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%
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%
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!)
- 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.