Net Worth Update

Net Worth Update (December 2017)

Previous update here.

Quick Summary: Well, it’s here. The final Net Worth Update of 2017. I started 2017 with negative $11,565 net worth. This was just a few months after setting up my business. I’m delighted to say my net worth reached an all time high at December 31st, to positive $13,432(!). In 12 months, it’s increased almost $25,000! I actually have to pinch myself! Compared to last month, net worth was up 35.17%.

My total assets made it past $80k which is a pretty unreal feeling. Sure, a lot of this is tied up in my retirement account, but it’s still a very decent sum. Cash was up thanks to some solid savings and the sharemarket assisted too, with a 2.3% return for the month. On the other side of the ledger, debts reduced in almost every facet – steadily reducing the amount I owe the universe.

I’m really looking forward to saving more in 2018. Once I’ve had a look at my finances for the year, I’ll have a more clear idea of my goals for 2018. At this point, I’m thinking:

  • modest increase in emergency fund
  • modest deposit to investment account and even more modest to superannuation
  • save like a madman for a deposit on a business premises (30% LVR, it’s not chump change)

Post script: You can check out my 2018 goals here!

Savings Rate: 43.70%

Above: 2017 Savings Rate by Month (%)

Cash: $12,318 increased 23.84%
Superannuation: $42,302 up 0.26%
Investments: $16,268 up 2.31% (market return)
Other Assets: $9,880 down 1.20%

Total Assets: $80,768 up 3.50%

Credit Cards : ($1,582) down 22.75%
Student Loans: ($32,305) steady
Business Loan: ($11,950) reduced 2.45%
Other Liabilities: ($21,500) steady

Total Liabilities: ($67,336) decreased 1.12%

Net Worth: $13,432 increased 35.17% 


That’s a wrap on 2017! What did you do to make some progress toward your financial goals last year?

As always, thanks for following along! 


  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.

4 thoughts on “Net Worth Update (December 2017)

  1. Good job a positive net worth always makes you feel good. Once you get those debts paid off it will be the best feeling ever. I’ve basically been debt free since last May and it is a wonderful feeling. Keep building that netWorth

    1. It must be an awesome feeling being debt free – well done. It’ll be great to get there myself. Hopefully soon!

  2. Well done WF30, a $25k increase is a wonderful achievement in only 12 months – $2.5 per month 🙂

    I love the big decrease of credit card and increase of the cash – puts yourself in that much better position at any given moment. Having a bigger emergency fund sounds like a good idea, that’s what we’re aiming for as well.

    Your net worth graph makes for great viewing since April. Hopefully the next few months are positive too 🙂

    Mr DDU

    1. It’s a great result for sure. Far better than I realised or expected coming into December. Lots of scope to keep on a good path, which I’m excited about.

      Thanks for stopping by!

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