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This Woman Shares How She Manage To Save A Lot of Money By Keeping 1 To 100 Pesos Everyday.

We save, basically, because we can't predict the future. Saving money can help you become financially secure and provide a safety net in case of an emergency. Without money put away in savings and/or investments, you open yourself up to other risks as well. For example, not having enough money to pay for emergency dental care may force you into taking a loan that your savings might otherwise have covered.

It’s important that you develop a budget using your net income as it reflects your take-home pay after taxes and dedications. A common mistake people make is developing a budget off of their gross income. It’s a mistake because you're budgeting money you never possessed. Remember your potential savings is the difference between your net income and your expenses. That is why when we saw this woman’s post, we were amazed at how she managed to save a lot of money. Check out her post below.

A woman posted this on her Facebook account. Here is her post:

Ivory Franz Hermosa Ongmanchi - Tipid tipid at the same time maging wais din BESS !!  20,346 in three months. Everyday bago ko matulog , tinatanggal ko sa wallet ko ang mga 1, 5, 10, 20, 50 at 100 pesos (mga natira sa buong araw na nagastos) at itinatabi ko sa kanya kanyang lalagyan bago ko matulog .. hahaha and ayannn naipon ko sya !! Yeheyyy. Ready to deposit na sya para sa savings. Ipon ulit ! šŸ»#TipidChallenge#Forthefuture

According to her, you need to save money every day. Start with small amounts and then follow her routine and then after 3 months you would already see the amount of money saved. The measuring stick for being rich is different depending on who you talk to. However, the one thing that the notion of “being rich or wealthy” means to most people is having financial independence and savings to depend on. Calling your own shots, financially speaking, means having the freedom to make choices in your life separate from earning a paycheque.

This may mean being able to take a vacation whenever you want to, leaving work and going back to school to switch careers, starting your own business or investing in someone else’s start-up, helping family members, taking on a lesser paying job that is more personally satisfying than financially beneficial, or a big one these days - retiring when you want to rather than working because you have to.

Financial independence isn’t the same as being rich, but not having to depend on receiving a certain paycheque can sure make you feel rich beyond your wildest dreams! Having savings that you can rely on is what it takes to become “rich,” no matter how you define it.

With savings, you can buy things when they are on sale and take the time to make better spending choices. People with savings can also stockpile groceries when they are on sale (items that are non-perishable or which can be frozen). One author suggests people who do this can possibly skip one grocery shop a month and save 24% a year on their grocery bill. If you want to have a good, relatively stress-free financial life, you need to save for annual expenses. These may include money for gifts, vacations, vehicle maintenance, minor home repairs, fixing appliances, property taxes and possibly income tax.

The best way to manage these types of expenses is to save for them in advance. This will not only save you money, but it will give you peace of mind. Start today by setting aside a little money each day until you have an emergency savings fund of php500 to php1,000. As life happens and you need to dip into your fund, build it back up. It takes a bit of work, but it's a habit worth getting in to. Follow her routine and maybe in no time, you’ll be financially stable.

What do you think about this? Share us your thoughts in the comment section below.

Source: Philnews | Facebook


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