Hey everyone! Welcome to the first net position update for my blog. I couldn’t be happier with how this first month has gone. While it was in no way perfect, it’s a great first step for me on my journey. This month involved some huge milestones for me including buying my first shares, receiving my first dividends and starting this blog. Hopefully every month goes as well as this one.
Without further ado, here is my net position for the end of April 2017.
I’m now going to breakdown each section and compare how I did to my goals. If you haven’ already, you can check out my goals for 2017 here
I managed to increase my savings by $151.53 this month to a total of $718.5. Whilst I didn’t reach my targeted amount of $174/month saved, I am now 36% of the way to achieving my goal of saving $2000 this year.
Huge month for Investments! Bought my first ever stocks – WAM Research Ltd. I also sold a couple of old dead phones and a tablet for cash which went straight into my Acorns account. For the month of April, I increased my amount invested by $446.40 to achieve a total $756.13. Not only did I more than double the amount I aimed to invest this month but I am now 38% of the way towards my investing goal for the year.
Superannuation (Retirement Fund)
It’s been an interesting month for my super. Having never set up a superannuation account before I have found the whole process weird. You cannot access or activate your account until your employer makes a payment. I’m excited to hopefully be able to combine my super accounts next month. So this is a small step towards achieving my super related goal. Also, as of writing, the contributions made by my employer haven’t hit my super account yet, which explains the slight decrease.
Depreciation expense which will occur each month.
Managed to pay $342.50 off my person debt this month. I didn’t achieve my goal of paying off $375 this month but I am now 11% towards my debt reduction goal for the year.
In my previous portfolio post I stated that I had already received $14.40 in dividends from the WAM stocks I purchased. Unfortunately, I was wrong and purchased one day too late to receive those dividends. I did however receive $1.70 in dividends from acorns which were automatically reinvested. This marks my first dividends ever (yay) and puts me at 1.7% towards my dividend goal for the year.
I managed to have a good month of earning thanks to some work I picked up on the side from my mum. Of the money I earned, I managed to save or invest $597.93 total. This put me at 24% of earning saved or invested putting me well above the 15% I was aiming for.
Last but not least, I managed to increase my net position by $755.30. This equates to an increase in net position of 2.89% which I am really excited about! It also means I met my goal for monthly net position increase and am 12.5% of the way towards increasing my net position by $6000 this year.
Overall I think it was a great month. In hindsight, I should have put more money into savings and debt reduction rather than investments so I will have to focus more on balance next month. My fortnightly pay allows me 3 pay dates next month which should produce another great month financially.
Thanks for reading my April update. If you have any questions, tips, or want to let me know how your April went please leave a comment. I’d love to hear what you guys think.