Net Worth Update (August 2015)

Overall, Net Worth is up 9.46% for the month.

New investments were made in Super and my personal portfolio. Debts increased. Credit has an interest free period in which debts will be reduced. Cash reduced reflecting the above debts and investments.

Assets:
Cash: $11,553  (-6.91%)

Superannuation: $29,709  (+2.37%) voluntary contribution of $1000 made
Investments: $4,307 (+100.69%) with $2270.40 deposits made
Other Assets: $13,800  (-1.43%)

Total Assets: $59,369  (+3.11%)

Liabilities:
Credit Cards : ($1932) up 229.35% unexpected expense, nil interest for 55 days

Student Loans: ($30,790) steady
Other Liabilities: ($21,500) steady

Total Liabilities: ($54,222) up 2.54%

Net Worth: $5147 (+9.46%)

Notes.

  1. Cash consists of a single transaction account and specific 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 refers to the Government mandated retirement savings system in Australia and
  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 from taxable incomes of $54,126p.a. or more in 2015.
  5. Other Liabilities consist of two loans which are interest free and don’t require repayment until I finish my Masters degree.