February 2020 Net Worth Update
The reason why I do net worth updates is to stay accountable with my finances. I publish my real numbers as it is with the mission to continue bridge the financial literacy gap for Filipinos one content at a time. I hope you enjoy today’s post.
The month of February 2020 flew by too quickly. Even though we have an extra day because of the Leap Year it still went by too fast.
We are now in the third month of the year.
Coronavirus or nCov continues to strike the world. According to the World Health Organization, Coronaviruses (CoV) are a large family of viruses that cause illnesses ranging from the common cold to more severe diseases.
Its death toll number is devastating. And even the recent cases in the Philippines.
On a personal note, February was filled with church events. You can go to my personal blog for more inside story.
February 2020 Blog Updates and Highlights
I like to start by thanking everyone who has been following SavingsPinay on Instagram. Thank you for being supportive.
We now have 94 followers already. Thank you so much.
I’ve not been as active blogging this February. Unlike last month when I published six (6) blog posts, I was able to wrap up only three (3) blog posts this month.
And in case you missed any of my posts for February 2020, here they are:
February 2020 Blog Income Breakdown
I was able to cash out my $100 Google Adsense payout. The total amount I got in pesos is Php 5230.00. This is added in my extra income fund.
Aside from Google Adsense, I don’t have any means of side hustle income active yet for 2020. My goal of launching a podcast is still in progress and I’m hoping I can do it within the target.
I did, however, bring my old books to an Instagram book shop @cyreadsph. For every old book sold, I get 60% of sales. The sales will directly be deposited in my BPI account and added to my opportunity fund/extra income fund.
Cy reported that she transferred Php 312.00 for the sold books. I still have some of my old books for sale on her account if you want to check.
February 2020 Goals
I posted my 2020 goals not long ago and something I learned to be very effective in life is the power of measuring your progress.
Excited to share with you how I’ve been moving in terms of my goals for 2020.
End 2020 with Php 500,000 net worth
In 2019, even though my salary didn’t move at all, I was able to save and invest Php 100,000. This led me to ending in the Php 250,000 mark in 2019.
For 2020, I made an ambitious goal and that is to end with Php 500,000 net worth.
The reason I made that goal is because I am believing for a career breakthrough of promotion this 2020 which already happened!
Yes! I got the promotion I prayed and hoped for for the last three years. Hooray! God is good.
With additional salary, I believe this goal is not too far from reality. Of course, I should still couple it with frugality and intentional spending.
Save Php 60,000 Emergency Fund
This has been a long recurring goal since I started this blog. I have no words. I started investing my money early and I do have good benefits from the company so I became hard headed in this area. I am still contributing Php 2,000 every month to this and automatically adding the cash benefits I receive such as holiday pay, medical allowance, etc.
Max-out Php 48,000 invested in Funds
I have been investing since I was 19. It was the most daring financial move I did, but one I will never regret.
Definitely thankful I started to make my money work for me early.
Same as last year, the target money I am committing to investments is Php 48,000. My saving and investing rate is still at 30%.
Do Spavings and record it
I first heard about the term Spavings from Budgets Are Sexy.
To put it briefly, spavings is a combination of “spending + saving”. Sometimes we get unexpected discounts or savings from our purchases. With spavings, you are required to save the amount you saved instead of putting it back to spend mode.
For February 2020, I was able to “spave” Php 80 on a Starbucks Coffee using a coupon. The current spavings at the moment is Php 1440.00
Do the 1% Money Saving Challenge
I’ve blogged about the 1% Money Saving Challenge before and will try to complete this year. I am looking forward to another vacation on my birthday so I’m hoping this could be the very fund for it. For
February 2020, I added Php 400 for the Travel Fund. 10 more months to go.
Get a promotion
The completion of this goal is totally out of my control. But I am definitely praying for it to happen soon. DONE, effective February 2020.
Read 20 books
In February 2020, I only read and finished one book. I am now one book delayed from my 2020 Reading Challenge. I am sharing updates of the books I read in my personal blog, www.izzaglinofull.com.
Blog and Business Goals
Launch SavingsPinay Podcast
One of my big projects for 2020 is to launch my own podcast. A lot of readers have been sending this request over and I thought it would be nice for me to relive as well my dreams of becoming a DJ.
I am hoping to make it available on or before March 2020.
Blog 100 Times
Last year, I was missing-in-action on the blog. I never really made an effort to write and publish a new post every week. I got caught up with my new role at work that I slowly turned to the “I’m busy” card instead of pushing myself.
For February, I got caught up attending shoots on Saturdays and was only able to publish three (3) posts.
52 YouTube Videos
For February 2020, I started doing live videos on my Facebook Page. I now plan to upload the videos on YouTube and start publishing new videos every Tuesday! I already have two videos as backlog for editing. Yey!
The outbreak has yet to settle down so I don’t think this is possible anytime soon. Not even in the first quarter of 2020. Hopefully, I will have people in my circle arrange one.
February 2020 Net Worth Update
The first thing you will notice in my February 2020 Net Worth Update is that the receivables became less. My brother made a Php 20,000 payment so I moved the amount to my Emergency Fund right away.
So, that’s the reason why I am soooo close to my Emergency Fund goal already.
My investments are leaking from every side. The market went downhill and has entered the bear level. Sad!!! But I am a long term investor and I still believe that the market will recover.
Sharing this image just to remind myself (and you reading this who are investing as well) that the market will always go up. The chart doesn't lie! It’s a matter of patience and persistence in the midst of volatility.
In case you are interested to invest here are the posts I’ve made about the different investment vehicles available in the Philippines:
I am still hopeful that 2020 will be a better year. As for me, I choose to stay invested no matter what. I just follow my investment strategy, Peso-Cost Average since I don't need the money any time soon.
Next Month’s Plan
For March 2020, I do not have any planned expenses. I will also try to stay away from activities on weekend that will make me spend money.
Last month, one of my goals was to have a No-Spend Month BUT… this is a big FAIL because I bought books during the Big Bad Wolf Books Sale. But still happy that I keep on getting better in handling my day-to-day expenses. Sobrang nakakapag bawas na ko sa lunch expenses.
Last Month’s Goal:
Use my budget consistently
Track my expenses Do a no spend February
Save on commute (max. Php 320 | min. Php 250)
Finish reading Your Money or Your Life
Make progress on the SavingsPinay Podcast
Money Goals this Month:
- Track my expenses
- Save on commute (max 320/min 250)
- Finish reading Your Money or Your Life Do
- FB Live 4x
- Publish new YouTube video
- Achieve a No-Spend March
Final Notes from SavingsPinay
Before I end this post I like to quickly share to you the promotion I received. I got a major salary increase. I say major because typically you will only receive 10% but I got way more than that.
For now, I am still living and budgeting my money as if I didn’t get any pay raise.
All the excess money is technically parked in my salary account. I will share an update as soon as I figure out what to do with this unexpected blessing.
That’s it for February 2020.
How’s your finances for February 2020?
Izza of SavingsPinay helps Filipinos bridge the financial literacy gap one content at a time by providing insights and tips on budgeting, saving, investing, side hustle and growing your net worth. Aside from this blog she also writes at www.izzaglinofull.com, a beauty and lifestyle blog for frugal Pinays and manages, www.izzagevents.com, a wedding and event business since 2011. For inquiries, topic suggestions or future collaborations email her at firstname.lastname@example.org