It certainly felt that way. My investments keep melting as if was spring already, and with the large yearly expenses that I mentioned last month... Ouch! At the end of the month I added $2k to my RRSP account, and it simply looks as if it simply disappeared when you compare the current value with last month's.
So let's look at the detailed carnage.
Assets ($133 989, down 0.5% from $134 669)
- Bank Accounts $4 425 (up 11% from $3 990)
- Emergency Funds $3 394 (up 0.3% from $3 383)
- RRSP Accounts $28 993 (down 3.5% from $30 033)
- Non-Registered Investments $10 728 (down 3% from $11 058)
- Home $86 100 (stable)
Liabilities ($68 115, up 2.8% from $66 228)
- Credit Cards $4 642 (up 0.9% from $4 601)
- Mortgage $54 989 (down 0.2% from $55 110)
- Heat Pump Loan $6 386 (down 0.7% from $6 439)
- Line of Credit $2000 (up 100% from $0)
Although the cash in the bank accounts was higher, this was because of the planned expenses. A bit of that money is already gone, with more coming out next week. Liabilities have crept up this month, because the $2k I added to my RRSP account came from my line of credit. This is a very short-term move, which gave me the flexibility to contribute right before the limit for the fiscal year 2008. It also transformed a tax bill into a tax return. I plan on paying back this part of the line of credit with the next 3-4 months. Credit card debt was fairly stable but remained high. This was caused by some car repairs that were financed on the card.
For the next couple of months I will concentrate more on debt reduction than on investments. It now looks like the recession will be long and painful, so I will probably feel less stressed if my debt load is lower. And since we have some more renovations planned for this summer, less debt seems like a good idea.
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