Time to look back on 2023! How did I do overall, despite the high expenses of the year?
As you can see, there were several months I was definitely cash poor! Yes, our parents pitched in for wedding costs but even with their assistance we still used up a significant chunk of our savings too. Thank god the tax bill only has to be paid once a quarter because there is no way I would have been on time if it was taken out every month! Hoping that will smooth out a bit and I can build up a buffer again in 2024.
Net worth total at the end of December 2023: $765,496
Change since June 2023: gain of $21,742 or percentage-wise 2.9%
Total assets minus estimated tax owing: $735,537
Progress towards inflation adjusted target of $2.85 million (in 2023 dollars): 25.8%
Surprisingly enough my net worth did climb a fair amount this year. This was purely from the investment growth, as I did not contribute a cent to investments or to superannuation this year! The share market/superannuation did the heavy lifting for this year, as my property values have stagnated, and my savings depleted. Edit to add: after adjusting for inflation, this year my net worth most certainly has *not* kept up with inflation.
I certainly didn’t meet my goals for this year though.
Net worth goal of $800K? Gosh I was dreaming. I suppose that we’re going to reattempt the same goal in 2024!
Superannuation? Nope. Got two years of rollover contributions available to me now.
Zero dollars into the share market this year, and a negative savings rate.
As for takeout? A whopping $7k… when I was aiming to keep it under 2 grand! This is really my area of weakness and I need to drill down on this going forwards.
However I did succeed in losing 5kg this past year, and have started doing my own quarterly BAS reports instead of relying on the accountant. I will still be going to the accountant for the final tax return however, particularly as I’m looking at buying a new car soon and would like their help maximising the deductions.
I also stuck to my rule of reading from the books I already own, rather than buying more! But only read 10 books this year, out of my 25-book target.
I didn’t go on a holiday in 2023 but I will be starting off 2024 with my honeymoon, so that’s the holiday goal taken care of!
Chasing FIRE Down Under 