Net Worth Update – June 2007 (-16%)

For the first time since I started recording I reversed my trend.  Several things happened this month that were detrimental to my net worth.
  • I revised my earlier numbers by using more accurate numbers for my student loan, which was about $500 more than I thought it was.  Total student loan amount is now at $12,600. 
  • The biggest hit was the move into a higher tax bracket, which is taking about $500/month out of my take home pay. 
  • Also big items like a flight to Calgary for the Stampede was made this month, and the investment in Google Adwords for my market testing, those two items took an extra $650 out of my budget this month.
My Net Worth this month comes in at $-3,624,  down slightly from $-3,127 May numbers (revised).
In addition,  this month I also set up automatic payroll deductions into a new RRSP account.  I’m maxing that out at 10% of my gross income.  The result is that I’m now setting aside an additional $400/month for retirement to the $100/week for non-registered investments and savings.  Over all my budget is getting very constricted and will be for the forseeable future.
On the positive side though, If I wasn’t doing these net worth updates I might not have realized how much I overspent this month, and correct for it in July.