My 2014 Financial Review and Reflections

Yesterday, I was contemplating whether to go for a little 'me' time since I have been putting it off for quiet sometime due to time constraints. It was only yesterday that I have free time for some little hair trim, pedi, and a possible facial sana, but then, at the last minute, I changed my mind and walked away from the salon. I instead went to grocery and bought salad ingredients. Hahaha. I was from a 1.5km walk and had thought considerably that the money I will have to spend on my 'me' time will be of more purpose for my husband and I noche buena since we are going to celebrate it away from home. Yeah, I still have to work on the 25th morning shift. No complaining, just thankful I still have  work to help support the family needs.

This year has taught me well dealing with the proper finance mind setting. I started studying and learning about VUL, UITF, MF and though I have been with COL since 2011, it is this year that I started to study the specifics and details. A long way to go, but with continuous study and determination to learn, I know time will come I will be equip enough to teach my little girl and the members of the family of such. Of course, what comes along all this financial literacy is being wise with the money choices and being frugal enough to meet our target goals. And this is one of the best gift for 2014 so far - Learning more on how to deal with our finances.

I started with 2 quarterly paying VULs as I mentioned in my very first writing as one of my Financial target this year. Yes, VUL. I am not into Term Insurance and this is just me. With higher fees and all,  I still opted for this. Basically for our retirement if I live longer than the expected life span and for my little girl's college fund. I wanted to be protected just in case something happen to me and an investment added into it. No one can tell the future. But I wanted to leave something for my family so they will not feel the burden of me being gone and can proceed with normal life with no issues with how to sustain their current lifestyle for a certain period of time until they get back on their feet.  Just in case I am gone, my little girl's fund will be fully paid and will only have to wait until she reaches her legal age to obtain the receivables. That is if she doesn't want to continue topping up. As a breadwinner for my parents, I needed this too for them.

UITF is new to me and even MF. I have gone to different forums, blogs, and readings. Thankful for every tidbits of information I have acquired. And I have dipped my toes to both last October 2014. My officemate and I opened the BDO EIP. The staff at the BDO branch we went to was very accommodating and was able to answer our queries that time. I only opted for the 1K per month cost averaging equity contribution. And it will be 6 more months until I can get my first COP. I did open up as well for Sunlife MF. They have a 5k starter account. These are huge steps for someone like me but I hope that 2015 will help me take care of the top ups.

All these are materializing while we are in the process of building our emergency fund. Currently, we now have 71.9% of the emergency fund on our BPI Auto Save Up and in a 1 month time deposit account which we have tried working on since November 2013. Not everything is as easy as it reads.

• We have sacrifices. A lot of sacrifices of foregoing the wants and going back to basic.
• A commitment to make it happen.
• A focus on the target goals
• Faith that no matter how bad this day, there is still another one tomorrow.
• A grateful heart that we are blessed with what we have no matter how very basic it is.
• An accepted challenge to sustain and beat the obstacles coming along the way.
• Prayer to the High above that He will give us the strength and the wisdom to know which can be of greater good for the family.
• A delayed gratification knowing that someday, my little girl's needs can be meet.

Thank you Lord for everything.

Happy Holidays! :) Smile.