Previous update here.
The teaching semester began at my University which means alongside my PhD scholarship, I receive some income from lecturing and tutoring. This is great, and for the next few months, I’m contracted to earn a fairly decent sum. I’ll also have to mark student assignments and started working a research job over the weekend (it’s actually just monitoring an iPhone, but it pays well). All these jobs (I work 3 at the moment plus my PhD) add incrementally to income, which will dramatically decline post-semester. My scholarship is due to end in August, but by that point I intend to be working 3-4 days a per week while I finish my thesis.
During March, cash increased. Investments were up, due to the market recovery and the regular monthly deposit. Credit was used for professional registration fees that were unexpectedly due (originally informed I wasn’t required to pay them whilst studying). Other liabilities increased slightly, but this should only be a short-term change. Overall, net worth was up 152% from a very low base. Touch wood, most months from now on should see slight increases if I can keep expenses reasonable.
Cash: $7,718 increased 28.10%
Superannuation: $31,255 rising 2.71%
Investments: $3,798 up 10.39% (net deposits $200).
Other Assets: $12,730 down 1.20%
Total Assets: $55,501 up 5.15%
Credit Cards : ($504) up 1 mln %
Student Loans: ($30,790) steady
Other Liabilities: ($22,967) up 6.82%
Total Liabilities: ($54,261) increased 3.77%
Net Worth: $1,240 increased 152.01%*
That’s it! FIN.
- 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 $54,126p.a. or more in 2015.
- Other Liabilities consist of two loans which are interest free and don’t require repayment until I finish my Masters degree.