Net Worth: FEB 2019

The continued rebound in local and international share markets meant that my retirement savings balance increased $43,045 (4.47%) and my geared share portfolio increased $29,660. The continued deflation of the property bubble nationwide, and especially Sydney, meant that the gain in my share portfolio was somewhat offset by the valuation of our home decreasing by $4,198 (0.55%) during the month. The rate of decline in house prices appears to be moderating slightly, suggesting a normal house price cyclical decline rather than a 'crash' or deflation of a 'bubble'. Overall, my net worth recovered $68,732 (3.13%) during the month to $2,263,713. Still below my all time peak.

Funding my university studies and running costs of my start-up financial planning business continue to cost around $2,500 per month. I received my annual bonus last month (approx. $9K after tax), which will help with cash flow for a while. I setup a free business entry in the 'yellow pages' yesterday and was immediately called by a couple of charity fund-raisers this morning seeking sponsorship/advertising support this morning. I agreed to sponsor the local Neighbourhood Watch (via a $440 ad in the local youth support magazine they produce annually) but I will have to decline supporting any other local groups (at least until I have my first paying client!) I'm still working on the website for my business, but should get that up and running by the end of March.

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Some uni 'honours'

JCU must have recently completed some processing of last year's overall results, because in addition to finally receiving a 'Letter of Commendation' (for getting a GPA>=6.0 in 2010), I also got an invitation to join 'Golden Key International Honour Society' for a once-off fee of A$95 (I also paid an extra $19.95 for a GK lapel pin). Apparently the invite was sent via a mailing list provided by JCU of students with a result 'in the top 15%'.

The $115 I paid to Golden Key might be money down the drain - aside from not getting any benefit from the on-campus social activities (as I'm studying via distance education) I'm also not young enough to make use of the professional development or career assistance benefits. From various forum posts it seems that Golden Key is also treated with great scepticism by some students - with doubts raised about how much of the funds raised from membership fees actually goes back to members via services and scholarships, compared to the amount being used for 'admin' and paying salary to the executive officers of this "non-profit" organisation. But I'll be happy enough if I just receive my membership certificate and pin without any hassles. But the fact that the links to the most recent annual report and other regional reports are broken doesn't fill me with confidence about this organisation.

Anyway, I've wasted more than $100 on other silly expenses over the years, and at least this will give me something to put in the 'Awards and Honours' section of my application to enrol in the doctorate program at the end of next year ;)

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Library costs for distance education students

It's a lot easier to be a 'distance education' uni student today compared to the situation back in the 80s. In those days when I was enrolled at Charles Sturt University there was an endless stream of paperwork being sent to and fro by snail-mail - application forms, enrollment forms, course notes and assignments. In contrast my current studies at James Cook University have involved minimal paperwork - after sending in some certified copies of my previous academic results along with my application form, everything has been done online via email, online discussion forums, course materials provided electronically, and assignments sent in via email.

One thing that hasn't changed much for the better is library access to books. Back in the 80s I could search for a book in the library catalogue using a dial-up modem connection, and as a distance education student books I requested were mailed out to me. If I didn't want to pay return postage I could check out the library of one of the local university campuses, and you could get a library card for free access under reciprocal borrowing rights. These days, it's "user pays" - to borrow the same book I just requested from JCU from the local UTS library (one of my 'almae matres') I'd have to pay $77 for one year library membership with borrowing privileges. Given the transportation costs to make two trips to the UTS library (to borrow and return a book) would exceed the cost of paying return postage to mail a book back to JCU library, it isn't worth the time and effort to visit a university library in person. One benefit of being a Masters student is that loans are for the entire semester rather than just a few weeks.

However, although borrowing books by mail is reasonably convenient, I still feel that the university could afford to provide pre-paid return postage. After all, distance students don't utilise the on-campus facilities at all, so while the university charges distance students the same fees as other students, they save on the depreciation costs that would be incurred if they had to build the additional lecture rooms etc. that would be required if all the distance students were attending campus. In a truly 'user pays' system distance education students would have to pay postage in both directions (plus the cost of the librarian picking and packing the requested volumes), but we would pay reduced course fees commensurate with on-campus facilities not being utilised.


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