July 2017 Net Position Update

What a month! I’m slightly ashamed of the fact that I’ve been excited about writing this update for around two weeks,  but who cares. July was the perfect storm for me. Had the entire month off uni, heaps of people were on holidays at work and it was tax time. These three factors allowed me to have probably the best month financially of my life, and to be honest I’m proud of myself for not making even one impulse purchase. I also achieved three goals I set out to complete by the end of the year 5 months early! Now, let’s get to it.

Here’s the makeup of my current net position.

july net position.PNG

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.

july goals

Also, here is the progress I made towards some new medium term goals I set.

july new goals final.png

Assets

Savings

Great month for my savings! Nothing came up that I had to randomly spend on allowing me to push $200 past my savings goal for the year for a total of $2246.67

Investments

Made two purchases this month in AFI and RHC which you can read about if you haven’t already. These two purchases put me over the top of my investing goal for the year with a total of $2203.28. This also put me 22% towards my goal of having a $10,000 portfolio by Jan 11, 2019.

Superannuation (Retirement Fund)

It was a pretty average month for my super. I made $80 in personal contributions and received the usual contributions from my employer. Still waiting for my final account to consolidate into my new one…. (Sigh).

Vehicle

Depreciation expense which will occur each month.

Debts

Personal

I was able to repay $1050 of personal debt to my mother this month. This contributed a big chunk of progress to my goal of paying off $3000 of debt this year, which now has me at 66%. I’m now also 6% towards owing less than 20K to my mother, which is a great first start

Student

No change this month.

Other Goals

Dividends

Received 17c in dividends this month from acorns. Jackpot! Hopefully in the coming months my recent buys will push me closer to achieving my goal of $100 of dividends this year.

Savings percentage

This month I totalled 2780.05 saved or invested for a savings percentage of 55%. I’m happy that I was able to fight the creep of lifestyle inflation and put this month’s earnings to good use.

Net Position

July is most likely my best month financially until I finish uni at the end of next year. I had an increase of 16.80% for a total of $3863.20. This puts me well over my goal of a $6000  for the year and gives me a great first step towards a positive net position by 2019.

As I was writing this, I noticed at the end of last month I was worried about how July would go. Boy, was I wrong!

August is normally a pretty big month for me so I’m excited to see how it goes. I’m back at Uni, have some travel for work and it’s my birthday right at the start. While I doubt it will beat July financially, I’m hoping I can still have a great month.

Thanks again for reading and let me know how your July when in the comments or on my twitter or facebook.

Check out last months’ update here

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9 thoughts on “July 2017 Net Position Update”

  1. Great update and happy birthday!
    I’m going to try again with my massive comment I tried to leave a few weeks ago – Have you got a long-term plan for Superannuation? If your goal is to FIRE (retiring early) then Super might not be a great place to focus. Mr DDU and I don’t even think about our Super accounts as part of our networth or anything because it can’t contribute towards a FIRE lifestyle. We just have the required contributions from employers, have a industry fund with low fees, set the investing style and let it do it’s own thing.
    One of the biggest reasons we don’t pay attention to Super is because for youngens like us (and you) the rules around Super could change so much by the time we get there. The age to access Super will probably increase at least once in the next few decades and the government would be licking their lips at the small tax increases that they could get away with on Super accounts – the amount of money sitting around in Super is too much to ignore for a greedy government.

    At the end of the day Super is just going to be a bonus for us when we hit it, just another potential safety net in the FIRE plan (especially because of how easily you could run out of money if you’re retired for half your life).

    Sorry to ask if you’ve already posted about this, I don’t remember reading about it, but I know how annoying it is getting repeat questions that we have already covered on the blog. I’d be really interested to hear about your long term goals, especially around Super/potential FIRE 🙂

    Mrs DDU

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    1. Thanks for the birthday wishes and great comment Mrs DDU!
      To be honest I don’t have a long term plan for my super but at the moment I’m under the threshold for the government co contributions. So $40 a fortnight gets me $1000 in for the financial year, and I should get a 50% matching contribution for that. Once I’m working and not eligible for that (hopefully) I’ll probably just leave it like you do.
      Do you think I’d be better off using that $40 elsewhere?

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      1. I did see that you were making use of the government matching – free money is free money! I think if I were in your position I would toss up whether I wanted $1k more per year in shares, or if I wanted my $1k in the super account, for most people building super is a great first choice especially if you’re getting the matched contributions.

        Be something worthwhile to think about how you feel about the stability of the Super system and if that’s the best place for your money, even if it is just $1k a year. Some people love Super though, so it’s just a matter of different things work for different people 🙂

        Mrs DDU

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        1. You make some really good points. When I made the choice it was based off the fact that I would have a much lower chance of getting a 50% return from stocks compared to the co-contribution. I guess overtime I might lose much more of that then I would to stocks so I will have to think about this. Thanks again

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  2. BIG stock investing month for you and great overall. You’re gonna come out of uni in a far superior position than most in life. You thinking of maybe going down the ‘starve and stack’ route for your early 20’s?

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    1. Thanks for the comment Mr DD. I had to look up what starve and stack meant haha. I would love to, but my girlfriend is a few years older than me and quite keen to get out of my mums house and in our own home. So I think we will ‘starve and stack’ towards a home deposit.

      Liked by 1 person

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