My step by step process of becoming rich
Net worth update, March net worth update

I love putting together my net worth update every month. I wait all month in anticipation for the day when I can pull together all of my assets and liabilities and see how I’m travelling towards my $10m goal.

March snapshot

Unforuntately March wasn’t a stellar month like February was, but then again, Feb had quite a few one off items, such as selling my car.

The sharemarket was pretty ordinary during March, I had a few outgoings and as usual, I’ve kept my properties listed at their purchase prices, even though they have gone up in price since buying them.

Jan-14 Feb-14 Mar-14 MoM movement $ MoM movement
Property 642,000 642,000 642,000 0%
Margin loan 151,880 164,097 169,219 5,122 8%
Superannuation (ex. Property) 48,794 51,566 50,977 (589) 6%
SMSF property 385,000 385,000 385,000 0%
Shares 35,698 36,464 38,268 1,805 2%
Emergency cash 300 600 903 303 100%
Home loan (587,328) (586,728) (586,128) 600 0%
Margin loan (117,437) (121,090) (123,636) (2,546) 3%
Credit card (9,455) (1,033) (1,033) -100%
Super loan (308,000) (308,000) (308,000) 0%
Net position 241,452 263,909 267,570 3,661 9%


The positives:

  • Significant increases in my share holdings outside of my margin loan
  • Continued regular investments into my SMSF and margin lending account continue strongly

The negatives

  • The tax bill for the SMSF finally came through, so I immediately paid out $3,400. Given that we’ve had to pay the ATO money, we’ll now have to pay our tax in advance on a quarterly basis. Bugger!
  • Some money went onto my credit card to set up my side hustle – buying products from China to sell on eBay, along with postage goods
  • Looking ahead:

    • I’ve started to generate some revenue from the side hustle, so I’ll look to start tracking that next month
    • Mrs Ikonz and I are on holidays soon, so we’ll be having to dip into savings and might not invest as much next month

      • Ryan @ Impersonal Finance
        on 04/04/2014

        Well done mate! As long as it’s moving up, it’s moving in the right direction!
        Ryan @ Impersonal Finance recently posted…emergency fund in actionMy Profile

      • Heather @ 20 Something Syndrome
        on 04/04/2014

        Well done! Any increases are a positive! Each month will just increase by greater percentages with all of your side hustles improving. Keep up the good work.
        Heather @ 20 Something Syndrome recently posted…Making Friends as an AdultMy Profile

      • Addison @ Cashville Skyline
        on 04/04/2014

        Great job, Jeff! Your progress is impressive. Looking forward to reading about your side hustle income!
        Addison @ Cashville Skyline recently posted…Quarter One Update: My First Net Worth OvershareMy Profile

      • Clarisse @ Reach Financial Independence
        on 04/04/2014

        Congrats, you really did a great job! And good luck to your side hustle!
        Clarisse @ Reach Financial Independence recently posted…Dakak Beach Resort and Gloria FantasylandMy Profile

      • JT
        on 04/04/2014

        I love reading net worth reports. I had been filling it out monthly, but have been busy this year so decided to do it quarterly. Mine was up, but not as much as I would have liked. Ten million is quite the goal. I wish you the best.
        JT recently posted…Should You Save or Should You Earn More Money?My Profile

        • Project Ikonz
          on 11/04/2014

          $10m is a massive goal, but I’m really keen to keep on track.
          I find if I take any longer than a month to track my net worth, I don’t have an opportunity to tweak my investment strategy to keep on target.

          Glad you’re enjoying the updates JT!

      • No Nonsense Landlord
        on 05/04/2014

        Keep going!. Long before I get 10M, I am going to be outta here!

        But I do have a good shot at it, if I worked till I am 70.

        The market has been so sloppy lately, every time I put more in, it stays even. :-(
        No Nonsense Landlord recently posted…My Tenth Investment Property and Fourth Four-PlexMy Profile

      • debt debs
        on 07/04/2014

        I can’t see the comment box very well to type this but hoping it goes through.

        Just wanted to say I like monthly updates and will look forward to yours and other postings.
        debt debs recently posted…Top Ten List – What I Don’t Like About My InvestmentsMy Profile

        • Project Ikonz
          on 11/04/2014

          Glad you’re enjoying the monthly updates. I really do look forward to writing them all month.

      • Shannon @ Financially Blonde
        on 08/04/2014

        Great work Jeff! What sort of products are you selling on eBay? Are you going anywhere fun on your vacation?
        Shannon @ Financially Blonde recently posted…Music Mondays – I Need a HeroMy Profile

        • Project Ikonz
          on 11/04/2014

          Heading to the US for my holiday (West Coast).
          At the moment I’m selling mainly accessories for iPhones, but I have some more stock coming in in the next few weeks.
          Unfortunately there’s a huge lead time to wait for inventory from China.

      • Glen @ Monster Piggy Bank
        on 21/04/2014

        Best of luck with your continued growth. I used to track my overall net worth each month, but the task got too big with all the different things I have on the boil. Now I just do it all at tax time every year.
        Glen @ Monster Piggy Bank recently posted…Protecting your assets with insuranceMy Profile

      Comments are closed.