Last Updated on September 6, 2022 by Izza of SavingsPinayPH
Hi everyone!
Wow, it’s been a long time since I last posted here on the blog. If you follow me on Instagram you’ll know how 2022 has been for me. I marked it as a year of transitions and big decisions so far.
A lot has happened since the year began and I made some life changing decisions that have a direct effect on my finances. More about these below.
Before I start the rest of today’s post let me first thank you for your support. Ever since I started SavingsPinay my life and my finances have been an open book for you. I’ve shared my money map, my monthly budget, and my monthly net worth updates in the hope that I could inspire others on their journey to financial freedom.
I hope you still find value in reading SavingsPinay. I will do my best to share more posts soon and stop from being missing in action.
Now let’s begin with the life and money update, shall we?
2022 Life Updates
The first half of 2022 is all about transitions and big decisions for me. I wish I could share with you all of the changes that took place in my life but I like to keep some things private. What’s important now is I’ve sorted some things out and I’m ready to commit again to blogging.
You can also visit my personal blog where I shared a 2022 Mid-Year Life Update focused on my personal life, habits, routines, etc.
So here are some major life updates I can share:
- New job – Whew! Let’s start with the biggest news, I have a new job! After five years, I resigned from my previous post and is now working for an Arizona based virtual agency as a Digital Marketing Specialist. I am blessed with my new role as I get to train aspiring virtual assistants about social media (you know I love speaking in public or doing webinars!) plus practice all I know in digital marketing. I am now working from home permanently and earning dollars (Waaahhh!!!!) Thus, a big change as well on how I budget my money. I’ve only been working full-time for a month so I’m just embracing all the changes. I am learning as I go.
- Side hustles are doing pretty well – I am still working with the long-term client I have and giving me quite stable monthly extra income. Additionally, I’ve been contracted to a five-session webinar for a company which is awesome! I also hope the other company who asked me for the same multi-episode webinars will be pushed through.
- Pilipino Star Ngayon FB Live guesting – Last August 12, I was privileged to be part of a panel and got interviewed by none other than Sir Chinkee Tan. It was for Pilipino Star Ngayon’s Wais sa Buhay series. You can watch the recorded FB Live here.
As mentioned earlier, I am learning as I go on with my life. Working on a graveyard shift is extremely new to me. I thought I’ll be able to adjust fully in less than a week but wow, it’s harder than I thought. I don’t know why even though I get a lot more sleep now (6 to 7 hours daily), I still feel sleepy! But, we’ll get through it.
Now let’s talk about some money updates.
2022 Financial Goals
I wasn’t able to do a blog post for the financial goals I have this year. However, you can watch my 2021 Year End review video below where I enumerated the financial goals I have for 2022:
To recap, here are my financial goals for the year:
- End 2022 at Php 850,000 Net Worth
- Save and Invest 45% of my Salary
- Finish my 2022 Personal Sinking Fund
- Finish my 2022 Business Sinking Fund
- Grow Side Hustle Income at Php 250,000 Net
- Open a New Investment vehicle
I also listed my Blog and Business and Personal goals as follows:
- Upload 52 YouTube Videos
- Blog 100 times
- Release 3 Paid Products
- Continue Season 2 Podcast (10 Episodes)
Now let’s take a look at the progress I made for the first eight months of 2022.
Goal 1. End 2022 at Php 850,000 Net Worth
For 2022, my number one financial goal is to end the year at Php 850,000 net worth. I started the year at Php 570,965.72 and at the moment my net worth is nearing Php 650,000.
With the new job giving me almost double the income of what I had before I feel confident I’ll hit the goal. However, I have a major expense this September for my Mom’s operation that I need to reserve money for. There is a slight chance I won’t hit the goal this year.
I think for me as long as I remain more than last year’s net worth I’ll be happy. Knowing my money is going mostly to my savings and investments is more than enough.
Goal 2. Save and Invest 45% of my Salary
From my previous job I’ve been religiously following the new saving and investing rate of 45%. Here are the current allocation of my savings and investments:
- Savings Account
- GSave savings
- Equity Fund
- Index Fund
- ETF
- Feeder Fund
Because I am earning dollars in the new job, I now doubled my income. So I won’t get confused, what I’m currently doing is living only with my first paycheck. That’s the only income I budget for the month on my needs, savings and investments, as well as wants. My second paycheck goes to my sinking fund and additional savings on my emergency fund. For both paychecks, I still put 10% on tithes too.
You can say that because of the new job I am able to save and invest way more and I’m grateful for that.
Goal 3. Finish my 2022 Sinking Funds
I have two different lists for my sinking funds – Blog and Business and Personal Sinking Funds.
For Blog and Business Sinking Funds, I am saving up on the following:
- Canva Pro subscription renewal
- Domain and Hosting
For Personal Sinking Funds, I am saving up on the following:
- My pamangkin’s 1st birthday
- Gift fund
- Insurance Renewal
- Christmas 2022
I am through the fund for my pamangkin’s 1st birthday and I’m happy to be able to help in her birthday celebration. The rest of my personal sinking fund is doing pretty well too. I’ve already used some of the gift fund for my elder sister and her significant other’s gifts. I’ll be using the fund again for my cousin’s birthday this September.
The Domain and Hosting happened already last July while the Canva Pro subscription will be due this September too.
Goal 4. Grow Side Hustle Income at Php 250,000 Net
In my 2021 Side Hustle Income Report, I got to almost Php 148,042.55 net income thanks to the long term consultancy client, paid webinars, sponsored posts, money coaching, Google Adsense and The Budget Template Notepad.
For 2022, my goal is to increase my side hustle income to Php 250,000. With the incoming money I’ll be getting from my long-term consultancy client and the paid webinar series, I’m hopeful I’ll be able to reach the goal.
Goal 5. Open a New Investment vehicle
I’ll be ditching this goal as I don’t think I’ll open a new investment vehicle this year. My main focus is to increase my emergency fund instead.
Goal 6. Upload 52 YouTube Videos
No new YouTube videos at all for 2022 and I think I won’t be able to upload one until October as I’m currently staying with my eldest sister. I think the new goal now is just to upload at least four new YouTube videos before the year ends.
Goal 7. Blog 100 times
I’ve been missing in action for most parts of 2022 and there is no chance I’ll be able to blog 100 times. Same with the YouTube videos, the best I can do for now is ensure I’ll be able to publish new blog posts. Be active again.
Goal 8. Release 3 Paid Products
This is another project that I’ve been procrastinating to accomplish for almost a year now. With the new schedule that allows me to have my afternoons at my disposal, I am looking forward to making massive progress or much better, accomplishing this goal. Visit my Shopee shop.
Goal 9. Continue Season 2 Podcast (10 Episodes)
Yet another project that I need to put emphasis on is my season 2 of The SavingsPinay Podcast. I released the very first episode earlier this year but failed to follow through with the succeeding episodes. I need to give this time and launch the rest of the episodes before the year ends.
Final Notes from SavingsPinay
That’s it for my 2022 life and money update. I hope you found this post helpful.
How’s your life and finances so far in 2022?
