to be used on our ongoing project! Whew! I wish I had a dollar account too, but for now I wish that my peso savings account has money on it aside from the maintaining balance! Poor me sometimes have to get even the portion of the maintaining balance in times of emergencies hence suffer from the bank's PENALTY of Php300! Well, that's another story. So, moving on...
These are the tips I learned from one of the articles attached on my Belle de jour power planner 2011 and I would like to share these tips to you cause I find these effective to me. <3
Budgeting is easy once you get the hang of it. Start adjusting your money habits now by practicing these rules!
one - BE CONSCIOUS OF YOUR MONEY
tally up savings versus expenses in a month. if numbers exceed the income's digit then its time to pin down some of the spending habits that's damaging your savings and estimate the monthly necessities like rent, electricity, phone bills, food and jot down random splurges on items such as food, clothes, shoes and make up.
two - CONTROL YOUR BUYING POWER
instead of daydreaming, motivate self to becoming more in control of the money. set a limit on how to spend. jeep a ceiling of expenditures hence you can save a portion of the paycheck that you receive.
three - PRACTICE WHAT YOU PREACH
practice being thrifty. prepare food rather than buy. carpooling. walk. remember, even the least effort means a lot when the goal is to save money.
four - AVOID THE DEBT TRAP
sign up for a direct savings account that automatically transfer a fixed amount of your income to your money stash! ;) Just to make savings fun, if you reach a certain amount of savings, reward yourself a debit card instead of another credit card! This way, you could encourage yourself to buy within your financial range rather than impulsively buying now and paying hard with interest!
five - SET FINANCIAL GOALS
be the woman with the money plan! make sure to convert ideas to actions just like dreaming to real success! start by following a weekly budget list, then set off a monthly target. when you know your succeeding, you'll find this goal setting enjoyable! Remember, extra money gives any independent woman a peace of mind! :)
Personally, I'm more on avoiding the debt trap. :) What I do is I use my credit card to purchase items and then put the "cash" intended for the item to the credit card payment of that same month. In that way, I earn points from my credit card while avoiding unnecessary charges and penalty! :)
Hope you learned a thing or two from this post! What's your money savings tips? Share them!
P.S. Curious about BC Blogger? Click the BC Bloggers tab!