Net Worth

August 2020 Net Worth

August Net Worth 2020
Posted by mycentsofwealth

Every month I look forward to the day I update my net worth. I get so giddy and excited knowing how much I have or how much I owe. If you are not yet familiar with what net worth is, it means everything you own (assets) minus everything you owe (liabilities). To do this, first list down everything you have and give values to it then subtract it by whatever you owe. The amount after that is your net worth. To monitor my net worth, I use this format from savingspinay.ph. I have been using this format since the start of 2019. 

Here’s a little bit of context about myself. I’m single, no kids, but I have a BF that I share the same financial goals with. We do not share our money or accounts. This net worth is entirely my own. I have been working since I was 19, two months after I graduated from college. I am the main breadwinner right after college (my father is not in the picture). About half of everything I have ever earned went to my family. If I wasn’t a breadwinner, would I have this much money by now? No, I don’t think so. My family and my circle of friends don’t really talk about money so there was nobody that could have guided me in managing my money. If anything, I could have probably spent my money on a lot of mindless things if I wasn’t supporting my family. Took me a while to accept that but I’m okay now. My sister graduated and got a job last year so that one less expense to think of. Because of that, I was able to save more this year. I live away from my family so I pay for rent and utilities and for my own food. 

Here’s a breakdown of my end of August 2020 net worth. Well, it’s not really “the end of August 2020” net worth because I waited for my investment to come in on Tuesday (Sept 8) but still want to reflect it under August because I earned that money in August. So whatever.  Lol.

 

August Net Worth 2020

 

My end of year 2020 net worth goal is P200,000.00 and I am still positive I will be able to achieve this. 

 

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11 thoughts on “August 2020 Net Worth

  1. Mr. Triple P

    Congrats. Keep on investing J! Maybe you could also ask Izza of savingspinay to log her net worth in Nat’s list! :))))))

    1. mycentsofwealth

      Good idea. I’ll DM her. Char, DM. Close? haha

      1. Triple P

        Haha she joined!!!!! Ang lakas mo naman sakanya! Apir!

  2. Nat

    Congrats on the net worth increase!!🎉🎉🎉 You will totally be able to make it at the rate you are going! Good luck!

    1. mycentsofwealth

      Thank you. Btw, I asked Ms. Issa of savingspinay.ph to check your Pinoy Net Worth List recommended by Triple P. hehe

  3. Maven

    Tama naman that you earned it and it should be part of that month’s net worth. Haha! I also can’t help but look back at everything I’ve spent for my family and think that that amount could afford me an even more comfortable life at this point. But I totally agree with you that I also feel like if not for them, I might not have been as responsible as I am with my money today. Hehehe. Regardless, I guess the point is to be grateful in whatever circumstance we’re in. Go for that P200k and I wish you well, J! 😉

    1. mycentsofwealth

      What’s the use of our money if we can’t make our family happy di ba? Thank you, Maven!

      1. Che

        True!!!

        1. mycentsofwealth

          yessss

  4. George@20somethinglawyer

    So happy to see more people tracking their numbers! I recall my early days of tracking my net worth. Like you, my net worth was still in the six figures. A million was just a dream.

    There is power in putting your dreams and goals out there and setting a number on it. Personally, I felt hugely accountable before an Internet audience and worked hard to keep spending in check. Hope tracking your net worth does the same for you J!

    1. mycentsofwealth

      Being on the Internet definitely helps me become accountable! Thank you.

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