September 2011 Personal Finance Update

My networth for September increased by $7,469.33 to $537,731.15. But only on paper.

The actual increase is less than that because of the time lag between receiving the rental for the condo and my first mortgage payment. Therefore, about $6,000 of that is earmarked for mortgage payments down the road.

Spending this month is mostly alright, except for the cab rides. What else? I spent $225.70 just on cabs this month. It is still far cheaper compared to car ownership, which will run me at least a thousand a month. But that’s $225.70 that I shouldn’t have spent. I don’t know how October will go, especially as there is going to be a tiring week-long meeting with foreign consultants at work, and that usually means more cab rides.

Stocks have tanked another thousand odd dollars, although SIA paid out $480 worth of dividends for my 400 shares. I forgot to go to the bank this Saturday to liquidate one of the Fixed Deposit account so I have to wait until next week before I can pick up some more shares I have been eyeing. Despite the capital losses on paper, I received about $4000 worth of dividends to date, which is about 2.6% ROI. Nothing spectacular but better than nothing, I suppose.

Oh, and I had to pay for the conservancy charges for the condo up to November in cash, and that was about $950, but that was covered by the two rental cheques anyway, so everything was good.

I am considering opening a checking account, now that I need to start writing cheques on a regular basis. I have been using Dad’s cheque book which he normally keeps in his office, and it is a hassle to keep asking him to bring it back and forth. Yes, that’s right. I have no checking account of my own despite being 33 years of age. In the age of online banking, AXS machines, credit cards and ATM machines, no one really needs one. I have to confess that I didn’t even know how to write a cheque until this year. I have a credit line with checking facilities, but I am a little worried about using it as a normal checking account, because any mistakes in transferring money to the account will result in interest payments. I’ll have to think about it more.

So that is it for September.


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