Side Hustle Income – June 2021

Following our side hustle series detailing the side hustles we participate in we have decided to track and detail the income we generate each month. If you want to read all the previous linked posts you can find them all here.

June marks the end of the financial year for us Australians which means its tax time. The end of the financial year for us side hustlers means it’s time for to prep our receipts, invoices and other items for our tax agent.

Being the end of the financial year it’s also time to calculate our 6 month average monthly side hustle income.

Average Monthly Income = $688.95

Year to Date – Month by Month Comparison

These charts are from my Income and Expense Tracker click on the image for the link.

June 2021 – Side Income Breakdown

These charts are from my Income and Expense Tracker click on the image for the link.

Total Side Hustle Income – June 2021 = $385.31

Total Side Income 2021 (to date) = $4,133.71

We break our side hustles into categories currently.

Please note that the numbers below and above don’t include tax so these are less spectacular when you take this into consideration (these are pre-tax figures).

Gardening = $323.75

Our gardening income has continued to drop as we prioritised our own renovations on the weekends. Hubby has been lucky to develop good relationships with his customers so they have been really understanding of our need to reduce gardening hours this month. We forecast our gardening income to rise a little in July 2021, however we may not see our previous highs of $600 a month in this category for a while. My husband usually works 4-8 hours per week on his gardening side hustle (less this month). If you want to find out more on doing Gardening as a side hustle I cover it in this blog post here.

Airtasker = $0.00

I didn’t complete any tasks on Airtasker in June. June was a huge month in our home due to the competing demands of renovating a house, working full time, and still trying to be a decent human and mother. I still watch for tasks and hope to be back on it shortly. If you want to find out more on doing Airtasker as a side hustle I cover it in this blog post here.

Etsy = $42.56

A nice little month for us here on Etsy, and I’m always forever grateful for any income here as it’s passive income. I’m also working on an AirBnB host guide at the moment, which I’m hoping to have ready for the store in September 2021 (so stay tuned). If you would like 10% off any of my Etsy items click here to view my store.

Other (including Market Research) = $19.00

This consisted 100% of Market Research and I found a great new app called Field Agent (Australian App, not sure if there is an equivalent for those who are reading from overseas). I’m really loving the app, and I’ve added it to my list of This consisted 100% of Market Research and I found a great new app called Field Agent (Australian App, not sure if there is an equivalent for those who are reading from overseas). I’m really loving the app, and I’ve added it to my list of MNext month our other side income will be $1500 thanks to my talented husband who managed to get some additional income through his work connections custom making game boards. which you can read more about here. In April I applied for lots of market research gigs, however was unlucky and didn’t get picked. I think its important for me to mention that I don’t always get picked, and likely spent an hour in April filling in surveys that didn’t amount to any money. You win some you lose some. You will find links to all of the Market Research companies I’m signed up for here. Next month we forecast our other side income to be over $1500 thanks to my talented husband who managed to get some additional income through his work connections custom making game boards.

Notes: I track my Income and Expenses via my tracker available on my Etsy Store Link Here .

Income and Expense Tracker with Automated Dashboard Single | Etsy

If you would like to have articles like this delivered to your inbox subscribe below.

Side Hustle Income – May 2021

Following our side hustle series detailing the side hustles we participate in we have decided to track and detail the income we generate from them each month. This is the second post of many and you can find them all here.

Year to Date – Month by Month Comparison

These charts are from my Income and Expense Tracker click on the image for the link.

May 2021 – Side Income Breakdown

These charts are from my Income and Expense Tracker click on the image for the link.

Total Side Hustle Income – May 2021 = $574.62

Our side hustles for 2021 are broken down into categories.

Please note that the numbers below and above don’t include tax so these are less spectacular when you take this into consideration (these are pre-tax figures).

Gardening = $504.35

Hubby works between 4-8 hours a week doing gardening. He works full time at the moment so his gardening is completed on a Saturday, which isn’t my favourite as it means less family time. That said I’m thankful for the extra income as it’s helping us reduce how much we dip into our savings for our renovations. Our gardening income was down this month due to one of hubby’s customers going on leave, and another switching from weekly to fortnightly visits. At this stage we are not looking to take on more customers so this amount might be the new norm. If you want to find out more on doing Gardening as a side hustle I cover it in this blog post here.

Airtasker = $0.00

Another month of zero tasks in Airtasker. I did have a good look, and almost put in an offer or two but I’m still struggling with just the day to day full time work week to be honest. It’s really hard to hustle when you’re just exhausted from the daily grind (So don’t give yourself a hard time if this is you as well, and make sure to take time out when you need it). If you want to find out more on doing Airtasker as a side hustle I cover it in this blog post here.

Etsy = $25.27

My goal for May was to create some new products, and I didn’t achieve my goal at all. I’m not going to beat myself up about it, but I will try and set some time for it in June. If you would like 10% off any of my Etsy items click here.

Other (including Market Research) = $45.00

After zero market research in April I managed to pick up one 45 minute task on Askable worth $45 ($1 a minute which isn’t bad). I applied for quite a few so for those who keep getting screened out don’t lose hope (Getting screened out happens to the best of us). You will find links to all of the Market Research companies I’m signed up for here.

Notes: I track my Income and Expenses via my tracker available on my Etsy Store Link Here .

Income and Expense Tracker with Automated Dashboard Single | Etsy

If you would like to have articles like this delivered to your inbox subscribe below.

Net Worth Update – May 2021

Goodbye May and welcome to the last month of the financial year (for us Australians) !!! As you know we like to be open and honest with our journey to financial independence so we share our monthly net worth. If you would like to see all net worth posts use this link here.

I’m not sure about you, but May was a pretty uneventful month for us. I would go so far as to call it boring from a financial point of view. May felt like we were just rinsing and repeating April. We automated our investing in April (Feel free to read more about how we automated our investing here), and so we just kind of sat back and let everything do it’s thing according to our investment strategy (You can read all about our investment strategy here).

I’ve tracked our net worth for the last 2 years and enjoy seeing it grow over time. I strongly believe that tracking can assist you on staying the course, because lets face it this getting wealthy business takes time (and it’s easy to feel like you’re not making progress and lose interest).

Being a bit of a spreadsheet nerd I track our net worth in a custom made spreadsheet which is available here for $5.50.

I also track it on a day to day basis on a free IOS app called ‘My Net Worth’ so I can see how I’m going over the month, and then I enter the details from the app into my spreadsheet.

Net worth – $945,323 (up $10,014)

Net Worth Calculator available here
Net Worth Calculator available here

Assets – $1,298,073 (up $9,708)

Another good month here. Our asset increase was made up from our retirement funds (called superannuation here in Australia), and our brokerage.

So what did we do right?

We consistently invested thanks to Pearler’s auto investment feature and invested $4000 this month (If you would like to read more the Pearler Investment Platform use the link here). Our retirement funds also continued to grow thanks to our generous employment benefits (My husband receives 17.5% employer superannuation contributions, and I have deferred tax benefits for any super contributions that are made to my account).

So what did we change?

Changes this month included consolidating my superannuation from my 3 month contract role in the first quarter of 2021. We also made the decision this month to sell out our Spaceship (made a loss), and transfer it to crypto (so we’ll see how that goes….). Please note that Crypto makes up less than 0.1% of our net worth.

What assets do we include?

Often I see a lot of chatter around what should be counted towards your net worth. I don’t believe there are any hard or fast rules, and as you know I’m a huge believer in the saying ‘You do you and I will do me – its a no judgement zone here‘.

For us we like to keep things simple and don’t count our depreciating assets like cars and the boat (otherwise we’d be constantly changing the prices every month).

I also count our primary place of residence towards our net worth as we intend on selling it as part of our financial independence plan.

Additionally we count our retirement accounts (called superannuation in Australia), taxable share/brokerage accounts, and our crypto (yep I know super controversial to add this one in but what the hell).

Liabilities – $353,056 (down $306)

As you can see our home loan decreased this month after we withdrew for renovations last month. We didn’t pay any extra above the minimum as we are still spending any spare dollars over our investing on renovations. I don’t see the situation changing soon, and we actually will likely need to dip into this again in the coming months.

What liabilities do we include?

For liabilities we keep things simple and include anything and anyone we owe money to.

How do you calculate net worth?

If you don’t want to download the free IOS app or use a spreadsheet you can calculate this manually.

  1. Writing down all of your assets and liabilities separately.
  2. Then add up all of your assets together to get a figure (write this down).
  3. Then add up all of your liabilities together to get a figure (write this down).
  4. Then take the sum of your assets and deduct the sum of your liabilities.
  5. This is your net worth.

Net Worth = (Sum of your Assets) – (Sum of your Liabilities)

Happy Calculating !!!!! If you don’t want to do the calculations yourself the Net worth Tracker I use is available in my Etsy shop for $5.50 (click on the image below for the link).

If you would like to have articles like this delivered to your inbox subscribe below.

Side Hustle Income – April 2021

Following our side hustle series detailing the side hustles we participate in we have decided to track and detail the income we generate each month. This is the second post of many and you can find them all here.

First off sorry this post is a little overdue I got a little side tracked in last month (and it slipped my mind).

Year to Date – Month by Month Comparison

These charts are from my Income and Expense Tracker click on the image for the link.

April 2021 – Side Income Breakdown

These charts are from my Income and Expense Tracker click on the image for the link.

Total Side Hustle Income – April 2021 = $773.58

Our side hustles for 2021 are broken down into 5 categories currently.

Please note that the numbers below and above don’t include tax so these are less spectacular when you take this into consideration (these are pre-tax figures).

Gardening = $676.38

We forecast that our income from Gardening in April would be less with Easter. So I was pleasantly surprised that we ended up increasing this slightly. My husband usually works 4-8 hours per week on his gardening side hustle. If you want to find out more on doing Gardening as a side hustle I cover it in this blog post here.

eBay = $0.00

As mentioned in my last post I’m no longer selling on eBay so this is the last month I will report here.

Airtasker = $0.00

I didn’t complete any tasks on Airtasker in April. I just didn’t feel like it to be honest, but I still watch for tasks and hope to be back on it shortly. If you want to find out more on doing Airtasker as a side hustle I cover it in this blog post here.

Etsy = $72.00

It was a quiet month on Etsy. I’ve stopped running ads so this may have contributed. I also haven’t added any new products and this always seems to help. I’m still grateful for what I did earn in April as I didn’t spend anytime on this side hustle this month. I’ve got a few ideas in the pipeline in the next few months so lets see how it goes next month. If you would like 10% off any of my Etsy items click here.

Other (including Market Research) = $25.20

This consisted 100% of bottle deposits which you can read more about here. In April I applied for lots of market research gigs, however was unlucky and didn’t get picked. I think its important for me to mention that I don’t always get picked, and likely spent an hour in April filling in surveys that didn’t amount to any money. You win some you lose some. You will find links to all of the Market Research companies I’m signed up for here.

Notes: I track my Income and Expenses via my tracker available on my Etsy Store Link Here .

Income and Expense Tracker with Automated Dashboard Single | Etsy

If you would like to have articles like this delivered to your inbox subscribe below.

Our Investing Strategy

Today it’s time to pop it all on the table and share with you our current investing strategy. I use the word ‘current’ because we review our plan every 6 months so it could change in the future.

How much do we invest?

We have a recurrent auto transfer of $1000 a week from our regular bank account to our online investment broker Pearler (this transfer was set up within Pearler). Our weekly investment equates to 52k per year.

Every spare cent saved over our weekly $1000 of investing (and our regular expenses) goes towards living our best lives now before we retire early (e.g. Holiday’s, Boating and Renovating).

How often do we invest?

We have the auto investment function set up in Pearler which automatically invests our funds in our selected Exchange Traded Funds (ETF’s) once we have $4000 in our account (every 4 weeks).

With the auto investing feature from Pearler we have taken a very hands off approach to investing, and it’s been a great way for us to overcome ‘analysis paralysis’ (or overthinking investing)

How much do we pay for brokerage?

We pay $9.50 per investment (every 4 weeks).

If you would like to learn more about Pearler, and try it out for yourself use this link here to get your first trade free.

What do we invest in?

We like to keep our portfolio very simple. We want to invest in a diverse range of assets to spread our risk, but I don’t want to have to rebalance our portfolio regularly. As a result we we selected our ETF’s with this in mind.

Our portfolio is made up of two ETF’s, and we aim for a % split of the two in the following way

  • VDHG – 60% (Vanguard Diversified High Growth)
  • DHHF – 40% (BetaShares Diversified All Growth)

Both of these ETF’s are high growth and pre diversified with a variety of different assets underneath them (including Australian Shares, International Shares, US Shares, Bonds, and Emerging Markets to name a few).

DHHF is a very new ETF which was created in December 2020. It’s very similar to VDHG, and many may question my desire to hold both. Personally this decision was made due to wanting to reduce the % of bonds that I hold (and that I started investing in VDHG first).

How do we keep track of our investments?

We use Sharesight to keep track of our investments, and it’s linked to our Pearler account for easy tracking (new ETF purchases are automatically added to my Sharesight account). Sharesight also has an app on your phone which makes it really easy to track your portfolio.

As we have less than 11 holdings we are eligible for a free account. If you would like to read more information about Sharesight use the link here.

What do we do with our dividends?

We have decided that for us the best option is to be enrolled in our Dividend Reinvestment Plan offered within our ETF’s. This means all of our dividends are automatically reinvested and used to purchase more ETF’s.

If you would like to learn more about Dividend Reinvestment Plans use the link here.

If you would like to know how to turn on / or off your Dividend Reinvestment Plan read more here.

An Overview of Our Investing Strategy in 2021

Other Questions?

If you have any other questions feel free to contact me either here by commenting or via social media.

If you would like to have articles like this delivered to your inbox subscribe below.

Disclaimer: This blog is for education and entertainment purposes. It is not intended as a substitute for professional financial, tax or legal advice. Any information is general in nature and is relevant to my situation. It does not take into account your objectives, financial situation or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on any of the information. While I do my best to provide accurate information, I accept no responsibility for any inaccuracies that may be communicated.

Full List of Pearler Brokerage Free ETF’s

Last month I posted my review on Pearler an online share investment platform (to view the review in full click here). I’ve recently been advised that a link that was posted within it requires you to sign up to Pearler to view so I’m sharing for you here (so you can view without signing up for an account).

One of the big positives of Pearler that I wrote about was the ability to buy a selection of Exchange Traded Funds (ETFs) without brokerage costs. Pearler have 44 brokerage free ETF’s listed on their site at the time of this post and are brokerage free provided you don’t sell any of them within a year. If you do have to sell you will be subject to brokerage costs.

The full list of the 44 ETF’s (free from brokerage costs) from Pearler at 17th May 2021 are as follows (listed from Most Popular to Least Popular on the site):

ETF TickerETF NameInvestment Company that manages the ETF
QUALMSCI Global Quality (ex-AUS)VanEck
ACDCGlobal Battery Tech & Lithium CompaniesETF Securities
ROBOGlobal Robotics & AutomationETF Securities
ESGIMSCI Global SustainableVanEck
ESPOMVIS Global Video Gaming and eSports ETFVanEck
MVWAussie Large-Caps (equal weight)VanEck
CLNES&P Global Clean Energy ETFVanEck
IMPQBetter Future FundeInvest
FANGNYSE FANG+ CompaniesETF Securities
GOLDPhysical GoldETF Securities
CURES&P US BiotechETF Securities
TECHMorningstar Global Tech Wide MoatETF Securities
ZTAUS&P Aussie 300 DividendsETF Securities
QHALMSCI Global Quality (ex-AUS hedged)VanEck
EMKTMSCI Emerging Markets SharesVanEck
MOATMorningstar US Wide MoatVanEck
GRNVMSCI Aussie SustainableVanEck
CETFFTSE China Top 50VanEck
EIGAAussie DividendseInvest
CNEWChina Growth CompaniesVanEck
MVBAussie Large-Cap BanksVanEck
REITFTSE Global Property (ex-AUS hedged)VanEck
GDXGlobal Gold MinersVanEck
GOATMorningstar World ex AUS ‘Wide Moat’VanEck
NDIAIndia Nifty 50 Large CapsETF Securities
ZYUSS&P 500 US Dividends & Low VolatilityETF Securities
ETPMPMPhysical Precious Metal BasketETF Securities
MVES&P Aussie 50 Mid CapsVanEck
ETPMPDPhysical PalladiumETF Securities
LMASNasdaq 100 Long Hedge FundETF Securities
QSMLMSCI World Small Cap Quality 150 (ex Aus)VanEck
DVDYMorningstar AUS Dividend Yield Focus ETFVanEck
ESTXEurope 50 Large CapsETF Securities
MVAAussie Large Cap PropertyVanEck
MVRAussie Large Cap ResourcesVanEck
MVSAussie Small Cap DividendsVanEck
VLUEMSCI International Value 250 (ex AUS)VanEck
ETPMAGPhysical SilverETF Securities
HLTHMarketGrader Developed Markets (ex-AUS) Health Care ETFVanEck
IFRAFTSE Global Infrastructure (50/50 hedged)VanEck
SNASNasdaq 100 Short Hedge FundETF Securities
EBNDJ P Morgan Emerging Markets Bonds (50/50 hedged)VanEck
ETPMPTPhysical PlatinumETF Securities
SUBDAussie Subordinated BondsVanEck

As you can see I’ve listed the ETF ticker, ETF name and the company that offer the ETF’s. You can use these details to then search online and complete your own research before deciding whether or not to invest.

If you do choose to invest feel free to use my referral code here to get your first trade free (regardless of what you invest in) which is worth $9.50.

Please note: This is just a list of ETF’s that are available brokerage free on Pearler, and it is not a recommendation of what you should invest in. Please ensure you always do your own research before investing.

If you would like to have articles like this delivered to your inbox subscribe below.

Photo by Burak K on Pexels.com

Up Bank Review: So what’s up with Up bank?

I’ve been meaning to try Up bank for quite some time. If you google reviews for Up Bank you can quickly see that it’s a really polarising bank. People either really love or really don’t love it, and so I decided to try it for myself (and my teenage son).

First off lets cover the history of Up Bank, how your money is secured and more importantly is your money safe?

Brief History of Up Bank

Up Bank entered the banking scene in 2018, and is an Australian mobile only bank (so there are no ATM’s, and no branches). Up has partnered with Bendigo Bank and Adelaide Bank, and so all the products that are released by Up are issued/backed by these banks.

Is my money secure and safe?

All Up products are issued by Bendigo Bank and Adelaide Bank and are covered under the Financial Claims Scheme (FCS), which covers deposits of up to $250,000 per person.

The history of Bendigo Bank and Adelaide Bank’s start over 160 years ago so there is some reassurance from the fact that a mobile only bank Up has partnered up with such established banks.

In addition Up banking uses security technology, including smartphone biometrics and advanced cryptography to keep your money secure (this level of security technology is similar to other transaction and savings accounts).

You can read more about security here.

Now that we have covered off on the history and security of Up Bank it’s time to talk about the features, and why Up Bank may or may not be the right bank for you.

What features does it offer?

The most important feature of Up Banking is that there are no account keeping fees.

Additional features include

  • Savings Features include:
    • Instantly create additional ‘Savers’ which are similar to having additional savings accounts. This allows you to track your savings into these separate savings goal (which you can name whatever you would like).
    • Automate your savings to be transferred to your ‘savers’ according to how you want.
    • Split your pay function which allows you to split your pay by % and send it to your ‘savers’.
    • Set goals for your savings so you can see your progress.
    • Round up function which rounds up your purchases to the nearest dollar and deposits the extra into your savings (they also have a handy pull down function in the app which rounds your account on demand and pops it in your savers).
    • A competitive interest rate on savings up to 1 million dollars provided you make 5 transactions in a month (Current rate is 0.7% at time of publishing make sure you check this before you sign up).
  • Budgeting Features including:
    • Automatic Spending Categorisation
    • Weekly reports and insights into your spending habits
    • Bill prediction (which is helpful for those subscriptions)
    • Helpful labelling of transactions so you actually can understand who the transaction was from (I found this really helpful because sometimes it can be really hard to decipher a transaction to confirm if its fraudulent or you simply forgot you spent the money).
    • Notifications for every transaction (really helpful as I utilised this card to assist my son in learning how to use a debit account).
    • Set trackers on budget categories and set a target amount for them.
  • Overseas Banking Features including:
    • Pay no fees on overseas purchases (including no currency conversion fees)
    • Lock your card in a few taps within the app (no phone call required)
    • Cheaper international transfers (thanks to a partnership with Wise)
  • Other Features:
    • ATM access is free for Up users at most ATM’s including Bendigo Bank, Adelaide Bank, Commonwealth Bank, NAB, and Westpac.
    • Apple, Samsung and Google Pay enabled.
    • Compatible with Siri voice commands.
    • Easy to download statements which you can then utilise for Tax or providing for loan applications.
    • The ‘Tree of Up’ – this allows you to see what functionality is planned or in development for the future. You can view the tree here.
    • Free swag when you join (eg stickers and a tracker to encourage you to start saving).
The cute swag from Up Bank when you join. I really liked the Save $1000 in a Year tracker.

Why won’t you like it?

  • If you like to connect your banking and share data to other apps such as WeMoney you will find that you may not be able to. That said Up Bank are working on this as we speak, and you can see their development tree via the link here.
  • It’s a mobile / digital bank and therefore if you like to talk to someone face to face or go into a branch this isn’t the bank for you (You access your account via the app. Support is available via the chat function (preferred), email and there is a phone number you can call.
  • If you require a joint account there are no joint accounts at this stage (but this is planned in the future).
  • The app can be a little busy to the eye and difficult to navigate at first.

My Experience with Up Banking

How did I use Up Banking account during this time?

To make the trial a little more interesting I actually had my 13 year old son test the card, and app on his phone (with me supervising and testing the features from the app on my phone). I set up the account with the aim that the features of Up would assist me in monitoring and supporting my son use his first debit card (and associated banking app). We previously looked at Spriggy, but I wasn’t happy to pay the yearly fees.

I applied for the Up card in my name, and he uses it (you have to be 16 years and older to apply for an Up Banking Account). I have the responsibility of the account, but all the money in the account is his. I deposit his pocket money and bus fare into his Up account each week.

My son has used the card over the last two months to pay for his bus fare as needed, and any small incidentals he wishes to purchase (eg from the Canteen or whilst we are out shopping). He has also used the account to make use of the round up function, add a saver, and set up pay splits to start him saving 20% of his income (pocket money).

Setting up the account

I set up my Up Banking account by downloading the app (via the app store), and providing my drivers license. The set up process for me took approximately 5 minutes and was completely painless thanks to the ID process. I have seen some reviews stating that this process can be difficult, but I didn’t have these issues.

What platform did I use to access Up banking?

My son has an android phone and I have an iPhone. We tested the application on both platforms and there was no discernible differences between the two that we noticed.

How long did we trial Up Banking?

We trialled Up Bank for just over 2 months.

Are you going to continue to use Up Banking?

Yes !!!! My son loves Up and I love it too. It’s been a great platform for him to learn on, and I love that I can assist him whilst he gets his banking training wheels.

I’m actually looking forward to him turning 16 now so I can move him over to his own account, and I can reclaim mine. I really loved all the features they offer, and didn’t miss the features that it’s missing. I’ve even managed to get my husband on board, and he’s been happily using Up for the last few weeks.

Where can I sign up and do you have any referral codes?

You can sign up via this link here and we both will get $5. Its a great way to try out a bank, and referrals like this help me run my site (so thank you).

If you would like to have articles like this delivered to your inbox subscribe below.

Net worth Update – April 2021

Goodbye April and Hello May!!!! As you know we like to be open and honest with our journey to financial independence so we thought it was about time to share our net worth progress each month.

I’m a huge fan of the Aussie Firebug who has a successful blog and podcast of the same name. He has tracked and posted his net worth with a blog post every month since July 2015. I’ve only been following him for the last 2 years, but all of his net worth posts are available here for you to look at (its quite inspiring). His posts start with a net worth of 161k and at the time of writing this post it was 887k (March 2021)

I’ve tracked my own net worth for the last 2 years and enjoy seeing it grow over time. Being a Microsoft Excel lover I track it in in a custom made spreadsheet which is available here. I also track it on a day to day basis on a free IOS app called ‘My Net Worth’ so I can see how I’m going over the month, and then enter the details from the app into my spreadsheet.

Net worth – $935,309 (up $21,275)

Net Worth Calculator available here
Net Worth Calculator available here

Assets – $1,288,365 (up $25,054)

It was a really good month for us with house prices growing steadily in our area over the last few months. We are very conservative with our house price and base it on actual sales of comparable houses in our local area not just realestate.com.au’s track my house feature (we also allow a -10% buffer).

Other contributing factors to our net worth this month are consistently investing thanks to Pearler’s auto investment feature (read more about Pearler here). This month was particularly good as we had a dividend pay-out which was reinvested into purchasing more shares.

Our superannuation continues to grow at a good pace thanks to my husband and I both receiving additional superannuation benefits above standard benefits. My husband receives 17.5% employer superannuation contributions, and I have deferred tax benefits for any super contributions that are made to my account.

Our micro investing accounts and crypto account also continue to slowly grow over time.

What assets do we include?

Often I see a lot of chatter around what should be counted towards your net worth. I don’t believe there are any hard or fast rules, and as you know I’m a huge believer in the saying ‘You do you and I will do me – its a no judgement zone here‘.

For us we like to keep things simple and don’t count our depreciating assets like cars and the boat (otherwise we’d be constantly changing the prices every month).

I also count our primary place of residence towards our net worth as we intend on selling it as part of our financial independence plan.

Additionally we count our retirement accounts (called superannuation in Australia), taxable share/brokerage accounts, and our crypto (yep I know super controversial to add this one in but what the hell).

Liabilities – $353,056 (up $3779)

Net Worth Calculator available here

As you can see our home loan increased this month and this is no mistake. We made a withdraw from our redraw account today in preparation to pay for the $4000 bill for renovations next week. Our redraw contains our Emergency Fund and renovation funds. We plan to slowing replenishing our renovation funds over the next few months by making additional payments to our mortgage.

What liabilities do we include?

For liabilities we keep things simple and include anything and anyone we owe money to.

How do you calculate net worth?

If you don’t want to download the free IOS app or use a spreadsheet you can calculate this manually.

  1. Writing down all of your assets and liabilities separately.
  2. Then add up all of your assets together to get a figure (write this down).
  3. Then add up all of your liabilities together to get a figure (write this down).
  4. Then take the sum of your assets and deduct the sum of your liabilities.
  5. This is your net worth.

Net Worth = (Sum of your Assets) – (Sum of your Liabilities)

Happy Calculating !!!!! If you don’t want to do the calculations yourself the Net worth Tracker I use is available in my Etsy shop for $5.50 (click on the image below for the link).

If you would like to have articles like this delivered to your inbox subscribe below.

Pearler Review: Why we’ve moved to the new kid on the block ‘Pearler’

Really excited to finally be sharing this news with you. We joined Pearler last year, however we delayed investing until they had joint accounts available. We are now all set up and I’m looking forward to sharing my experience to date so far.

What is Pearler?

Pearler is an investment platform founded by 3 friends in 2018 who had the desire to create an investment platform that made it easy for Australians to invest in shares and ETFs. The platform aims to decrease the stress of investing, and empower Australians to improve their financial literacy. To find out more on the Pearler founders click here.

Is Pearler CHESS Sponsored?

100% yes !!!!!! Pearler is a CHESS Sponsored brokerage platform which means that you own your investments directly.

Are my investments safe given that Pearler is a relatively new start up company?

Pearler may be a start up, but your investments are as safe as any investments you would buy on other plaforms such as Commsec, SelfWealth or any other big online broker. Pearler have written a great article which details why your investments are safe with them, and I encourage you to read it.

What are the key features of Pearler that makes it stand out in comparison to other brokerage platforms?

Click on the link above to find out more on the Auto Investing function within Pearler, and how to get the best out of this functionailty.

Although we are not using this feature ourselves as our ETF’s aren’t included in the list of brokerage free ETF’s I think this is a great idea. Click on the link above to find out more on what ETF’s are included.

Pearler is a lower cost brokerage option in comparison to many online brokers out there. I was quite impressed by the price in comparison to my broker, and considering the addition features I receive. Click on the link above for current pricing.

Brokerage Free ETFsAll Trades (Per Trade Transaction)
$0$9.50
Pearler Brokerage Pricing as at 20th July 2021

Click on the link above to see the FI Resources that Pearler has available to use. This includes 3 calculators including one which is aptly named Financial Freedom Calculator. There are also a number of awesome and informative resources via the Simplifi section of Pearler. Pearler have also published the stories of others on their Financial Independence in their own FREE for download AussieFI eBook. I strongly encourage you to check out their resources even if you don’t end up investing with Pearler.

I really love the community feel of Pearler which allows you to follow other investors and see what they are up to. Click on the link above to follow me and see my portfolio (Note: Remember to do your own research before buying ETFs/Shares that others have as my circumstances are likely to be different to you). This community feature is something that is nothing like what other online brokers I’ve seen offer. When you join up with Pearler you can update your own profile (optional), follow others, and track your progress to your financial independence goals.

Our Profile Page on Pearler, feel free to follow and be my first follower 🙂

How do I set up an account?

Signing up with Pearler is so easy simply head on over to their online site (click here for link). The online sign up process for me took less than 10 minutes (and we did a joint application). The user interface is really simple and clean. Once you have completed your online sign up you will have access to your Pearler account, however you will have to wait for email confirmation before you can start trading (this normally takes a couple of days).

I wish Pearler was around when I started investing. When we started investing we chose to invest through our bank (which is what we felt comfortable with at the time). The experience we had with applying for an online share trade account our first time was not easy or simple at all. We submitted our applications on the clunky online portal (which took ages), and then had to come into the branch to submit further paperwork. All up it took about a month to get it all sorted.

Why did we move to Pearler?

  • Automated Investing

The ability to auto invest was 100% the main reason we made the move to Pearler. As we’ve progressed and refined our financial plan towards financial independence we’ve found that automation has been a key foundation for building our own portfolio to date. Prior to Pearler we had an automated transfer of funds each payday to our share trade account, however we still had to pull the trigger and invest the funds ourselves. This may not seem like a bad thing, but often I’ll admit I would delay investing for the ‘perfect’ day (eg. I tried to time the market sometimes). Auto investing takes the decision out of when to invest, and promotes dollar cost investing. Time in the market beats timing the market any day.

  • Save money on brokerage costs

Although our ETF’s aren’t on the brokerage free list we are saving $12.45 each month by moving over to Pearler. This doesn’t sound like a lot, but if we continue investing over the next 31 years that equates to just over $17,000 !!!!! (Assuming we invest the brokerage savings and get a return of 7.5%).

  • Not just a number

With the community features, helpful investing articles, and attentive customer help I have never just felt like a number with Pearler. I feel that the relationship is more than just customer and business, its a relationship where Pearler want our family to actually reach our investing goals.

Feel free to drop a comment below with a link to your Pearler account I would love to follow you.

Note: Please note that the links to Pearler are referral links that will result in you (and me) getting one free trade if you sign up to Pearler.

If you would like to have articles like this delivered to your inbox subscribe below.

Side Hustle Income – March 2021

Following our side hustle series detailing the side hustles we participate in we have decided to track and detail the income we generate each month. This is the first of many and you can find them all here.

Year to Date – Month by Month Comparison

These charts are from my Income and Expense Tracker click on the image for the link.

March 2021 – Side Income Breakdown

These charts are from my Income and Expense Tracker click on the image for the link.

Total Side Hustle Income – March 2021 = $898.10

Our side hustles for 2021 are broken down into 5 categories currently.

Please note that the numbers below and above don’t include tax so these are less spectacular when you take this into consideration (these are pre-tax figures).

Gardening = $613.60

Hubby continued to run his side hustle this month despite his teaching work ramping up. Next month will be a little less than this month as we took a weekend off to go camping for Easter. If you want to find out more on doing Gardening as a side hustle I cover it in this blog post here.

eBay = $60.00

After 2 years doing eBay selling on the side I’ve decided to call it a day as it just wasn’t a passion for me any more. I initially started on eBay by selling down my own wardrobe and kids toys. March is the last month we will expect to have any income from this side hustle.

Airtasker = $0

It was a slow month here for Airtasker as I’ve been extremely busy with creating more products on my Etsy. I’m hoping to get back on in April, but we’ll see. The good thing with Airtasker is that you get to control what you apply for, and if I don’t like a job I don’t bid for it. If you want to find out more on doing Airtasker as a side hustle I cover it in this blog post here.

Etsy = $89.50

It was my best month here, and every time I get a sale I get extremely excited. Not for the money, but for the fact that someone might be getting value from a product that I created. I use all of my own Etsy products myself so I know the value they bring me, but its another level knowing that other people are using my products. If you would like 10% off any of my Etsy items click here.

Other (including Market Research) = $135.00

This consisted 100% of market research gigs through Askable and Research Connections. You will find links to all of the Market Research companies I’m signed up for here. I’m also in the process of applying for a study worth $460 so fingers crossed I get this one.

Notes: I track my Income and Expenses via my tracker available on my Etsy Store Link Here .

Income and Expense Tracker with Automated Dashboard Single | Etsy

If you would like to have articles like this delivered to your inbox subscribe below.