It was a slow month in July. But at least I’m back in the black. 🙂 Household expenses were pretty normal, but incomes were above average; I received $800 of interest payments from a variety of loans such as P2P lending contracts and mortgage investment corporation funds. Yay!
Liquid’s Financial Update
*Side Incomes:
- Part-Time = $1100
- Freelance = $700
- Dividends = $800
- Interest = $800
*Discretionary Spending:
- Fun = $300
- Debt Interest = $1100
*Net Worth: (ΔMoM)
- Assets: = $1,111,700 total (-2,000)
- Cash = $2,500 (-2800)
- Canadian stocks = $146,400 (Unch)
- U.S. stocks = $91,400 (-200)
- U.K. stocks = $19,900 (-200)
- RRSP = $83,100 (+500)
- Mortgage Funds = $31,500 (+500)
- Peer-to-Peer Lending = $21,100 (+200)
- SolarShare Bonds = $9,800
- Home = $270,000
- Farms = $436,000
- Debts: = $481,600 total (-4,400)
- Mortgage = $182,500 (-400)
- Farm Loans = $188,300 (-500)
- Margin Loans = $57,900 (-2400)
- TD Line of Credit = $12,400 (-600)
- CIBC Line of Credit = $24,500 (-500)
- HELOC = $16,000 (unch)
*Total Net Worth = $630,100 (+$2,400 / +0.4%)
All numbers above are in $CDN.
I took some savings in July and paid down some of my higher interest debts. Now that the cost to borrow is 0.25% higher I have to lower my overall debt to not become overwhelmed by interest payments.
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Random Useless Fact
Sometimes tough love is the best way to learn.
$800 in dividends is awesome for a “slow” month. Keep up the good work!
Thanks. July and January are usually pretty good month for side incomes.
Nice update.
Can you post the interest rates per each debt ?
Sure. 🙂 Here are the interest I pay each month as of July 2017.
Mortgage = $342
Farm Loans = $563
Margin Loans = $105
TD Line of Credit = $51
CIBC Line of Credit = $54
HELOC = $42
I normally post this detailed information only once a year in December or January. But maybe I should start doing it for my monthly updates as well.
Sorry I meant the interest %
I’m sorry, I misread. Here are the interest rates.
Mortgage = 2.3%
Farm Loans = 3.5%
Margin Loans = 2.2%
TD Line of Credit = 4.7%
CIBC Line of Credit = 2.7%
HELOC = 3.2%
Please note these interest rates may change for next month because the Bank of Canada recently raised the overnight lending rate which has affected floating rate loans such as my mortgage. I will update the new interest rates on my loans in my next fiscal update post.
Do you ever consider investing further into BC real estate?
Yes, but not at this time because I don’t see any good opportunities in BC real estate these days.
Great blog.
Do you have a primary job or do you just focus on freelance and part time for primary income sources.
Thanks.
I have a primary job, which I work at full time. I make between $3,000 to $4,000 a month from that job, after tax.
I found your site about a month ago. You have a unique perspective about investing that challenged some of my assumptions, and that’s refreshing. Your site along with a few others helped motivate me to start my own blog in fact, which I had been putting off for quite some time. Keep up the great work.
Welcome to the pf blogging community. :0) I like how you update your financial status with tables and charts too. Makes it more fun to read through. Anyway, good luck with your home remodeling projects.
Thanks for the kind words. The remodel is taking longer than we’d hoped, but such are the joys of buying a fixer upper. We’re hoping the equity added will be well worth it, but only time will tell.
The MIC piqued my interest and will read more about it on your blog and whatever’ it leads me to.
Will TSE:MKP be treated as a stock? As in investor has to pay like buying a stock w/o tax expense in TFSA? I’m surprised to find out that the price is lower yet with higher returns than REIT.😊 Glad to know other ways of investing. Thanks for sharing a diversified portfolio.
Yes, MKP would be treated like a stock. The distributions are interest though so putting it in a TFSA or RRSP would be a good idea. 🙂
Another great month for you! $800 through P2P lending etc is great! $800 in dividends is great too, I don’t think I’ve ever reached that amount yet in a month.
Thanks. I have to watch my spending though to keep my net worth growing. I’ve noticed my expenses are up since I’m dating more. I guess it’s worth it though. 🙂