Tuesday, 30 June 2015

June 2015 in review

Millionaire by 2020 2019 Plan – June 2015 Update
Millionaire by 2020 2019 Plan – June 2015 Update

In June, the fall in the share market really started to take its toll on the MoH.  The Millionaire by 2020 2019 plan tracker fell for the first time this calendar year to 42.6%.  This was a 0.3% drop from May, but not unrecoverable.  And it’s still way up on my target of 26.3%.  

My shares sank again; they’re now 14% lower than their February high.  Super and cash were both up by a fraction.

As predicted, credit card payments fell due, along with my annual margin loan interest payment, which both impacted my cash balance.

My goals bucket expenditure was quite minor – some small appliances and professional membership fees, which you could argue shouldn’t have come from the bucket in the first place.  But it’s not like I’ve used it for anything else recently!

I have to admit, I’ve gotten sucked into these Amex offers, where you download an offer onto your card and then get a discount when you’ve made a purchase with a particular vendor.  Generally, I’ve been good, and just used offers for purchases that I would made anyway at Woolies, 7 Eleven, etc.  But I did end up buying more small appliances than absolutely necessary to cash in on one of the offers.  The replacement toaster (its predecessor died a horrible death by staying stuck on and filling the entire house with smoke while I was out for a walk) is well used, but the others remain in their boxes.

Looking back at the last financial year, despite the share market issues, I’ve made quite good progress relative to the plan.  My expenses came in really close to budget – they were over budget by only $490.60, or $41 per month.  And with my cash savings and investment growth, the Millionaire by 2020 2019 plan tracker is exactly double last June’s total – 42.6% v. 21.3%.

Looking forwards into next financial year, the skies are positive.  I negotiated an increase in my contract rates, which takes me slightly ahead of where I was in my former role.  So there will be a bit more money in my goals bucket to play with in future years.

With these changes, I will need to update my budget in July.

Happy end of financial year, and may your tax refund be positive in July!

Speak to you in the new financial year.


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