January 2017

Assets December 1st, 2016 January 1st, 2017 Change
Cash $2,171.43 $4208.63 +$2,037.20
Emergency Fund $3,421.06 $3,421.06 +$
RRSP $10,419.21 $11,102.31 +$683.1
TFSA $3,651.18 $3719.58 +$68.40
Lending Loop $604.56 $608.77 +$4.21
Total $20,267.44 $23,060.35 +$2,792.91
Student Debt $34,145.59 $34,236.64 -$91.05
CIBC Credit Card $1,104.14 $0.00 +$1,104.14
AMEX Card $219.05 $244.07 -$25.02
Total $35,447.78 $34,480.71 +$967.07
Net-Worth -$15,180.34 -$11,420.36 +$3,759.98

January 2017

January turned into an expensive month for me. With paying off Christmas bills and a few bills for my car (new brakes and stickers for my plates) I spent more money than I normally do! That being said I was able to save a substantial amount and increase my overall net worth. I will continue to make strides to bring my expenses down and keep my savings up as the year progresses. If you are interested I also updated my Goals for this year if you want to be able to check out my progress!

I hope everyone was able to track his or her expenses for this month. It truly is a menial task that takes a lot of time and patience. I am looking forward to seeing how everyone did and where you believe you can improve. I know I need to focus on cooking my own meals for lunch and breakfast.  Check out the Challenges page to see February’s challenge! There may even be a prize in it for you if you participate!

I hope everyone enjoys the reviews I have been posting. I will be looking at reviewing another “robo-advisor” shortly once I have sufficient funds to meet their minimum account amount. I will also be looking to review a few other products throughout February. If you have any financial products you would like reviewed please send me an email at upsanddownsguy@gmail.com and I will be happy to take a look for you.

This month, I was introduced to the concept of “churning”. Churning is essentially applying for credit cards for their various rewards. As you may have noticed many credit cards offer sign up bonuses if you use their card and meet the minimum spend requirements. Churning can be extremely lucrative if done correctly but also extremely dangerous if you are not careful. For this reason I will be experimenting with the process further before I make a post containing more details.

Also on a side note, I have decided to start my own business and incorporate. Say hello to U & D Inc! This business is focused on my blog but I will be looking to branch out into multiple streams as I progress on my financial journey. I have started to generate enough side income that incorporating made sense financially to try and shelter some of my earnings from taxes (corporations are taxed at 15% rather than almost 40% which I am taxed at my daily job). There are many interesting benefits involved with being a corporation. If you have a steady source of income outside of your daily job I highly recommend doing a little research and seeing if incorporating could be beneficial for you!

That’s all for this month!





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