Update for July and August

Hey Guys,

Long time no post. Things have been up and down for me not financially but with my health. It is finally getting back on track, but I will not be boring you all with the details.

The easiest way to double your money is to fold it over and put it in your pocket – Kin Hubbard

Let us get down to the good, fun positive points:

  • My partner and I cut up her credit card (good bye and good ridden)
  • My card is still active and has a debt of $1598 but this is going in two weeks
  • Car Number 1 is now gone, mostly because I was ill and was able to “surrender the vehicle, and my loan protection insurance took care of the rest. Thank god for insurance.
  • My partner and I have combined Finances, so we now tackle everything together. We have set a budget in place as well as a savings plan.

Liabilities prior to May (debts)

  • Car Number 1 – $27,160.27
  • Car Number 2 –  $14,636.28
  • Credit Card  – $4,848.90
  • Total – $46,645.45

Liabilities in May (debts)

  • Car Number 2 –  $12,785.15
  • Credit Card  – $1598
  • Total – $14,383.15

So we have had a big couple of months with our Net Liabilities dropping a whopping 69.1%

To add to our happiness our assets have grown. Across savings and shares.

  • Savings have grown and we now have a savings rate of 54% from our combined income
  • My Share Portfolio is currently showing a capital gain of 19.37%
  • BrickX is slowly rising again with an average return on investment of 13.11%
  • Acorns is traveling along nicely, no major improvement though

My super share portfolio is also tracking along really well, with a couple of nice dividend payments as well. More to come on this in another post.

So that sums up my tardiness in posting as of late.

Signing off for tonight
Pat

2 thoughts on “Update for July and August

  • August 6, 2017 at 9:24 pm
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    Hope your health continues to improve. That’s so much more important than money. Congratulations on combining your finances and setting goals together. Cutting up a credit card is a big step – once yours is gone you can tackle the final car and then… debt free!

    Reply
    • August 7, 2017 at 6:04 am
      Permalink

      Hello, Mrs. ETT,

      Thank you very much for the support. You are 100% right, health is more important. Money is not much use if you are dead.
      The credit is going to be cut up in 10 Days, and there will be a celebration.
      As for the car, we have worked out that it is not worth paying off any earlier. If we were to pay this off earlier we would get charged a fee of 12.50 per month early, and having already paid the interest on the loan it just is not worth it.

      We are both looking forward to the increase in savings by having both Credit Cards gone and only one car. Good times are ahead

      Signing off
      Pat

      Reply

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