Net Worth Update (September 2015)

Previous update here.

Overall, Net Worth is down 37.59% for the month.

Monthly contribution to my personal portfolio occurred. Cash reduced. Debts decreased.  One thing I want to do is reduce outgoings; to this end I’m looking over my accounts in more detail next month and also finding somewhere less expensive to rent by year end.

Assets:
Cash: $9,383  (-18.78%)
Superannuation: $29,472  (-0.80%)
Investments: $4,448 (+3.29%) with $200 deposit made
Other Assets: $13,600  (-1.45%)

Total Assets: $56,904  (-4.15%)

Liabilities:
Credit Cards : ($891) reduced 53.88%
Student Loans: ($30,790) steady
Other Liabilities: ($22,011) up 2.38%

Total Liabilities: ($53,692) down 0.98%

Net Worth: $3,212 (-37.59%)

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.
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