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Sunday, 3 August 2014

Aug 2014 Net Worth Update +0.85% - Despair sets in

I am finding it increasingly difficult now to get by every month on my meagre salary. This month was especially close as I struggled to pay everything off and at one point my chequing account had a balance of $0.01 before the next paycheque went in. In the previous month's net worth update I gave the definition of despair because it is the emotion I am experiencing at the moment. My interest in personal finance takes a back seat when I don't have any room financially to move around. I am faced with the same situation each month whereby one of my paycheques goes almost entirely to paying my rent and the other goes to paying off my expenses which I put on my credit card. It is made more difficult because every month 10% of my salary goes towards my company's employee share purchase plan which allows me to buy shares at a discount. I had hoped to continue with this seeing as it is a guaranteed positive return each month but I may have to put it on hold until I can increase my salary or find another source of income. I have attempted to cut my expenses but after crunching the numbers, the amount that I would be able to save is really quite minimal and would more negatively affect my quality of life than anything.

On that depressing note, here are my numbers for the month.

TFSA - $36,683.00 +0.6%

RRSP - $5,267.86 +0.6%

Company stocks - $2,664.95 +3.9%
(stocks purchased this month = $298.64)

Chequing - -$590.81

Total: $44,025.00
Gain: 0.85% or +$372.24


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