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