Net Worth Update February: DEBT FREE!*

Net Worth = $20.00 Australia Dollars

Total Liabilities = $0 Australian Dollars/Rupees/Yen

Variance from Last Month – $21,162 IN THE BLACK







I know that’s not the most eloquent opener to any article but that is the banshee cry I let out when I realised that I was consumer debt free.  Indeed, I am Net Worth positive (owning more than I owe) for the first time in 17 years. Shut the Front Door and Sally Flip Me Sideways.

When I opened my bank account and saw the final piece of money that has been transferred in, realising that I was no longer beholden to any of the Credit Card monies – it was like the biggest shot of euphoria I had ever experienced (even as a life-long fan of caffeinated beverages, Disney princesses and hard house music).  It was such a significant destination.

As for the journey, for those of who have been following this blog or know anything about me the you will know it has been spiky, arduous, long and yet super transformative.  

I couldn’t possibly encapsulate all the steps that got me here in one post, but have categorised just a few below:


Understanding beliefs about money were the primary thing holding me back;

Realising my Money Love Story a la Kate Northrup;

Realising nothing is ever mine – it’s just my job to steward faithfully;

Staying Generous even when in Lack – helps maintain perspective;

Understanding the Power and Pain in Compound Interest;


Mapping My Net Worth;

Learning what a budget was and how to use it;

Tracking and Learning from my Expenditure Patterns;

Automating Saving/Investing;

The Debt Snowball – a la Dave Ramsey;

The Serviette Strategy a la Barefoot Investor;

The Money Pyramid a la Manisha Thakkor;

The Envelope System;


Getting around Good People – You don’t need to do this alone;

Cutting up Dem Cards;

Avoiding Slick Marketing;

Paying All Bills on Payday;

Not spending beyond my means;

Seeking a Job that would pay meritocratically – you get what you put in;

A Weekly/Monthly Health Check on My Finances

What Next?

*Well while the consumer debt is gone I still have student loans to be cleared.  I have decided to classify these differently however for the reasons listed below:

  • My Student loan is tracking at 1.5% interest YoY and it doesn’t bite anywhere near as much as credit cards
  • The origin of the Student Loan was less financial mismanagement and more me educating my self to a better future – the lessons learnt at Uni were Grammar, Cinema and Beret wearing, not budgetary
  • Financial Freedom is as emotional as it is pragmatic – to lump in a further $31K of loans on top of my goasl would have demotivated this Welshman beyond belief.  
  • Credit Cards, Compound Interest and Spending beyond my means were the most important hurdles to smash out.

The plan is to pay the SLSC as soon as makes sense but first I want to focus on appreciating assets.  

Don’t get me wrong I hate the fact that ANYONE has demands over me but I have to choose my battles and focus on what makes sense. One thing I have learnt is that what you focus on grows, so want to focus on actual wealth creation – grown up things like housing deposits, business investments and a philanthropic foundation (optimum froth) need to be built.


When I first arrived in Australia I was earning $35,000 AUD or £20,000 GBP per annum.  I earned this working 4 separate, concurrent jobs, one of which necessitated 3 hours travel for 4 hours work.  I was scrimping every dollar and living on the free biscuits in the staff kitchen. I also had really stinking thinking about the value of money and my ability to generate wealth.

Last month I made more in one month, across my private business and day job, than I did in that whole first year.  Yes, it was a very successful month financially but I wouldn’t have got there without the stream of decisions, failures, ugly crying sessions, realisations and personal development I had done beforehand.  In fact if I had earned that much in a month way back when, I’d have probably blown it on Disco, Dancing and Dunkin’ Donuts.

No matter where you are at in your financial freedom journey let me reassure you that the power is in this process, not the destination.  Just keep putting one foot in front of the other, challenging your self and playing detective with your mindset. Financial Freedom is stellar, but Financial literacy is priceless.

I chose the banner at the top of this post because it shows sunrise in my most favourite spot, at the side of my favourite person.  This is the dawning of new beginning for me and for us. I pray mountains of the same for you!

The Future is Bright, The Future is Free and The Future is Full Flowing!

Until Next Time Finance Fans! 


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