Another Contest at WhereDoesAllMyMoneyGo

There is another nice contest at WhereDoesMyMoneyGo.com -- a GPS.

Telus Dividend Increase

I'm getting a pay raise!

Telus has just announced that they are increasing their dividend from $0.45 to $0.475 per quarter. That's only a 5.5% increase, but considering the current state of the markets, it's nothing to sneeze at.

I own Telus through the Dividend ReInvestment Plan, so I can purchase more shares of the company without paying any fee. Furthermore, the increased dividends are used to automatically buy more shares of the company.

Free Book from WhereDoesAllMyMoneyGo.com

Preet Banerjee ia holding a contest on his blog, where the price is a free copy of The Snowball: Warren Buffett and The Business of Life, the new biography of the best-known investor of our time.

You only have to leave a comment here.

Share Purchase: GE

I just purchased some more shares of General Electric (GE) in my RRSP, at slightly above$18 per share. I had established a first position in the company this summer at $29, so I am essentially averaging (and doubling) down.

My beliefs are that the company still has good prospects in the next decades. It's been through recessions before and survived. It pays a nice dividend (over 6% right now), so I can afford to wait until the share price recovers.

Net Worth Update

As of November 1st, my net worth is $70 885 (down 3.6% from $73 501). If I exclude house-related assets and liabilities, my net worth is $46 852 (down 6.4% from $49 639). Since the beginning of the financial crisis, I am down almost $5 000, or about 6.25%. There are signs, however, that the worst of it may be over. The depressed prices could still linger for months, which to me is good news. After all, I am years from retirement and will be a net acquirer of stocks, so low prices are what I am looking for.

Assets ($135 276, down 2.6% from $138 843)

• Bank Accounts $3 291 (down 33% from $4 945)
• Emergency Funds 3 340 (up 23% from $2 720)
• RRSP Accounts $32 527 (down 7.7% from $35 253)
• Non-Registered Investments $9 660 (down 1.6% from $9 818)
• Home $86 100 (stable)

Liabilities ($64 391, down 1.5% from $65 341)

• Credit Cards $2 306 (down 25% from $3 097)
• Mortgage $55 469 (down 0.2% from $55 588)
• Heat Pump Loan $6 597 (down 0.7% from $6 650)
• Line of Credit $0 (stable)

Credit card debt has gone down a lot, but the trend will reverse in November since I am having big car repairs done, which will be on a 12-month no interest financing. There was quite a bit of movement between my bank accounts, as I moved some money to fund my new TFSA account at ING to take advantage of their promotion. I also put more money than usual into my non-registered investment (through my DRiPs) to take advantage of the currently depressed market prices. My plan is to keep doing that as long as the prices remain good. Now is not the time to increase my cash position.