Wednesday, 29 February 2012

February 2012 Net Worth - $228,000 (+8%)

Assets: $584,000 (+3%)
Liabilities: $356,000 (+0%)
Net Worth: $228,000 (+7.6%)

Although it appears that the performance this month was quite good it was actually a rather poor month. Of the $14,000 incrase compared to last month, $12,000 of this was due to an updating of my superannuation figures which had not been updated since I started tracking my networth.

Other asset movements included:

  • Flat / slightly negative share market returns across the board. This was particularly impacted by the negative return over the month for the share that was rumoured to be under takeover consideration last month

  • The first month allocation of my employee share plan (which I have written about previously)

  • A relatively small increase in the amount of cash allocated to offsetting my home loan

Liabilities movements included

  • A significant increase in my credit card debt due to significant over expenditure this month. In my expenditure tracker for February 2012 that I will post in the coming days I will detail how my personal expenditure blew completely out of proportion for the month which is going to impact my expenditure goal significantly for the coming months

For the month of March I am currently forecasting my first negative returns since I started tracking my net worth. In down months my net worth has been driven by inclusion of amounts previously not included (mainly around superannuation) and also the relatively frequent allocation of cash to my loan offset account. In March I will have virtually no cash to allocate to my offset account as most of my wage will go towards paying down my credit card debt.

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