December Net Worth & Spending: +$726 NW

This past month has been a crazy month in both spending, celebrating and saying farewell.


December and the year 2017 ended on a high after celebrating Mr. Piggybanks’ big 30th birthday, hanging out with new and old friends, travelling non-stop, saying farewells, enjoying Christmas back at home and bringing in the New Year with a bang. By the end of the month I had packed up my life, said all my goodbyes and departed on a long coastal drive from Sydney to Melbourne.


Three days of driving and 1100km later, I’m writing to you from a different (and colder) corner of Australia. Today marks the close of one chapter and the beginning of a new life in a new city. The feeling is bittersweet and my mood is sober. With a new city comes new adventures and new financial goals. I’ve arrived with the bare essentials and sharp focus on my financial goals this year. All my distractions have been removed and I’m literally starting a new life from scratch. It’s refreshing to start a new adventure again after 3 years in Sydney but saddening to leave a place I call ‘home’.


Ending the year on a high also meant ending the month with the highest costs. Disappointingly, however expected, my net worth has dropped after going on a shopping, gifting and party-ing spree all throughout December and spending well outside of my means.


So where did all my money go this month?

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Overhead costs dropped as I cancelled my gym membership but discretionary spending increased by 1.5x the previous month and double the average discretionary spending since November 2016 *slaps hand*.

It’s amazing what effect mindless spending on small things here and there have on the bank balance, especially when using a credit card. I understand how easily it is to have credit card debt snowball out of control when you don’t feel limited by the cash in your bank account. While I’ve never paid a cent in interest, it’s a terrifying and sobering feeling when faced with a 20% interest rate which compounds monthly. I never want to be in a situation where credit card debt snowballs out of control.


And what is my December Net Worth?

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My net worth dropped by $677 compared to last month, mainly due to a significant drop in cash in my bank accounts which converted into new dresses, jewellery, perfume and a lot of food and alcohol. I also exhausted the remaining money in my shares account to buy more Vanguard shares which will pay dividends in a couple of weeks, crossing off one of my 2017 financial goals.


Overall, December was a spendthrift month. I’m disappointed that I spent so much that it negatively affected my net worth and it was the first time I experienced a decrease on the previous month.


How was your Christmas and New Years? Did you end the year on a financial high or end the year with a financial flop (as I did)? Comment below!


xx Miss Piggy


Cover illustration by Jessica Durrant

2 Comments Add yours

  1. mawermoney says:

    Well done staying in positive net asset position!

    Christmas is a hard time where expenses are often greater than income. As long as this is budgeted and saved for throughout the year, it isn’t an issue.

    $46K of student loans! What did you study?

    P.S. Would love to know what the comments (red triangle corner) in your excel are!

  2. Thanks Mawermoney! Great to hear from another Aussie blogger. True, Christmas is a time that is hard on the wallet and the waistline! I’ve never set up ‘sinking funds’ before for anticipated expenses but I’ve learned the hard way and have set Them up now. Hopefully no more uncontrolled spending!! As for the student debt: double degree and unfinished masters… plus not earning enough to cover the minimal 1.5% CPI… it snowballs quickly! And the secret comments- ah that will stay a secret forever! Haha

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