I'm joining a BC Bloggers meme after a long while. (〃＾-＾) [Read my first post: Things that make me happy.] There's one every week. So you can choose which topics to blog about. Join our blog community and meet awesome people!
I'm a fan of personal finance articles. I read them although they're quite boring. I don't have endless wads of cash so I can only make do with what I have. *laughs* I am hoping to add more steps to my process. I know the title says "saving tips" but what I'm going to share is how I budget my money. My actual savings amount to only 10% of my monthly budget.
1. Divide budget into magic jars. Or in my case just the compartments in my wallet & several bank accounts. I learned this method from Miriam Quiambao. That's how I can afford my lifestyle. This way I don't ever feel guilty when I splurge on stuff like CD's, books, art, home furnishings etc.
Live 50%, Savings 10%, Learn 10%, Luxury 10%, Play 10%, Share 10%
2. Invest big time. My only real investment is this house. Which is why I can't afford anything else. I don't want to juggle between different financial obligations *lol*. What am I to do if I suddenly can't afford to pay all of them. Better to channel all my energy on one thing first.
3. Live within your budget. Don't use money meant for something else. Unless you can replace it right away. My wishlist almost always exceed the money I put on my Luxury jar. It takes all my self-control not to use the money in other jars. It's ok, this sacrifice is needed to form good habits.
4. Find a long-term savings plan. I'm thinking of purchasing an insurance plan (with added savings). I'm hesitating because I don't want to lose the little money I have :( how heartbreaking that would be.
5. Bring in more money. It wouldn't hurt to have more. If there's a chance to do an OT [syempre paid dapat!] Go! Or open up a small business. You can sell pretty much anything on the internet these days.
And that's my 5 Money saving tips!~ Check out Chin Chin's blog Stay at Home Blessings, she's hosting this week's meme. Let's all learn something new. （＠￣∇￣＠）／ YA〜
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