This is my version of my November round up.
No budget numbers, no budget amounts spent. That’ll resume for December 2008.
Here’s a quick recap of my assets and liabilities (a.k.a. my balance sheet)
MAY 2006 (when I graduated)
$500 – Bank Account
$500 in Assets
LIABILITIES: – $59,000
- $9500 – Small University Bank Loan (TD)
- $15,000 – Larger Business School Loan (Scotia)
-$5500 – Personal Loan (Other)
- $29,000 – Government Student Loan
- $59,000 in Liabilities
MAY 2006 TOTAL NET WORTH: -$58,500
NOVEMBER 2006 – TODAY – 2.5 years later: $83,480.07
$2000 – Car of what I could sell it right now and just be done with it
$2990 – Cash in Chequing/Savings (Personal)
$26,733 – Company Earnings not taken out in Dividends (No taxes paid yet)
$32,136.78 – Accounts Receivable
$3869.31 – Expenses Receivable
$7,369.89 TD Retirement (Market Value) ($10,850.79 is my Book Value)
$8,381.09 Sunlife Retirement (Market Value) ($12,559.74 is my Book Value)
$83,480.07 (Market Value but before taxes)
LIABILITIES – $0
No credit card debt.
No other lines of credit debt.
No student debt.
$0 in Liabilities
NOVEMBER 2008 TOTAL NET WORTH: $83,480.07
Not a small amount by any means, but I cleared everything except $15,000 in loans before I started making $110 – $130 an hour. I never used to make this kind of cash.
But I managed to clear the bulk of my loans ($44,000 worth) with a wage of $65,000 a year.
I scrimped, I saved, I budgeted, tracked expenses and I was very lucky in terms of my career, job’s benefits and flexibility especially in the market that we’re experiencing right now.
One day, I will write the whole story out in detail…. I have a post coming up on this, when I get around to writing it.
And I’ll even have pretty graphs!!