For new and existing readers, this is my journey as an anonymous millennial from -$20,000 net worth in November 2016 to financial independence and early retirement. Subscribe to my blog to stay posted!
What a year. What a ‘first quarter’ of the year. First there were the worst bushfires in Australian history which burned through the country over Christmas and straight after the coronavirus pandemic hit and a health crisis and economic collapse followed.
The last two weeks have felt like months since my way of living has changed so dramatically that it’s unrecognisable. The country has changed, the world has changed.
After going through an emotional rollercoaster because of the uncertainty of my future for the past couple of weeks, today I discovered that I was one of the lucky ones at work and my job is safe (for now). It is some relief to be one of the lucky few as the vast majority of staff have been stood down for at least a month, most likely longer. I’m very grateful for having a job right now, in addition to be given incredible opportunities that only show in a time of crisis.
In addition to that, financially, I’ve been lucky as the value of my assets have miraculously held most of its value. Cash and liquid assets are king right now and I’m lucky that I have no debt, no mortgage and no additional mouths to feed during this time. I’m so grateful right now to the online personal finance community who have shared their advice with me on the importance of being debt-free and cash-rich.
How much did I spend in March?
In the month of March, the beginning of the month was as per normal – going out, dining out, ubering everywhere – and the spending is primarily from that.
In the last 2 weeks, with social distancing rules in place, bars/restaurants/most shops/gyms have closed down and most of my time is spent at home. The upside is that spend on my weak categories (shopping + dining out) has disappeared and I gained some perspective into what is most important. Grocery shopping sky-rocketed however so this is something that I am going to focus on in April now that I’m cooking at home more as as a positive result, eating much healthier.
What is my net worth?
My superannuation has managed to only dip -7% which gives me confidence that I picked the right superannuation fund. My super is in index funds, so even though the market has dipped, it has proved to be robust and will recover when the economy is back to normal.
When the initial crash happened, I decided to buy into VGS (Vanguard International Index ex. Australia) to add to my existing portfolio of solely VAS (Vanguard Australian Index). I’m currently at a loss for both shares however as I’m investing long-term and re-investing all dividends, this isn’t a concern for me. When the economy recovers, my portfolio will regain its value.
That’s it for my net worth update and my focus is on getting through this next month, both professionally and personally. It’s going to be a bumpy ride, but when the going gets tough, the tough get going.
And now to my readers – how has this past month been for you? What have been your ups and downs?
xx Miss Piggy