Net worth decreased 0.1% ($165) to $334,130. First month in the red for a while. It’s been 26 months of tracking my numbers, and this is the third month I’ve hit the red. Given I add $5k to shares religiously each and every month without fail, this would generally mean the markets were down greater than $5k for the month (or I just spent a shitload!… but I don’t think so).
My net worth is divided into three main sections; stocks, cash and superannuation, along with my expenses and savings rate.
My total net worth breakdown is as follows:
A breakdown of my “taxable” (cash and shares) and “non-taxable” (superannuation) components.
TOTAL NET WORTH = $334,130
- Taxable (Stocks + Cash) = $231,938
- Superannuation = $102,192
Monthly Net Income
- Salary ($7,266)
- Superannuation ($1,054)
Income down a little this month. This financial year I’ve started having to pay my tax quarterly, based on last year’s tax, so I think I paid $544 in tax this month.
Stocks = $214,197 (+$170)
Purchases: Vanguard Australian Shares (VAS): $5,003
Considering I added $5k to the market, my ETFs had a pretty bad month.
Cash = $17,741 (-$605)
Slight decrease on the cash front this month, but no cause for concern.
Superannuation = $102,192 (+$270)
Expenses = $3,892
Quite high expenses this month. I actually did very well spending wise, but got hit with my yearly health insurance bill of over $1,200. Most non-Aussies wouldn’t understand out situation here, but if you are a high income earner and don’t have health insurance, you get slugged an addition % of your income in tax. So if I didn’t pay for the insurance I’d be paying at least that amount in tax anyway, so may as well get it! Also, I pay the bit extra for “extras cover”. Although I generally don’t use most of the options, I do claim on dental. Lucky for me I just needed lots of treatment done and managed to claim my full $750 in extras over the past few months. Winning.
Savings Rate = 46.4%
My average for the year has slipped to below 60%, now sitting at 59.7%. Main reason for the bad month obviously being the combo of the tax taken out of my salary combined with the health insurance. It’s easy to become too obsessed in your monthly numbers, not wanting to “ruin” them. But shit, lighten up I say. This year I’m taking a 3 week holiday with friends to the US for their summer (and to escape our winter), and these things can’t be missed. It’s life. I’m not sitting here at home all year thinking “shit, if I go on that holiday my yearly savings rate will drop from 64.6% to 61.2%”. What’s the point of that?
Ok I’ve calmed down, rant over. Promise. Til next month.