Previous update here.
I had a relatively quiet start to the year and in February especially. This lead to lower income in March. I suppose it’s part and parcel of being your own boss and not having a regular salary!
It really struck me this month how important finishing my PhD is becoming. I’m still at least a few months out – and I know, every time I say that it seems more months have passed – but getting fully qualified essentially gives me a 25% increase in earnings potential. So find the motivation for it, I must. After 5 years working on it I’m scraping the bottom of the barrel.
On the financial side of things, cash increased just a little. Assets rose marginally. Local and international markets continued their decline and my Superannuation followed suit. To take advantage of this second consecutive down month I made a small deposit to my retirement account. The WF30 portfolio – where I keep my personal investments – gained a few percent, including some dividend income. This was pleasing given the down month on the ASX300. While the overall portfolio was up, the gain was almost entirely attributable to a recent buy that doubled in price within weeks of the fortuitously timed purchase. The rest of the portfolio was down or even. Come April 20th, I’ll have been running the portfolio for a full year.
Credit debt increased but as always, is paid out end of month. The business loan decreased and all other debts were steady.
Other tidbits – I found a few dollars ($3.15 to be precise) in a park, at a football match and left in a ticket machine. So far this year I’ve found $53.15. Hooray for free money!
I also had my car serviced and supplied my own motor oil, saving myself around $50 net – just one of my money savings habits regarding car ownership. You can often pick up oil on sale at your local Repco, Super Cheap Auto, Autobarn etc. or like I do, at your local drag racing store. I imagine dragsters use a lot of oil because even top shelf oils at this store are inexpensive!
Due to the lower income for the month (down ~20%) my savings rate took a hit. I still managed to throw some coins into the fortress fund and made that small deposit into Super.
Savings Rate: 18.3%
Cash: $14,466 increased 4.0%
Superannuation: $42,491 down 0.31%
Investments: $20,337 up 3.05% (market gain)
Other Assets: $9,528 down 1.20%
Total Assets: $86,822 up 1.06%
Credit Cards : ($1,851) up 47.24%
Student Loans: ($32,305) steady
Business Loan: ($11,050) reduced 2.64%
Other Liabilities: ($21,500) steady
Total Liabilities: ($66,706) increased 0.44%
Net Worth: $20,116 increased 3.16% – Stoked about my net worth crossing the $20k mark for the first time! :):):)
Rock your finances in March?
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.