November 2024 | Our Journey to Semi-Financial Independence: Income, Expenses, Net Worth, and Investments
November marked a return to routine after our overseas adventure, but not without a few surprises along the way! From shifting grocery habits to navigating unexpected car repairs, the month highlighted the importance of flexibility in financial planning. On the brighter side, November brought an exciting milestone: our net worth crossed the $1,000,000 mark for the first time, a significant step forward in our journey toward semi-financial independence.
Income and Expenses
November marked a return to normalcy on the expenses front after our overseas trip. Housing costs (rent and mortgage) adjusted back to their usual four-week monthly pattern, but grocery expenses soared to over $2,000. This jump is tied to our recent switch to Harris Farm Markets as our primary grocery store. They offer organic fruit, vegetables, and meat all under one roof, aligning with our family rhythm—we can order online and pick up conveniently during the school run.
Our cars, however, proved to be a frustration. Both required air conditioning repairs, with one car needing two visits, while the other faces a more severe issue that will need further attention. Although the total repair cost in November was relatively modest at $223, I’ve used funds saved from underspending during our trip to cover these unexpected expenses and minimise their impact on our budget.
Net Worth
Our net worth saw a significant jump of nearly $15,000, despite some adjustments to what I include in this calculation. I decided to remove my children’s investments, which accounted for over $10,000 in the previous update. However, this change was more than offset by:
An $11,000 increase in my crypto holdings (primarily Bitcoin),
A $9,000 boost in my ETF portfolio, and
A $6,000 increase in my superannuation.
For the first time, our net worth surpassed $1,000,000—a huge milestone in our financial journey!
As we approach the end of the year, this figure is likely to fluctuate. I’ll be reallocating funds to cover payments for our house build and setting up new accounts as part of a broader change in how we manage our finances. Stay tuned for updates on this in future posts.
Investments: The Road to Semi-FI
We’ve reached 23% of our $650,000 share portfolio goal, targeted for age 50! This progress includes a $7,904 increase in capital gains, as reported in Sharesight. However, some of this apparent growth stems from adjustments I made in Pearler to accurately reflect share volumes, including past purchases and dividend reinvestments. These corrections inflated the month-to-month increase, but I’ll ensure future updates are more consistent to reflect true growth through dividends and capital gains.
November performance overview from Sharesight, highlighting a $7,904 increase in capital gains.
Summary
November was a month of milestones and adjustments as we settled back into routine after our overseas adventure. While grocery expenses spiked and unexpected car repairs added a small financial challenge, careful planning and redirected funds helped manage these costs effectively.
On the brighter side, our net worth reached a significant milestone, a testament to our consistent efforts and long-term strategy. Progress toward our $650,000 share portfolio goal also saw a boost, with updated tracking in Pearler and organic gains contributing to a clearer picture of growth.
As the year wraps up, we’re gearing up for changes in our financial management approach, with more updates to come. The journey to semi-financial independence continues, and November was another step forward in achieving our goals.
Images for expenses, net worth and investments is from Pearler.com. Use LUKE62560 is you wish to sign up.
Images of detailed investment movements, including capital gains come from Sharesight.