Happy New Year 2025!

The TSX closed the last trading day of 2024 at a very solid 24,727.94 points. I ended the year with a net worth of $456,092.61. I started the year with a net worth of $380,929.15 and a margin debt of $25,693.10. Financially speaking, 2024 was an incredible year that went far beyond anything I could have imagined. Of course, I was really hoping to reach the $400k mark, but I never thought I could exceed $450k. And I certainly never expected to completely pay off my margin debt by the end of the year! I’ve been debt-free since mid-December, so no more margin debt for this girl!

Today marks the first trading day of 2025. The TSX closed today's session at 24,898.03 points, up +170.09 (+0.69%). Starting the new year with gains is certainly a great way to begin. My non-registered portfolio closed today’s session at $152,368.30, my US stock portfolio at $5,959.19 USD, my RRSP stocks-only portfolio at $84,478.29, and my TFSA portfolio at $138,885.15. My stock portfolio grew by around $500 today. Nothing major, but a gain is still a gain.

I recently received some nice dividend distributions. I must admit it’s quite satisfying to see the amount deposited directly into my non-registered portfolio without having to deal with any margin debt. It’s a positive change I’ll be enjoying from now on. I haven’t yet decided what to do with the dividends earned in my TFSA. Should I reinvest the money and keep it in my existing TFSA portfolio, or transfer it to my non-registered portfolio and then to my savings account? I sold the BCE shares I held in my TFSA portfolio, but I still qualify to receive one last dividend distribution from BCE in mid-January.

I’m starting 2025 with $1k in savings. It’s obviously still a small amount, but it’s a good step in the right direction. At the start of a new year, I like to budget and estimate my expenses for the year ahead. I’ve explored a few scenarios: I could save $28,000 by the end of the year. It’s not impossible, but it would require living on a very strict budget. I’m generally good with managing my money, but I approach it my way. I don’t set a fixed budget, but I do have a general framework that acts as a guideline. While I’m in New Brunswick, I tend to be more frugal, making it easier to save.

A more realistic savings goal would be $23,000. However, after some thought, I decided to aim for $20,000 in savings for 2025. This gives me more flexibility for extras, summer vacations, and so on. One reason I prefer a realistic goal is that I’d like to travel a bit more in 2025. I’ve never visited Mont-Tremblant, even though it’s not far from Montreal, and I haven’t been to Quebec City in a very long time. A $3k cushion allows for some fun trips like these. My $20k savings goal accounts will also allow a $4k expense for summer vacation and around $1.5k for hunting season.

2025 marks my 19th year as a blogger—I started this blog in 2007. It also marks another, more significant milestone: I’ll be turning 45 years old in 2025. It’s hard to believe, but here we are!