Our new business went bust. Sad to say, our first 5 months in the business resulted in negative cash flow. So my wife and I pulled the plug and paid the early contract termination fees. Pretty hefty 107k pesos just for that. So total losses were about 500k total including the franchise fees and additional capital we sunk in the business. Oh well, we learned a lot from it and will probably look for another venture next year. (try and try again)
That said, our net worth did still climb since my last update, owing to mortgage payments and continued investments into our UITF and stock funds. All of our assets minus all our debts is now past 7 million pesos!!! Woohooo. We continue to save about 40% of my paycheck mostly by cutting down on any expenses and automating our contributions. I am a big fan of automation with all mortgage payments, and UITF contributions deducted from our savings accounts every month, without any prompting from me.
I think this has helped us a lot in growing our net worth as we don't even notice that we are missing the money. We just live on what is left. We continue to be smart and frugal, eschewing purchases of a new car (we have a 10 year old civic and a 3 year old jazz, bought second hand) and expensive clothing. We also limit eating out and I have all my breakfasts at home, using that time to catch up with my kid.
So far, we are on track for early retirement at age 52, which we hope to cut down to 50 years old if we can finish off paying our mortgages earlier.
How are you doing with your net worth?
Update as somebody asked me how my net worth was broken down. Safe to post this as I haven't really divulged my real name. :)