Previous update here.
Quick Summary: Oh. my. god. January went by fast! Yours truly had a birthday (my 32nd, unless my parents have sneakily kept some from me). And what better way to join the festivities of international markets climbing at a phenomenal pace. This meant my super portfolio got a shot in the arm and my personal investments didn’t fare too badly either! Assets primarily on the up, which was great to see. I moved my savings from ING to AMP Bett3r, which offers a 3% p.a. interest rate without the need for transactions. This is a slightly higher interest rate than ING but not needing to transact to qualify for the full interest rate was the major drawcard as my primary bank isn’t ING and I rarely transact with the debit card.
Liabilities were in the main steady, and the business loan was down. My credit card, which I pay in full mid-month took a huge hit following my Insurance and Licence came due in January.
I took a big chunk out of my PhD this month too. Still about 60% to write up, but man am I getting closer. Can’t wait to be done with it (they get in the way of…well…everything). It’s not one of my goals for 2018 because it’s so close(ish) to done, but it’ll feel great to complete.
The Numbers for Jan 2018… (presented with thanks to OSX Numbers haha. Given I find that funny, you can tell I’ve been messing about far too much with spreadsheets lately).
Savings Rate: 34.20%
I was super pleased with the savings rate for January, nearly 35%!!!! And way up on the 5.5% from January 2017! By the way, as I write this, I find myself hypomaniacally munching handfulls of Cobs Lightly Salted, Slightly Sweet Popcorn…a product I whole heartedly endorse and bought half price this week while shopping.
Cash: $15,996 increased 19.09%
Superannuation: $42,817 up 1.22%
Investments: $17,258 up 6.09% (market return + $1000 deposit)
Other Assets: $9,761 down 1.20%
Total Assets: $84,697 up 4.86%
Credit Cards : ($3,246) up 105.27%
Student Loans: ($32,305) steady
Business Loan: ($11,650) reduced 2.51%
Other Liabilities: ($21,500) steady
Total Liabilities: ($68,701) increased 2.03%
Net Worth: $15,996 increased 37.76%
That’s a wrap on January! What was your savings progress like this month?
As always, thanks for following along!
- 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 $55,874 p.a. or more in 2017/18.
- Other Liabilities consist of two loans which are interest free.