ME AND TROUBLING EXPENSES

I had never experienced a year as tiring as 2020, mainly due to emergence of novel coronavirus pandemic devastating many people’s wellbeing both in health and finances. Scars left by the pandemic still apparent in the first quarter of 2021, and economy result in this period came out undesirable. Though in my opinion, the result not that bad, but clearly below initial expectation held by investors. As such, numerous stock market indices dropped, and my investment is in unfavorable state.

Anyway, I am not too worry, as I have long-term view about the investment and not in a hurry to liquidate any of them.

Moving on, when my wife and I got married both of us bought new appliances to fill our new house. It has been more than six years since the purchases, and some began to show sign of refusal to do their assigned duties properly, if not outright rejected it.

They needed immediate counseling!

OUR PROGRESS UNTIL NOW

In our early days of marriage in 2015, my wife and I were fortunate to already have a car and a house, without the need to take on any debt. To be precise, the car was bought in 2010 and the associated debt was already paid off years before our marriage. With proper maintenance, the car still looks good and performs well until now. On the other hand, the house and its furniture were bought in cash, the result of working, saving, and investing, before we got married. Mostly my wife, which surprised even me.

Turned out, she was a way better financial manager or planner than me. To be honest, my pride shattered. In a good way, you can’t learn anything when your cup is full. Since that day, I prepared a bigger cup with nothing in it.

EXCESS CASH DURING PANDEMIC

Honestly, since the emergence of the novel coronavirus in March this year, it is difficult for me to maintain my spending to be within allocated budget, mainly because there are expenses that arise to enable physical distancing and remain healthy. Here, it is extremely challenging to practice some distancing in public transportation.

It was crowded, and you can’t expect everyone to follow health protocols. As such, I decided to take my own car to go to office, and incurred higher transportation expenses due to gasoline and toll fees. Simultaneously, I also have been buying masks, hand sanitizers, and vitamins, which do not come cheap, to support my health. Better safe than sorry.

Having said that, this month, miraculously our spending was below budget for the first time in 6 (six) months. I had doubt actually. But, after recalculating evertthing, it was true, it was a fact, we have excess cash. Hooray. So, what should we do with the excess cash?

(HOW TO CALCULATE) YOUR NET WORTH

One’s net worth is the total value of their assets, minus any outstanding debts. To calculate your net worth, start by totaling the value of all of your assets and then subtract your total liabilities. Calculating and tracking your net worth is a critical part of achieving financial independence or freedom, because to improve your finances, you first have to know where you stand. You need to know what need to be fixed or improved. Simultaneously, knowing your net worth also helps in setting realistic goals that you can track over time.

Finding your net worth is relatively easy, anyone can do it. But, it is crucial to include the right items in order to get an accurate number. Otherwise, you will not come away with a good idea of where you stand, let alone a solid basis that can be used to set specific, actionable goals, it might even misleading.

HOW MUCH MONEY SHOULD I SPEND ON HOBBIES?

I have several hobbies or interests. First, is of course writing, which is the main reason why I started this blog in the first place. I also write novels, but the pace is, well, very, very gentle. Second, for as long as I can remember, I like to draw, and my specialty is drawing characters. Nowadays, the character I drew a lot is a squishy white cat called Hello Kitty right below, as often requested by the twin.

Third, I am fond of playing mobile legends, a mobile game, and usually play it during lunch break as tank or support, particularly using Lolita or Ruby. Fourth, I like teaching, and sometime offer free sharing session about finance-related topic to friends. All of these, have little prospect of making money for me for the time being.

Then, the question is; how much should a person spend on hobbies?

HOW TO GET FINANCIALLY FIT IN THE ‘NEW NORMAL’

The coronavirus that hit us in early 2020 is not just a health crisis, but also a disaster for the economy. Corporations went bankrupt, employees were laid off, bad debts increased, and, in the worst-case scenario, the global economy might experience negative growth. At the same time, the government has imposed social distancing and other restrictions to keep the virus from spreading. There is no doubt that how we go about our lives and finances has changed, either gradually or drastically.

ENTERING SALARY NEGOTIATION

Picture source: thetiquetteschool.com

In previous article, I mentioned what questions need to be asked during job interviews to better manage our finances when accepted in the new company. Having said that, for me, the core point of whether I accepted a job or not depend on successful salary negotiation. Some people may have differing opinions about what is the most important in a job, and that is okay, it won’t hurt you to keep reading this article.

Nowadays, information is a lot easier to acquire. With a click of a button, there are many tips and tricks that you can find out in the internet related to salary negotiation.

This is my 4th official workplace, and I have had experienced interview sessions more than that. These are what I did to acquire favorable salaries, and it started way before the interview even began.

BUDGET PERSONALITY

Your personality affects every aspect of your life, even on how you manage your finances. Whatever kind of personality you have, you need to know its strengths and weaknesses to maximize your money management style.

NEW NORMAL, NEW JOB? QUESTIONS TO ASK IN AN INTERVIEW

The so-called “new normal” is an effort to once again move the country’s economic gears to avoid a further slump in the economy. Since its initiation, companies, malls and stores have reopened their businesses. Roads that have been deserted for the last three months or so are now crowded with vehicles and pedestrians that are now wearing masks and gloves, as well as carrying hand sanitizer and physically distancing themselves from one another.

At the same time, business entities are hiring again — though not all, each with their own reasons and purposes. For those seeking new opportunities, this might be the time to update your resume and send it to your intended employer.

In a hiring process, people have two interviews, at least. The first is going to be with your would-be supervisor and the topic is related to your work and responsibilities. The second is with a representative from the HR Department. During this particular session, these are the things you ought to ask to better manage your personal finances if you are hired.

I AM USING CREDIT CARDS

Before going further, let us first know more about credit cards.

What is a credit card?

A credit card is a revolving line of credit that allows you to make purchases any time up to your credit limit. However, the credit card does not give you free money. When I swipe my credit card, the bank lends me the money to make that purchase. And, unlike normal loan, which has fixed maturity date and regular installments, with credit card, you choose how much to repay each month – minimum, partial or full payment.