October 8, 2015

Money Goals Update: Failed Emergency Fund

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It was a very long time since I've had the updates on my Money Goals. Well how was I? The past month was unmanageable because of some expenses that I needed to pay. I spent almost half of my emergency fund to pay for my final Cervical Cancer Vaccine that piled up because I didn't follow the payment of per cutoff monthly. Tsk Tsk Tsk! But the good thing is I'm done with it! Whew! That is a relief and I can't believe that I was able to shell out an amount of 12,000 pesos! Well I still need to pay 3,000 pesos. What to do next is to continue my savings for the Emergency Fund and will try to double it up. I need to discipline myself once again on my spending habits. 

So here's my update so far:
  • Sunlife VUL - I transferred my Fund from Peso Balanced Fund to Growth Plus Fund so I am investing on stocks 100%. Tapang! I decided to transfer my fund because this is long term anyway. I will not need the money anytime in the future as long as I am completing my emergency fund.
  • BDO Equity Fund - I started last August 2015 and I am on my 3rd month now. I invested mostly on BDO Equity Fund on EIP. Again this is for long term, I only invested a small amount monthly which is deducted automatically.
  • Emergency Fund - As I mentioned, I spent almost half of my emergency fund to pay for my Cervical Vaccine shot. In addition, I got the money here to lock our property in Cavite. You can see from my previous post that our neighbor put trash items inside our townhouse so we need to secure it. We are still saving for the construction bond and building permit which is so costly. Not to mention the construction costs that we also need to shoulder for the extension of our townhouse. Another expenses is for our tricycle's maintenance. My partner is already driving it for service of some of the students in our area for extra income. Though I was not able to complete this fund yet, I was really glad that I have funds to use for this kind of expenses. So I will start again this month and try to buy nothing before the start of December. 
  • Savings Account - I am still consistent on depositing money every payday for the twins' Junior Savers Account. 
  • Selling Crochet Items - I sold some crochet ear pads and used the money for my cravings! Like coke and cupcakes! He He He! Aside from selling crochet items, I have a lot of pre-order clothes, on hand clothes and a lot of items such as make-ups, bumper cases etc that I am selling on my Online Shop.
  • DIY Gift - We will attend a birthday party this coming weekend and instead of buying a gift, I made a Crochet Polar Bear Beanie. Handmade with love! I will share it here on the blog soon.
  • Joined Contest - I always joined contest especially if I like the prize, or I want something that I don't want to buy in that way I can deduct the money and use it to something else, or just plainly for fun. I liked the feeling of winning. Recently I won a multi media speaker and a GC from Flawless from Eastwood Mall's 30 Day Foodstagram Contest. No need to buy speaker! :)
  • Items I bought - I minimized my shopping habits but still bought a few items. I bought acrylic yarns for my future crochet projects and I was planning to crochet some gifts this coming Holiday season (as I did last year). I also bought monaco yarns for made to order crochet ear pads for my workmates. I got new jelly sandals that I bought for P120 for office use only, lets see if how long it will lasts. Oh before I forgot, I already have 100+ pieces printed calling cards for Blogapalooza! I spent P250 for those.
  • Eat-outs - This one is unmanageable, I love food! And I can't help to eat outside even-though I already had my packed lunch with me. So I need to minimize this to just one eat-out per month or per budget. I don't want to deprive myself so a little luxury is ok right? I also need to stop buying Happy Meal toys for the twins (they end up throwing the toys anyway). They have a lot of toys though they prefer basketball because they always throw things. Oh well toddler years. We can still play without requiring to buy toys. They have small bikes at home so I am not taking away their will to play. We also have old books though I am not letting them touch it pa because they tore some of the pages. From time to time, I let them play with our tablet too and let them play outside every morning which is very important to their motor skills. I will just buy new toys on Christmas to stopped buying small toys where you thought you are saving but not really.
Ok I think that's it. I still have a lot to improve. I mean a LOT! I discovered this site where you can compute your net worth. It is a calculator where it computes your Assets and Debts. And I realized that I am poor! Nakakahiyang i-share kung magkano na yung worth ko! I am working for more than 8 years and all I have are liabilities and debts. But I will leave you with the saying "There's no way but up!" Naks! I can still work on my budget, complete my emergency fund and finally open an account for more investments and passive income. Here is the link:

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