Tuesday, 2 September 2008

Net Worth Report for August 2008

Cash: $136
Mutual Funds: $25,683
Superannuation Funds: $3,335
Car: $5,825
Kiva: $528

Net Worth: $35,507


My net worth has increased by over $2200 this month, but I think this is misleading. My car has just suffered from a massive oil leak that has ruined the engine. The mechanic gave me two options: sell it and buy another car or fix everything for $1100. After talking with many people, I decided to fix the car because selling it would see me lose a lot of money because the buyers will factor in the stuffed engine. Add transaction costs like stamp duty and insurance and I will definitely be worse off. In order to get enough cash to pay my mechanic (he only deals with cash) I had to get a loan from my brother.

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