2015 goals / financial health check / Personal Finance

Financial Health Check #6

One of the reasons why I purchased my domain (as opposed to keeping the free WordPress one) was because I had hoped that it would force me to blog way more regularly. I thought it started off great, and then I just kind of disappeared! The blog and my goals have been on my mind everyday – it’s just that I hadn’t gotten around to actually sitting down and putting thoughts to a page. This Bridesmaid thing is no joke and I haven’t had a free weekend since (not wedding stuff, just other mandatory engagements) which has left me utterly exhausted.

In bittersweet news, the Blue Jays played an INCREDIBLY riveting game last night against the Rangers in the last game of the series and thankfully won, advancing them to the semi-finals. I suppose I am what some of my male coworkers scornfully label me as a “bandwagon fan”, but I just don’t have time to keep up with all of their games! But if my baseball or hockey team makes the playoffs, you can bet your bottom dollar I’ll be cheering for our team just as hard as all the other “true” fans 😉 The only bitter parts about this is that I’ll be spending a lot more time watching these next games and potentially even coughing up money for one!! Tickets sold out in minutes, of course, but a friend of mine works at the stadium and gets 2 post-season tickets per game at 50%, and since the Jays haven’t made the playoffs since 1993, I likely won’t have an “in” the next time the Jays make playoffs, and tickets are being resold for waaaaay more than face value, it only seems like the right choice to take my friend up on the offer if he’s willing to share his discounted tickets with us!

Thankfully, despite all the busyness of being a bridesmaid for two upcoming weddings and all the Jays excitement and fever, I have not fallen behind in keeping track of our finances.

The last Financial Health Check I posted was on September 17th, so it’s been an entire 4 weeks.

So what’s happened since then?

balance sheet - Oct 15

Our Net Worth has gone from $457,384.18 to $458,876.07, a slight increase of $1,491.89 (+0.3%). While this isn’t a great increase given all the cash inflows since then, at least it isn’t a decrease and is still a (small!) step in the right direction.

Liabilities have decreased from $$441,887.55 to $440,425.39, a decrease of $1,462.16 (-0.3%). Obviously, that Net Worth moves inversely to Liabilities is no great surprise to anyone, but it would still be nice to see some bigger strides in reducing our liabilities.

Our HELOC balance has decreased from $9,995.50 to $9094.99, a decrease of only $900.51. Unfortunately, every source of cash flow since October 1st has gone towards the month’s bills, leaving none leftover to put towards debt repayment *huge sad face! Plus, on October 8th, another $21.41 was added to the balance in interest, although I suppose the fact that it’s $4.99 less than the interest that was added in September should be a comforting reminder that we have made some progress on our HELOC balance.

HELOC Oct 15

We currently have $4,922.18 in our savings for upcoming bill payments this month and have another $639.74 left to go to cover the remainder of the last mortgage payment and our banking fees due by October 26 and 31, respectively. However, with 2 more paychecks for me and 1 more for the Mr. before month’s end, I’m hoping I’ll be able to put at least another $1,100 towards the HELOC.

October’s been a busy and expensive month (2 bridal showers, one father-in-law’s birthday, one nephew’s birthday, one mother-in-law’s birthday … not to mention the Jays!) but November and December don’t promise to be much better. I’m not confident that we’ll be able to pay off our HELOC before December 31 and meet our goal for 2015 but I do hope to drastically cut down our spending (i.e. Visa bills) to hopefully get us as close as we can possibly get.

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