Personal Finance

Net Worth Update (October 2017)

Net Worth Update

Previous update here.

Quick Summary: I can’t believe how fast this year has flown by. It feels like the past 10 months have gone by in three! Kept my head above water in October, just. Cash increased a little. International markets have been soaring of late, and my retirement account breached $40k for the first time ever. The WF30 portfolio did very well too. You can read the 6 month report for the WF30 portfolio here. Overall my assets rose just over 4%. Pretty decent really. Total Liabilities were basically steady.

My washing machine broke so I’ll have to replace it this month. I’m just waiting on my landlord to come over and remove the old one which was included in the lease but at no charge – the deal was if it no longer worked I’d just buy my own. In the mean time I did a few hand washes and soon realised for $5, the local laundromat was far more efficient! I also managed to save nearly a quarter of my income which I’m really happy with. The trend has been down for the past few months but there have been a few unexpected expenses and a few invoices at work that are yet to be paid which has meant my income took a hit too.

Savings Rate: 23.68%

Assets:
Cash: $14,043 increased 5.90%
Superannuation: $40,747 up 4.38% (market return + $305 investment)
Investments: $11,811 up 6.01% (market return + $0 deposit)
Other Assets: $10,121 down 1.20%

Total Assets: $76,722 up 4.13%

Liabilities:
Credit Cards : ($2,367) up 15.98%
Student Loans: ($32,305) up 0.23% due CPI
Business Loan: ($12,550) reduced 2.33%
Other Liabilities: ($21,500) steady

Total Liabilities: ($68,721) increased 0.15%

Net Worth: $8,001 increased 58.09%

It’s great to see that figure staying in positive territory! I think $10k net worth by Dec 31st is possible… maybe!

As always, thanks for following along! For those of you who got this far and are bloggers too, I’m wondering what software/tool you use to create the images for your blogs with the text overlays?! I’m using Pablo but some of yours are super nice and I’d be keen to try out any of your recommendations. I’d love it if you would leave your favourite tool for creating images on your blog in the comments! (Thanks!)

Notes.

  1. 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.).
  2. Superannuation is the Government mandated retirement savings system in Australia
  3. Other Assets consists of one car at market value, depreciating monthly.
  4. 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 $55,874 p.a. or more in 2017/18.
  5. Other Liabilities consist of two loans which are interest free.

10 thoughts on “Net Worth Update (October 2017)

  1. It does feel like 2017 only started a month ago, but it’s going to end in less than 2 months!

    Look at that graph! Great job! I feel like your win is mine as well, I feel so happy! 🙂

    Will you be getting a brand new washing machine or are you considering pre-loved?

    I use Canva with my images. I like it. It’s easy to use and it’s free!

    1. Thanks very much J! Your blog image designs are always freakin awesome! I’ll have to look into Canva a little more.

      I’m leaning toward a new washer, but one for < $600. The warranty is what appeals to me. Bought a fisher paykel years ago it was inexpensive and excellent!Hope the next two months treat you very well 🙂

    1. Thanks DP, I’m glad you enjoyed the post. It would be great to make 10k, I just need to keep any spending under control and squirrel away a little savings.

  2. WFT,

    It is CRAZY how fast 2017 is flying by. Insanity and I cannot believe we are staring 2018 in the face. I do love this upadte as well by the way. Look what a strong savings rate was able to do this month and you made some pretty strong moves. That’s how you set the table for future successes.

    Take care,

    Bert

    1. Agh crazy indeed! But a new year = more new opportunities! Savings rate is quite good I agree though a little under my average. Hopefully with Christmas coming up and family flying in for a few weeks I can still put a little away 🙂

      Have a great November Bert!

  3. Well done! 10k by year end is totally achievable -good luck!
    I’ve made some cool things with Canva, but find it take a while to get it right and requires a bit of artistic ability of which I have very little. I now use Snappa. There is a free version or you can update to paid. I like it because it has inbuilt background images so once I set up a template I just pop in a different background image and viola! Perfect for a lazy and unartistic person.

    1. Thanks Miss Balance – I’m looking forward to giving the 10k a good crack.

      I’ll check out Snappa for sure. Like you say Canva seems pretty versatile but I’m not super artistic either so maybe Snappa is a bit more WF30 friendly haha. Thanks for the suggestion!

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