Saving habits are the result of self-discipline. Everyone should save because, as the saying goes, “whatever is put in, something will be taken out.” “Save for the rainy season” is another proverb that means to save something that can be used in times of need.
What the hell to collect, always money, right? Because money is used in all aspects of trade during this time period. In economics, this is referred to as a universal passport. When you have money, you can truly live a luxurious life. You can buy both what you need and what you want. You will also receive excellent service and be able to travel to your destination.
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How can I save money? That’s a good question, isn’t it? Many people today openly admit that they are spendthrifts, or that they do not save anything. It’s like when you get money, it disappears quickly, possibly because it was spent on necessities. It could also have been spent on luxury, but let’s not get into that. Let’s look at how we can save in this article. This is crucial for everyone, but especially for OFWs.
It should only be if you intend to save that you have something to save. When you don’t have a job and no income, you won’t be able to save anything, no matter how hard you try. Right? Find a decent job; it may be difficult at the moment. That is why I advise students to study hard and improve their grades. When you complete a course, you will have a great chance of landing a good job. If you haven’t finished your studies, you can contact TESDA to see if they have any crash courses available. Automotive, computer courses, appliance repair, and other skills are examples of in-demand skills both locally and internationally. If there are no opportunities in our country, consider going abroad.
2. Live within your means
We should live within our means. Is this correct? Don’t be a one-day millionaire. Use the adage, “While the blanket is short, if you are patient, it will curl.” Take it easy when it’s long enough. This entails being thrifty. Don’t buy something if you can’t afford it. There are some things that can be put off. For example, suppose you earn $8,000 per month. Learn how to properly budget. Remember that the majority of the budget is for food, bills, and children’s education. Plan your spending carefully, and don’t forget to save, even if it’s a small amount. If you save 100 pesos per month from those eight thousand, You have 1,200 pesos in a year, right? It’s better than always running out. If you can, you should follow the 70/20/10 rule.
3. Do not accept installment payments
Many people find it difficult to say no to salespeople. It’s also advantageous that we can construct tools and equipment. But pay close attention. The layer on the installments is massive, sometimes accounting for more than half of the profit.
4. Properly examine the wants and needs
Needs, that is, things you can’t live without, are those things, right? Food, shelter, and clothing are the three basic human needs. Make certain to meet them. Another desire is for things that make life easier and more enjoyable. Prioritize needs over wants.
5. Avoid being a shopaholic
He he, shopping is addictive, isn’t it? When that becomes a habit, there is nothing left to save. There is never a shortage of good things on the market. The more you shop, the more you want to fill your cart with everything your eyes desire.
Make a shopping list before you go to the mall or the grocery store. Buy nothing that isn’t on the list. Also, don’t bring too much money; if you’ve bought everything you need and still have a lot of money left over, you’re more likely to go back and buy things you didn’t plan on. Don’t be an impulsive buyer; you’re not going to buy just because your car is available. You’ll get it not because the salesman is good at promoting. If you have a lot of money, you can go with your shopaholic friends. What if your salary isn’t all that great? It’s all gone now.
6. Keep a piggy bank
Saving with a piggy bank is a type of saving. This is also a good example for children to follow.
7. Say No to Luxury
Of course, you’re saving money, so don’t go overboard. To save money, instead of eating out at expensive restaurants, simply cook at home. Instead of the 3,000 peso bag, wouldn’t it be better to buy the 500 peso bag? The bag is the same. It’s best to shop in Bagsakan or Divisoria, but you can also go to Wagwagan and Ukay-Ukay to save even more money.
8. Avoid expensive vices like smoking, drinking, womanizing, and gambling
Simply save the money you would have spent on those vices, and you will have saved a lot by the end of the year. Is it all right?
9. Spend and invest wisely
Spending and investing should both be done with caution.
10. Do not send the entire salary
Are you an OFW? Listen, save for yourself instead of sending everything to the Philippines, please. You already understand why.
Saving is necessary for our future well-being. It is also critical to instill this in our children. I hope you start saving this year, friend.