Our State of Affairs #1

Briefcase Photograph with Overlay

Well, this is kind of the beginning, isn’t it?  At least, the first point where I tell the world what our finances look like.

I cannot promise that this will be complete, this will be the Coles Notes version, as there is enough information to fill an entire blog, I assure you.

As I covered off in the About page, we both have fairly high income, professional jobs.  I work in a finance department and Tom works as an engineer.  We both work for the same company, which has some pros and cons.  Perhaps that is a topic for another time. That time may very well be tomorrow.

We graduated from university with no debts, thanks to our summer jobs and our parents. We realize that put us at quite an advantage over others and we are rather grateful. Tom accepted a job and we moved across the country for it. I (Marie) didn’t know too much about the town, but figured that I could make something work. On arriving, I got a part time job, then a temporary contract job and took my real estate course and exam.

I was saving up to go on an “I’m finally done university” international trip, which was fantastic.

When I got back from nearly 3 months abroad, I started looking for more “real” work. We also, sort of accidentally, started looking at houses to buy.

Eventually, we purchased a two bedroom, two bathroom condo, where we still live today. We purchased it approximately ten months after arriving here and having one “adult” job.  This is a pretty important part of the story, because it shaped our finances for the next several years.

Today, our condo is far and away our largest asset.  It is worth approximately $280,000 (Canadian, remember).  Unfortunately, its value has basically been a flat line since we purchased it, five years ago.

The good news?

It’s ours.

We own it completely.  We own it outright.

Due to the way the markets were acting when we purchased it, which was in July of 2009, the risk-free rate of return that we received for paying down the mortgage was very good, so we did.  Then, it became addictive. We fed the addiction and made it through to the end.

What other assets do we have?

We own two, moderately new vehicles.

Oh, you mean *real* assets.

We have a fledgling stock portfolio. We each have retirement accounts, both our own and through our employer. We participate in the employee stock purchase plans. Tom has a little bit of money in a TFSA at the moment (a few thousand).

We have some cash padding in our main bank account.

And that’s about it.

So what’s your plan?

This year, our goal is to save, or “save” if you are being pedantic, $80,000.  The bulk of that has been going to our one creditor, Tom’s parents. They lent us some money a few years back and we are in the final stretch for paying them off. As I write this, we have $22,000 to go.

That ought to be taken care of by the end of the year. Then, we can move on to more exciting goals.

I hope you will stick around to find out more about them. This has been a short version of our current state of affairs. What do you think?

 

About Marie

Marie is a young professional who is prone to angry verbal outbreaks directed at the TV when politicians and journalists don't understand math and economics. Delicious food, traveling near and far, attempts to learn other languages and books about global development keep her happy.

Comments...

  1. Welcome to the world of personal finance blogging! i.e. putting all your personal info out on the interwebs and hoping for the best :)
    Emma @ emmalincoln.com recently posted…What’s $100, has 1 zipper, and is a total waste of money?My Profile

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