Where did our money go?

What's up beautiful humans? The last week of the month is approaching and that only means one thing for me. Bills payment. Wahhh! Honestly being the one who is responsible in budgetting the money for everything is such a pain in the a**. Yesterday I was out to cash in some money to my Gcash account because on the 23rd of the month our monthly amortization for the house is due. I am thankful for these ewallet because it is convenient and I don't need to wait for a long queue of people in the payment centers. Thanks to whoever made this thing happened.

Few more days and the house bills are next. Oh our electric bill this month surge to the moon. From 2600 last month, now its 3100. That is 500 php higher. I think it is time to conserve some energy to save some money. Glad our internet connection fee is fix at 1300 a month, unfortunately though we have almost 4 days without internet and honestly it is such a hassle to report it at the customer service for some adjustment at our bill due to interruption. On the second week of the month, I already paid our water bill that costed almost 1000 that was approxiamately for two months since I have forgotten to pay the last month's bill. I know some of you are also having a hard time in managing budget most specially it the money isn't enough.

Honestly speaking if only we have no obligation to pay my little family would be living in comfort because of my husband's salary, however the reason he keeps on grinding is because we need to pay for it. Anyway let me list down the things or I should say a little investment that my husband and I had so that his hard earned money wouldn't be wasted.

Housing Loan

Both hubby and I decided to invest a house before getting married. I was actually pregnant with my second child when we applied for it and luckily it was approved. Though we wanted to pay it via bank finance for a shorter terms, however during that time the car loan that my brother in law got was in the name of my husband. He (bro in law) has an approved housing loan at the bank prior to getting a car, so he asked Anthony's favor to have his name on his car loan and it was approved. With that situation, we had no choice but to have the other option to pay it via Pag ibig housing loan with a longer terms of 30 years. Unfortunately that was the only terms available offered by the house developer. We started paying last August 2012 with almost 12k monthly. They said as years goes by the monthly payment for Pag ibig housing loan decreases as long as you are a good payer. Right now, we are paying only 8500 per month. We are actually saving a big amount so that we can pay the principal's interest so then the years of payment will be deducted.

Insurances

We have two life insurances, one in Sunlife and the other one is from Manulife. The sunlife is named after my husband, which he got in 2015. The payment mode we got here is annually. So every December a whooping 24k is deducted from our savings. The manulife was named after my youngest son and I started paying it last May 2018 with a monthly payment that is deducted at my bank account automatically. I am planning to get another 2 for my oldest son and me once the payment for these insurances is done.

If there's a life insurance, there is a memorial insurance. We actually have one current memorial insurance at St. Peter. It is payable within 5 years and the terms I got is semi annual. We only have 5 payments left before we can be fully paid. We're supposed to get one when the price of the decent plan was just 50k below, however we're paying another investment that time. When we finished paying for it we decided to buy plan at St. Peter however the price doubled. From 50k it is now 100k which is payable within 5 years.

A piece of land in our province

So this is another investment that I am talking about. We bought a 100 square meter land in my province that costs 100k. We were done paying for it and actually waiting for the land title to be transferred. Both hubby and I decided to settle down in the province when we get older. We are planning to build a house there that could also serve as our vacation house as well. The problem is that we don't have extra savings at the moment. I gave my mother 20k the last time we went home so that they can build fence around our land, however when pandemic happened, I have to ask my mother to sent the money back to us. The plan is still there, there might be some delays but we'll make sure to let it happen. The sooner the better.

Final Thoughts

It is really important to use our money wisely. You have to save for your future at the same time you have to spend for your future too. You have to determined whether the things you are spending are necessary. As they say, earning money is too hard, but spending it is very easy. In these times we all need to be practical and see to it that our money goes to something worth it in the end.

That would be all for today. Thanks for dropping by and see you next time.

Lead image source.