What is your financial status? (2 Viewers)

[tom-spin]

Thanks for the offer guys, but I seem to be doing fine at school anyhow.
Aiming to complete a degree in finance and corporate management so I can direct my funds and be able to manage my credit which I will fortunately been able to become accustomed to when I turn 18 (when I start uni).

 

[myst1fy]

Harry Potter is for LIFE.
Invest in anything Harry Potter related, and you'll win in life.

just the books thx

 

[big_jezza]

Age: 19 and a half
Money in Bank: bout $20
Current Assets: some musical equipment, thas bout it
Liabilites: none
Job: centrelink youth allowance

 

[SpoonSamba]

AGE: 20
SAVINGS: $11 000
OTHER FUNDS: Few hunded bucks in my every day spending account, waiting on tax return (around 1k and my scholarship check for $500)
DEBT: HECS (will be around 20k when I finish, and double that if I do masters )
JOB: 2 jobs, one as a ward clerk and one as a physio receptionist





And can I just say - FUCK YOUTH ALLOWANCE, just get a job or take a year off and save and then spend that when you're at uni. Like a normal person. What a waste.

 

[SylviaB]

Richer than the richest
We certified gettin' it

 

[SylviaB]

haha its retarded to count personal possesions as "assets"

assets have to be marketable

ie. not "clothes" lmao

 

[Garygaz]

Age: 16
Money in Bank: $4**,*** (don't have access until I'm 18)
Current Assets: car > 10 years old (BMW i135), wristwatch valued at around $10,000 and a healthy mind
Liabilites: N/A
Job: None.

it sucks because i've pretty much lost my motivation to work as hard as i could...i'm lucky (in a bad way)

you've posted this twice now. somebody's insecure.

 

[Lolsmith]

Yeah I'd be pretty insecure about having $400k

 

[SylviaB]

unless you're really intelligent that 400k doesn't mean you've got it made

 

[abbeyroad]

hahahahaa 400k that's about how much we lost in the gfc


bastard

 

[zombie omie jay]

Age: 24
Money in Bank: $100
Current Assets: 1984 Trueno (it's a car)
Liabilites: $28,000 of credit card debts (mainly due to holiday to Europe, the Trueno and the plasma TV I bought a few years ago)
Job: Working for the Government (ie dole gives me $100 per week). Live off friends otherwise.
Accommodation: Currently staying at my best mate's place. He has a spare room.

lol $28k cc debt

 

[kfnmpah]

Age: 19
Money in bank account: 17k in my long term deposit, $1300 in my high interest savings account, $600 in my savings account, $250 in my other savings account, $50 in silver coin in my money jar
Assets: Fully restored 1974 1100cc mini estate van ~12.5k, shares my dad got when I was born ~75k, for me and my sister, (if this counts) signed, framed led zeppelin poster I got my my 18th birthday ~$1.5k
Debt: Will have a HECS debt ~15k
Job:10 hours a week as a gym receptionist ~$17/hour

EDIT: Remember those yellow commonwealth bank books you had when you were in kindy? My 17k started with me saving my 20c a week pocket money in that, baby sitting money, paper route money, almost every penny I ever earned since I was 5... Wog father... you know how it is.

 

[Red_John]

Age: 21
Money in Bank: $30,000
Current Assets: $3,000 in shares + Car $10,000
Liabilites: Nil
Debts inc HECS: Nil
Income: Youth allowance + Casual work. Maybe earn 15-20k a year with summer break.

 

[Equity]

Age: 21
Money in Bank: $30,000
Current Assets: $3,000 in shares + Car $10,000
Liabilites: Nil
Debts inc HECS: Nil
Income: Youth allowance + Casual work. Maybe earn 15-20k a year with summer break.

newb accountant

Why is a car a current asset lol. Must be pretty shit if it doesn't last for 12months.

 

[Red_John]

Age: 19
Money in bank account: 17k in my long term deposit, $1300 in my high interest savings account, $600 in my savings account, $250 in my other savings account, $50 in silver coin in my money jar
Assets: Fully restored 1974 1100cc mini estate van ~12.5k, shares my dad got when I was born ~75k, for me and my sister, (if this counts) signed, framed led zeppelin poster I got my my 18th birthday ~$1.5k
Debt: Will have a HECS debt ~15k
Job:10 hours a week as a gym receptionist ~$17/hour

EDIT: Remember those yellow commonwealth bank books you had when you were in kindy? My 17k started with me saving my 20c a week pocket money in that, baby sitting money, paper route money, almost every penny I ever earned since I was 5... Wog father... you know how it is.

Check out Nab Ubank if you haven't already mate. I discovered them while back, they pay 6.51% if you save $200 a month with them or 6% otherwise. And they track other savings accounts and make sure they also match/beat them.

What rate are you getting on your term deposit? Are you sure your getting a good deal? I remember back in 2007 i locked in a one year term deposit at 8% the day before the bank reduced the rate, i doubt i'll get a term deposit rate that good for awhile.

Also did you consider paying your hecs upfront and getting 20% discount?

 

[Red_John]

Age: 19
Money in bank account: 17k in my long term deposit, $1300 in my high interest savings account, $600 in my savings account, $250 in my other savings account, $50 in silver coin in my money jar
Assets: Fully restored 1974 1100cc mini estate van ~12.5k, shares my dad got when I was born ~75k, for me and my sister, (if this counts) signed, framed led zeppelin poster I got my my 18th birthday ~$1.5k
Debt: Will have a HECS debt ~15k
Job:10 hours a week as a gym receptionist ~$17/hour

EDIT: Remember those yellow commonwealth bank books you had when you were in kindy? My 17k started with me saving my 20c a week pocket money in that, baby sitting money, paper route money, almost every penny I ever earned since I was 5... Wog father... you know how it is.

Check out Nab Ubank if you haven't already mate. I discovered them while back, they pay 6.51% if you save $200 a month with them or 6% otherwise. And they track other savings accounts and make sure they also match/beat them.

What rate are you getting on your term deposit? Are you sure your getting a good deal? I remember back in 2007 i locked in a one year term deposit at 8% the day before the bank reduced the rate, i doubt i'll get a term deposit rate that good for awhile.

Also did you consider paying your hecs upfront and getting 20% discount?

 

[Red_John]

newb accountant

lol coming from someone called Equity?........

 

[Equity]

lol coming from someone called Equity?........

coming from someone that killed accounting 1A last sem.

A car is not a current asset (unless it's really shit), most cars last for more than 12months.

Also, cash is a current asset. Just getting technical.

 

[Red_John]

I too know the conventions of non-current and current but cared little for following them on a student forum.

 

[zombie omie jay]

passed accounting 1A

accounting expert

lol