May 2017 Net Position Update

Hey everyone! Welcome to my net position update for the month of May. May was one of the crazier months of my life, including my sister’s wedding and 6 assessment pieces. Due to the busyness of my life and the nature of my casual retail work, I didn’t get to work as much as I would have liked this month, limiting the income I was hoping to earn. Whilst at times it was hard to stay on top on my finances I still managed a great month.

Here’s the makeup of my current net position.

may net position

Here’s my current progress towards the goals I have set for 2017. If you haven’t already you can see what they are here.

goal progress may

Assets

Savings

Huge month for my savings mostly impacted by my daily savings mentioned in my students guide to savings. I was able to save $402.9 which is double what I aim for monthly and I’m now past half way to my savings goal

Investments

Another good month for my investments. Whilst my stocks in WAM are trending down I was able put a good chunk into my acorns. By making the amount I save daily an uneven amount, I gamed the system and accrue round-up deposits into acorns much quicker, which helped this number this month. I was able to invest more than my monthly minimum and am now almost halfway towards my investing goal for the year.

Superannuation (Retirement Fund)

A weird month again for my super. Still waiting for a payment into the new account I’ve opened from either of my employers so I can activate the online side of it. Also, as I have 2 other accounts which I am waiting to consolidate into it, the account fees are killing the growth of this number. Hopefully June is the month I go from 3 accounts to 1.

Vehicle

Depreciation expense which will occur each month.

Debts

Personal

Managed to pay $428 off my person debt this month. Beating my aim of $375 per month and putting m at just over 25% towards my goal for the year.

Student

No change.

Other Goals

Dividends

I received 1 cent in dividends this month from acorns. My goal of $100 in dividends this year may prove much tougher than I hoped.

Savings percentage

Managed to save or invest $581.16 this month equating to a savings percentage of 19%. This is again above my aim of 15% so I’m happy with the result.

Net Position

I’m really happy that I was able to increase my net position by $945.63 this month, equating to a 3.73% increase. I beat last months’ increase by almost $200 and am around 30% towards my goal for the year. Once I have my super account sorted this number should be even higher each month and allow me to cruise to a $6000 increase for the year.

Another good month in the books and I’m happy with my progress. I’m really enjoying the process of tracking my finances and trying to improve some bad habits I have.

Thanks again for reading guys. Please follow me on twitter or facebook and let me know how your May went.

Check out last months’ update here

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