Mid Year Net Worth Report

I honestly dreaded calculating for my mid-year net worth because with everything that's happened, I was afraid of what the figures would show. Let's recap. 

Remember the next door condo unit that we were thinking of getting, and then decided not to anymore? After all the hemming and hawing, we ended up buying it after all. Now we are the proud owners of adjacent 30sqm condo units. However, in order to pay off my brother (the condo's previous owner), I had to drain our emergency funds AND take out a loan from my parents. So while my real estate assets doubled, my real estate related liabilities also doubled plus I also incurred some hefty personal loans. But on the bright side, the personal loan is from the Bank of Mom and Dad where the payment term is pay when able ;-)

The bottomline is that my net worth grew by 14.47% from the first quarter of this year (mostly brought on by the new condo unit), however, my liabilities (mortgage + personal loans) almost tripled. 

As already mentioned above, my savings took a big hit because of the condo purchase, it is now a piddling 12% of what it used to earlier this year. 

I'm happy to report though that my stocks really rallied, gaining a tumbling-worthy 26% from its value during the first quarter. Take note too that I didn't add any capital to my stash, I just sold when my profits reached at least 25% and dumped my earnings into FPH which is still still in the red for me, but is ever so slowly clawing its way back up.

My FAMI-SALEF account isn't doing as well as I hoped it would though, because in the two years or so that I've been doing cost averaging with FAMI-SALEF, my returns are barely Php2,000. Not good at all. But my Sun Life balanced funds are a revelation, considering that I only top up 4x in a year. In the three years that I've had my account, my money has grown by 15%, not bad. 

Here's the breakdown of my assets as of June 30, 2014: 

My assets are so real estate heavy that it's really scary. Talk about being not liquid :(

Right now, my main goal is to bring up our emergency funds to at least a month's worth of expenses before we start on joining the two condo units and renovating the kitchen. I have already allotted my September bonus for condo constructions, so all our extra cash will be funnelled towards paying off my brother and building up our emergency funds. The goal is to have 2-3 months worth of expenses banked before the year ends.

Can you believe how fast this year is whizzing by? Before you know it, it will be December once again! Ack.

* Read my first quarter net worth report here.


  1. Why? Bakit ganun ang nangyayari sa FAMI SALEF mo?

    1. Lackluster yung fund performance this year. As in halos walang movement. Pbbbbt.

  2. Noting that such a substantial amount of your net worth is condo unit/s, I'm curious about what you think about investing in a condo/real estate. Wondering if you've done a post about it already here. If not, would just like to get your thoughts on why you've invested in a condo and how you think it's better than, say, holding out for a house and lot or, what about just renting and investing your money in high yield investment funds? Is your condo on loan? Thanks so much Frugal Honey!

    1. I didn't buy our condo units as investments because the fact that we're living in them makes them poor investments. The property value does appreciate through the years, but if I wanted to sell them to make a profit I would have to: 1) find a buyer; 2) pay the taxes and commissions (if I found the buyer through a broker; and 3) find another place to live in. After all that, whatever gains I might have had through the increase in property value would have probably been wiped out and I'd be back at square one or even be in the red.

      Bottomline is, for me if you're thinking of investing in real estate, make sure that it will generate income for you by renting it out or by flipping it. If you're going to live in it, then it is not an investment, even if your broker says otherwise.

    2. And I chose a condo over a house and lot because it was what we could afford at that time. The dream is to have our own house and lot in the next five years, since my husband loves to restore motorbikes and wants to have a garage to store his projects in. I plan to sell one of the condos and convert the other one into a boarding house for students from the nearby school. With that plan of being a landlady, then I can really say that my condo unit is an investment.


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