It’s been a while.
A volcano exploded and a pandemic hit the world since I last posted my net worth. I am fortunate that everyone in my family is healthy. I feel privileged for still having a job and for being able to work from home.
This pandemic is forcing me to re-think my life and financial goals. The thought of that overwhelms me. I’ll just start by knowing where I stand.
I hope I would be consistent in sharing my net worth every 14th of the month (a day before my pay day). I think this would give me a better picture of my financial position.
Net Worth Update
14 JULY 2020
|Cash (In Bank)||||155,369.75|
|Cash (On Hand)||||1,400.00|
(List Price less Loan / 2)
|– Equity Fund||11,603.88|||
as of 07-JULY-2020
My net worth increased by Php 249,099.86 (34%) since November 2019.
Cash and Investments (PHP 188,183.52)
I said I would keep Php 10,000 at home for emergencies, but right now I’m almost running out of on-hand cash. I’m trying to stay at home as much as I can, but when I get the chance, I’ll withdraw money and keep Php 50,000 at home.
Condo (PHP 758,867.50)
My mortgage obligation is what I am most anxious about if I lose my job. Currently, my savings could last us 3-4 months (if my husband also loses his job and I had no access to his accounts).
I’m thinking of increasing my emergency fund to 6 months worth of expenses.
My husband also has an emergency fund in case both of us lose our jobs (our finances are entirely separate at the moment). I think it’s time for us to consolidate a percentage of our finances.
I paid off my PHP 82,587.52 personal loan earlier this year!
The PHP 5,635.78 credit card debt consists of current charges which I intend to pay in full once I’m billed.
I am so relieved I no longer have consumer debt when the pandemic hit.
Where do I go from here?
At the moment, I just want to save as much as I can. I haven’t come up with specific amounts yet, but I have to save/prepare for the following:
- Emergency fund
– 6 months worth of expenses
- Possible hospitalization costs
– for my parents who are both seniors (they don’t have health insurance).
- My younger sibling’s college education
I couldn’t make any other plans. I feel helpless and I have so many questions. Should we still have children? Should we leave the country when things settle down? I don’t want to leave the country without the rest of my family, but if I decide to emigrate, how do I start?