Hey everyone! Welcome to my net position update for the month of June. I wasn’t able to post or focus on my finances as much this month because of exam study. Despite this, I still managed my best month to date due to some good payments into my super account.
Here’s the makeup of my current 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.
Had to take money out of my savings for a trip to Melbourne this month, but still managed an increase which I am very happy with. Didn’t hit the amount I aim for each month of $174, but I’m way past where I should be in tracking towards my goal of saving $2000 this year.
My investments took a hit this month but for good reason. I withdrew everything from my acorns account to move to my superannuation account to maximise the amount I will receive via government co contribution. You can read all about this in my post here. Also, my WAM stock has bounced back quite a bit this month. Despite the minor setback this month I’m hoping to be able to use a large part of my tax return to get this number back up.
Superannuation (Retirement Fund)
Finally managed to make some headway with my super this month! Moved some savings and my acorns account around to ensure I got the full $1000 after-tax contributions in. I also got a couple of reasonable contributions from employers because I’ve been working more than normal. The icing on the cake for this month is that I’ve finally managed to consolidate one of my accounts so I’m down from 3 to 2 accounts. It still confuses me why it’s such a difficult process to achieve this but at least it’s sorted.
Depreciation expense which will occur each month.
Managed to pay $400 off my personal debt this month. Trying to increase the amount I pay off each month and really start to get through this debt. $400 puts me just over the minimum I need to pay off each month to achieve my goal of $3000 debt reduction which I am now 39% of the way there.
Interest increase on my student HECS debt this month. Not too concerned about this one until I start earning enough income and repayments are mandatory.
No dividends received this month. Hoping in the coming months I can invest in some good dividend stocks to help me get to $100 worth of dividends for the year.
This month I totalled $780 invested or saved equalling a savings percentage of 27.95%. I aim for a minimum of 15% each month so this is a great number for me. Hoping that I can start to improve this percentage further and allow more money to invest in my future.
Yet again I beat my previous month with a 5.91% increase of $1445.30 for June. Whilst I know this streak will probably come to end at some point, I’m more than happy to keep having great months like this. I’ve now increased my net position by $3145.73 for the year putting me just over halfway towards my goal of $6000 for the year. I’m so happy with how things are going and hoping I’ll be able to achieve much higher than $6000 for the year.
Hoping to keep up the numbers like this month and average $1000 increases for the rest of the year. I’m a bit worried that June will be rough with work trying to cull hours for the start of the financial year, but hopefully that doesn’t affect me too much.
Check out last months’ update here