February 2019 wealth report

Wow, what a month. Summer is finally over and hopefully we don’t get any more heat waves. While the 30+ degree weather is nice; weeks on end of hot weather is a bit much. Especially when the temperature doesn’t drop below mid-20s over night. This is the Smith Family wealth report for February 2019.

Bondi beach on a hot summers day

The big news of the month was that I got made redundant. Luckily for us, we were prepared, both emotionally and financially. The big issue at the moment is what to do next?!? From a career perspective, I’m not yet done with working for a large corporate. Maybe one day, but not yet. Also, financially we still need the money and besides, I still enjoy spreadsheets. Look at this blog for example!

Anyway, onto this months wealth report.


Investment income163
Capital Gains8,000

Our income for February mostly consisted of my salary (the last one) and Mrs Smith’s government maternity payment (again, the last one….). The capital gains comes from our superannuation, as markets continued to rebound from their December lows. I am going to set out more details of our investment portfolio in a post later this week.

Going forward there won’t be any salary and wages for a little while, at least until I get a new job. This is going to put a small dint in our networth. This month also included a very small (US$10) for some surveys I completed. This was more for shits and giggles than anything else, but its good to see they paid me. I might do some more going forward, now that I have plenty of time on my hands.


Top 10 expenses$
School Fees1,000

We spent some time focusing on our expenses this month and the results have paid off! Our biggest area of focus was our grocery bill, which seemed to have gotten out of control (who the hell spends $2,500 on groceries?). Luckily for me, Mrs Smith has been onto it and with a few small changes, we have managed to push the spend down by about $1,000. That’s huge. Now if only I could do the same with the mortgage…….

We do spend a fair amount on “sports”. Now this may seem a little unusual, but both Mrs Smith and myself love exercising. I also do triathlons, which is not a cheap sport. Our gym memberships, pool etc, cost a few hundred a month. I don’t by any stretch go to a ‘premium’ gym. I use the one attached to the local pool, so my pass gets me access to both facilities.

Month to month spending waterfall

The other big changes were a couple of ‘one off’ items, namely no prepayment for holidays and no tax payment. We also spend less on clothing, which is always easy to do. Health was down as we had no doctors visits. Offsetting the above was slightly higher expenses on school fees, as we made two payments. Sport was higher, as I signed up for a triathlon.


Our financial networth went up a little bit during February. This was mostly due to the rebound in our retirement savings accounts. My networth can also be tracked here, at Networthshare.com. This way you get to see the whole, messy history that has been my financial life.

Our reduced expenditure also contributed to our increased networth. I should note that as part of salary packages in Australia, everyone has a compulsory retirement saving portion of a minimum of 9.5% of your salary, up to a maximum of $25,000 per anum. The amounts are saved into superannuation funds that are concessionally taxed at 15%. This requirement was one of the greatest savings / policy inventions of the 20th century. It means Australia has one of the largest pools of savings of any country in the world.

Waterfall of net worth movement

So, what’s next?

Good question. March will be a no income month for us, at the very least. Therefore, its important we keep a tight rein on our expenses. I’ll be looking for another role very soon. It also means that I am going to have more time to work on my site (yeah!).

Jim Smith

James Smith is a personal finance expert with over 20 years experience. He believe that money should not be stressful. By using the Stress Free Money pyramid it helps everyone achieve their financial dreams.

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