Net Worth – July 14, 2020

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

ASSETSSub-totalTOTAL
Cash (In Bank)155,369.75
Cash (On Hand)1,400.00
Condo
(List Price less Loan / 2)
758,867.50
Investments31,413.77
– Stocks19,809.89
– Equity Fund11,603.88
LIABILITIES(5,635.78)
Credit Card(5,635.78)
Personal Loan
NET WORTH
as of 07-JULY-2020
PHP 941,415.24

My net worth increased by Php 249,099.86 (34%) since November 2019.

Assets

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.

Liabilities

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?

8 thoughts on “Net Worth – July 14, 2020”

  1. I feel your frustration with everything going on. Hopefully though, you and your family decide to stay in the Philippines. Our country needs us. Lol. On the other hand, there is no harm in making money abroad as long as you invest it back in the PH.

    You’re doing great on your net worth by the way. Hope you keep writing!

    1. Thank you so much!

      On leaving, it’s not so much the money. It’ll be funny to say this, considering that I made a personal finance blog, but I don’t have dreams of becoming rich, haha. Leaving just seems like a convenient shortcut for better quality of life. Right now, it’s more likely that I’ll be staying. I can’t leave my parents here.

  2. Dropping by from Nat’s Pinoy Net Worth List. 🙂 Take it one step at a time! It is a unique period of so many uncertainties. And I guess the lesson for all of us is to be more prepared in the future. But since we’re here, let’s inch towards what we have to do slowly but surely. 😉 I hope you and your family are safe!

    1. thank you!!! i just feel really grateful that i decided to pay off the personal loan and credit card debt in January and worked on my emergency fund asap. i hope you and your loved ones are safe too!

  3. Pingback: Net Worth – August 14, 2020 - Chill With Money

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