Personal Finance

Net Worth Update (August 2017)

Previous update here.

Quick Summary: August was an awesome month. Work was productive, my PhD edged towards getting done (by the new year, I hope) and I ran in my first half-marathon, which was freakin’ cool. It was also really nice to revamp the blog and go self-hosted. Finances this month improved nicely, so much so that I can finally taste a marginally positive net worth is just around the corner! 

A portion of my tax savings for last year became available, so they went straight into my fortress fund, aka the emergency account. By end of August this sat at a healthy $7,763, or somewhat more than 2 months expenses. My goal is to hit $12,000 as a minimum.

I added $90 to my investment account and $90 to my Superannuation retirement account. Overall, I managed to save over half my income, although excluding the tax benefit my savings rate would be around 30%. Not included here was also some dividend  income – the first since starting the blog – of $192.80, after accounting software provider Reckon de-merged its Document Management business via an in-specie dividend payment.

Spring 2
Spring is definitely in the air.

For a bit of finance-fun during August, I read The Barefoot Investor, which is an Australian personal finance book by author / financial advisor Scott Pape. Even though I found some of his writing grating (tons of stereotypes etc.) it’s a very decent roadmap to someone starting out, wanting specific steps on how to get their finances in order.

I’m really excited going forward. Can’t wait to finish my thesis. I’m also really keen to round out my emergency fund so I can start directing savings toward either a house deposit or a deposit for a business premises (I rent in both cases at the moment). That will most certainly be a multi-year project though.

Savings Rate: 52.2% (inc. tax refund)

Assets:
Cash: $8,667.32 increased 146.44%
Superannuation: $38,468 up 0.65% (+ $90 investment)
Investments: $9,480 up 3.21% (market return + $90)
Other Assets: $10,369 down 1.20%

Total Assets: $67,285 up 9.34%

Liabilities:
Credit Cards : ($1,591) up 19.34%
Student Loans: ($32,231) steady
Business Loan: ($13,150) reduced 2.23%
Other Liabilities: ($21,500) steady

Total Liabilities: ($68,472) decreased 0.06%

Net Worth: ($1,187) increased 82.99% (mmmm, you can taste it right! Delicious).

Screenshot 2017-09-01 12.39.20

As always, thanks for following along! How did your savings grow or debts shrink in August?

12 thoughts on “Net Worth Update (August 2017)

  1. Firstly that picture is gorgeous and what initially drew my attention.
    Sounds like a busy but productive August. A 52.2% savings rate – well done 🙂 even if that did include your tax refund. most people have already spent their’s before they get their hands on it.
    That red line is getting so close to zero and beyond! Keep chugging along.

    1. It’s a lovely shot huh. Spring is probably my favourite season, the flowers in the grass just start to bloom and the air is fresh and crisp (yeah, I like that kind of thing!). It was a busy month but I’m glad to make hay while the sun shines! Thanks for stopping by Miss B.

  2. So very close to zero. Honestly, though, I think the PhD is more important, especially being so close as well. Once that’s done and you have more time, your zero Net Worth and beyond is inevitable. Onwards and upwards!

    1. That’s true Mrs. ETT. I can’t wait to have regular weekends again. Just a little longer and it’s done. Thanks for commenting!

    1. Any donations entirely welcome J 😉

      This year has been great and I’m enjoying it tons. The photo (I wish I could say I took it!) I think is of the Hallerbos forest in Belgium. Maybe AmberTreeLeaves would know it.

      Thanks for stopping by!

  3. It’s a beautiful picture, I agree! I like the NW chart too! When I read “spring is in the air” and I saw August NW update, I admit I was confused… then I realized you’re in Australia! 🙂 Congrats on your PhD progress!

    1. Thanks GYM. It’s still wonderful outside – loving it. And almost warm enough to consider hitting the beach 🙂
      Glad you stopped by and thanks for commenting!

  4. Ciao WFT, just started reading your blog and stumbled in this post. By the looks of it you are managing to bring everything in the “black”, which is always good. Do you repay the loans every month or are they “frozen” until you get your PhD? I’m off to read the other posts… 😛
    ciao ciao
    Stal

    1. Hey Stal, thanks very much for dropping by. Most of the loans are frozen (or indexed to inflation) until I finish my PhD. My Uni loan will always be indexed to inflation, so it’s very low on the priorities list. The business loan is the only one which I repay monthly for now. Hope you enjoy the other posts!
      WFT

    1. Hi DL,
      Thanks very much for dropping by and the encouraging comment. I’ll be hoping to keep my savings rate above 40% wherever I can… Can’t wait for September month end either!
      WF30

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