Net Worth Report for May 2008

Age: 24

Assets

Cash: $313
Managed Fund: $23,993
Super Fund: $3,216
Car: $5,825
Kiva: $105

Liabilities

Credit Card: $300

Net Worth: $33,152

Comments

I put in $200 in my mutual fund a few days ago and it is not showing up in my managed fund. This is normal. Sometimes when I send the money to the fund manager it goes in the day after and other times it sometimes takes a week. This is why market timing using a traditional mutual fund is futile. If you want to time the market, consider using ETFs.

The larger-than-normal credit card debt comes from a dental checkup during which I had my teeth cleaned and x-rayed. The x-ray was painful because they made me bite on a piece of plastic. I have no idea why they did this. I also used credit card to pay for petrol. Petrol is about $1.60 per liter now, which is an all-time high. I hate it when people say that high petrol prices don't bother them because they can "afford it." I can afford it too but I just don't like to pay more. One of my friends said, "I wish petrol was higher. There are too many cars on the road. If you can't afford to drive, walk. By the way, I drive a V8." Instead of deterring people from driving large cars, high petrol prices seem to be attracting some types of people to large cars because of the exclusivity of driving a gas guzzler during times of high petrol prices.

A few weeks ago the All Ords was reaching for 6000 but then all of a sudden it went back down again. It is now at 5700 or so. When the All Ords was at 6000 I had about $24,000 in my managed fund. Now I have only $23,000. I notice that the downturn seems to have hit the Australian market more severely than it did the non-Australian (e.g. American) markets.