Well, here we are, our very first net worth update. Where to begin?
Probably with some numbers.
Our first – and biggest – asset is our 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.
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.
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.
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.
The biggest liability we have is our mortgage.
And, since we literally just got it, it’s a nice round number!
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 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.
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.