February was a great month in terms of getting into a good rhythm for 2021. We got to experience a few good outings including some boating and jet-skiing with friends. Also went for a ton of walks with the dogs, a lot of visits with friends and family. Lastly, far less close relatives and folks getting sick and unwell this month.
So we had a good month on the health side, on the wealth side and on the social side. Everything came together for what could be described as the best month of 2021 so far ha!
Time for a quick update on how the numbers look for February in terms of personal financials.
Financial update
On the net worth front the month of February was flying till about the third week. At one stage our net worth was up in excess of $60k (6% in a month!), before the market and the exchange rate took a lot of that back again. At the end of it our liquid net worth grew by $17k to a new total of $1.08m. I don’t include the home in the net worth since it’s already benefiting us through lower expenses. In the end the majority of the growth came from the resources shares and sector that pushed up our local index funds.
Investment income for the month was low at $760 as few shares paid dividends, just some fixed income. We didn’t generate any other income besides from investments.
Expenses were in line with the average at around $2.5k for the month. Increase on some gift expenses and a bit of holiday planning and travel. The weekend boating trip and some bookings for additional travel down the line. Breakdown of the expenses in February were:
- 33% to food and groceries including pet food and dining out.
- 22% to household expenses like utilities, levies, taxes, cleaning staff, maintenance and any new furnishings/plants.
- 20% to medical and other insurance.
- 25% to everything else (holiday, boat, petrol, gifts etc).
We have no debt or house/car payments to make. As noted I don’t count the house (or the car) in our net worth. I paid the large expense for both of those items when we bought them.
Projects
The hunt for a business continues. Continuing to engage with the brokers, looking at businesses and doing initial screening. One did pass the initial sniff test as per the previous article, and I’ve started doing some due diligence on a potential acquisition in the fire suppression space. I’m awaiting financial information so I can look at the numbers more in depth.
On the website side, growth continues to be in line with expectations since the starting point was basically zero:
- 590 views (+134%)
- 136 visitors (+78%)
- 6 posts published
A continued thanks to those readers that continue to read and comment on the side and welcome to everyone new!
Overall February was a great month. I’m looking forward to March, the more relaxed restrictions in terms of Covid and just a general optimism for the next steps in our financial journey.
Congratulations on a great month Charlie,
Very jealous of your boat trip, the sunset pic is awesome.
Also very jealous of how you’ve managed to reduce your living expenses so low. You’ve inspired me to have the 100th round of tyre kicking with mine again!
Have a great weekend
Mr H
I wouldn’t be too jealous =) It’s just what works for us at present. I’m jealous of the side income you make, haha! Who knows whether it’s better to make an extra few Rk or to shave a bit off the expenses? Also, if you like your lifestyle and support it with a bit of side income, then that’s probably better than reducing expenses much further =). As long as we’re happy with the choices we make.