Net Worth Update – December 2021
As part of my FIRE blog I will be tracking my net worth on a monthly basis and compare it to where I want to be when I reach my FIRE number. I will also compare it to where it was sitting last month. A summary of my assets are as follows:
Explanation of each category:
Property
There were no changes in the property values this month, the slight increase is from loan repayments over the month.
Cash
Cash has also been relatively stable for the month
Shares
Another good month in the shares, I am sure there will be a bit of a downturn coming in the future but that is out of my control and for the moment I will take advantage of the rising market.
Superannuation
Similar to the shares section there has been some nice gains for this month
Other
No changes
December 2021 Budget Summary
Income – TOTAL: $10,190.53
- Normal Income: $6,330.00
- IP Income: $3,860.50
- Other Income: $0
Expenses – TOTAL: $4,487.46
- Normal Expenses: $2,937.31
- IP Expenses (not including Interest): $534.25
- IP Interest: $1,015.90
Savings Rate – +55.96%
Another pleasing month to finish off the year. I should also let you know that with regards to my tax bill back in October, I initially had this down as an expense, but I decided to move it across as income (negative income) as I feel this is more appropriate. One benefit is it does help boost my savings rate. Just another way you can play with numbers on the spreadsheet to say what you want them to say even if nothing really changes in reality.
I was able to finish the year with a savings rate of 42.12%, which I am delighted about.
I also like to track my income and compare it to my passive income, including my gains for the month.
December Normal Income – $6,330.00
December Net IP Income – $2,310.38
December Net Shares Gain – $13,286.14
December Passive Income – $15,596.52
Another booming month in the shares, once again my money is working harder than I am. Even after taking into account some additional normal income after a bit of a Christmas bonus.
Plan for January 2021
I do not have anything significant planned for January, the main thing I will be doing is just trying to set up some goals for the Year 2022.
Share Purchases – January 2022
Now I need to look at my current shares allocation to determine where I will be putting my next share purchase towards.
At the moment my allocation in Australian shares is furthest below the target allocation. This month I will be looking at investing approximately $7,000.00 into VAS or A200.