Financial Literacy 101

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    12 Easy Tips how to save money

 

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Isa ka ba sa mga tao na ang laging excuse ay " Di ako makapag save kasi yung sweldo ko ay kulang pa sa pang araw araw na gastos at pambayad utang"?

 

Have you ever realized na kung ganyan lagi ang nakatanim sa isip mo, kailan man ay hindi ka makakapag ipon para sa kinabukasan mo at ng pamilya mo?...Patuloy ka pa rin sa ganitong scenario na trabaho-sweldo-bayad utang-gastos...same vicious cycle over and over again.

 

Kung sawa kana sa ganyang buhay at gusto mong makaalis sa "rat race na yan", then make a COMMITMENT to yourself that you will change your financial life.

 

GOOD NEWS: You do not need to make  major adjustments.Just small changes on your daily lifestyle.

 

Here are some helpful tips on how you can save money

Start bringing packed lunch/snacks

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If you are spending 70 pesos for lunch and 30 pesos for snacks, you are already spending 100 pesos a day at sa pagkain pa lang yan. So start bringing in packed lunch/snacks.Nakatipid ka na, makakapagbaon ka pa ng healthy food.

 

SAVINGS PER MONTH : 100 pesos X 22 days ( Assuming 2 rest days/ week) = 2,200.00

Make it a habit to walk for short distances

Do you know that walking 30 mins a day is good for your heart?..So bakit di mo subukan lakarin yung mga short distances instead of taking a jeepney or tricycle. For example, if you are taking a jeepney daily to take you to the bus station which is about 500 meters away or less, back and forth, bakit hindi mo na lang lakarin since that only takes 10-15 minutes walk. Then yung 14 pesos na pamasahe mo araw araw ay itabi mo at ipunin sa isang jar. Nakaipon ka na, nakakapag exercise ka pa araw araw.

 

SAVINGS PER MONTH : 14 pesos X days ( Assuming 2 rest days/ week) = 308.00

 

Avoid too much soda, drink water more instead

Most of us can't live without drinking soft drinks and other sodas after or in between meals. If you cannot eliminate it completely, you might want to decrease your consumption and save it instead. If you consume an average of 1 can of soda a day, just imagine how much can you save plus it reduces the risk of diabetes as well.

SAVINGS PER MONTH : 20 pesos X 30 days = 600.00

Keep Lung cancer away. Quit Smoking

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You may not notice it but every stick of cigarette that you puff that costs 3.00 can turn into million in the future if you quit now and save the money instead and keep you away from the hospital that may eventually cost you a lot of money for your hospitalization. If you consume an average of 10 sticks a day, just imagine the money you throw away every single day of your life. Kung 5 years ka nang nagyoyosi, and if you are spending 30.00 a day, gumastos ka at nagsayang ng around 54,000.00...It would have been doubled now kung inipon mo siya at ininvest....Think about it.

 
SAVINGS PER MONTH : 30 pesos X 30 days = 900.00

 

Check and monitor your expenses daily

Writing down all the things that you spend everyday. This will help you track your expenses on a daily basis. By doing this, you will be able to figure out that you actually making a lot of unnecessary expenses---something that could have been avoided if you have this "save first" mentality

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Create a weekly budget

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Make an outlined weekly budget based on your income. Make sure to list down your needs from highest priority down to the least. 

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Differentiate needs vs wants

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Most often than not, we don't pay attention if the product or services that we purchase is indeed a NEED or simply just a WANT.Needs are necessity like food, clothing and shelter while Wants,on the other hand are those just driven by impulse and most of the time, we do not really need it. Do you remember your recent purchases and can you identify which are wants and needs?...How much you could have saved? So, if you start saving at 20 years old,when you reach 40

 

FYI : Alam mo ba na pag nag save ka ng 1,000 a month or 12,000 a year and you invest it in mutual fund or stock market, in 20 years, you will have approximately 1 million?...Check the savings per month above. Mahigit 1,000 a month yun if you only have the descipline to save and invest.

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Unplug all appliances after use

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Unplugged appliance may still consume electricity so make sure to unplug it after  using. That may also cause fire that can lead to a bigger problem.

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Start selling old stuff

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You may want to consider organizing a garage sale to sell your stuff that you no longer use like clothes, shoes, toys, appliance and other personal items. You can use the proceeds for your saving or paying your utility bills. Make sure to monetize every item that we have. For example, you can use your phone to sell load, or perhaps you can make use of your refrigerator to sell processed food or iced candy. If you have a computer at home, you can monetize it by selling  stuff online or try to look for an online job.

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Create a list before you go shopping or groceries...And stick to it

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One of the best ways to save money is to list down everything that you need to buy to avoid impulse buying or unplanned purchases that could ruin your budget.

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Invite friends to your house instead of eating out

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We love hanging out with our friends especially friends we have not seen for a while. Occasionally, we invite them to eat in a restaurant and watch movies. Why not just invite them over to your house and cook your favorite food then you can just watch DVD together. This will definitely save you money and you can bond all day at the comfort of your home.

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Buy in bulk

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Buying in bulk or wholesale is another smart thing to do if you are in the grocery or in a shopping mall especially on things that you frequently use or highly consumable in your household like cooking oil, rice, detergents, etc.Make sure though that you do not buy highly perishable items in bulk. In buying gifts for Christmas, I suggest that you buy it in wholesale based on the same age and sex group. This will give you a huge discount.

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Master the 5-second rule

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Before attempting to make a purchase of a product or services, stop for 5 seconds and ask yourself this question, " Do I really need this?". We may end up buying stuff that we actually do not have the need of.

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Always keep looking forward

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Don’t let the mistakes of your past drag you down into more mistakes. Instead, look ahead to the future. Learn to see past mistakes for what they are – lessons that were meant to teach you something.

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Sometimes the best life lessons are learned through life experience, good or bad, so embrace your past and don’t run from it. Promising to do better and setting goals can help keep mistakes where they belong – in the past.

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SUMMARY

Small changes can lead to big differences.The examples above proves that it is NEVER an excuse why you cannot save a portion of your salary every month. By simply adjusting to your lifestyle, secure your future financially...It may be hard at first but once you get used to it and develop the discipline in you, it will be a part of you daily routine.

Sa buhay natin, meron kang 2 options----Its either mag sacrifice ka ng konti ngayon then mag enjoy ka in the future or mag enjoy ka ngayon at mag suffer ka for the rest of your life..You choose.

On the lighter side, make sure to reward yourself every payday (just like what I do)..It's like giving yourself a tap at the back for doing a great job in saving money..Normally, what I do is every payday, I eat out or treat myself in a restaurant and eat something that I don't normally eat so I don't deprive myself and still enjoy life.

 

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I hope this article helps you guys!