely make sense at this point. I am fair play, I like to expose it all…
Here’s my net value:
86 047.56$ (total) in assets + 4 239.96$ in annual dividend income
= 90 287.52$
90 287.52$ – 36 585.03$ (total of debt) – 1 775.20$ (total in annual interest)
= 51 927.29$
At this point, my net value is of 51 927.29$. Since my net value is more than 50 000$, I feel comfortable with my debt situation. At this point, I won’t apply for any more credit line, loan and I won’t borrow any more money using what I call my ping-pong method. At this point, I won’t go deeper in debts.
Did you notice, we are now at a 90 287.52$ (after adding the juicy dividend income). We have less than 10 000$ to go! Nice, but are we going to be able to make it? Yes, but…
I borrow money using credit card balance transfer on a regular basis. I did one back in November 2009 for the amount of 1681.78$ at 3.9%. This one will expire in May or April 2010. So what’s going to happen? If I do not receive a credit card balance transfer, I will have to sell some stocks. If we sell any of our investment, we won’t be able to make it, we won’t be able to reach our 100 000.00$ assets. The market seems to be fairly ok. I can invest 10 000$ in the next 10 months. That’s possible. But if I have to sell anything I hold to pay off one of my credit card balance transfer when they will expire…. I won’t be able to make it. And if not, my live will be ruin. I won’t be able to get my revenge on BMO Bank of Montreal who lay off me very unfairly.
So what are we going to do?
For that part, I don't know yet.
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