Planning ahead is the first and foremost key to saving money effectively. Start saving before you have even left your former abode! If you can’t afford an end of lease cleaner take the time to clean yourself. Fix up any cracks in the walls or stains on the carpet yourself so you get your tenancy bond back and use it for your new off-campus accommodation.
Calculate how much rent, electricity, water, transport and food might cost every week. Factor in entertainment and leisure costs (be realistic!) and make sure you account for any unexpected medical expenses. Take a look at your exam schedules and factor in a lower income for that period, as you may not be able to work as much if you’re studying. Living in shared accommodation with other people is a surefire way to cut rental costs so start thinking about who might be a compatible roommate.
2. Invest immediately in appliances that will cut costs
You’re not going to cook or clean yourself if you don’t have the facilities to do so. While they may be an expense at the time, good quality cookware and a decent vacuum cleaner will last you years. Buying stock cooking products(rice, pasta, olive oil) and core cleaning products (dishwashing liquid, bleach, kitchen spray) in bulk will save you bucket loads in the long run. Likewise, if you live close to campus invest in a bicycle to save on transport costs. Plus you won’t waste money on a gym membership!
3.Teach yourself to be thrifty
Instead of paying someone else to do things; learn how to do it yourself. A huge (and avoidable) expense for college students is eating out or ordering in. Learning to cook is one of the quickest ways to free up your budget. There are plenty of recipes available online and if you’re missing your Mum’s famous chicken pie then call her for the recipeand make it yourself! Avoid handyman costs by learning how to fix and repair things around your home yourself. If you can’t do it; someone on YouTube can.
4. Become an opportunist
Actively seek out opportunities to save on both education and leisure expenses. Check whether you are eligible for any scholarships, grants or governmental assistance. Enter competitions to win concert tickets, look up what night your local cinema has discount tickets, keep an eye out for free festivals and of course; always have pre-drinks at home!
5. Don’t stop saving!
When you have finished your degree and you are coming to the end of your lease don’t stop saving money then.Save money on a removalist by asking some muscly friends to help you relocate! Just because you have spent four years analyzing the fine nuances of English literature doesn’t necessarily mean you will be offered a job the moment you graduate. Keep all these tools in your thrifty tool-kit and use them in your post-graduate journey!
The days of living week to week should be a thing of the past! Blowing all your money on a big night out might be fun, but you’re really shooting yourself in the foot for that trip overseas or sexy new car you've been eyeing off. In an effort to help your dreams come true, we’re offering some free financial advice, so students and those new on the workforce can build themselves a nice little nest egg.
Superannuation - why it’s amazing.
Australia has mandatory superannuation because its good for workers and it’s good for investment. We have a minimum contribution rate (how little you have to give) at 9% of your total pay. As workers, we can opt to make greater contributions to our super fund, increasing our super to 12% can dramatically increase the money left for retirement. Also, you can make a voluntary after-tax contribution could boost your super by 50c for every dollar you add each year with the Government’s co-contribution scheme. An extra $500 in your super each year if you earn under $47,000 a year? Free Money? Yes please!
Get insurance - seriously!
To us, insurance seems like a wank! We continually find ways we cannot justify paying money for something that we can’t see, though young people find themselves needing car and health insurance more frequently than ever. There are even specialised products designed for renters and share houses, so have a peruse and find which is best for you. There are some great insurance services providers for young people, so try iSelect or Lifebroker for financial and insurance advice.
Understand your tax
Understand how much tax you pay and when your tax returns are due. While you can cheaply get your tax return done by yourself, sometimes it’s best to get some advice for a tax agent or accountant. They know what you can claim, how to cut down your expenses and avoiding tax you don’t have to pay! Who pays more tax! There’s an important difference with tax you should be aware of. Tax evasion is when you dodge tax you should be paying. Tax avoidance is taking measures to avoid tax you SHOULDN’T have to pay, your accountant will know the difference.
You’ve got some excellent free advice, but you should always check with a consultant such as LFS Legal and see which superannuation, insurance and tax products suit your situation, so they can tailor a solution that fits your needs.
Have any of you ever tried to save money? It does not really matter what you are saving money at, the most important is to have a goal. You know, I get asked same question from time to time: How can you resist temptation to buy something or maybe to go out once in a while? The answer is simple: I do not resist it. I am just a human after all, in order to keep moving I need to reward myself sometimes. This is the article for those who are in the process of doing some savings. Check the list below; maybe you are going to find something you are not doing, but willing to try right away.
I would recommend starting with simply setting a goal. It is great if you have the answer ready. If you do not, take a time, think of your dreams. It can even be some sort of a childish wish. Dream big! Ok, so this is what I do to have extra money.
- I bet that every third American loves to drink coffee on his/her way to work. Alright, prepare your own coffee. Go to the store, buy a coffee cup and enjoy your home-made coffee every day. Buying a coffee at the local gas station or at the fast food does not seem to be an expensive thing. But try to calculate how much you are spending yearly on a single cup of a coffee? You will be pretty surprise.
- Check where your colleagues live. Maybe someone lives in your neighbourhood or simply on your way to work. This way you can easily save on gas and enjoy somebody’s company.
- Lunch time at work. Try to bring your brown lunch bad at list three times a day. It will save you some money+ you are sure your food is healthy.
- Cook at home. Cooking can become a lot of fun. Gather your family to help you. So what you get: quality family time + no need to pay for your diner somewhere else.
- My next tip is for those who live in a house. Grow your own veggies. Frozen food in a grocery store is not the best choice you can make. Believe me, it is a great feeling to finally see your small harvest.
- Be energy efficient at home. Do not forget to turn of your light every time you leave room. Better idea would be to switch to a solar energy. One time payment will then bring some good results in saving on your monthly bills.
- I know a lot of people who always feel sorry for their old things. They storage them in the garage. This is so wrong! Do not keep old stuff. Remember, most of you will not buy something new until you finally say good buy to the old things. Not only do garage sales, but also participate in somebody’s. You may find pretty useful things for a very reasonable price that your neighbours do not need anymore. See, it is like a circle: you give and you take.
- Think of what you do the best. Do you have any hobbies? Maybe you can make some extra money doing something you have passion for.
- Credit cards are the biggest problem in the US. Do not get caught by all the fee credit cards. Do not overload yourself with 4, 5 or even 6 cards. Use them only for big purchases. Do not forget to make in time payments.
- Sales….Yes, they are difficult to resist sometimes. Be strong and learn how to prioritize things. Do not buy another fancy accessory for your car or a new pair of expensive shoes only because these things are on sale now. Some web sites promote lending companies so that people had even bigger desire to buy from them. This is a kind of service created only for emergency situations.
I can give many more examples on how to do savings. But I would like you to understand that it is all up to you. Question everything you do or buy. As I have mentioned already, spoil yourself every once in a while. You deserve this!
Alicia Sanders is a financial expert and writer working with no fax payday loans online.
Manila (Philippine Daily Inquirer/ANN) - The peso strengthened further to its highest level in about four years, ending yesterday's trading day in the 41-to-a-dollar territory.
STOCKS hit a fresh peak yesterday on market hopes of easing by European and US central banks after fresh data showed the global economy hitting a new bump
The Philippine Stock Exchange index (PSEi) rallied by 1.23% or 65.46 points to close at 5,365.70, piercing the 5,360 resistance, while the broader all-share index gained 0.89% or 30.81 points to 3,506.34.
INDEX HEAVYWEIGHT Philippine Long Distance Telephone Co. (PLDT) has moved to distribute cash dividends for holders of its preferred stock, a disclosure to the Philippine Stock Exchange showed yesterday.
“We disclose that at the meeting of the board of directors of PLDT held on July 3, the board declared a final dividend of P0.0027 per day per outstanding share of Series GG 10% Cumulative Convertible Preferred Stock covering the period March 1 to Aug. 30,” the disclosure read.
THE BANGKO Sentral ng Pilipinas (BSP) yesterday said the peso’s appreciation was not yet worrisome but it was watchful of its impact on inflation.
The country’s exporters, meanwhile, said the peso’s appreciation to the P41-per-dollar level has started to hurt, dashing hopes of a recovery from the slump last year.
Are you single? A college student or a twenty-something that wants to save money while studying? Well, you're not alone. When I was studying, I've always wanted to be able to save money so I won't have to depend on my parents for baon. I've always wanted to be independent.
Perhaps aside from saving money, you wish to be know where to invest and how to get started in the first place. Even if I'm already working and out of school, I still struggle each day to save money and want to achieve financial freedom. Thus, I have established a place where I share my experiences on saving money, how I overcome the distractions that comes my way and learned how pride could actually prevent us from getting to our goals.
May I invite you to my new blog, Saving is Sexy. You will love the regular saving is sexy photos I share on Facebook and Twitter too!
Priceless Tips from Warren Buffet
While we're on it, below are just some of the most priceless gems on how to build wealth from Warren Buffett.
RCBC Bankard has just recently launched their newest credit card – the RCBC Bankard Visa Infinite. It is a premium lifestyle card that will bring shopping fun to a new and more exciting level.
Called the RCBC Bankard Visa Infinite, it carries unique features that not only make shopping infinitely fun but definitely easy on the pocket. If you like to travel and shop, then this card is for you! The Card brand ambassador is Lexi Schulze.
Always on the forefront of innovative credit card products (I've previously write about RCBC Mercury Drug MyWallet Card) that make life easier and more convenient for cardholders, leading credit card brand RCBC Bankard has come up with yet another new addition to its wide roster of cards – the RCBC Bankard Visa Infinite card. A premium lifestyle card, this newest RCBC Bankard product to be launched in the market offers unique shopping and travel perks not commonly found in other premium credit card brands.
For one thing, it combines the strength and wide purchasing power of the Visa brand with the stability and innovative spirit of the RCBC Bankard brand. As a premium lifestyle card, RCBC Bankard Visa Infinite provides access to special privileges and rewarding experiences, here and abroad and gives its discriminating cardholders value for every charge they make because of the rebate and savings the card generates for them.
Discover the infinite joys of shopping with RCBC Bankard Visa Infinite’s exciting and unique exclusive features that include: •A 5% rebate on clothing and apparel transactions at all retail shops; and •No service fee for foreign currency transactions thereby generating savings for you when you use your card to shop or travel abroad.
In addition to these exclusive features, the RCBC Bankard Visa Infinite also offers the following exciting privileges:
•Travel Accident Insurance of up to P 20 million •Emergency Travel Medical Insurance of up to P 2 million •Emergency Evacuation and Repatriation •Access to over 600 Airport VIP Lounges worldwide through the Priority Pass Airport Lounge •Use of International Phone Service •Rewards points for every purchase •Global Visa Infinite Privileges
As Bankard President & CEO, Oscar B. Biason proudly avers, “We are very excited about the launch of our newest premium card in the market – the RCBC Bankard Visa Infinite – because we are certain that it will change the way cardholders view the premium card. Not a stiff or serious card, the RCBC Bankard Visa Infinite will make shopping and travel both fun and rewarding for its cardholders. This we can guarantee.”
Iain Jamieson, Country Manager, Philippines, and Guam, Visa, said: “The Visa Infinite card represents the absolute pinnacle of Visa cards and as such offers benefits and rewards that will certainly fit the discerning lifestyles of RCBC Bankard’s premium customers. A Visa Infinite card can provide access to a wide range of memorable privileges and experiences both at home and abroad. We have partnered with some of the world’s leading luxury specialists to develop a range of exciting offers and packages, so whether it’s an overseas shopping trip, a relaxing weekend escape or a round of golf – RCBC Bankard Visa Infinite cardholders will be spoilt for choice.”
To make the entry of the card in the market even more exciting, Bankard is giving out free Limited-Edition Garment Bags to the first 1,000 RCBC Bankard Visa Infinite cardholders.
Learn more about this exciting new RCBC Bankard credit card by logging on to www.RCBCBankard.com. You can also call the Customer Service at 888-1-888 to apply or go here for details on how to apply.
With RCBC Bankard Visa Infinite, you will understand what shopping fun really means.
While trying to reach my financial goals in life, there are several people that I look up to for inspiration and motivation. One of them is the ultimate finance genius - Warrenn Buffett.
If you're like me and you've always wondered how did he acquire his wealth, how does he make such intelligent financial decisions, below are just some gold nuggets that if only we could all follow, we would all enjoy a much more bountiful and comfortable life. His ways are not always the easiest, but always worth the try.
Thank you Issa of You Want to be Rich for sharing this gold nugget on your Wall.
Perhaps one of the most precious gifts one could ever give to oneself, his family and his posterity is to become debt-free. Every person's situation may be different from the others and some may find it a little more difficult than others. However, things will start to change as your perspective and decisions do.
If you and your family have been spending and borrowing money like crazy, perhaps give yourself a gift of being debt-free before the year ends. Instead of trying to scroll down a long list of gifts you wish to have or give your loved ones for Christmas or a very special occasion, why not give them and yourself a gift that is much more important - that is being debt free.
It may not be easy, but it's definitely worth it. It may not be fancy, but the happiness and peace that you will feel would definitely be priceless.
Now before I start sounding so idealistic, I admit we had a few share of debts in the past too. My father died at the age of 44 that we were left with debts and eventually a pile of a few more debts. It was difficult for us to pay those debts because my mom didn't really have a white-collar job or a stable income and I was studying during that time. Everyday was a struggle to survive and it seems like the only way to do so is to be in debt.
The feeling is depending so much in debt just to survive was killing me that I decided that once I get a job after college, I would work hard to paying them off. At first it was tempting not to pay them because the money I earned could have been spent on things I never had and always wanted in the past. But that is not the design that leads to guilt-free and happy life. Right there and then and decided that I want to be debt-free and that the priceless feeling it gives is much more important that the fleeting pleasure the material things I could buy with the money I should have spent paying my debts. Since we had a meager budget enough only for our daily expenses, we had little wants in life as well and that makes it much easier for us to pay off our debt. We're not the type of people who would pay off one debt with another. We didn't want to be in the same path again so as soon as I had enough money from my savings, me and my mom decided to pay off all of our debts. Below are just some of the steps you may want to consider following so you too can start living a debt and worry-free life.
1. Save. Save. Save
While it may sound basic, saving is still the first step that one should take to become debt-free. Where else would you expect to get the money to pay off your debts but in your savings? If you're still unsure on how you could save some money, my frugal mom has given me some tips on how to save effectively.
2. Set a goal daily, weekly, monthly and eventually debt-free.
The battle and struggle to become debt-free has never been so important than it is now. Even great countries such as Greece are struggling with their debts but this does not mean you cannot succeed in it. The journey towards becoming debt-free would not start unless you start making goals. I remember me and my mom would sit together and discuss as to which debt do we pay off first. Just because you have a lot debts doesn't mean you have to pay them all at once. You can start paying off the ones that have been long due or maybe the smallest ones first - you decide whichever do you think is much easier for you to pay.
3. Debt is your enemy
It is very important to abstain from any other debts during and even after paying your debts. Simple, consider debt as you enemy. Never has it become your ally. Its goal is to put you into a modern slavery that would forever put you into misery. Sell your assets if you must, reduce your expenses to cater to your basic needs and put off the wants. There are several ways to get to that road of debt-free life.
You just need to start it now.
Thank You EnemyofDebt.com for the Financial Peace University Kit (FPU)
Thank you so much Brad for the great books that will definitely become great resources as I live a debt-free life :) Thanks to Sir Remy Ocampo for sending it over and making sure it the package arrives safely to me, you both rock!
Financial Peace University Membership Kit by Dave Ramsey (lifetime membership to ANY FPU!)
The “I’m Debt Free” Game
More Than Enough – The 10 keys to changing your financial destiny by Dave Ramsey
The Money Answer Book – Quick Answers to your everyday financial questions by Dave Ramsey
Priceless – Straight-shooting, no-frills financial wisdom by Dave Ramsey
Do More While the Sun Shines DaveRamsey.com t-shirt
Lead Without Limits DaveRamsey.com t-shirt
and of course the IH8 DEBT Bumper Stickers!
IH8 DEBT Bumper Stickers
The Money Answer Book – Quick Answers to your everyday financial questions by Dave Ramsey
More Than Enough – The 10 keys to changing your financial destiny by Dave Ramsey
Priceless – Straight-shooting, no-frills financial wisdom by Dave Ramsey
Ilocanos are known to be frugal. They're like to local version of Chinese people whose religion is to save money for the rainy days. Moms frugality has helped me turn my P100 to 100,000 and she's a perfect example of someone knows what she wants and how to control them - not the other way around.
Below are 15 frugal ways of living that I learned from my Ilocana mom.
1. Buy only what you need
Mom believes that you can survive by getting only what you need while those you like will only complicate life whether you get them or not.
2. Don't keep a wallet
Never in my whole life did I see my mom with a wallet. She believes that once you lose your wallet with all your fortunes on it (identification documents, money, cards, etc), you will lose them all at once. It's like letting someone who finds it winning a lottery in a heartbeat.
3. Buy shorts with deep pockets
Since my mom doesn't have a wallet, she likes to buy shorts with really deep pockets. Deep enough for coins and a few bills that she would need when she buys the grocery or her fare but not too deep to take with her all her savings.
4. Prioritize needs before wants
When I ask for something from my mom, she would always ask me if I really need it. When I couldn't provide her with the right answer, she couldn't provide me with the item.
5. Don't eat in fastfood stores
Fastfood stores don't make you healthy. You only make the franchisee's pockets healthy.
6. Love vegetables
No, you don't have to be a vegetarian. You just need to be a self disciplinarian.
7. Don't go branded
Carry the clothes you wear, not the other way around.
8. Take short, quick local vacations
We all love to take vacations but if you love your life, why would you want a vacation away from it?
9. Eat before you go to the mall
Malls were designed to be wide to exhaust you and thefastfoods were designed to be to the "rescue". Go back to rule number 5.
10. Window shopping before you actually go shopping
Chances are, once you get tired walking and and looking at what you want to buy, you would realize that you don't really need to buy it. Try window shopping for like the whole day and once you get tired and go home, you will learn that satisfying your stomach is much more urgent than satisfying the whim for a pair of new shoes.
11. Don't be ashamed to walk
Those who don't pay their fare are the ones who should be ashamed.
12. Don't stress yourself to learn how to use a cellphone
People will still contact you anyway. As in any way.
13. Eat on time. Don't eat too much.
No extra meals. No extra expenses.
14. Save P1 per day
How many days in a week, in a month, in a year? One peso per day may sound ridiculous today but one day you'd be surprise once you break that piggy bank after several years of faithfully filling it daily.
15. Have more goals and fewer likes
Focus on the things that you wish to achieve rather than the ones you wish to have.
My mom has faithfully lived those frugal ways to save and her ways may seem impossible for some but her ways have helped us to do what seems to be impossible - to turn the P100 to P100,000 in 10 steps.
If you're dead serious about wanting to save some cash for your future, you might want to look at why and how Chinese do it. Chinese people save more than a third of their total incomes. When you come to think of it, it is way more than Americans, for example, who currently set aside just 5% of their incomes. Chinese have a personal savings rate of 25 percent and a national savings rate (which includes corporate savings) of 47 percent in 2005.
Growing up in a small town wherein most establishments are owned by Chinese people, I developed a notion that they are rich people. Later did I learn that not all Chinese are born with silver spoon in their mouth and most of them actually earned and saved their way to where they are now.
China ranks #53 worst worldwide in terms of income inequality, with a Gini index (measuring wealth inequality) of 41.5. In comparison, the U.S. ranks #40 worst with a Gini index of 40. [ CIA World Factbook, accessed March 2011 ] viaChina-Mike.com
There were actually stories from my older colleagues that during the Marcos era, Chinese people actually moved in the Philippines to serve wealthy Filipinos. It's funny how the times and tables have turned today.
In 2008 a study by St.Louis, China’s saving rate is one of the highest in the world. The figure below shows that China’s personal saving rate is about 25 percent and national saving is roughly 47 percent of GDP (in 2005, compared with 0.5 percent personal saving and 12 percent national saving in the United States)—and these savings rates have increased in recent years.
Why Do Chinese People Save?
While there may be the usual social security reasons as to why Chinese people are saving more than they are spending caused by their dilapidated social welfare system causing fear and the need to save for their health care, social safety and private education and many other services that are supposed to be covered by the government, below are just 3 of the most intriguing reasons that affect their spending and investing habits.
1. Mortgage
Chinese men find mortgages a prerequisite for marriage which explains why China is currently facing a problem with having too many single men. Yang Jiah, along with other Chinese men, believe that their ticket to getting married to a decent Chinese girl is to own a nice property.
One of the strongest motivations why I currently save more than I spend is that I want to save for the rent-to-own house which we will hopefully move in on September this year. However, unlike those Chinese men, I am saving for this property because it has always been a dream since I was a kid. I grew up like an NPA (No Permanent Address) because me and my mom would always transfer from one place to another. Such situation has helped me to become inspired to really work hard and strive to change it.
2. Wedding
The first motivation for Chinese to save for a property is actually linked to their second strongest motivation which is in order to be married, they need to save enough money. According to BBC, "Every year in China more than ten million couples tie the knot. Weddings are a multi-billion-dollar business and expenses for the big day can quickly spiral out of control."
3. Luxury
China is world’s second largest consumer market for luxury goods, behind only Japan (after passing the U.S. in 2009) and expected to be bigger than that of Japan by 2014.
China's saving and spending habits are clearly being greatly affected by their being family-oriented. You can see that most of them save for the wedding, parents retirement and the kids education. May I encourage you to think of something you want to improve in your life and make it your biggest motivation and source of strength as you journey towards saving for your future so it will be easier for you to be focused in reaching such goal and would make the journey worthwhile.
While there's no easy and quick way to turn your money into bigger amounts and longer digits, it is always possible to reach your goal once you put your dedication to it. There is no magic trick either. The way I turned my Php100 to Php100,000 is not from some get rich quick money investment scheme.
The journey to getting more than you currently have without sacrificing too much is both fun, challenging and fulfilling. The following tips which I will be giving to you are the steps which I took in order for me to turn my meager money into the amount that I wanted to have.
Everyone Can Have 100,000
The main purpose of this article is not to brag but to demonstrate that once you dedicate your mind and actions into something you want to accomplish, you would be able to do so. May it also serve as an inspiration to those my age that no matter in what situation you are, you would be able to reach your goal as long as you constantly work on it and believe in yourself.
1. Find someone who can inspire you to reach your goal
What drives a person to constantly work on his goal is to have someone inspire and constantly motivate them to keep doing and keep going where they want to. I have been working in a call center for over 6 months when a friend asked me how much money was I able to save. Since it was my first ever full-time job, I wanted to reward myself with various things that I want so I splurged my salary into various bags, shoes and dresses that I could lay my eyes on. Then the reality hit me when my friend asked me about my savings. I felt guilty that I haven't even taken any step or effort to try and save because I indulged into buying the things I thought I deserve.
From that time on, I was like a drug addict who decided to quit what I was addicted to. Trust me, it was difficult. Especially when I pass by boutiques that display the latest fashionable bags and shoes!
However, I have already decided. It may not be easy, but it IS possible.
Find someone who could push you to your limit and constantly motivate you to work out on your goal. Later on, it has also helped me when I added my mom to my inspirations since we live in the same house and she would always follow up on my goal. Think of someone whom you feel that inspires you to be better.
It could be your boyfriend, your best friend, your pet, your teacher. Just think of anyone. Do it. Now!
2. Opening a Bank Account - Not the ATM
Getting to my goal wouldn't be possible had it not been for the steps which I took after that single most important decision to save. Clutching my Php100, I opened a savings account with a local bank. Don't open an ATM account! You would be easily tempted to withdraw your savings with such an easy access. It would defeat the purpose of saving. Also, opening a regular savings account requires lower maintaining balance when compared to that of ATM account.
3. I Got a Savings Account...Now What?
Just like everyone else, I struggled keeping up with my goal. You know my story. I don't have rich mom and dad to turn to when I don't have money to put on my piggy bank. Just like you, I wondered if my savings account would survive.
4. Frugality goes a long way
Remember my addiction to shoes? I quit that. I also made sure that I differentiate the need from my wants. The needs needed to be taken cared of while the wants needed to be cut off. Everyday I would remind myself of the 6 digits of the money which I always wanted to get my hands on. Every day I would go to work with much clearer purpose that I want to save. When I got my salary the next month, I paid my tithing, paid my bills, bought my essentials and everything went straight to my savings account.
No more new shoes since I only have a couple of feet to wear them so why invest in twenty? No more new bags. I only have two shoulders that could carry them. With that thought in mind, it was much easier not to give in to the temptation of buying new things.
5. You can skip meals but not your savings
No, I don't really encourage skipping meals but you get the idea. Skip your favorite TV show if you must but never skip a month without putting a few bills on your savings account. Once you skip, you will be tempted to skip a few more, then a few more months until you get used to the habit of skipping to the point that you will no longer to dedicated to save. Trust me, skipping is just as addictive as shopping.
6. Monitor and compare
Do not be afraid nor be discouraged to monitor your savings. Sometimes the amount for a specific amount could be higher than the others but don't be sad. Instead be glad that you are able to save more in some months than the other but don't rest on your laurels either. Monitoring your savings will also help you to assess what extra mile have you done for a specific month why you were able to save much more than the others.
7. Let your inspiration be your constant motivation
Remember the inspiration I told you about? There would be times in your saving journey when you would constantly tempted to splurge into unnecessary things again. However, you could bank on your inspiration and turn it into your constant motivate to battle those temptations. Since my mom is one of my inspirations, I would always talk to her about my goals and being ever supportive that she is, she would always remind me when I tend to forget. Talk with your inspiration and let them know about your plans so they could assist in reminding or helping you reach your goal.
To give you an inspiration on how one could constantly be motivated, kindly watch the video of how a young man rose above all the trials in his life and eventually became an inspiration to millions. Despite how difficult the goal may be, you are given the ability to be able to get through all the challenges and eventually reach your goal.
8. Get a job and a second job
In my article 3 Effective and Practical Ways of Saving Money, I emphasized the importance of having a job and a second job. There is no way I would be able to reach my goal of turning my 100 into 100,000 if I didn't have the income to eventually save. Think of a hobby or skill that you have which you could eventually monetize on such as cooking, writing, sewing or just about any skill that you could make money from. Don't waste time, be sure to get a job that requires such skill.
9. Invest in the stock market
I only learned about how investing in the stock market while you are young in the latter part of my journey. I wish I knew about it sooner so I could have turned my 100 to 200,000 or maybe 500,000 - the possibilities are endless. (The greater the risk too, I must say ;) Investing in the stock will not only help you increase your money but it will also help boost your country's economy. It will teach many principles on how to better manage your finances and will also teach you on how to better disciple yourself, develop entrepreneurial mindset and of course, be able to gain more returns on your investment (ROI).
10. There's no magic trick
I told you, there's no magic trick in turning your 100 to 100,000. You just need to have that goal and constantly work on it. Last year, I was able to withdraw P110,000.00 from my savings from my savings account in order to pay for my rent-to-own townhouse's down payment.
May this inspire you to make the most of what you have - whether it be talent, trust or money. Be sure to make it a goal to double, triple or to multiply what you have by deciding what you want, identify steps on how to achieve them and be undaunted when challenges come - for surely they will. And yes, your Php100 could be turned into Php100,000. I just did! :)
ATM with Suki Points with RCBC Mercury Drug MyWallet Card
RCBC has partnered with the leading drugstore in the Philippines to help Filipinos enjoy an ATM card with the rewards of Mercury Suki points with the all new Mercury Drug MyWallet Card. The card gives its holders the ability to use it as an ATM card and enjoy Suki points that has long been enjoyed by Mercury Drug Store Suki Card holders.
Ellen, with her Mercury MyWallet Card
In a press release by RCBC, Iain Jamieson, Country Manager, Philippines and Guam, Visa, said: "Mercury Drug MyWallet card is the first prepaid card in the Philippines that uses chip technology to allow cardholders to collect reward points with their purchases at Mercury Drug. The card is Visa powered and that means you could actually use it as normal ATM card and withdraw and process transactions in over 18,000 Bancnet POS merchants and over 70,000 Visa-accepting establishments in the Philippines.
Locally, cardholders can perform other transactions such as bills payment at any of over 600 RCBC and RCBC Savings Bank ATMs and more than 4,500 other BancNet-affiliated ATMs nationwide.
Being Visa-enabled, the new card can be taken and used abroad to enable cardholder to access their accounts, withdraw funds, and conveniently purchase goods via its debit card function from over 30 million Visa accredited merchants worldwide and more than 1.7 million VISA-bearing ATM locations worldwide.
What's even more amazingly convenient is that this new Mercury Drug MyWallet card can be used to pay for fares at select MRT stations. The card can just be tapped on a card-reader located directly at the station turnstiles to allow users to board in and out without having to line up at the payment booths.
The Mercury Drug MyWallet card in general is ideal for those who have no bank deposit accounts but want a safe and convenient storage facility that lets them access their cash anytime, anywhere they want. It has no finance or interest charges, and no required monthly maintaining balance, so cardholders can keep as little as P100 or any amount to get them through their day, up to a maximum of P100,000 per month. The loading fee is only P10 per transaction.
I love the idea of the new Mercury Drug MyWallet because I could actually open an account with RCBC and if I want to go on a trip abroad, I could have access to my local funds here since it is Visa powered card. When asked as to why did she get a card, my officemate, Ellen, said that she likes the idea of having an account wherein she could keep her money safe without worrying for a maintaining balance and get to enjoy points from her purchases in Mercury Drug. RCBC has just pioneered in providing a way for Filipinos to shop conveniently and get to earn rewards for doing so!
For more details about the Mercury Drug MyWallet Card, simply go to RCBC's press release.
