This post has long been overdue. Nevertheless, I am going to trace my networth for the 2nd quarter of 2017 to find out how I fare financially. This is Mom Finance Blog Networth – 2nd quarter 2017.
Mom Finance Blog Networth – 2nd Quarter 2017
Looking into my networth is exciting. I will be able to look into my finances in black and white fashion. I will have a chance to dig deep into my financial life and find ways on improving it.
So, take it away, 2nd quarter of 2017:
Personal Property
House and lot = P800,000
Savings and Investments
Savings Account #1 = P90,000
Savings Account #2 = P20,000
Educational fund = P26,700
Emergency Fund = P7,000
Paper Assets = P12,000
Liabilities
Debt = 159, 641.88
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NETWORTH = 796, 058.12 ($15, 921. 16 @ $1=P50)
Key takeaways:
- My previous networth is at P744, 633.96 ($14,892.68 @ $1=P50). For the 2nd quarter, my networth grow by 6.9%.
- Setting goals is making me move positively, financially. I believe that I have achieved more by setting financial goals because I become more conscious of my spending. I see to it that I reach my target goals. As one of my professors said,
Aim for the stars. If you don’t get to the stars, at least, you reach the moon”
- Focus is important. Constancy to purpose and intense focus on the goals is one way to increase one’s net worth.
Final Thoughts
I have yet to establish some cash flow streams that constantly flow aside from my active income. I need to increase my income trough sideline gigs in order to increase my investment funds and debt payments.
I am happy to report that my networth is moving up to the positive direction. However, I am far from getting the financial freedom phase of my financial life simply because I just have started investing. I am now in the phase where I am still laying the foundations of my financial life. If I were to dissect my net worth, I still have a long way to go. But I celebrate small wins and dance my way towards FI.
