Happy Victoria Day investors!
I am slowly getting there. On the date of May 20, 2021, I am only missing $1,513.07 before hitting on my first $300,000 net worth. For this past Friday, my numbers closed the session on lower results. My non-registered portfolio closed at $123,916.36, my US portfolio at $4,417.17 USD, my TFSA portfolio at $114,838.54 and my RRSP portfolio - stocks only - at $57,629.86. I currently have $423.24 in cash inside my RRSP portfolio that is coming from dividend distribution. Between May 20 and now, my margin debt increased to $48,243.32 (interests). With all the drama surrounding Bitcoin and Ether, I may not be able to reach the 300k anytime soon, but I am ok with that.
This week I received a super big paycheck and my next one should as good. My only problem was: what should I do with that money? It didn't take me long. I decided to pay down my margin by 1k and to put $600 aside in my saving accounts. My savings are now located in 3 separate accounts, in 3 different institutions. My margin debt is currently $47,243.32. I would like to see that amount reduced to under 40k.
I did a good job for the past couple of weeks at trying to control my expenses. To do so, my goal is not to spend money on any clothes for this summer, no haircut, no pedicure or manicure, and no spending money on whatever products that I don't need. It happens that I like to spend some money on hair and beauty products, makeup... My main goal for the summer is not to spend any money on clothes, and not get any hair cut. Clothes can be expensive. I was quickly looking over some clothes the other day at Gap - without buying noting - and it shocks me how clothes can be expensive when they are not on sale and when you look at the price tag correctly. There something about the great weather that just makes a girl spend some money on clothes for no good reason, other than just spending money around. These days, going out for coffee is my only luxury.
I am pretty much living like in my younger days when saving money used to be so important for me. The trick is to just keep going.
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1 comment:
Keep up the great work. I achieved a net worth of $3 million at 62 and have been the only breadwinner in my family. Hope you reach $300k this week. It’s amazing how compounding builds wealth.
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