Frugal Honey

My Financial Journey

Thank you Moneymax!

I received fantastic news the other day that this blog was included in Moneymax’ Top 10 financial bloggers to follow in 2019. Awesome!

For the new readers who reached this blog through the Moneymax article, welcome and feel free to browse through my past posts. You can go chronological by going through the posts monthly or by categories, the links for those can be found on the right column.

I’m glad that you found my blog because that means you’re interested, or at the very least curious, about personal finance and are probably trying to better your own personal finance. We’re all in the same boat.

I can’t guarantee that reading this blog will magically make you a personal finance ninja, but at the very least, you will know that you’re in a safe space where you won’t feel ashamed for talking about money or what you don’t know about money. More on this in a future post because the husband and I have a date at our most favorite place in the world, the grocery. Catch you all later!

Looking Back and Moving Forward

In line with the annual essay writing contest in time for the new year, I also began to reflect on the year that just passed, but for the life of me, I couldn’t remember half of what happened or how I felt about the events of 2018.

A quick browse through my Instagram account reminded me of how eventful 2018 actually was. To recap, 2018 was when

  • I finished the second month of my maternity leave;
  • I got to know my second son and reacquainted myself with the joys and challenges of mothering an infant;
  • I had my face-palm interview with the Judicial and Bar Council (although to be kind to myself, it must not have been all that bad since I did get shortlisted for a position);
  • my husband had an angioplasty;
  • we almost lost my parents’ house;
  • my sister went back to New Zealand and her family followed a few months after;
  • my mom sold a property which netted her several millions and then spent/gave/lent most of it in a span of 1 month;
  • my new niece was born ( lucky number 13);
  • I lugged my baby to Bacolod and Cebu just because he was the chillest baby ever (sadly, he’s not so chill anymore and he’s morphing into a little diva);
  • my baby turned a year old; and
  • we spent the holidays in Biliran and I got to spend time with my in-laws and US based cousins.

In between that was work, time spent with family and Netflix.

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2018 3Q Net Worth Report

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.

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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.

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