Frugal Honey

My Financial Journey

2018 2Q Net Worth Report

Hmm… I just realized that I forgot to post a net worth report for the first quarter of 2018. For a quick recap, my last net worth report was for 4Q of 2017. For 1Q of 2018, my net worth went down because of expenses brought about by my husband’s heart operation .

Mercifully, there were no more health issues these past three months which meant that I could focus on debt payment and building up savings.

The past three months also brought with it a handful of bonuses so there was no need to take out loans and I was even able to bank a small amount in my emergency funds. However, the next three months will be the lean months with nary a bonus coming in, so double gulp.

Back to my net worth report for 2Q of 2018.

There was a minimal increase in assets, around 40k, because my Sunlife mutual funds and individual stocks were affected by the plummeting stock index. However, while my assets may not have increased as much as I would have liked, I was very happy with the almost 150k decrease in my liabilities. Debt payment is really where my money is going for now.

Starting September, my debt payments will start to get smaller because I would have finished paying off one credit card loan by then, with another loan to be fully paid off by November and all of my personal debts going kaput by March next year! Hooray!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

So while the stock market and her many discounts are tempting me like an ice cream cone on a hot and humid summer day, I resist the urge to top up my account and buy-buy-buy because being debt-free is more important to me now than adding to my (meager) investments. I have learned the hard way that taking on “three tiers” at a time is a foolish thing to do. One step at a time is the way to go, with taking on a half step also acceptable in some instances.

My asset allocation is still very skewed towards real estate and I don’t think it will change any time soon because debt repayment is the priority and not building up assets:

That’s it for now. Until the next net worth update! Here’s hoping that the fates continue to be kind.

2017 4Q Net Worth Report

The last net worth update I made was for the second quarter of 2016, after which I deliberately did not do any more net worth updates because I wanted to focus on slaying my consumer debts. Also, computing my net worth was starting to frustrate me as my net worth kept on going down due to my debt reduction efforts (read: I was selling assets or taking out loans to pay existing debts).

But now that my consumer debts are under control and on their way to Deathville, I was ready to face the music and spent the last few days of 2017 calculating my net worth. Just as I suspected, my net worth went way down from 2016. Here are the reasons why my net worth went south:


Following the Hierarchy of Financial Needs

There was a time I had about 3 months worth of expenses in my savings account, I was steadily buying stocks, and would go on regular trips, both local and abroad, with my family and friends.

I recently reminisced about those happy, flush days while I filled out another stock withdrawal form and I couldn’t help but ask: “How did it all go downhill? Where did I go wrong?”

And the answer was simple, I tried to do too much too soon.

If I had only seen this financial needs pyramid from Boomer & Echo 2-3 years ago, I bet I would have been smarter with my financial decisions. Or so I tell myself 🙂


My Future Foretold

Whenever I pass through the Padre Faura gate, I usually walk past this man in a white collared, short sleeved shirt tucked neatly in his pants. Sometimes he would be reading a newspaper or smoking a cigarette but he would always be stationed near a small table with two stools and an electric motorbike.

His name is Maestro Geno Ginintuan and he’s as much a landmark of Padre Faura as the Supreme Court, UP Manila and the Department of Justice.

After almost a year of walking by him, I finally gave in to my curiosity and plopped myself down on his stool. Some quick chatting revealed that he’s been at his post, rain or shine, for the last 20 or 30 years. He gets an average of 50-70 clients per day and he charges Php50 per client. He claims that his predictions and readings are 100% accurate. Even President Duterte has called him over to Malacanang for a personal reading, and he has regular clients who seek him out before making any important decisions.

Now for the good stuff. Let’s talk about his predictions for me.

He first asked me for my birthday and wrote it down on his notepad.


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