Woot Woot!
- yes! that was me pretending to be a moneygirl! but oh no! that is NOT mine! (although I wish it is!)
- stash of $100 bills fresh from the bank!
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
- Saving the Bella way! :D
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!
Great tips! As a teller in my first job I've handled millions and after a while, they don't feel like money. Just work that need to get done.
ReplyDeleteWhen I was still single, I didn't really put much attention to saving but now that I have 2 kids, am trying my best to practice your tip #2: Control your buying power, haha! Lucky my hubby is very good in budgeting which I am now trying to adapt. He does the same with his credit card, he pays immediately whenever he uses it, earning points in the process.
ReplyDeletethanks for the tips. :D i haven't written my own article yet. :P
ReplyDeleteThanks for sharing! I also like the idea of a debit card and to have the credit card as back-up only. Spend only what you have right?
ReplyDeleteWhoah!That's a lot of money you're holding! Budgeting is never easy. Thanks for the tips!
ReplyDeleteThose are some great tips. I too avoid getting credit as the interest can kill you at times.
ReplyDelete#2 and 5 works well with me. Planning, specially if you plan to purchase something big, will definitely help sot out financial troubles.
ReplyDeleteI badly need the number two these last few weeks, sigh!
ReplyDeleteomg! para saan yan? domi money hahaha Thanks for sharing those tips., I also have a belle jour last year.. :)
ReplyDeleteOO nga sayang yung penalty charge! Imagine how much the banks pulls out of your account in a year diba? Madaya nga ang bank eh. You get so little sa money mo but they take a lot sa penalties.
ReplyDeleteAko din minsan nakukuha ko yung portion nang maintaining. But these days I try to control myself, I make sure my emergency fund is enough kasi nga sayang yung nakukuha nang bank :(
#4 yep that's why even if I want to have a credit card, I'm happy na hindi rin ako qualified XD
We used to have a credit card but cancelled it already when we left KSA. Now, I rather like to use the debit card. It reminds me to spend within our means and budget. Great tips Gerilen.
ReplyDeleteI love the idea of rewarding when one reaches a certain financial goal. I need all the motivation I can get.:)
ReplyDeleteawww! this strikes me :D I love using credit card coz I can have all the stuffs I want in an instant and having a nightmare upon receiving my bills hahaha! -> miss JHENZ http://jeniferbalatico.blogspot.com/2012/08/pepper-n-mint-is-looking-for-online.html
ReplyDeleteI have been tallying my expenses for sometime now and I am sometimes surprised to see purchases I don't really need. This gives me the chance to weed out unnecessary expenditures but sometimes, I splurge consciously too :D
ReplyDeleteGreat tps! I loved your blog!
ReplyDeleteI hope you can check outmy fashion and beauty blog too: www.haylawithlove.blogspot.com
x
Managing finances is really hard especially if you don't have enough to manage. Well anyway, we also have a savings account for our personal savings, a checking account for our house amortization, another savings account for my online shop, and a junior savings account for our son. We realized that by just banking our little extra we just gain few because the interest is so so low. That's why we decided to invest our money on business. So far we are gaining money far more than the interest we are getting from the bank.
ReplyDeleteThese are all great tips! Am also trying my best to live a frugal life but I also reward myself at times to motivate me to work harder. Balance is the key! :)
ReplyDeletewow...woow... money money... I love the number 5 set financial goal. This is very important in order to manage your money and you know what is to buy and not to buy... great tips indeed!
ReplyDeleteHello dear:))
ReplyDeleteI just followed you via GFC, Bloglovin and g+.
Please visit and follow at http://meteobeauty.blogspot.com
yay,I sometimes get the portion of my maintaining balance in my personal accout,,hahahaha.. saving is not easy and I admit I sucks when it comes to budgeting.if I have one thing to be proud of is I haven't touch the account I open to the little one kahit sobrang kailangan ko ng pera..
ReplyDeletegreat tips! I'm avoiding debt trap too. I avoid using my credit card as much as possible. :)
ReplyDeleteGreat tips! I only started having a financial plan when I got married. It never is too late to start having control of your finances but on hindsight, I really should have started saving and investing when I landed my first job. I'd have a fortune already if I had done so.
ReplyDeleteI echo what the others have said, great tips :) Right now, I'm using cash for my purhcases because I have fallen in some credit card debt. But I will get out of it! :)
ReplyDeleteI love the last tip. Setting financial goals.
ReplyDeletei wish i can control my buying power. Whenever i am at the mall, i usually dont care about ot. I just love the idea of getting something for myself. Anyway, you have a nice share
ReplyDeleteHere's mine
http://www.iwriteabout.com/bc-bloggers-meme-5-money-saving-tips/
Wow. Lot's of money. dollars pa! great tips, btw. One must be truly aware how much money one has and how much was spent.
ReplyDeleteI am really not good in saving. But fortunately, I have finally paid up my loan here in this foreign land. Whew! To God be the glory! But have to close my credit card. Anyways that was a practical and doable tips there. I am just so thankful that I have a wife who is so good in terms of money. :)
ReplyDeletegreat money saving tips, thanks for sharing.,..
ReplyDeleteThose are indeed great tips to follow but of course we need to have the will to do it in order to get financial freedom.
ReplyDeleteI'm not good in saving and I have to admit that I can't really control my buying power at times. Thanks for sharing such helpful tips!
ReplyDeletethanks for the tip. my hubby says i'm too stingy. anyhoo, i don't have credit cards. i think i only got two since i started working. one was when i was in sg and my heart pounded wildly if i use it. ow, i am credit card free. no debts. :)
ReplyDelete