Previous update here.
May was a fairly full on month here at wealth from thirty. Teaching at the University is finally over for me (I gave my last lecture in early June) and I’m finalising my Masters thesis for submission. Getting the thesis done will give me a bit of breathing room in July. A few big ticket expenses included fixing a garage door motor, registration and insurance for my car and putting money aside for travel also meant I saved a little less this month.
Quick Summary: Cash increased following pretty aggressive saving (40% of my non-scholarship income). Superannuation and investments increased with the market continuing to recover…it’s the long term trend that counts but I’m actually really pleased with the composition of my Super at the moment and I’m eagerly awaiting the end of financial year distributions (these are typically the largest yet if history is any guide, they won’t be paid into the account until August). Credit card debt was fully paid out before I purchased a few awesome music tracks and e-books. Other Liabilities reduced too. Overall, net worth increased $2,366AUD. I’m trying to save as much as possible over the next two months before my scholarship ends and I go into business for myself.
Cash: $7,647 increased 1.84%
Superannuation: $32,728 increasing 3.72%
Investments: $4,365 up 8.55% (net deposits $200).
Other Assets: $12,427 down 1.20%
Total Assets: $57,166 up 2.70%
Credit Cards : ($58) reduced 81.78%
Student Loans: ($30,790) steady
Other Liabilities: ($21,767) down 2.68%
Total Liabilities: ($52,615) decreased 1.61%
Net Worth: $4,551 up 108.29%
- Cash consists of online savings accounts. I moved away from carrying cash in Q1 2015 and make 95% of my transactions electronically, for more accurate and up to date record keeping. I have a small transaction account holding around a tenth of my cash funds with the balance held in an ’emergency fund’ and a smaller account for rent savings/payments, both in modest interest bearing accounts (2-3%p.a.).
- Superannuation is the Government mandated retirement savings system in Australia
- Other Assets consists of one car at market value, depreciating monthly.
- Student Loans consist of the HECS/HELP debt provided by the Australian Government, indexed to inflation. The loan repayments are based on taxable income, with repayments required from taxable incomes of $54,126p.a. or more in 2015.
- Other Liabilities consist of two loans which are interest free and don’t require repayment until I finish my Masters degree.