The prices of commodities are zooming up as fast as the bullet trains. We should take considerations on saving money, petrol, electricity and water and take advantage the free health and community services offered by the government.
On buying thing like clothes or gadgets, we must first ask ourselves if we really need it. Are you familiar in impulse buying? Sometimes, we only buy things just to spend or we think it look good to us. Not clearly thinking if it is essentially important. A typical example, as we walked across the mall, we saw a well-made shirt or dress displayed in a clothing shop. The following day, you saw it again and you're itching to purchase it only to find out that it's expensive, an equivalent to your 3 day rate. You have to ask yourself over and over if we really need it. Do I really need it? What other important things that I could buy with my money right now? Unless if it a birthday present for yourself then buy it. Just kidding...
Tell yourself, yes I want it but I don't really need it right now.
One of the best ways to save up is to a lot 10% from your salary and have it deposited in separate savings account. It would be best not use this money for spending on things rather for emergency purposes only. At least, when the tough times comes, you'll not over-stressed to borrow money from your friends or relatives. You can get from your own savings.
It sounds simple, but having a piggy bank (where you can put a few coins everyday) is another good way to save up. You'll never notice that the coins you invested could turn to a hundred bucks in a week. I have been doing it since I was a kid. I can say it really works.
These are some of simple ways to save money. It's up to you if you want to try it. I believe everyone wants to be financially stable. Aren't we?
Do you have other ideas that you could share to me and to other members? If yes, that would be awesome....
Comments
Hello Abdul,
It's alright with me. It's your opinion, in fact I'm glad that you share your thoughts regarding on this blog. It's been awhile since I heard from you. Glad to have you back here in MyEC! Thanks for commenting.... : )
Dear tnx for tagged me in this blog. I really think that saving money is good but it shouldn't be beyound of our choise, dash and gusto as these have a very high value than saving. hope u didn't mind.
With all due repect
Hi nimmi,
Thank you very much for sharing you tips. I will take a note of this one. It would be nice to be your friend.
hi,
You can assort a fixed amount from your salary for travel,foods,etc: keep a note about you expenses every day. balance can be save.
Hello Expector,
Thank you for sharing your comment here. I know Chinese people here who are good at managing their finances and doing well in their chosen business. I can say it is a good example to Filipinos to adopt that attitude. I hope you're doing great
Sorry I somehow missed this nice blog!
I know Chinese are good at saving. They are always prepared for the worst situation. They had very hard period of time in the past, so they know they should save up just in case!
Hi Do,
How are you Do? I'm glad that you found this blog useful. You're right, sometimes, it is hard to give in to temptation of spending. Knowing our priority and necessity would help us determine the right purchases. Especially if it is a hard-earned money.
Thank you for sharing your thoughts regarding this blog. Have a great time.
Hi Fernando,
Hello my new friend? Thank you very much for sharing your thoughts regarding this blog. I agree with you, monitoring our accounts and keeping them visible would help us manage our finances. It's a nice tip too. Thanks also for adding me as your friend.
Hello Sally,
How's your day my friend? Thank you for responding on this blog and for complimenting me. I think all of us have experienced financial difficulty on some point of our life. I think I learned from my experiences and from others. You could do the same. You have to prioritize your spending habits, knowing which things that you could use importantly. Gerardo's suggestions could also help us manage our money. If I'm not mistaken, I read in a magazine that if you have a money, it is better not to spend it right away if you don't know what to buy or purchase, instead have a plan for it.
I hope that you come up with the right decisions on spending. Take care...
@ Gerardo,
Thanks my friend for sharing your thoughts on my blog. I'm glad that you really know how to handle your finances. The example I cited here, is for shopaholics like me. Before I purchase something I will see to it that it is really important. Your lucky, you have 2 credit cards, but I prefer to use debit cards because I don't have to pay for interests. It is OK to use a credit card as long as you have a discipline on spending and not to exceed your credit limit. Paying its due date will keep you at ease and don't have to worry the next spending.
I agree with you, your not getting rich on just saving. You need to have a concrete plan on a business you like to have and study the pros and cons on investments. Research the target market and have the passion and belief on the business that you'd like to achieve. It requires hard work and discipline in achieving success whether business or personal life.
Thanks again for your great ideas, at least I learn something... Take care.
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