What would you do to save more money? This is simply controlling any temptation from being a compulsive consumer, which is one of the major factors why you are spending more than you could earn. But then how can you save your money from a scratch? This is when you will start buying simple money saving equipment or paraphernalia for you to earn more. Examples could be your personal piggy bank, personalized storage, and improvised containers to place your savings aside from your bank account. If you are really serious in saving more money than spending it, you will gradually notice that your savings start to grow week by week.
Saving your money is one way of having a new backup plan in order to ensure that you will have an alternative saving account. This is regarded an alternative savings plan so that if your current savings account from your bank will be compromised due to an unexpected and immediate circumstance, you will not rely on your immediate family members or relatives to rescue you whenever you are in need of financial support. If you do this as part of your regular routine, you will always have a rewarding outcome every end of the year. Just imagine that saving money could mean that you are giving yourself a bonus whenever Christmas season comes.
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| Saving more money could let you invest your future |
For the case of JB Dionisio, he is just one of the few who made it successful for generating at least Php 69,000 in just 52 weeks. He followed the trick suggested by the 52 Week Money Challenge by the Kuripot Pinay Version. JB started saving on the first day of January of 2016 until June of 2016, which basically took him just only 26 weeks. But the thing is, JB already gained a whopping amount, which is already enough for him to buy luxurious items. These include gadgets, investments for insurances, travel, and buying furniture to his home. If you are a fan of watching live beauty pageants, you can also learn at least 5 financial tips before buying Miss Universe 2016 tickets.
The 52-week money saving challenge is one of the few strategies that you can do in order to save more money. The mechanics of this strategy is to save using an incrementing 50 pesos or $1 dollar every week. Example for the first week is that you will be depositing is 50 pesos for the first week, the second week is 100, the third is 150, the fourth is 200, and so forth. If you already reached 1000th Php mark and you could no longer save more than that in a certain week due to your monthly expenses for your house bills, insurance, and other miscellaneous fees, this is the time for you to check out the total earnings of your piggy bank.
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5 Money Saving Tips to generate as much as Php 69,000 or US $1380 in 52 weeks
1. Avoid or reduce eating out: If you are really serious about saving more money, you should control yourself from eating to restaurants, fast foods, or coffee shops. Many of us are not aware that eating out to restaurants are one of the main leading causes of overspending. This is like spending more than you could earn especially for socialites who wants to brand themselves to other individuals. For example, one coffee is already worth between 25 to 120 pesos, which is already expensive enough to cut out your daily wage when you break down your total salary for the whole month.
2. Patronize your old gadgets while it still works: If you know how to take care and manage your gadgets, it can last for several years. While they are still working, you can still use them to communicate with your loved ones. If you go out to attend a special occasion, you can bring your old gadget and save your newly bought gadget at home to prevent it from being stolen, for as long as you kept it in a secret storage in your room so that home invaders will not locate your gadgets and steal your valuables while you are away from home.
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3. Reduce or avoid going to bars: With the exception of mandatory Christmas Parties, one year anniversaries, or attending weddings, you should prevent going out to bars, clubs, pubs, or disco. This is because it is where you spend thousands of pesos or hundreds of dollars in just one night. Going to these recreational areas are some of the most expensive ways to waste your money. Aside from alcoholic beverages, you are there to pay for the entrance fees, drinks, food, or stimulating inhalants. Avoiding bars could transform your expenses into savings, which could also save you from health risks.
4. Start living a healthy lifestyle: For many who may not know, having a healthy lifestyle can also save you more money. This can be done when you start having an exercise, which could improve your metabolism, strengthen your blood circulation, and promotes proper respiratory perfusion. Eating foods high in fibers could help improve your digestion and metabolism. If you maintain a healthy lifestyle, you will be spared from paying your bills when you go schedule yourself for a medical consultation that usually costs tens of thousands of pesos. Always remember, paying bills even just in a few days of hospital confinement could cost you hundreds of thousands, which is way too much expensive.
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5. Save at least between 5 to 20% of your total salary: If you really want to save more, you should start saving from now on by cutting your expenses of at least between 5 to 20 %. If you can do this simple saving tip, you can easily generate even more than 70K after 6 months. If you combine it with the savings from your incrementing piggy bank savings, you can double your savings in 6 months if you are really serious about saving your money. If you are consistent with this routine, you can be an inspiration to your friends and strangers who discover the way you are saving your money on a long-term basis.
The only recipe is patience and perseverance. If you are committed saving your money as well as to fulfill a particular goal, you will be able to achieve it just in time. Saving is always a practice that has been neglected by many due to temptation as well as having personality issues on trying to impress something while they suffer financially. Being patient takes time before you will receive the most rewarding moment when your savings becomes investments for you to achieve your goals that could further motivate you to stay productive.
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