Good day, world! I’ve been on a net worth break last month (though I will probably make an antedated entry too) and have missed giving you updates on the money money money.
To get straight to the point, I’ve been on declines these past two months as I start to spend the bonus I received in Q2. Hehehe. It’s making me sad as usual but I’m trying to be accepting of the fact that my net worth will always be a progression of highs and lows. As long as the general trend is on an increase, then we’re good!
Deposit accounts. My cash balance has significantly dwindled down. A portion of this is from fully-paying the SunLife VULs I got for my two brothers at Php12,000.00 each, and my mom for Php30,000.00. Another is from lending out money as can be seen in the increase of my receivables, and another is from plain old increase in spending.
The past few months have been quite eventful. We had a company seminar last June in Singapore, then I went back for our quarterly business review with the zone management at the start of July. My aunt and cousin visited us from Taiwan and they were here when I just got back home. We went to the beach and also went sightseeing in different universities, museums, and malls. Dad is also coming home by the end of August! (Yey!) Overall, I have spent around Php10,000.00 for the Singapore trips, Php25,000.00 for family expenses, and Php10,000.00 for dad’s flight.
Daddy, if you’re reading this, it’s okay! Don’t panic. See, I still have lots of money? JK.
Investments. The stock market is doing well lately! The PSEi broke the 8,000 level following Pres. Duterte’s SONA, signaling the good outlook in the Philippines and the trust of investors that the economy is growing.
The first three lines in my investment portfolio (mutual fund, stocks, VUL) clearly shows this general increase. While the next three (COOP, company shares, and condo) are from regular additional contributions.
Liabilities. Another main culprit in the decline of my net worth is the significant increase in my liabilities. However, a closer look would reveal that part of it is actually offsetting in another asset account. Check the company receivable at Php133,231.89. These are chargeable expenses to the company for lodging, food, and other miscellaneous items from my business trip, which I charged to my personal Mastercard. As a result, I’ve maxed out my credit card limit but my personal charges are just actually around Php50,000.00, which again are attributable to some of the events mentioned earlier.
As to my Visa credit card, I’ve already charged the balance of the certification course I’m taking starting September. It is also on a 6-month 0% installment basis, hence, we will see this balance gradually zero out by the end of the year.
Honestly speaking, it’s taking me some effort to write about all these details regarding my personal finances. I never liked complications and difficult situations, but life has served a lot of that lately, and resulted to my numbers running haywire. I would have just shrugged this off and never cared what actually happened but this blog is making me more accountable too.
Analyzing all of these makes me realize that something has to be done. And through the help of other blogs I’m following, I get a lot of insights and tips on what more I can do to improve my finances. Those in my mind right now are as below, coming from the three main blogs that I am into lately:
- Have a side hustle to augment my income – Budgets Are Sexy has an extensive list of side hustles from personal experiences of contributors, including advantages and disadvantages of doing each
- Create a system to “automate” my finances – The Money Habit suggests that making systems on how you spend, save, and invest is more effective than relying on discipline
- Simplifying life and planning for a mini-retirement – Paula from Afford Anything has definitely got these milestones under her belt already. She writes comprehensive posts about her passive income source (which is rental properties), and is basically a full-time blogger now.
I hope you do check out their blogs. I am in no way related to them aside from being a follower. But what I lack in sharing detailed tips, I trust you will learn from them.
That’s it for me! Do drop a holler below even just to let me know that you’re still out there! Haha. Regularly updating this blog is still a work in progress for me, but if you want to get constant updates on what I’m up to, follow me on Facebook by liking my page down below!