This is my first net worth notice – and written a few months after the fact. This is intended to provide the baseline for future updates.
This quarter had a number of one offs. Firstly, I got married. Also, a honeymoon. That being said, our net worth grew within the quarter – which I was surprised by and very happy about. A good amount of the wedding and honeymoon expenses were offset by wedding presents.
Our net worth as at 30 September 2017 was approximately £135k, broken down roughly as follows:
Cash - 15,000
Long term investments - 15,000
House - 100,000
Cars - 4,000
For the record, I do not think that my cars (yes, plural) deserve to be on this list. There is an outstanding loan against one that I am paying down. To encourage me to pay it down, I include the cars and the loans in my net worth. Otherwise, paying down the loan would lower my net worth. When the loan is paid off, I intend to strip the car out of the calculations.
My thoughts on our portfolio breakdown
We hold a lot of cash, more than we probably need to. What with being a little busy recently, I haven’t moved excess funds anywhere (loan payoffs or investments). This will likely change next quarter.
We also have a lot of house. We bought the house with a 30% deposit, the house has risen in value and we have paid off some of the mortgage. We therefore have a sizeable amount of equity tied up here. Not optimal, but what can you do.
Long term investments, I want to pile money into investments over the next year or so, so watch this space!!
So there we go, a quick run through of where we stood as at 30 September 2017. Check back early Jan 2018 for the update.