January 2019 wealth report

G’day and welcome to our January 2019 monthly wealth report. Set out below is an analysis of our income and spending, as well as a picture of our net financial wealth. Think of it as our family balance sheet and profit & loss (for the accountants in the audience). You can also find my monthly Kiva lending report here. I believe strongly in helping those less fortunate than myself and do that by way or micro-lending, rather than straight donations.

Income and expenses

Source 
Total29,558
Salary11,744
Other7,268
Passive84
Capital Gains9,600
Pension contributions862

Income this month was a little up on December. Salary was normal but other income was slightly up. This mostly consists of Mrs Smiths maternity allowance from the government, health insurance refunds and this month includes an amount from Grandma Smith for the kids savings account.

CategoryAmount
Total Expenses16,024
Travel3,386
Mortgage3,234
Groceries2,298
Tax2,260
Clothing1,541
Health1,024
Motor634
Sport569
Gifts558
School Fees520

Expenses were about normal, except for Travel which was WAY up. This was payment for Mrs Smiths big birthday holiday in a few months time – a beautiful farm stay in northern NSW. The other big expense was TAX. I had to make a tax payment the taxation department finally decided, after 5 years, that I owed them. Talk about fast paced service. Health was mostly payments for Cost Center #1’s braces and a bulk purchase of contact lenses.

Net Worth

Our net wealth was up slightly for the month, driven mostly by an increase in house prices and equity markets rebounding from the fall in December. Given our biggest asset is our home, movements in local house prices have the biggest impact on our net wealth.

HIstorical net worth

My historical net worth is set out above. Note that there has been a slight data issue for 2014 – 2018, which I’m currently fixing. 🙂

The big fall in net worth was caused by divorce. Never a nice thing to go through, but ultimately I’m in a far better spot than I was before.

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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1 Response

  1. February 18, 2019

    […] you can see from our monthly reports, grocery spending is usually one of the top 5 spending categories we have each month. Its also the […]

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