020117 Net Worth Update – PHP727,511.58

Welcome to the love month! ❤

Second net worth update of the year and turns out that it’s down again as expected. Let’s see the breakdown and what’s the culprit behind these figures.

The Balance

0217

Maven’s net worth – Php727,511.58. Down by P16,374.69 from last month.

The Breakdown

If you’ve read my previous post, you might already know that my new job requires a bit of a travel. And unfortunately, I haven’t mastered yet the art of controlling my finances while traveling for work. Boo! This is one of the reasons I do not like going to Singapore and that work is forcing me to go out of the country. (I do like to travel though.) Aside from transaction costs from changing money and the difference in price indices among countries, it is impossible not to spend a little here and there to buy pasalubong and try out different things while you’re there. For me, this meant going to Universal Studios Singapore, buying a SGD45 (around Php1,600!) pajama, and getting 10 packs of Hanuta chocolates. Sigh sigh sigh. But I loved them all! I got to bond with my new workmates in USS, the pajama that I bought was something I was tempted to buy over a year ago already, and being able to share those Hanuta chocolates with my friends when I went back home was a nice feeling. In the end, it’s what you really get with what you spend that’s important. And I’m just thankful that I have the capacity to achieve that since I’ve been good with my finances in general.

17016485_10155090258108151_1641597420_o.jpg

Harbour Front station, on the way to Sentosa. All these times I’ve been to Singapore, I just found out recently that those indentations you see along the streets are actually guides for our blind fellows.

Aside from that, included in above is also my brother’s tuition for this semester charged through my credit card. I made him a supplementary cardholder and it’s become a convenient way for him to enroll himself without needing to have to carry a huge amount of money. Plus, we get points for that almost Php40,000.00 of spending! Important to note too, is that I actually already have the money to pay for that (see my deposit accounts) so it’s not a risk that I miss payments and incur interest. Point is, if you are using credit only when you have the money to cover it as well, having a credit card is in ideally an advantageous tool.

And on that same topic, I got a new credit card! Hahaha. This time for a BPI Amore Visa. It was a pre-approved card that I tried to decline at first (fun fact: BPI declined my previous credit card applications thrice!) but I eventually gave in since they offered no annual fee for life including the first supplementary. I’m eyeing to give this one to my dad when he permanently comes back to the country. And maybe if I don’t get to waive the fees for the Mastercard, then at least I have a better backup plan.

Enough of spending, spending, spending. My assets in total have gone up still with automatic investments doing the trick. So that somehow still offset all the cash outflows for the month.

I’m still expecting a downward month next as I need to pay for my life insurance, and this love month will really get me to spend a bit more. Hihi. But all’s good and as long as I’m still actively saving and investing, then the future is still bright.

Cheerios,

Maven

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5 thoughts on “020117 Net Worth Update – PHP727,511.58

  1. Francis says:

    I thought you’ll be staying in Singapore for good didnt expect you’ll be travelling back & forth in your new job. I dont have a credit card or refused to own one I should say. Paying everything with cash has always help me in managing my money well. I have this one account where I keep a lot of cash in addition to having a rainy day fund which is liquid as well. Both gives me so much peace of mind because it’s really like having 2 emergency funds both are just there in case I needs it. After graduating College I offered my parents to send my only sibling to school & their only reply was “bakit ikaw when we are da parents?” haha. Come to think of it’s great that they said no 😀 You also pay for your bro’s braces? God will surely bless you for being so generous 2 your family. Take care!

    Like

    • linmaven says:

      It might have been better for my finances if I was asked to move permanently to Singapore; that would definitely up my income. But I guess I’m thankful that they decided that I just stay here as I can still be with my family. 🙂 Besides, they say SG’s tougher now for non-citizen workers.

      I admit it was a bit scary for me too when I started having a credit card. But since I’ve disciplined myself to be frugal even before, I still take that practice even when paying on credit.

      It’s definitely a good feeling to have lots of stacks of cash! But you should also ensure you invest more to maximize your money’s growth potential. 😉

      My parents didn’t ask me to send my brother to school. It was just the circumstance that I needed to do it. And I just want my brother to have what he needs. Since my dad also got me braces before, but now, he is a bit older and not really earning better so I always try to help out in the family.

      God bless you too, Francis! 0:)

      Like

      • Francis says:

        I’ve actually stopped adding more cash in my 2 rainy day funds. I just need 2 feel very secure otherwise I dont think I can invest as much money as I have in da past & future. Prang best of both worlds sabi nga I hav both liquidity & earning growth.

        Ur a good person for doing so sending ur younger brother to College when u wer not ask. Kudos 2 u for helping out ur family!

        Liked by 1 person

  2. Mel says:

    Wow Maven, you’re back. I was actually waiting for another net worth update because you are my inspiration in keeping track of finances. Hope you write more about your Singapore adventures soon.

    Liked by 1 person

    • linmaven says:

      Hi Mel! Thanks for the holler. 😀 Yes, I should be able to upload my March net worth update soon as well. I’ve slaved away my days in Singapore so I’m not sure if I have anything fun to talk about, but I’ll try to look back and share something interesting maybe. 😉

      Like

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