This month of March is a challenging period for me since I almost hit zero balance in my local bank account. This is due to the last phase of our house renovation and at the same time the sudden adjustment brought by the last-minute changes of the debt payment. To tell everyone honestly, I felt so disappointed from this situation since this is what I’d been hating to experience. Just imagine having a small amount in your account and you can do anything about it as of the moment. At the same time, the thing that you expected to settle everything suddenly didn’t happen, for sure you will also feel the same. Despite of this situation, what’s important is I surpass and learn from it. I realized that rather than lending money to anyone (even if they’re close with you), you should always consider the pros and cons of it. “Once trust is broken, it will never be regained again” and that what I realized in this month.

Moving on in that situation, I successfully surpass this month living within my budget. I was also able to save my grocery expense since I still have grocery supplies for this month. What I planned to use that savings in buying the things that I really need which is a work shoe. I’d been dealing with a broken shoe for almost three months already since I don’t have the budget to buy one. Now that I have an extra money this month, I will surely buy one now this time.

Like how I did it in my first finance review, this blog will be short, specific and concise which will be comprises of the following parts:

1. Savings. Are the amount I saved for each fund (Business, Insurance, Investment, Retirement, Emergency, Joint Account and Local Bank)
2. Expenses. Consist of the list of my expenses incurred for this month (Grocery, Leisure & family support)
3. Financial Plans for the Next Month. This part will be the financial targets for the next month that will serve as a guide for me to choose what I need to prioritize.
4. Ideal Budget for the month of February. This will be the ideal budget which undergo adjustment to meet the financial goals for the next month.
5. Summary. This will be the conclusion of my finances this month and the things I need to work on to meet my financial goals.

Doing this monthly review of my finances, it helped me to asses my savings capacity and manage well my expenses. Although I almost hit zero balance in my current account, I foresee already everything from the projected cash flow that I’m doing. That helped me to ready myself and at least feel less pressured/stress in that situation. One thing that I also realized is I became more dedicated in managing my finances. Unlike my past self who usually buy anything that she wants, I now realized the importance of prioritizing your need over your wants. It’s a big sacrifice to do it and I know very well that it’s very hard to apply it in our life, but one thing that helped me to make it possible is when I think about the ideal future that I am aiming. I know that with these small sacrifices that I am doing in the present will eventually helped in my future.

Now that I’m also aiming for a well balance life for me not to be pressured on my plans, I found it very effective because I now have a time for myself and be happy while saving at the same time. Unlike before when I just stayed at home fearing to go out, I now have time to hang out with my love ones and discover places around me. My Instagram account is a clear indication on how I enjoy my days right now.

I mentioned in my previous financial review the two things that I aim in this year to be able to maximize my income. For it not to stay only as a mere plan, I am working on it slowly but surely so that I can achieve it this year. I set a monthly goals and plan on things that I must do to make it possible. Now that I’m almost six years working overseas and I already secured my long-term investment, I am confident enough to invest in passive income and grow my income through career development. By focusing in these two things, I believe that I can achieve my financial goals at the earliest. In order to do it, of course I need to put efforts as well in whatever plans I made. For this month of March, here are the major updates that happened:

1. 1 House Rental Renovation Done [Monthly Income: P2,000] Salary Increase through promotion/change of job.

On the last week of March, the renovation finally finished and at the same time, we were able to post it in different Facebook Page. Our target is within the start of April, we should already have a tenant so that we can gain passive income from it. One thing that we did in order to attract tenants is to used a marketing tool to present it nicely. We used a layout from Canva App and out the pictures that my sister took. Here are some of the sample pictures that we uploaded.

2. A secured job which offers 33.33% more from current salary.

Last February, I applied from different companies within and outside Qatar. As of this day, I was invited for an interview in one property which is Banana Island Luxury Resort by Anantara. I’m currently waiting for the result of it before I consider resigning in my current company. In this month as well, I applied in two more properties here in Qatar. One is a pre-opening hotel in Katara and the other one is Qatar Airways. I will keep updating the status of my applications here in my blog so that I can also have a clear status of it.

3. Start saving for the 2^nd House Rental.

Now that the first house rental renovation is done, I will now start saving for my second target this year. As soon as I settle all the payments for my SSS and Insurance on June, I can now entirely focus in saving for this and building my emergency fund again.

It’s a busy year indeed for me, but once I surpass this period successfully, I can now at least start building my own real estate investment. It’s still a long way to go but I am so excited on what kind of future waits for me.

“Consider it a great joy, my brothers, whenever you experience various trials, knowing that the testing of your faith produces endurance. But endurance must do its complete work, so that you may be mature and complete, lacking nothing.” – James 1:2-4

For a recap of my financial goals this year, here are the illustration that will serves as your guide which is also mentioned in my blog “My 2022 Goals”.

Now, let’s see the status of my finances for the month of March 2022.

MARCH 2022 SAVINGS UPDATE

In the report above, it shows where most of my income goes. Now that the renovation is already done, I can slowly build my funds again for my financial goals this year. As long as I settled all my long-term investment payment, I can now at least have some for myself that I can enjoy. Even though I’m in a tight budget right now, I still feel grateful on things that I have. Even I don’t have the same things that most of my friends have, I believe that I can eventually experience It once the right time comes. I just need to focus on what I can do today and at least have some fun at the same time. Now, let’s carefully review each funds progress for the month of March:

1. Business Fund. . Now that the first renovation already finished, I will now build my savings for the second house renovation which I target to do on the month of July. I planned to save around P125,000.00 for the renovation cost so that we can at least increase the rental amount to P6,000 monthly. As of this month, my income from salary will be intended for my two insurance and SSS payment. Once I already collected the borrowed amount from my colleague, I can settle the amount for my business fund in lumpsum. These coming four months will be very critical and I need to make sure that I will stick to my budget in order to achieve this goal. Once I successfully achieve this, I can finally grow my money again for the next year goals.

2. Insurance/ Investment Fund. . In this month, I will be prioritizing building my local bank savings in order to settle my payment for Insurance and Investment on or before June. The amount I need to save for all of this long-term investment is around P53,000.00. Based on the projected cash flow that I did, I can settle the first insurance on the month of May, while the investment will be on June. Once I’m done securing the payments for each, the upcoming months will be entirely focusing on securing my emergency fund and next year’s financial responsibilities. The status of it will be:

3. Retirement Fund. My SSS or retirement fund payment which is P23,400/year will be source from the rental income of the first house that we renovated. Hopefully we can find a tenant before the month of April in order to received the rental income monthly. The one-month advance and two months deposit will be intended for my SSS and I will just send the balance amount on May. To assess everything, all of my financial responsibilities will be settled halfway of the year so I can focus on building my funds again.

5. Emergency Fund. Since I used all of my emergency fund due to the renovation, I need to wait until I settle all of my financial responsibilities in order to work on it again. Based from the projected cash flow, I can start building this fund again on August and secure the amount of P70,000 until November. This fund will be placed on my current local bank so that in case of emergency, I can have an easy access on it. This fund can also be used as an additional amount for my vacation just in case I planned to go on October.

6. Joint Account Fund. Like I mentioned in my previous financial review, one thing that I will give up this year is my savings for our joint account. I tried to adjust my budget to at least give way for this but sadly, I can’t really push through with it given the projects that I have for this year. Despite of that, I can assure that by the start of the year 2023, I can secure an amount intended for this since I can’t neglect it anymore given the plan that me and my partner have for our wedding.

As you can see, I successfully achieved the budget I set for this month. I was also able save my grocery budget which I planned to used for the next month needs. As this month ends, I can now be at peace again since I will have more funds now. As long as I can stick to the budget I set, I will be more confident to handle sudden situations. This financial review really helped me to know the status of my finances and the same time be more dedicated to the plans that I set. Even there’s a challenge that sometimes come up, I can feel how I became more motivated to surpass it. Simple steps indeed one of the best ways for us to reach our goals. It may take time, but it still gives a positive result to us. We just need to do our part for it to work out. In every planning that all of us do, it requires for an action to make it possible.

“You don’t have to see the whole staircase, just take the first step.” – Martin Luther King, Jr.

MARCH 2022 EXPENSES UPDATE

In the illustration above, you can see where my money goes and the amount that I saved up in the month of March. Most of my expense this month went to Leisure activities since I went out together with my cousin, my partner and the interview I took in Banana Island. Despite of going out, I was able to save up the amount intended for my grocery since I still have supplies until now. The only items that are finished are Chips and sweets! Now that I was able to sustain my need for two months, I planned to do my grocer every two months in order to spend it in my other needs. As we all know, this year is a very tough period on my finances so as long as I can save money, the more ideal it will be for me. I just need to be more patient in this year even if it is really hard to make it possible.

“Focus not on what you earn, focus on how you spend what you earn.”― Stephen Magnus

Even though this period I almost hit rock bottom, I will slowly come up again in these coming months that will come. I will build a good foundation for my finances and achieve the rest of the goals that I have this year. As I can see in the projected cash flow, I can start building my finances again on July and in the start of the year 2023, I can finally increase my expenses for my needs. In that way, I won’t deprive myself much on things that I want to buy since my budget for this year only covers my food/grocer needs and leisure. To give you a glimpse on how I spent my leisure expense this month, here are the pictures I took:

EDUCATION CITY TOUR

KATARA CULTURAL VILLAGE

“Don’t tell me what you value, show me your budget, and I’ll tell you what you value.” — Joe Biden

I’m pretty sure that there will be more challenging month to comes. Despite of doing this alone, I know very well that it will be worth it in the end. Big dreams indeed need a big sacrifice as well. In this tough period of my life, I will continue to look in the positive side of this situation. No matter how hard it will be, I will not put into waste the plans I set for myself. I did this all alone and I can achieve this all alone as well.

“Don’t tell me what you value, show me your budget, and I’ll tell you what you value.” — Joe Biden

Now that this month officially ended, I’m pretty sure that it will be another month full of happiness and challenges that will help me to develop myself. Whatever it will be, I will continue to have faith in Him and let my destiny unfold. I am confident that I will continuously stand tall and will not let my plans ends as a mere plan. I will surely make it all happen and once I look back in this blog, I can reminisce all the things that helped me succeed. I will take everything slowly but surely. I will continue to take baby steps until I achieve all of my plans in life.

FINANCIAL PLANS FOR APRIL

The month of March officially ended, and now as the new month come, I need to work on the right plan in managing my finances. By doing this blog, it became my guide in coming up with the right monthly plans and budget. By also doing this, I also got a chance to review my performance for the past months. In all honesty, I never been so productive like this before. I feel like I found a way to motivate myself more and make my goals possible. I fell in love in planning and achieving my dreams. Despite of having hard times, I have this positive outlook in life that helped me to surpass it.

I still have nine more months to work on my goals but it doesn’t mean I won’t take these months seriously. Every month counts and I need to double my efforts more. Through right planning, proper management of finances and discipline to stick to my budget, I can successfully make this year as a big step on my goals.

“The two most powerful warriors are patience and time.”- Leo Tolstoy

Now to check my progress for the month of March and the plans I have for the next month, here below are the two illustrations of it:

1. Collect debt payment. I mentioned in my previous blog that we decided to change the mode of payment to installment due to that person’s situation. Although I really felt bad about it, I just try to forget it and just focus on what we’d decided. Now, I need to collect a monthly payment in order to complete the amount that she borrowed from me. It will take until June (four months) and in that period, I need to make sure that she’ll pay me based on what she told me. I can’t just give another chance nor settlement anymore since I also have a lot of financial goals this year. It’s literally now or never.

2. 800 Qar intended for all expenses. After assessing the expenses that I have for the month of April, I came up in an amount which will cover everything. From my grocery, leisure activities & gift for my partner I should not spend more than this amount in order to achieve my budget for this month. I planned to give my leisure budget to my partner for safekeeping purposes, so that I won’t be able to spend it. I just hope that I can strictly stick to this plan or else I will surely regret it afterwards.

3. Start saving for SSS, Insurance and Investment payment. Since I already set a specific month for the payments of these long-term investment responsibilities, I need to work on it by no so that I can save up the needed amount for it which is P53,000.

4. 1^st house rental profit starts. Now that the first renovation will soon end, one of my targets this month is to have an idea on how much will it cost to renovate the second house rental. This is for me to know the amount I need to save up and what month the renovation will takes place.

5. 2^nd house canvass. One target also that we need to prioritized is the canvass of the second house. This is for us to have an idea on the amount that we need to come up with. Now that I set a P125,000.00 budget, we just need to know the balance amount that we need to save so that we can renovate it on July.

With these financial priorities for April, it will guide me to make the right plan for the month of May. Hopefully, I can achieve all of it in this coming month so that I can move on to my next targets.

IDEAL BUDGET FOR THE MONTH OF APRIL

Now that I have the insights of my priorities and targets, I can now plan for my budget this April. After carefully assessing everything, it’s time to come up in a plan in order to meet all of what I set. This April budget will be based on my cash flow this month and also the financial goals that I have right now. Unlike the month of March, I believe that I won’t experience almost a zero-balance account since the renovation is already done. I just need to ready my finances for the payment of my SSS, Insurance, Investment and 2^nd house rental renovation then I’ll finally be focusing on having my own real estate business! I still have a very long way to go, but what important is, I’m already taking baby steps in that journey. I know that everything will take time, but one thing for sure is that it will be surely worth it.

In this coming month, there will be no other financial obligations that I’ll be handling. I just need to focus on building my funds again since I run out of savings due to the renovation. As you can see in this illustration, I carefully planned my budget specially my expenses since we’ll celebrate my partner’s birthday. Other than that, I’m also scheduled to buy a pair of heels this month or else my partner will get mad at me! I just need to make this plan possible in order to settle my financial obligations for this year. The projected cash flow that I did in the start of this year greatly helped me to have an insight of my finances. By having that, I can plan well my monthly budget and decide the ideal month to settle my financial goals. As of today, I have the following financial tracker that I’m updating every now and then:

1. Projected Cash Flow 2022
2. Savings Tracker 2022
3. Expenses Tracker 2022
4. Renovation Expense 2022
5. Monthly Budget Guide 2022

Now that I surpass the first three months of this year, I am confident that I’ll be able to pursue the rest of my goals this year. I just need to be more patient and dedicated to follow the monthly budget I set. As long as I will stick to it, no funds will be compromise. One thing that may only affect my finances this year, is if I decided to go for vacation on October.

“A budget is more than just a series of numbers on a page; it is an embodiment of our values.”– Barack Obama

Goodbye to another successful month of saving! This month, I was able to stick to my budget and assess the things that I need to work on in order to achieve the goals that I set for this year. The two weeks of worry will now will change into excitement because this will be the start of everything. I will slowly see now the sacrifices I put through these years. This first step will be the thing that will motivates me to achieve more.

I believe that through this experience, I will surely realize a lot of things that will help me to be stronger. Every challenge, mistakes and failures that I will experience will serve as a learning process for me. Three months of this year may pass, but it’s a very memorable period for me. In this period, I was able to take one step closer to my goal.

This will only be the start and I’m aware that it will still be a long journey for me. One thing I believe is that, I will continue what I started and never give up on this.

“The journey is never ending. There’s always gonna be growth, improvement, adversity; you just gotta take it all in and do what’s right, continue to grow, continue to live in the moment.” Antonio Brown