Friday, 28 October 2011

October 2011 Net Worth - $188,000 (+6%)

Assets: $558,000
Liabilities: $370,000
Net Worth: $188,000

I'm doing this evaluation early as I will be away when the month ticks over and I do not want to leave it as late as I did last time (for consistency).

October's net worth figure was affected by a number of one off impacts including being paid out my entitlements from an old job which increased my pay significantly for the month. My long awaited tax return did not arrive as my tax accountant seems to have forgotten about my returns. Again, this will provide a decent increase in assets once it arrives.

Assets suffered a net decrease in October for several reasons. Firstly I used cash to pay down significant outstanding credit card loans which were due soon after the last measurement. Further there was a drop in the value of my managed investments (which I only measure quarterly) however this was offset by the increased pay amount as well as an increase in my share trading account.

Liabilities decreased significantly during the month with the significant reduction in the level of credit card debt.

Next month is likely to be impacted by two factors. 1. I am taking a week's leave without pay for holiday purposes (so I can save my annual leave for another time), 2. hopefully my tax return will FINALLY come through and 3. my investment property is likely to require some repairs and the cost of these is likely to fall due next month

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