When you can’t upgrade your drinks at Jollibee

I always have this dilemma every end of the year; the dilemma of disclosing my financial assets and obligations. It’s not because I am fortunate enough to earn more illegal fortunes in Mafia Wars and looted more gold in Pirates besides from my wholesome income in Farm Town.

I actually have the predicament of what to write in the assets, liabilities and financial connections sections in the Statement of Annual Asset and Liabilities (SAL), which all public servants are required to submit.

Last year, I submitted my SAL with a zero Networth. Networth, by the way, is computed my deducting all payables or outstanding liabilities from your declared assets – land, buildings, vehicles and other properties. “ZERO” in the sense that I don’t have tangible assets to declare and I don’t have outstanding obligations whether in formal or informal lending sector. I mean I don’t own land, vehicles or buildings and I also don’t have any debt to pay.

In short I don’t have assets, except my handsome face, and I don’t have financial obligations, except to pay my monthly house rent.

The people in the admin department, however, wanted me to change my report. I told them that I don’t own something of value to declare. But they insisted that I will instead put value on the cellular phones I owned and books I have in possession. And to make it more appealing in the eyes,  I also included the appliances I bought years ago, which in my calculator would only be worth low four (4) figure today due to depreciation expenses.

Financially, I would say, I was living on break-even state last year. I didn’t have any savings. I don’t have extra cash but I had lived within my income. This is so unlike of me in the past for I had a principle that I should at least have P20,000.00 in the bank as savings. I can spend any amount but I should never touch the P20k in my savings. That amount is intended to keep me somehow afloat in rough waters.

I have a different story somehow this year, 2009. I was no longer living on a break-even plane. I was able to save something, P30,000.00 in my bank account, and even have a receivable of P55,000.00. But the P55k receivable can still be considered unrealizable if I opt to give it to my parents.

Similar to last year’s, I still don’t have tangible properties. I plan to purchase a house and lot though, but those still remains to be a dream now especially that I don’t have the financial capability to acquire such.

I hope that I will have a better networth next year. Much (much) better than what I have now.