Net Worth Report for July 2008

Cash: $91
Mutual Fund: $23,448
Super Fund: $3,491
Car: $5,825
Kiva: $431

Net Worth: $33,286

Comments:

Not only do I have a normal streamline account with the Commonwealth Bank but I also have a cash management account with Commsec. This will allow me to purchase stocks. I also have a Paypal account and an Ebay account, which I used to buy $11 speakers for my Mp3 player because I want to be able to listen to my mp3s in my car without using headphones.

I increased the number of loans I make to Kiva, which meant my Australian dollars were converted to US dollars. Luckily, at this moment one Australian dollar buys 93 US cents, down from 98 US cents about a fortnight ago, which meant the Australian dollar has depreciated against the US currency, which means the value of my microloans have increased in terms of Australian dollars. I always tell people that even if you don't get any interest, you can achieve currency diversification with Kiva if you live outside the US.

My mutual fund balance went up, but don't be fooled. The stock market has been doing down and the only reason why there was an increase in value was because I worked longer hours and because I received half-yearly distributions of $1067 re-invested into the fund on 1 July 2008. This year I have made a capital loss.

My super fund is increasing even though the market is going down, which I suspect may be because it is actively managed. It could also be because I am working slightly more. The last time I checked my HESTA fund they were charging me contributions tax as well as insurance premiums. I am definitely going to try see if I can get a better deal at another super fund. I start my new job next year so it'll be interesting to see what kind of super fund my new employer gives me.

My grandma and co-workers are all telling me to buy a house as if it's something I've got to do. I've given up trying to convince them otherwise because I think it makes me sound arrogant or rebellious.

I am yet to fill out my tax papers. I am still waiting for my tax statement from Vanguard. Given that I've made capital losses on investments as well as donations to charities, I hope to get something from the ATO this year.