Calculating your net worth is a fairly easy task. You basically add all your assets and subtract your liabilities. I have personally decided to not include my Super or my car in my net worth. The car is an easy decision, for me the car is a tool to earn my salary. It’s a depreciating asset and I plan on having a car always. Excluding super from my net worth was a bit more trickier and took a bit more time to decide; in the end I decided to not include it as my plan is to be financially independent in the next 15-20 years. I’ll be 50 by then but won’t have access to my super till I turn 70 or who knows when depending on the government of the day. Tracking my net worth is helping me focus and remain motivated to achieve financial independence.
Lets get to the numbers, last month my expenses were a bit high thanks to my car insurance being due but I still managed to save ~54% of my income. This was mainly due to the 22% pay rise I received last month.
|Total Income (Post Taxes)||Total Expenses Jan-2017||% Saved|
The table below gives a break down of my net worth.
|Family Loan (Still pending – $4,000)||$2,000.00|
|Savings/Investments||Fix Deposits||$22,401.79||↑ 3.16%|
|Savings Account||$38,981.57||↑ 26.14%|
|Net Worth||$102,380.73 🙂|
|Change Rate||Month to Month||↑ 8.89%|
|Year to Date||↑ 49.92%|
My Net Worth
Lets get into the details, my investment portfolio remained the same as December, I wasn’t sure what imapact Trump would have on the market. The value of my investments dropped mainly because the value of a couple of my stocks decline more than 15% (MYX – MAYNE PHARMA LTD FPO and M7T – MACH7 TECH LIMITED FPO). the value of my ETFs also declined a bit so overall I’ve had no retuen since I started investing. I continued to invest using Acorns; in fact I started investing $75.00 per month as I was not investing anything else. So far it’s return 5% since I started back in April 2016.
As a result of not investing I’ve got close to 39,000 in my savings account. I recently posted by Investment Plan for 2017 and I’ll start draining the savings account this month. 2 out 3 of my fix deposits also paid interest for the year which resulted in their value going up; the last fix deposit is worth $5000 and should pay up in May.
My net worth has gone up by 8.89% and I reached $100,000. Sky’s the limit now!
How was January for you?
Thanks for stopping by and reading!
Best of Luck! 🙂