It’s already the middle of the year and this is my first post! Gah! As much as I want to rant about everything that’s happening lately, I just want to be glad that I’m spending some time again for ITCS. Welcome back to me, baby!
So where do I start.
Personal updates. I guess first of, I want to thank everyone who has missed me during another prolonged break. It’s great to hear people are appreciating what I do and are pushing me to continue to do so. Special shout out to George over at 20-something lawyer who’s doing a tremendous job with her net worth, maxing her savings rate, and the whole financial literacy advocacy. Heya, girl!
Overall, there’s been a number of changes in my life and in my financial structure. The last update I did was before we moved into a new house (owned by my grandma) and we surely had a lot of adjustments then. Renovations, new furniture, fixtures, and appliances. My life back then was either Wilcon Depot or Mandaue Foam every weekend.
On top of that, we also needed some arrangements since the new location is kinda far now to where the (big) kids of the house are studying. We had to re-assess allowances and even moved my brother to a dorm near his university.
As for my finances specifically, I lent some money to my grandma for the renovations and volunteered to take charge with the landscaping for the garden and plant box, and catering for the house blessing. For this, I had to take out a loan from the coop, which for illustration purposes I just straightforward deducted from my balance above. We finally had the blessing just two weeks ago with some relatives and friends. It was great!
May I also take this opportunity to commend Kitchen City Catering. I’ve known them from my previous employer and I feel like they are not actually that popular but their food is delicious, set up was above expectations, and service was excellent!
For those of you wondering, my net worth has generally increased from the last post primarily because I received 2 bonuses from then. Hehe. And that’s been 8 months ago so it’s just proper, right?
And speaking of bonus, I’ve already had some splurges from it. We bought Dad a motorbike! Hahaha. He finally decided to come home for good! And one of his conditions is that we let him have a motorbike. It’s what he’s used to in Taiwan, but the environment there is far from what we have here in Manila especially for bikers. Although we (as in the whole family!) had a looooot of concerns over his safety, we finally gave up on convincing him otherwise since he looks so prepared for it – like a kid on his way to Disneyland. 😐
Finally, the latest adventure that my finances has been through is with fully liquidating my FAMI SALEF mutual fund. To be honest, it was not the best time to do so and I had minimal gains from it, but I’m still largely thankful for this experience. If I hadn’t started at that in 2013, I might not be where I am right now. That decision and commitment started everything. And now it just feels overwhelming to have been able to accumulate that much money. Congrats, 23-year old Maven!
Initially, we were planning to use it as a downpayment for a car that we wanted to use so that Dad can do some work probably with Grab. But we heard they still aren’t accepting new ones because of the LTFRB hold. So we’re setting that aside for now and I’m thinking that I may use it otherwise for the impending turnover of my condo unit. Hello bank fees and new monthly amortizations!
Life updates. Can you believe how much have changed since I’ve last been here?!?
TRAIN law. The tax reform has been finally implemented! This is actually a huge improvement for me. My net tax payment % has decreased by 6pts giving me more disposable income. (Btw, the calculator they released back then was pretty accurate. So if you’ve made good use of that for your budgeting, then kudos to you!) And to be honest I haven’t felt the other side of increasing inflation yet. Other than Dakasi Charcoal Roasted Milk Tea with Chocolate pudding now costs Php120. ☹ I’d have to stick to Chatime Pearl Milk Tea then since it seems they haven’t adjusted their prices yet.
Looming stock market crash. So the stock market has been in all-time highs and people all over the world are speculating a timely recession soon. The PSEi in fact has reached the 9,000 level for probably a day at the end of January before triggering a massive sellout thereafter. I kinda regret not trusting my instincts to redeem my mutual fund shares back then too. Now the market is down and has not recovered yet. Oh well. Timing is a b. Haha! So lesson is, you must be sure you’re there for the long run! Uh-huh.
EMV cards. Banks have rolled out EMV cards so free replacement – yey! I really haven’t checked what’s the main improvement from this shift. But I know this wouldn’t require swiping your credit card now, right? Makes it less susceptible to breaking.
What else did I miss?
So that’s all for now probably. My, I pray to be back at least next month, if not sooner, for you guys. I hope all is well and running smoothly for you. Although I haven’t really posted here for the past months, I’m still tracking my net worth offline. Times have been tough and there were some months when I totally forgot to do it on the first day and just caught up when I remembered. But I hope that for those who do, you’ve been consistent at it as well.
Since I was also not here to celebrate the third anniversary of me tracking my net worth, (I started Jan 2015) just sharing to you how it’s been growing for the past three years.