Monday 24 August 2020

The Homestead Fund Update

Okay, so it is that time again, when I update how my progress is going on my “Grand Savings Plan!” (to build my "Homestead Fund") 

Okay, so let’s see how I did . . . 

For review, here is how things looked from last payday . . .

That is 45.5% (of my Savings Target).

Okay to be clear, after the dust settled after I had moved things around, I was able to go up one tenth of a percentage point, to . . .

That is 45.6% (of my Savings Target) (Up 0.1%).

And this is how things look like, after the dust settled on this payday’s budget . . . 


That’s right things dropped up to 45.4% of my savings target. 

That means I put away -0.2% of my total Savings Target this payday. (Or I only lost 0.1% of my savings target, depending on how you look at it.)

What happened was that the value of my investments changed. I still put in my almost a full percentage point. A few points shy, so that was good.

One type of investment went up about a 0.5% (also good). Another type went down in value to the tune of almost 2.5%! (Again this is rated in relation to my savings target.)

So what happened was that despite me putting cash into savings the value of what was in there dropped. So it was almost a wash, yet not quite.

Again, this is what happens when you invest, things to up and things go down.

I am most pleased to announce that I did in fact fully-fund my Mid-Term Savings back to its fully-funded state.

I may or may not have seriously dipped into my Personal Overdraft to do it, but that is beside the point.

I will get out of my Personal Overdraft come next payday, which will seriously curtail what I can put into savings next payday, but it is worth it.

At least I can finally start putting cash into my TFSA again. That, and I can relax a bit, knowing that I have my Mid-Term Account back to “normal” again.

As always: Keep your head up, your attitude positive, and keep moving forward! 

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