My Networth: April 2009
This is my first networth report. Beware, it can be quite lengthy but it should be very interesting to see just how much has changed since I embarked on my first real occupation starting in June 2007 after my university training.
After two years of working, I finally bring the whopping $160,000 education debts down to $0 on April 30, 2009!!! This includes both Canadian and provincial student loans, as well as living expenses incurred during my university years. This is a great accomplishment for myself; I should pad on my shoulder….hehee.
I also managed to buy a new car in December 2007—a Hyundai SUV, 2008 Tucson V6 4WD fully loaded. I bought a new car, because I was living with myself and my family was living very far from me (at least 4 hours by flight). Additionally, I didn’t know anyone in town when I moved here for work. It could be quite inconvenient if a used car broke down, so I decided to buy a new car lest my parent worried. Why 4WD? Because I’m living in the northern part of Canada. 4WD can be useful during winter in case the car gets stuck in snow. I can still remember those few painful months (from June 2007 to December 2007) where I walked to work everyday even during snow days!!! With this new car, I end up with a car loan which is not a big deal, because it is 0% down and 0% interest rate for 4 years.
Here is my networth as of the end of April 2009.
| Assets | $89,700 |
| RRSP | $19,600 |
| TFSA | $5,000 |
| High Interest Savings | $46,000 |
| Car minus 30% depreciation rate for year 2008 and 2009 | $19,100 |
| Liabilities | ($69,200) |
| Income Tax & CPP Tax (estimated for tax year 2009) | ($43,200) |
| Car Loan | ($26,000) |
| Equity | |
| Networth | $20,500 |
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