Howdy! It’s been a while since I last made a post about everybody’s favorite topic, #MoneyBliss. Honestly, I’m having a hard time writing one. After all, I’m not a financial guru and I myself struggle with the rising prices of commodities around us! Also, I am being asked by people of one question alone even if I already explained how to answer their question in previous posts, and that is – what is the best investment to make today?
Quickly, here’s a recap. First, you need to have an objective for your investment, decide when you will use your money and assess your risk appetite. Secondly, you need to know how much you can invest and how regular you can do that. Basically, before you can make an investment, you’ll need to be a good saver first and foremost. And, here’s how I think we can cleverly save up for money.
If there’s the two of you who bring money home, consider living with just one income or ¾ of your combined income. This way, you’ll be living well below your means and you can save up money regularly and faster. This little trick would condition your mind to live within a budget that is lower than your combined income.
If there’s an automatic debit scheme with your bank or payroll deduction such as with Pag-Ibig MP2, enroll for those. This is one sure way to follow the formula, INCOME – SAVINGS = EXPENSE. Consistency is the key for your savings to go up and up and up. Besides, you can’t spend the money you don’t see in your payroll ATM account. Soon, you’ll be used to living with what’s left of your money after savings.
Bring your own water as much as possible. Bottled waters and sodas take a big chunk of your food order. Go ahead and take a look at your next dinner. Bringing water not only saves you money, it also contributes #LessWaste and assures you that the water you’re drinking is safe and clean.
Invest in energy-efficient home appliances. I know that at first assessment, buying a new refrigerator or an aircon unit seems to be an expensive move. But, consider ditching your old units for energy-efficient ones when they have already served you for more than ten years. You’ll be surprised at how much you can save by switching appliances. Who among us does not fear the Meralco bill? Besides, with the zero percent installment schemes of credit card nowadays, you don’t have to worry about spending money one-time-big-time.
Convert to a #LessWaste lifestyle, if you can’t go zero. Start by buying less of everything. Mommies, do we really need five lip shades? Twenty bags? Ten shoes? Daddies, how many tool sets do you actually need or use? How about car and bike accessories? Kids, how much toys do you really use to play? The whole family can take part in this #LessWaste journey. Set-up a jar or a bank account where you can put the money you were tempted to use to buy things you wanted but not needed. Practice lang, until one day it becomes an effortless habit. In the process, the family can save up for travel, staycations, adventures – things that really matter and last.
I’m already doing some of these. Some, I have yet to do. I don’t know for singles out there (please enlighten me) but I personally find saving money a lot harder now that I’m a wife and a mother (of three cute kids). Nandyan yung magkakasakit sila. Or, may babayaran sa school. Sometimes, I can’t believe where they put all the snacks we’ve bought over the weekend. Ubos agad! Sometimes, they’ll make lambing for some burgers, fries, or honey-glazed chicken. Simply put, family life is I think more unpredictable, pati sa gastusin kaya mas mahirap mag-save. That’s why, sa mga nakakaluwag dyan, save lang nang save!
The more and healthier your saving habits are, the bigger your savings will be. The bigger your savings, the more investment opportunities you can choose or consider. The more investments you make, the less the risk of losing all your money and the more opportunity to profit more (kasi diversified). All these will lead to a better and brighter future for you and your family.