It's accountability time!
I have to admit though that I actually look forward to tracking my net worth every quarter. It's nice to see my debts get smaller and smaller every time I check on them. My assets may not be growing as much and as fast as I would like them to, but that's ok because I know that the priority now is to get rid of the personal debts ASAP. Then once only mortgage debt remains, I can focus my attention on savings and investments.
Unlike the second quarter's Php190,136.40 net worth increase, the third quarter only brought with it a Php102,074.00 increase. This was mostly in part because I had to take out a personal loan to bridge our budget gap, but then a few weeks later, my brother surprised me by paying off his entire debt with me. Sayang, because I could have avoided the personal loan altogether if he had just told me that he planned on making an early payment.
The loan payment was supposed to go to savings, but then my mother, who promised to shoulder her sister's loan to us for my husband's operation, suddenly backed out and wanted me to pay her sister instead. So I called in my mother's own running debt with me, as I'm the one paying off my dad's restructured credit card debt, and offset that with what my husband and I owed my aunt. Thus, I just had to pay off half of the loan and I used a portion of my brother's loan payment for that.
Was everyone able to follow that? Believe me when I say that I tried to simplify it because there are still some tangents to that story that I no longer wrote down here. Aren't family financial issues so interesting with how convoluted they can get?
Anyhoo, that's why the last quarter's net worth increase was substantially lower than the second quarter's. I was bummed at the minimal increase, but then I suddenly remembered how my net worth would only register a 5 digit increase when I first started computing for it a few years ago and how I dreamed of having a 6 digit increase with my future net worth check-ins. Now here I was regularly hitting 6 digit increases, and I was sad?! Ang OA lang.
Note to self:
This doesn't only apply to net worth increases, but to most things in my life. I remember when I would get anxious and question if I would ever have a child because we've been married for one whole year and I still wasn't pregnant. As I said, ang OA lang.
Now, we have two boys and while I haven't had a full 8 hours of uninterrupted sleep ever since my second son was born, I embrace the tiredness and messiness because I prayed for these boys and will gladly take every spit-up and poopy diaper they churn out.
Even my career in the judiciary seemed unattainable to me back in the days. I was reminded of this with a recent conversation with my law school seatmate who commented that it was funny that I was now working in the Supreme Court and working for our terror prof to boot, when I vowed practically every single day back in my first year in law school that I would quit and I would get panic attacks every time our terror prof/my boss would call on me. But look at me now, helping craft decisions that a new crop of terror professors will assign to their own wide-eyed and knock-kneed students. Life sure is strange.
This is why I need to constantly remind myself to celebrate how far I've gotten in my financial journey, instead of obsessing over my missed targets. I keep on focusing on how tiny my steps are and gloss over the fact that it's exactly those tiny steps that have helped get me and my family to where we are now: current with bills and just a few months shy until our consumer debts are fully paid off.
And with that, I am celebrating my emergency fund's official appearance in my assets chart. I've always had emergency funds/ savings, but they've been so miniscule compared to the other assets, specially the condominium units, that they've never registered in the assets chart. Until now that is:
Hello 1%! My fearless prediction is at least a 100% increase in savings with my next net worth check-in.
Before ending this post, let me go off-topic and announce that I still have a few tickets left to the PIFA half-day event on November 24, 2018.
If you want a ticket, simply send me an email at email@example.com. Place “PIFA investment series” as the email subject. Also indicate your name, contact number and address in the email.
And that's that. Blessings and abundance to us all!