Wednesday, December 28, 2016

2016 Financial Goals Update

          2016 may not been good to me financially but I was blessed with wisdom that helped me get through all financial difficulties I had this year. After I wrote 2 blog posts yesterday, I saw my featured post & decided to update it before the year ends. I have four set of financial goals this year - my emergency funds, my insurance, my mutual funds and my target goal this year -300k (combined savings & investments).
          EMERGENCY FUNDS (priority goals) 
          I have set these four particular emergency funds this year. After experiencing the tough times this year I think emergency should always be on top of our financial goals. I think its important to set as many emergency funds as possible - medical emergency fund should be separated from personal emergency fund as well as our buffer fund and other savings fund according to its purpose.

1. Personal Emergency Fund - target is to have atleast 20k before 2016 ends - DONE.
2. Family Emergency Fund -  another 30k before the year ends - reach 20k only.
3. Health Emergency Fund - reach another 20k before 2016 ends - DONE
4. Renovation Fund - used up all my renovation fund last year on our roof.
* Education/Graduation Fund (addtl) - opened 10k for this fund after I received my scholarship - DONE.
* Housing/Investment Fund (addt'l)- new target 100k next year, I've already opened an account for it.
         My plan to open a whole life insurance in Paramount was put on hold for a while until I finish paying my Philam life insurance.
5. Finish my Philam Life Insurance - done/completed it last November.
          I'll try to open a whole life insurance this January 2017.

         My plan to redeem my shares in FAMI & Soldivo Funds did not pursue last year because of the current value we have on the market these past few months. Hopefully it will be up next year. I also stopped making additional investments on my Philequity account because I needed to prioritize my life insurance & emergency funds over my investments.

6. Have a total of 40k in FAMI SALEF - FAIL
7. Have a total of 60k in PHILEQUITY. - FAIL

                   This is my last and my most important target goal this year and I hit it. Yes, I completed my target 300k goal even if I fail on my 4 goals listed here. Completing my 200k BPI life insurance has made a large contribution on reaching my 300k target goal this year.

8. Target 300k -combined savings & investment updates - achieved!

          I was not able to achieve all my financial goals this year but what is important for me is the journey I took in reaching one goal after the other. My mind is still set for One Million. Next year, I'll double my target & I will work hard for it.

How about you?
Have you reached your financial goals this year?

Have a great year ahead!
God bless.

Photo courtesy of

Tuesday, December 27, 2016

Dealing with Financial Problems

          Financial problems are sometimes inevitable. It is the reason why emergency fund is always taught first in financial planning. A lot of emergencies happens especially if you are living in the Philippines. Aside from typhoons & calamities, rainy days & sudden change of climate usually brings floods & sickness which leads to the usage of our emergency funds. Another reason behind setting an emergency funds is for preparation of possible unemployment in the future.

          My case is comparative to being unemployed already. With almost five months delayed salary and counting, you can see that I am in already in deep financial problem but I was able to survive it & I am still surviving & enjoying my life as well.

          Having a emergency fund is not the only solution in dealing with these kind of financial problems. Fortunately, I live in the Philippines - our simple lifestyle & Filipino traits contribute a lot in surviving whatever major problems I experience. Here the things I learned this and how I dealt with my financial problems lately.

          I know my strengths as well as my weaknesses. A lot of the people around were suggesting that I should look for another job or I should find an online job. Well, its a good option but I simply cannot do it right now. I need to focus on my studies first. I know that mind is not good in multi tasking. At my age today, I know that my mental ability is not as good as compared to my younger years  so studying while working is a bit difficult for me now. It will be more difficult for me if I'll have another job. So for now, I just have to be frugal & be wise in every financial decision I made.
          God has created us equally. We all have different level and types of intelligence and we were also given our own strength & weaknesses that we can use accordingly and that I think is an important in dealing with financial problems. Taking risks is good for other people but not for me, I cannot take risk right now for it might jeopardize my plans & goals in life. I am taking things slowly but surely and one step at a time.

          Yes, one at a time. It's the advice I always get from my classmate whenever I'm in a panic state during my school days. She would always remind me to think of one task at a time, solve one problem at a time, take one step at a time and ask for divine enablement all the time.
          With my current financial situation today, who wouldn't panic? But since I was always reminded with those words, It helped me a lot in making financial decisions, most especially in prioritizing which financial obligation should come first.

           Prioritizing is the key not only in dealing with debts but also in dealing with financial obligations as well. Last September, my tuition fee was on top of my priority list. As you can see, I stopped making additional investment on my mutual funds & focus more in completing my BPI Philam life insurance. I was glad that I was able to finish it last November, "atleast nabawasan na ako ng iisipin." I also went back to completing my emergency fund as part of my financial goals this year.

          To be able to fulfill my financial goals, I try to simplify my lifestyle & be frugal in every possible way I can. Do you know that it can be both good & fun at the same time? Going on a diet & walking to save some money can be good to our health while the more I deprive myself into eating at Jollibee, KFC, Mcdo or Chowking, all the more I get excited when I indulge myself a little bit into my comfort foods once in a while. Aside from the fact that we Filipinos loved eating tuyo, daing & bagoong with a little malunggay leaves & kamote from our neighbor's backyard, hahah, panalo pa rin sa gana tayong kumain, who wouldn't agree with me? As what the saying goes, "money can buy food but not appetite".

          I usually have my budget plan posted here and even though I stopped listing my daily expenses, I already know how much will be my budget for the whole month or if there's any extra from my earnings. Knowing your cashflow is equally important in the determining your future financial plans. In this way, I was able to know my monthly & yearly expenses as well as the amount I need to set aside in the future. In my case, I was able to fit on P500-weekly hapit budget and it will be easier and flexible to adjust should I be permanently be unemployed next year.

When I decided to go back to school, I told my mother the possible financial problems we'll encounter in the future and her response "It's okay, we'll help each other, go ahead pursue your plan."
When I told my father I really can no longer buy rice, lpg gas, & other grocery stuffs because of the current financial situation I have and he said " It's okay, I'll be the one to provide it from my SSS pension". (sacrifice muna yung pang tong-its nya, magmimiron na lang daw muna sya, heheh)
Family will always be the first to help you during your most difficult times. I advise those breadwinners out there not to assume all the financial burdens, it is always best that the family knows what we're going through so that we'll be able to help one another.

When I told my boss that I want to continue paying my life insurance, I requested him to give back the 3 quarterly premiums he was not able to deposit and he agreed to give it back little by little until its completely paid.
When I needed to pay something or needed some allowance, I always go directly to my boss, to ask for a portion of my salary, and he'll try to provide it.
I know the current financial situation of our company and I have made some financial sacrifices too but there were times that I badly needed some money too for my survival.
My mother told me to stop working since our company can longer provide our financial needs but I feel like I needed to help our company. And even If I do give up my job all the more chances of not completing their financial obligations to us including the SSS, Pagibig & Philhealth that were not paid for four years. Our boss is a kind person but those decision can only be settled by him so I need to be present until such time that it will paid as he promised.

I think this is most important lesson I learned in dealing with those problems. I believe that everything happens for a reason and not just a random result of everything that happens in our universe. Even If I do have plans & goals for myself I know that God has a better plan for me.
As what Jeremiah 29:11, "For I know the plans I have for you,” declares the Lord, “plans to prosper you and not to harm you, plans to give you hope and a future."

These are the things that I have learned as I go through this tough & exciting times of my life. This year 2016 may not be as good as those previous years financially but I can say that this year has taught me a lot to be more mature & optimistic in life. I always thank God for all the blessings I received this year & pray to HIM to give me more strength & wisdom as I go through these challenges in life.

So there goes my financial journey.
How bout you? What are the lessons of life this 2016?
Have a great abundant year ahead.
Happy & Prosperous 2017.

Meaningful Christmas

Merry Christmas Everyone!!!

          This Christmas for me is one of the simplest & meaningful "Christmas" I ever had. I may not be blessed financially (almost five months delayed salary & counting plus half 13th month pay) but God had given something to treasure this year.
KG's favorite toy - "our Tv's remote control"
          Aside from good health and harmony in our family - this super kulet little angel is our constant source of happiness in our home but what made my christmas extra meaningful is the message I received in Facebook that really made my heart jumped with joy. Let me share this message here:

Special message to my pretty professor, 

Ma'am Grace: 

I will not forget you Ma'am Grace. Writing this for you is a purpose to remember you as a simple and hardworking history teacher and an inspiration. Even though staying in the campus as our teacher isn't permanent, you really embraced us. I am warning you Ma’am, this would be so cheesy, forgive me. Hahaha! 

Your words of encouragement made us so inspired and motivated especially when some of my classmates cried when they knew they might have failed in other subjects, and also when I knew I might have failed in atb subject. You’re a teacher that I am comfortable with, we are so blessed to have you and know us for a while, and I am grateful and it was a great pleasure to meet you. Thank you for believing in me and unto my skills. You and Ma’am Kea boost also my confidence when reporting in front of the class, I don’t know if you noticed but I always feel nervous when I do stuffs like that, however, you’d given me encouragement to do better and I will remember both of you this way. It was so heart-warming to hear your compliments regarding to my performance in school. 

It made me learn to myself that I can do better and that I can do my best causing me to strive for more. I really appreciate all things even the simplest like tapping our back, that means a lot, some people talking without speaking and hearing without listening, it did tell us that we’re doing good or we can do good. Because of you, I learned to be great at what I am doing and I’ll continuously ponder your words of wisdom, especially the ones you've tagged in to my Facebook account. 

Also, I like to tell you that your history class is not so sleepy... for me and I do appreciate when you did Photoshop tutorials. I am still practicing Photoshop for I find it very interesting and useful, and through the tutorial videos you’ve shared, learning become easy. Maybe some of my classmates had fell asleep while the discussion is ongoing yet I guarantee that we learned from you. I know we've been naughty also but I hope you enjoyed bonding with the whole class. I will miss you ma'am. I wish you all the best. May God bless you and your family always. I can't wait to witness our very own success in life as we meet again someday. 

Ma’am I want to let you know that this letter is a part of my daily diary updates and it was my hobby to read my previous writings and this stuffs making me so cheesy yet it is my special way to flashback things for it is special to recall all the happy memories. Have a very meaningful Christmas with your loved ones and a bunch of blessings this 2017 and in coming years. God speed. I am praying that we do find what we're meant to do in life. Thank you very much Ma’am Grace. 

Your student,  

          I will really treasure this message in my heart. As what my professor once told me, "that teachers can really touch the heart of their students". I may not have touched the heart of those 39 architecture students but one is enough for me to experience the joy of christmas and to find the true meaning of life as well.

Merry Christmas again!
May we all be filled with blessings this coming 2017.
God Bless.

Friday, December 2, 2016

My BPI Philam Life Insurance Premium Complete!

Yes, I finally completed the 8 year premium payment plan of my BPI Philam Life Insurance!
          I received this letter last week and so happy when I read that I have completed already the premium payments required for this insurance. I hurriedly call the BPI hotline to verify including the policy loans that our company applied for and they confirm it. My quarterly premium & policy loan are cleared.

          It was my priority goal last November and I wanted to clear my policy loans & to pay my premium on its due date. It's one of my financial goal this year & I have set my mind that I must clear it by November to prevent from further accumulation of interest. It was a difficult goal but I'm glad I achieved it inspite of the current financial crisis I am experiencing these days. As of this date, my salary is 4 months delayed and counting.

          This BPI Philam life insurance is a basic whole life insurance plan payable for eight years that our company took as part of our incentives. Half of its premium was payed by our company & half  was deducted from our salary but after six year, they gave us the sole responsibility of paying its premium amount. I was hesitant to continue it but after computing & comparing the amount paid and the remaining amount to be settled I decided to continue it.
         And now that I have completed its paying requirements I am now insured for 200,000 covered until February 2075.

          Aside from the life insurance coverage, what amazes me with my BPI Philam life insurance is - it has a cash value that accumulates 4% per annum. Should I plan to terminate this plan before I reach the age of 100 I can still get its cash value. This month, I already have P 33,000 +++ cash value equivalent on this plan, panalo pa rin di ba?

          And because I am now insured, I also feel like I'm 200,000 richer, hahah. I'll be adding this to my portfolio, excited na akong mag-compute ng net worth ko.

Just sharing my experiences again!

Have a great weekend guys.
God Bless.
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