I put aside all the ‘you are such a failure’ that I kept telling myself and tried to put in place all the strategies I knew worked in order to make sure this month was a better month.
Logically, I know net worth is a rather arbitrary score of wealth. It is in simple terms an equation. But it is difficult to look away from the simplicity of that score as a measure of your inherent trajectory toward financial independence.
If you’re wondering ‘wtf is a net worth’, it looks like this:
Assets – Liabilities = Net worth
If you’re looking for a cheat way to calculate it, you can try Moneysmart’s Net Worth Calculator but I use a google sheet because there is something satisfying about tracking this number.
I’m pretty transparent online but the more I track and the further away I move from the destitute 20 year old I used to be, the more I feel like I want to preserve a semblance of anonymity.
But tracking net worth is just so much fun for my brain and while there are plenty of financial independence blogs written by men, so few are written by women (or for women!) that I feel like continuing to be radically transparent about money is either going to help someone avoid the same mistakes I made or give them an insight into how to invest and grow their wealth (and probably do an even better job than I did!)
Getting out of a spending rut
There should be more resources for the ‘sad girl spending’ dilemma I have sometimes (maybe I’ll write a book about it) but truthfully, I don’t spend nearly as much money when I’m happy as I do when I’m sad. Happy me is content with small pleasures like a coffee in the morning or just going outside and feeling the sunshine me.
Sad me is a consumerist monster, a mid-level marketers dream and prone to all sorts of rash decisions when Amazons says “but people often buy this too”. Apparently, I’m “people” at the checkout. I didn’t need cleaning utensils that are drill-powered but I have them now. Do they work? I don’t know, but I’ll know soon because Paul pays for Prime (I am too stingy for that).
Here are a few things that I know help me break up with my sad self.
- Figure out what is causing the meh mood. If my menstrual cycle is involved, accept this is temporary
- Get myself away from my computer and do activities that spark joy (walking, baking, reading)
- Recognise that the serotonin hit from the item is actually just FAKE
- Get excited about my financial goals again – this makes spending harder when I know I’m jeopardising real goals.
Net Worth Breakdown
My net worth is predominantly driven by superannuation and my out-of-super brokerage portfolio with Pearler.
So what happened in July?
I had a 3 fortnight rental payment, I paid down my mortgage and my crypto portfolio bounced back. Sydney was in lockdown so there was no entertainment spend this budget period.
But most importantly, I hit $100K!
All investing wisdom begins with “the first $100k is the hardest” and that’s really annoying because in retrospect it is TRUE.
But I feel this weird sense of jubilation and glee and delight and excitement because from here on out, my money is going to start working a little harder for me and the harder I work, the combined inertia will re I kick in.
Here’s to the next $100k!