Net Worth (up 1.87%) and Budget Update – January, 2017

Last month’s update can be found here.

Well, it’s been a busy few weeks for us so this update is a bit late. We did update our budget at the right time but the actual post slipped through to the keeper. It’s a rainy Saturday here on the Central Coast so it’s a perfect time to do some blogging.

Every month we check our monthly budget and net worth. At the end of every month, we sit down for an hour or so and go through all of our income and expenses for the previous month.

Here is a summary of our January budget:


Income: $7,564.46 (down -52.37% from the previous month)

Well after two months of record earnings, we were due to come back down to a more normal figure. Although, this month’s earnings were below what we budgeted due to a couple of reasons. Firstly, Toon’s employer “mixed” up a regular payment and it was delayed till a few weeks later and we didn’t earn any money from our side businesses. We did, however, earn $99 from Air BnB (referral link to get $50 off your next Air BnB booking), and $100 from an ANZ promotion. We love signing up to these types of promotions and taking the free money that banks are offering. At a guess, I reckon we earned at least $500 last year from doing this.



Expenses: $4,338.59 down -15.67% from the previous month)

While our income was down from the previous month, at least our expenses were down as well. During a normally expensive month, we managed to keep our expenses in check. We did significantly go over our dining out and grocery expenses ($709.78 and $905.25 respectively) this month which is a worry but was the case through most of 2016. I think our budget of $400/month for dining out and $800/month for groceries is just too low. We try to eat healthy and that means more expensive. We also don’t dine out more than once per week but do like to splurge a bit when we do go out.


Monthly Savings Rate: 42.65% – although below our goal of 50%, it’s still been a good month

Yearly Savings Rate: 42.65%



Net Worth

We track our net worth to see how all of our assets and liabilities are moving along. We do this for two reasons; firstly, it gives us a good way of keeping on top of our various investments and secondly, it allows us to see whether we are progressing towards our goal of being financially free.

For now, we are including the equity in our home and superannuation as part of our net worth calculations.

Here are our results for the month of January:


Assets: $709,864.07 (up 0.68% from the previous month)

As you can see from the graph below, we’re invested a bit too much in property, although the properties are a mix of one PPOR and 2 IPs in two geographical locations, we would like to spread this out a bit more evenly across the others asset classes that we are interested in. The P2P lending and Shares categories should see a significant rise this year.


Liabilities: $333,797.68 (down -0.62% from the previous month)

If you check our December update, you’ll notice that the liabilities figure was actually lower than this month’s figure. This was because we hadn’t accounted for two personal loans that we have so including those in this month’s post means that we have actually reduced our liabilities from the previous month. I didn’t include these in our previous reporting because these two loans are relatively small and have no interest rate on them. Going forward, we now have all our liabilities accounted for.


Net Worth: $376,066.39 (up 1.87% from the previous month)


Not a huge rise in net worth but it’s better than nothing!



How did your finances look like last month? We’d love to know so feel free to make a comment below.


4 responses to “Net Worth (up 1.87%) and Budget Update – January, 2017”

  1. Jef says:

    Nice work team, looks like your 2017 has started off well and keep heading onwards and upwards with your updates!

  2. Nice increase in net worth and I agree – it would be good to spread out your investments – but it’s looking good 🙂


  3. Mrs. ETT says:

    We were budgeting $1,600/month for all food (groceries, takeaway and dining out) and alcohol in 2016. That was for the 2 of us with no kids. When I saw what others were spending, I totally freaked out. We’ve reduced the food budget to $1,100 a month, and have managed to stick with it so far. Shopping at Aldi for groceries has helped far more than I would have expected. Still, you are better off to embrace your true expenses and raise your budget if that is what suits your family. It all comes down to what you value – if it’s great food, then why not enjoy?

    • Hi Mrs. ETT, thank you for stopping by.

      That’s a huge reduction in your food expenses! We have tossed up the idea of using ALDI for our grocery shopping more often but it’s a little less convenient for us to get to and doesn’t have everything that we need. We have definitely put a lot more emphasis on healthy eating recently and it’s paying dividends on our waistlines…and wallets. It’s unfortunate that eating healthy is more expensive and less convenient than eating bad food. Such is life, I guess!

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