My Net Worth – End of 2016 Calendar Year
Hello everyone again, I am writing to you today to give a Net Worth Update of sorts, even though I haven’t actually given a net worth update to this website before, I have been tracking my net worth for the past 6 months.
As I have told before, I bought my first shares in October 2016 so my shares haven’t had a huge amount of time to appreciate in value. But what I do have are cash assets and other assets that have monetary value. I will keep this updated, hopefully via a live sheet, just like my portfolio here.
Right, so lets get right into it. Here you will see me list my assets and liabilities with a small bit of information on what each is and how that affected my net worth over the past 6 months.
July 2016 net worth: $3930.99
December 2016 net worth: $18,189.47
Change ($): ↑ $14,258.48
Change (%): ↑ 363%
Total Assets increased from $41,042.55 to $49,425.43 which is a total increase of 20.4%. Summary below.
Stocks: I have bought a few in the last few months so this has increased my net worth slightly with a small capital gains. Although this has been funded directly by earnings and savings. Therefore, I can not give a total increase in the past 6 months. At the end of the year I had $2598.78 share portfolio value.
Cash: Increased from $10,589 in the bank to $15,428.24 which is an increase of 45.7% over the past 6 months. This is due to hard savings made by myself trying to get ahead. This is also excluding the $2598.78 invested in shares. So the cash savings is a bit more than the 45.7% mark. Anyway, we will leave it like that.
Retirement: Here in Australia we have a regulated retirement account called a Supperannuation Account, otherwise just called Super. This is managed by an investment company that allocates it to different funds and typically give a half decent return after their fees. In Australia, your employer has to pay (currently) 9.5% on top of your wage into your Super Account.
I had recently changed Super funds to a lower fee account with a Big 4 Bank. My Super increased from $12,653.55 to $14,683.41 or in other words 16.0% increase. Another good winner for me.
Vehicle: This will make an appearance in both the asset and debts. I bought my car back a year ago and took a loan to pay it off. But I did so in the matter of 15 months. Repayments were high but my last payment was made in December 2016. Now that the payments are done. I am going to put the same money into my brokerage account. My vehicle was worth $16,500 in July 2016 and now worth $15,665 as an estimate. This is a depreciating asset of course. This represents a 5.0% loss.
Total Debts were decreased from $37,111.56 to $31,235.96 which is a decrease of debts (positive) of 15.8%. Summary below.
Personal: I owed a family member some money that was borrowed a while back. Now that I am working full time, I payed off the debt completely. This was a $3000 personal loan and was payed off in July and August.
Vehicle: As stated before, I had a car loan that I was paying off aggressively. I was paying off $380 a month for 15 months with a lump sum payment made in January of $5000. My last payment was in December 2016. Now no debts on the vehicle.
Student: Here in Australia we have a little different student loan repayment system. For those who are not familiar, basically the Government takes the loan and we (the student) repay this loan once we earn over a certain amount every year. This is taken out directly of our tax every pay cycle. This means that it isn’t exactly money that I see going, it gets taken before I see it. This loan has only CPI interest increase which is typically low so my student loan does not require aggressive paying off. It’s a good system.
Regardless, it is a loan that I have against my name so I am still including it in my net worth.
In July 2016 my student debt was $31,861.56 and in December 2016 it was $30,860.96 which represents a repayment of roughly 3.1%.
My net worth increased from $3930.99 in July 2016 to a total of $18,189.47 which is a massive increase of 363%. That is just madness. Of course this will slow down as my investments become more common place here. My debts have been paid off which increase my total networth and frees up some capital for me to spend. Overall this year, I am very happy with my debt payments, and overall net worth increase. I believe I should be able to add roughly 30k to my net worth by the end of 2017. I hope I can beat this goal with some smart investment opportunities arising soon. Fingers crossed. How did you do at the end of 2016?