Hi there! I’m writing anonymously, but here you can call me Maven and I’m letting you in on a secret! Last January 1st, while looking for some inspiration, I decided to calculate my net worth. And here, I’m going to show it to you in detail.
As you may have observed above, I have quite a number of deposit accounts and I’ll share why with you in some other post. I also have a few US dollars on hand which I bought last 2013 for an overseas travel and are now worth more than how much I bought them. Hah. Above amount is at current forex rate last 1/1/15; it’s PHP44.72 for a dollar while I’ve bought these back when it was still around PHP42.07:USD1. That’s a +PHP530 gain!
I moved to a new employer a few months ago and have only received my final pay computation from my past employer recently. I also have some receivable from a friend ‘cause I advanced for a musical we’re about to see. I shall talk about my mutual fund investment later too but above amount is also at the current NAVPS (net asset value per share) of First Metro Asset Inc.’s (FAMI) Save and Learn Equity Fund.
My credit card debt is for a laptop I just bought through a 12-month installment scheme for my younger brother. Deducting that from the total of all above assets and Maven’s net worth is currently at PHP338,987.41. Yay!
The Bright Idea
Like what I said above, I got this idea from another blogger, J. Money, who’s been making ‘personal finance nerds cool’ since 2008. Whaddup, bruh. I was looking for search: inspirational life ideas for 20-somethings -> came to a blog featuring the top 20 or so in different categories -> saw J. Money’s blog as the first personal finance site in the list -> read some a lot of his stuff and immediately fell in love with how fun, transparent, and inspirational his blog was. Teardrop. Maybe it was from finding someone you can relate with who’s apparently a rockstar!
From the figures I’ve shared with you above, you’ve probably learned a few things about me already. I’m a Filipino, an employee and a recent job-hopper, a BPI fan, a stock market investor, a credit card borrower, and an older sister. What I want not to be mistaken to is a showoff. Similar to my experience reading J. Money’s blog, I want to inspire other people, especially my fellow Filipinos, by sharing what I know, what I’ve been through, and where I am right now – in numbers! Getting to PHP338,987.41 has not been easy. Believe me, I started only a couple of years ago from zero. I hope that these numbers, more than anything, tell a story. And know that it’s us who will decide where it’s headed to.
I urge you to assess your net worth right now as well. It will take less than an hour to do and if you need help, you can comment below or message me here. I’d also like to blog about how to do it in the future, but for now, this is my sharing and I’m pledging to do this exercise regularly and update you on how it’s been going with Maven.