I share these net worth updates to stay accountable, seek feedback on our strategy, and prove that achieving financial independence in Australia is feasible without relying on extraordinary luck or wealth. The table below tracks our journey from $36K in debt to reaching our goals. 🔥
My daughter turned two in September.
It’s a cliché, but bloody hell, it’s true. Time really does speed up as you get older.
Wasn’t it just yesterday that wifey and I were gallivanting around Europe without a care in the world?
Kids were always something we’d “get to one day,” and now they’ve rocked up, raising hell and melting down because The Wiggles came on instead of Bébé Finn (apparently, that was on us).
Why are they so damn cute when they tantrum though? That’s something I’d love Mother Nature to explain. It’s hard not to laugh and encourage them when they’re carrying on like a pork chop. But seriously, why so cute?
One of life’s mysteries, I guess.
So now I’m dealing with a toddler and a baby, who’s an absolute dream compared to her psychotic sister.
One minute you’re negotiating with a tiny dictator over not having Riff Raff at the dinner table, and the next you’re melting because they’ve wrapped their arms around their sister and said, “Love you, Sissy.”
😂🥰
Net Worth Update
Pretty quiet month overall. We had a few larger household expenses come through, but aside from that, it was business as usual.
.
*Expenses include everything we spend money on to maintain our lifestyle. We do not include paying down our PPoR loan as an expense, only the interest *Investment income is simply 4% of our FIRE portfolio divided by 12
I share these net worth updates to stay accountable, seek feedback on our strategy, and prove that achieving financial independence in Australia is feasible without relying on extraordinary luck or wealth. The table below tracks our journey from $36K in debt to reaching our goals. 🔥
August honestly felt like Groundhog Day.
Family, work, BJJ training, the weekend, and repeat.
We’re finally starting to find a bit of a rhythm with the baby, but any time outside of those core activities is pretty much nonexistent at the moment.
Luckily, I don’t mind routine. I actually enjoy doing the same things week in and week out.
But… I definitely missed our annual Bali trip this year.
There’s just something about escaping the middle of winter, spending most of the day in the sun, and completely unplugging from the grind. I’m already looking forward to next year’s trip. I always come back from Bali feeling recharged and ready to dive into some interesting problems at work.
I’ve always said I love Victoria’s seasons, but the last month of winter really drags. Throw kids into the mix, and it gets even harder. Everything takes more effort when it’s wet and cold outside.
Spring can’t come soon enough 🌄
Net Worth Update
Another monster month.
Shares and Super had a good run in August, but it was the business that really moved the needle. Things are picking up, and it’ll be interesting to see where we land by the end of the year.
We’ve been steadily building multi-year contracts over the last couple of years, but now I’m ready to take things up a level. I held off on marketing while we were preparing for our second baby, but she’s here now, and life’s starting to settle.
The team’s really starting to come together, too. I’ve got two guys with me now, and I’m aiming to add a third by year’s end.
It’s go time.
I’ve told the team we’re going hard after new business in Q3 and Q4, with the goal of setting up a huge 2026.
Since starting the business in 2022, I’ve taken things slow on purpose. Bootstrapping it myself meant no investor pressure, no bosses, no rushing just to tick boxes. I’ve had the time to figure things out properly and build with intention.
In my old jobs, so much work felt rushed and half-baked because the incentives were wrong. When your boss only cares that something gets done, you naturally do the bare minimum. I was guilty of it, too.
Running my own business flips that. Everything I build, every process, and every line of code must align with the bigger picture. If I cut corners now, I’m only making life harder for future Matt.
That’s why I’ve liked growing slowly. It gives me time to make better long-term decisions. Not everything needs to be perfect, but some calls are painful to undo if you get them wrong.
To summarise: “Trees that grow too quickly in open sunlight develop soft, weak wood and often don’t last. Without the slow, steady growth needed to build density and strength, they become fragile and vulnerable to disease and a shorter lifespan.
Trees that grow slowly in the shade, on the other hand, develop strong, dense wood over time. That steady pace gives them resilience, allowing them to thrive and stand tall for decades.
Companies are no different. Rapid growth can feel exciting, but if you don’t take the time to build strength and stability, you end up exposed to risks that are hard to recover from. Sustainable growth takes patience, discipline, and a long-term mindset“
We’ve spent enough time growing in the shade. Now it’s time to rise above the canopy and make our mark on the industry!
.
*Expenses include everything we spend money on to maintain our lifestyle. We do not include paying down our PPoR loan as an expense, only the interest *Investment income is simply 4% of our FIRE portfolio divided by 12
Our FIRE portfolio has hit a new milestone: over $4K per month in passive income, nearly $50K a year! That is crazy!
I share these net worth updates to stay accountable, seek feedback on our strategy, and prove that achieving financial independence in Australia is feasible without relying on extraordinary luck or wealth. The table below tracks our journey from $36K in debt to reaching our goals. 🔥
July was still very much about the baby bubble, with not much happening on the personal front.
Baby Bug #2 is teasing us with the occasional stretch of solid sleep, but we’re still waiting for the full night to land.
I’m starting to really get why people used to say that coming into work felt like a holiday from the chaos of home life. When you’re working on projects you enjoy, in an environment that energises you, it hits differently.
Even though I’m home helping out a couple of days a week, it’s been nice to duck into the co-space for a few hours, throw on the noise-cancelling headphones, and get into a zen state with a fun problem.
What’s everyone listening to lately? On my current Spotify rotation:
Don’t Tap the Glass – Tyler, the Creator
Let God Sort ’Em Out – Clipse
SWAG – Justin Bieber (don’t judge, it actually slaps)
Net Worth Update
Yuuuuuuge increase this month.
In fact, July just clocked in as the biggest monthly increase in AFB history.
The surge came from a combo of a few big invoices hitting the account for the business, plus a revaluation of our PPoR after switching lenders.
Add a strong month for shares and BTC, and we’re looking at nearly a $150K increase 🤯.
To put that in perspective, it took me four years to go from $36K in HECS debt in 2011 to $164K in net worth by July 2015.
Four bloody years of hardcore saving and investing.
Now we’ve added the same amount in a single month, and I’m working far less than I was back then.
This is the power of investing. If there are any youngins out there paying attention, lock this in.
The first 5 to 7 years of your investing journey can feel like a slog. But eventually, compounding takes over, and it starts to feel like money is working harder than you ever could. If you’ve set things up properly, you’ll be making serious gains with far less effort.
I had to double-check the numbers this month. I knew it was looking good, but damn. I owe my younger self a beer for the life I’m living now. It’s all been built on the foundation he started 15 years ago.
Feeling extra blessed this month.
.
*Expenses include everything we spend money on to maintain our lifestyle. We do not include paying down our PPoR loan as an expense, only the interest *Investment income is simply 4% of our FIRE portfolio divided by 12
I share these net worth updates to stay accountable, seek feedback on our strategy, and prove that achieving financial independence in Australia is feasible without relying on extraordinary luck or wealth. The table below tracks our journey from $36K in debt to reaching our goals. 🔥
We welcomed our second daughter into the world in June.
Baby Bug 2
I’ve often spoken about the huge benefits of having control over your time once you become a parent, but I have to say that blessing multiplies tenfold when you’ve got more than one!
Since early June, we’ve been deep in newborn life. It’s chaotic, exhausting, but honestly manageable. The biggest reason? Neither of us are working full-time right now.
Those first few weeks are rough. Most of your time goes into the older kid, cleaning, cooking, or trying to sleep before the next wake-up.
But honestly, it’s felt more manageable than I expected. We’re in a lucky spot with Mrs. Firebug at home and me able to step back from work, but it’s still surprising how doable it’s been.
Lately, on walks with the girls, I’ve been thinking about how much harder this would be if I had the stress and time demands of a full-time job.
I reckon the shift to both parents needing to work has had some serious knock-on effects, especially for new families. I don’t know what the solution is, but building a system where two incomes are required just to raise kids feels like a big misstep.
One of the things I’m most proud of as a husband and dad is being able to give my family the option to slow down. If Mrs. Firebug doesn’t want to go back to work, she doesn’t have to. That means a lot to both of us.
I’ve found a real passion for meaningful work over the past couple of years, but I’m still incredibly grateful for the portfolio we built. It gives us breathing room, and that freedom is priceless.
Net Worth Update
Not a lot to report here.
The stock market has a decent month with most of our other assets in the red.
.
*Expenses include everything we spend money on to maintain our lifestyle. We do not include paying down our PPoR loan as an expense, only the interest *Investment income is simply 4% of our FIRE portfolio divided by 12
I share these net worth updates to stay accountable, seek feedback on our strategy, and prove that achieving financial independence in Australia is feasible without relying on extraordinary luck or wealth. The table below tracks our journey from $36K in debt to reaching our goals. 🔥
Back in January, I did something that went against every instinct in my still-frugal (though admittedly less so these days) body… I bought a new car!
It took forever, but our new car finally showed up in May!
Tesla Model Y
At just under $70K, this certainly wasn’t a cheap purchase by any stretch of the imagination.
However, from a financial perspective, buying the car through the company unlocked several key incentives, which ultimately tipped us over the edge.
Fringe Benefits Tax (FBT) exemption — no FBT payable on personal use of the EV, which is a huge saving.
GST credit — we could claim back the GST on the business-use portion, reducing the upfront cost.
Depreciation deductions — the business can claim depreciation on the vehicle’s value (up to the car limit).
Operating cost deductions — charging, rego, insurance, and servicing are all deductible based on business use.
Lower running costs — no fuel, less maintenance, and no luxury car tax under the EV threshold.
Put all that together, and we bit the bullet.
I remember the first time I drove a Tesla Model S back in 2013. It completely blew me away. I told myself then and there that one day I’d own one. For the past 13 years, while I stayed laser-focused on building wealth, the idea of driving one of these incredible machines never really left my mind.
What’s strange is I’ve never considered myself a “car guy.” But there’s something about electric vehicles that clicks for me. I think it’s the technology, it’s next level. Since getting our new Tesla, I’ve been geeking out over all the features. Here’s just a taste of what it can do:
Autopilot that handles highway driving effortlessly
Cabin pre-heating, which is brilliant in winter (and I’m sure pre-cooling will be a lifesaver in summer, especially with kids)
A super responsive touchscreen that controls everything in the car
A built-in trip planner that factors in battery use, elevation, and Superchargers
Sentry Mode, a 360-degree security system that monitors the car while it’s parked
Streaming services built into the dash (Spotify, Netflix, YouTube, etc.)
And of course, the motherload of bleeding-edge tech: Full Self-Driving (FSD)! Not yet available in Australia, but it’s sitting there, waiting.
I personally don’t think we’ll see FSD in Australia until at least early 2028, but I’ve been following the rollout of the robo-taxi service in Austin, Texas with bated breath.
— Terrapin Terpene Col (@TerrapinTerpene) June 10, 2025
That’s a new Model Y, the same model as the one we just bought… driving around Texas with no one in the car. 🤯🤯🤯
If Tesla can pull this off in the US, I reckon there’ll be massive legislative pressure across the globe to start legalising this tech in other countries. The next six months will be critical. But if things go well, the idea that our car could one day receive a software update and suddenly be able to drive itself… feels like something out of The Matrix.
This isn’t just a car. It’s a rolling piece of software.
A note for anyone thinking about buying an EV:
Make sure your charging setup is sorted before buying an EV. A friend of mine is struggling with his new electric work car, mostly due to not having a consistent place to charge. If you don’t have access to a home charger, I honestly wouldn’t bother. Charging at home is a game-changer, eliminating petrol stops entirely. Relying on public chargers defeats half the benefit and makes the EV experience far less convenient.
In other news…
I was in Sydney briefly and finally caught up with the Equity Mates boys to record a podcast for their show.
This one’s been a long time coming; I just haven’t been able to make it up there for ages. We’ve been in each other’s orbits for years, and they were one of the original financial podcasts back in the day, so it was great to get this done and dusted.
You can check out our chat below.
Net Worth Update
Our cash reserves took a noticeable hit in May following the purchase of the new car. We didn’t buy it outright; instead, we paid $20K upfront and financed $50,000 through the business at a 6.1% interest rate, which I was genuinely happy with.
There are a few so-called golden rules in personal finance that people hesitate to break because they’ve been repeated so often, such as always buying second-hand or never financing a car. But like most things in finance, there are edge cases, and the FBT exemption is a perfect example.
In our case, the opportunity cost of paying for the car in full was too high. With two growing businesses, maintaining strong cash flow is critical. The interest rate was reasonable, and the fact that the loan interest is tax-deductible made the decision even easier.
Aside from cash, all of our other assets performed well this month, particularly Bitcoin, which saw another strong rally.
.
*Expenses include everything we spend money on to maintain our lifestyle. We do not include paying down our PPoR loan as an expense, only the interest *Investment income is simply 4% of our FIRE portfolio divided by 12
