2016 Net Position + New Years Financial Resolutions

Yesterday I landed back in my hometown for the first time in a year to see family and friends for Christmas and New Years and realised how fast this year has flown by, and more importantly, how little my financial situation has progressed.

Coming back home has been a financial reality check from the parents on so many levels, having pointed out that:

  1. I’m working my youth away to pay the bills (my worst nightmare has become a reality. I am now a corporate slave on a peanut wage) ;
  2. I have no financial plans for the future, and on top of that, no financial plans in place with Mr. Piggybanks;
  3. I’m blowing all my money leftover after paying bills on crap i.e. take-away food, alcohol and other random shit;
  4. In Dad’s words, I moved my life to another city to just “exist” and not using it to get a head-start financially;
  5. I’m completely wasting my talent (sewing / fashion design / embroidery), not playing by my strengths at all and not using it to build a business (I started then neglected it over time and let it fizzle out) and;
  6. To top it all off, in Mum’s words, I’ve become fat.

Leave it to the parents to tell it how it is in the most frank way possible. The worst thing is, all of their points are completely correct.


Let’s start with my NET WORTH as of 27th December 2016:


Screen Shot 2016-12-27 at 11.18.51 pm.png

Major wins of 2016:

  • Left my finance job which I hated where I was basically treated like a secretary and had to work for a douche-bag Director.
  • Got a full-time permanent job in the retail industry with much better managers and colleagues. Stress levels significantly decreased!
  • Moved from an apartment with criminal neighbours into a better apartment building and perks of a pool (yay!) and rooftop for entertaining (even bigger yay!!).
  • Had lots of fun with new and existing friends!!

Major fails of 2016:

  • First time looking into my student loan repayments and I’ve realised thousands of dollars worth of repayments on my student loan has not been deducted from my principle. So for some unknown reason my student debt has INCREASED from $43,000 to $48,800 even though I’m paying chunks of student debt off every month and the student debt interest is at 1.50%. WHATTTT!!!EDIT: After some kind enlightenment from a fellow FI-ster, the upside is that there is no interest charged on student loans (yay!) and the charges are adjustments for inflation to re-adjust the loan amount to today’s value. The downside is that those additional costs on my student loan balance are legitimate student course costs I incurred after starting my Masters, which I conveniently forgot about after I deferred from post-grad study *sad face*.
  • My initial $1,923 investment into bullion has decreased to $1,771 in a year and a half. It’s a small loss of $152 however I’m not generating any dividends from bullion so compared to other investments that earn 4% return that increases from a $152 loss (-8%) to a $229 loss (-11%).
  • My spending this year on Entertainment (dining out and alcohol) has hit $10,300, and the year hasn’t even ended. Boo.
  • Neglected my sewing, fashion and gave up on starting a business. Even bigger boo.

STRONG QUARTER LIFE CRISIS HAPPENING AND I’M NOT EVEN 25 ANYMORE!! Time to comfort eat on a box of leftover Christmas chocolates…


NEXT year in 2017, there is going to be more of this:




And less of this:







AND my 2017 MONEY resolutions in detail broken down:

  1. Sort out my HECS debt repayment issues ASAP and why they are not being recorded by the ATO.
  2. Set up an investment mandate and build a portfolio to follow this mandate
  3. Save $1,100 a month (25% of current take-home pay)

Investment mandate for 2017: $20,000 portfolio

  • 80% high growth (e.g. shares) = $12,000
  • 30% stable (e.g. cash emergency fund) = $6,000
  • 10% insurance (e.g. bullion) = $2,000

It got this idea from the McAlvany podcast which changed the way I viewed investments. Instead of creating an investment mandate or guideline based on different asset classes, invest based on how different growth brackets which may house many different asset classes. It seems simple but makes a lot of sense, don’t you think?


Total expected portfolio by end of 2017:

  • $2,000 bullion
  • $6,000 cash
  • $16,200 super in 2016 + $7,300 super contributions in 2017


TOTAL ANTICIPATED ASSETS: $28,700 (Total anticipated assets incl. super: $52,200)


This year is going to be a big investment year – let’s cheers to making the first step towards building an investment portfolio!


xx Miss Piggy


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