Networth March 2013

great progress!

great progress!

March was a great month! I crossed back over the $45k networth mark actually to my highest networth to date!

My FU money aka my emergency fund is also back on the rise. I’m keeping an amount in my misc. savings because my actual emergency fund sits in a TFSA and I find I frequently use a couple hundred dollars as an overdraft so I’ve been keeping a portion in my other savings account. My combined emergency fund is now back up to $5,987.08. So I’m now only short twenty three dollars to have my emergency fund ‘full again’. I don’t expect to be able to add any more cash to this the next few months however as I booked a ticket to Rome and I should probably pay for that along with accommodations and all that other stuff. 😉

Copper only ate up $200 of my budget this month compared to the $600 in his first month here, I intend to keep that number roughly that or a little lower.

So, I think I can say my mission for March has been accomplished. For April I’ll focus on getting my creditcard back to a steady zero, always having money to cover whatever the balance is. (I’m currently turning over money on that card fast enough to not pay interest but I’m a little uncomfortable with that dangerous game) and my second focus will be paying for my planned travels in the fall. That’s about it for me, how’s your tax season treating you?

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5 Comments

  1. Congrats on your progress! I'm currently trying to figure out what to do with my tax refund.

  2. Nice job on the 2% gain 😀 I just filed my taxes last week and am expecting a receive little under $1K from the cra. How much do you plan to spend on your trip to Rome? My friend just came back from there and said it was a great experience :0)

  3. Most people should have an emergency fund equal to their minimum monthly expenses times at least three months, and preferably six months. If either goal is too lofty currently, keep in mind that every little bit helps. Even stashing away a few hundred to a few thousand dollars for an emergency can help you sleep better at night.

  4. While an unexpected bill like this might rightly be considered an emergency, you should stop for a moment and try to come up with an alternate plan to pay for it, if at all possible. Your emergency fund should be untouchable unless you’re hit with a bill that you literally can’t afford to pay. Catastrophic medical bills or a sudden layoff might warrant breaking the seal on the emergency fund, but something you can pay off with a few lifestyle tweaks does not.

  5. We have 3 small children, and only my husband’s income is relatively secure. As a freelancer, my income varies wildly from month to month, so we’ve decided to have a $3,000 emergency fund. Even though this is more than double what Dave Ramsey recommends while we get out of debt, I still feel nervous. [removed outdated link Feb 25, 2014]

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