After crunching the numbers for last quarter's net worth report, all I can say is: "UGH!!!"
Ladies and gentlemen, my net worth went down :( :( :(
It's not all bad news though, since my liabilities also decreased by about 80k as I've been paying extra on my Pag-Ibig mortgages and have also been steadily chipping away at my debt with my parents.
The decrease in my net worth can be explained as follows:
1) The second quarter saw an abnormal jump in savings after I received my backpay and bonuses;
2) Save for the money I invested in index funds, my investments saw no increase and even posted a tiny decrease; and
3) Condo construction expenses meant less money was directed towards savings and investments.
For this quarter, the goal is to recover lost ground and surpass the second quarter's net worth. With condo constructions finally ending in a few weeks, I do believe that the above goal is not a mere pipe dream. I'll have to hold off buying a couch though, that will have to wait until next year. Same with any travel plans for the remainder of the year. It's time to buckle down and rebuild my net worth.
When it comes to asset allocation, I am still very illiquid with condos taking up 79% of my asset base, sadly, it was already down to 76% last quarter. Hopefully, I can bring it down to no more than 75% with my next net worth report.
Okidoki, I intend to enjoy my free day so I'm off to bring the boys to school and then it's off to the salon after that where I'll be getting a much needed haircut. Catch you all later!