Well, here we are, our very first net worth update. Where to begin?
Probably with some numbers.
Assets
Our first – and biggest – asset is our apartment.
Apartment
I know some people don’t consider property to be an asset, but if I’m going to count our mortgage as a liability (which I am), then I think it’s only fair to balance things out by counting the property’s value as an asset.
Apartment: $515,000
Superfunds
Well, I say superfunds plural, but most of the money isn’t in my superfund.
It’s in hers.
My super: $4,221
Her super: $26,842
The reason for the major difference? I took, literally, 8 years to finish university, and she’s been working full-time for a couple of years longer than I have.
Crypto
This one may divide readers, but too bad.
I like risk. I like technology. I like gambling.
I like crypto.
I’ve slowly been accumulating for the last 3 and a bit years, and I’ve finally got what I consider to be a decent stack.
Crypto: $16,950
Cash
Last but not least is cash.
I’ve been wanting to start investing in ETFs for a while, but we had decided to keep all of our money in cash to prepare for the impending home loan.
Now that we have the mortgage, I’ll be looking to divert a significant portion of this cash into the stock market.
Cash: $35,666
Liabilities
The biggest liability we have is our mortgage.
And, since we literally just got it, it’s a nice round number!
Mortgage: $412,000
Student Loans (HECS-HELP)
I already mentioned that I was a full-time university student for nearly a third of my life, and that brought along a massive HECS-HELP debt.
My HECS: $74,106
Her HECS: $6,169
Her Parents
Her parents loaned us some money to get a deposit for our apartment.
They say that we don’t have to pay them back, but I disagree. We’ll pay them back in time.
That balance: $50,000
Putting it all together
Alright, time for the finale.
Let’s add it all up in a nice table and get to the juicy Net Worth number that you came here for.
| Assets | Value |
|---|---|
| Property | $515,000 |
| Super | $31,063 |
| Cash | $35,666 |
| Crypto | $16,950 |
| Total Assets | $598,679 |
| Liabilities | Value |
| Mortgage | $412,000 |
| Student Loans | $80,275 |
| Her Parents | $50,000 |
| Total Liabilities | $542,275 |
| Net Worth | $56,404 |
Drumroll please…
…
….
Our net worth is 56,404!
Hey, not bad for our first month! Hopefully it only goes up from here.
See you in next month’s update.