4 Crucial Reasons Why You Should Start Saving Today

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Most Filipinos do not save for the rainy days because they spend their salaries on mortgages or other unnecessary expenses such as eating out on payday and lavish celebrations in the household or at the office.

This might give us instant gratification but this will rob us of savings that we can use as the need for cash arises. Need for cash doesn’t mean impulse buys but important events that require money immediately.

Save 5,000 and Up by Dropping these Luxuries

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You might not notice this but you might be losing a small fortune because of these so called luxuries. Though it might be minor, these indulgences can add up rather quickly. And when we sum it all up, it could mean a really huge difference.

That is why it would be very important that we get to re-examine whether our hard earned money are going over these everyday luxuries. Even more, re-evaluate your spending so that your money won’t dry up because of these unnecessary treats. Do remember a quote from Benjamin Franklin: beware of little expenses, a small leak will sink a great ship.

How I Was Able to Pay My Debts Using the Snowball Method

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Last time, I blogged about how I was able to pay my debt that is 5x my salary. I particularly wrote there devising your payment methods in order to pay your debts.

Here’s my mechanics:

“The proper way to do next would be of course to pay the debts. I examined my debts from the different credit cards and from there sort it from the smallest amount to the next. I also wrote down the minimum payments needed. There are varied strategies to pay off your debt. However, as for my case I wanted to tackle the smallest amounts first because such goals are considered small and I know I can be able to complete it in the soonest possible time. Considering that my salary is small as compared to my debt amounts, I see to it to pay the minimum amounts of the other credit cards. Then I leverage and put more value to the smallest credit.”

How my Parents Trained me About Money When I Was Young

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As I shared yesterday, we don’t have much. I know for a fact that my parents struggle whenever it would be time to pay school fees and more. Plus, it was fairly hard back then to provide three meals a day at home. The struggle was real and somehow I was thankful for the journey since I realize the value of money very early.

Too bad, financial education is not taught in school. That is why, it is really the parent’s responsibility to teach their kids money management and personal finance. Though my parent’s expertise in terms of this area is not yet thorough, at least they were able to still give me valuable lessons on money. Until now, those lessons have a crucial role on how I handled my finances.

Teaching Your Kids about Money and Allowance

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Growing up with nothing much in my life most especially in terms of allowance taught me how difficult money is to obtain. Even more, my parents would just give me a very strict allowance per day. And this does not even cover much. But hey I can’t complain I managed.

Since the new school year has arrived, I bet many parents are now in the dilemma whether to give their kids an allowance. I am an advocate of giving them money. Yet, apart from giving them the money, we also need to teach them how to manage the money. Because if they often receive without proper intervention, it would grow in them to receive and receive. They will fail to realize the big responsibility associated with the money. Even more, these allowances can be a good tool to teach your kids about money.

3 Money Challenges To Help You Save

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When it comes to money challenges, we might hover back to the 52 Weeks Money Challenge. However, there are still many money challenges that you might want to check in case you are having difficulty doing the 52 weeks money challenge.

Bottom line, these money challenges will help you to spend less and save more. Hence, if you are keen on saving your money, these money challenges might give you that extra push. Even more, this will help motivate you in order to finish it. As such, here are other three money challenges you might want to face head on.

3 Money Traps We Often Fell Into

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Oh money! I wish it could be easy to keep you. It is just easier to spend you rather than have you.

When it comes to money it is very important that we get to make the most of it. Imagine, you are investing your skills, your time in order to get paid for how many days. That is why you must be able to maximize whatever amount of money you have. However, society seems to make this hard and all the more impossible. It felt like a jungle full of traps. If we are not wary and careful, we might end up losing our hard earned money.

3 Money Rules that I Live By

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Rules are what keeps us aligned with our personal goals. When it comes to my financial goals, I have three money rules that I live by most importantly during pay day. Even more, these money rules made me realize on how I should control my money and more so my spending.

If you don’t have a money rule or two, you might just squander whatever blessings you might have. Even more, you can’t even prioritize the money simply because you don’t have anything to live by. That is why, it is very important that you set ground rules with regards to your money. Remember, this is your money and this is your life. Do something about it and the rules will keep you in check.

5 Excuses Why You Are Not Saving ‘Yet’

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Bob Morrison said, “Saving is about mindset”.

Saving money is solely a personal decision. This is always your call whether you save money or not. This is a financial choice. Yet, many people are still stuck not doing it at all. Even if there are already many financial blogs and financial gurus telling you to save, at the end of the day you are not doing it.

5 Money Moves To Do In Your 30s

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Goodbye 20s hello 30s!

I must admit I am no longer young and that means I have to reevaluate my money and my finances. When you are already at this age, there are already many things you need to consider. For one, you are no longer young and finally, you will now have different priorities.

4 Tips to Save Money on School Supplies

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June is here and when the month comes that spells school. I bet many are already heading to their nearest malls in order to buy important supplies for their kids. This ranges from uniforms to pens, notebooks to paper and the list goes on.

I consider my mother an expert with regards to saving money for school supplies. When I was in my elementary years, we really cannot afford to buy new items because we really don’t have much. And I know for a fact that this serious concerns her every single time.

Our Non-Negotiable Wedding Expenses

Our wedding album

Exactly two days from now, it would be our 3rd Wedding Monthsary. Yes we are cheesy like that and we tend to celebrate monthsaries. Just today, we received our wedding pictures and this is the perfect way to reminisce the ceremony and the celebration.

During the entire wedding preparation, there were times that I would want to go overboard and over budget. After all, there is this voice inside me saying that our wedding would only come once in our lifetime. Cringing and being kuripot should be out of the question. Yet many would advise to prepare the marriage more rather than the wedding.

5 Money Tips I Wish I Have Known Sooner

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In terms of my journey to financial literacy, I can bluntly say that I am late. I have known a lot of my peers who started early and clearly demonstrated success in their finances. Yet as they say, journey to financial independence is a marathon. And one is never too late.

If there’s one thing I regret, it would be not being financially literate when I was younger. If only I could have bumped into these sayings way earlier, I could have established and earned more in the process. If you are reading this, you are in luck as I am sharing the money tips that have moved me and enlightened me towards my financial journey. If you are still young, you are in a very good position my friend. I should say you take these tips to heart.