You will be able to earn a lot of money, but if you don’t understand how to overcome it, you risk never getting rich. Before that, we have to learn how to steer that amount of money that we have at the moment. Only then will we be ready to get more money. Finally, how can we save money on salaries? Before that, we have to disavow all credit card payments, for example, as a cash payment insistently asks for less money than a credit card payment. It is recommended that you do not create almost any debts, but split your monthly foreign currency earnings into 50 × 50: work hard to spend half of your own money on life and debt repayment, and save the other half. When you intend to buy something, ask yourself a number of times: “Do I really need it? In your own life, you don’t have to give up your savings or your own desires. For you, you simply need to competently tax your own income. The funds must be broken down in this way so that the share of funds goes to the bank at the interest rate, and another share leaves for the piggy bank to fulfill your desires – the acquisition of something, travel, etc. For you, it follows in your footsteps to distribute funds depending on your goals. For example, the question “How to save on your salary every month” can be answered not only by one vote. If you ever try to own a large amount of money, you will save a lot – not less than 50% of all your own profits.
Approximately 40% should be put in the piggy bank and only 10% should be spent on everyday activities. Naturally, it’s just a sample scheme of how you can save your own income. As a result, anyone decides for himself how much and where to save for him and how much he has the opportunity to spend. Here everything depends on the amount of your income, and also on your desires and needs.
Small secrets of big savings
Everybody understands that giant changes start with little things. Here we will see the key secrets of how to save money in the Philippines in our everyday lives.
The financial and economic decline has forced many people to tighten their belts and learn how to save money. Some people are very good at managing the task and don’t have any problems, refusing to enjoy the pleasure of buying something excessive. For others, this task is a true challenge. To tell you all the secrets of a successful life with the wisest savings, let’s start with our list of recommendations for saving money in the Philippines:
Tip #1. Learn how to observe the funds
It will become a habit for everyone to keep economic records. At the end of every day, take the trouble to write down all your own costs in a special notebook or make for this separate file on your laptop. In real time, there are still a large number of programs and applications that will certainly help you to make accounting and not miss anything relevant.
Tip #2. Start thinking about your own costs
In this way, you will see how much money is left afterwards for all your expenses. At the beginning of each month, make a list of essential costs (utility offers, gasoline, rental housing, etc.) and add the necessary amount of “reserve” for unexpected costs that have all the chances to appear (doctor’s visit, buddy’s birthday, etc.). In this way, you will see how much money is left afterwards for all the costs, and you can plan your buzzard.
Tip #3: Give up your credits and credit cards.
You will not be able to balance profits and costs correctly if you live in debt. The presence of a credit card in your wallet only worsens your lust to buy an extra piece, but note that later on all the ways taken from the bank sooner or later will be necessary to give away, and this is another blow to your bag.
Tip #4. Do not waste your own salary on the day you receive it.
This is one of the most powerful and simple recommendations on how to save money in the Philippines. Once you get your long-awaited salary, don’t go to a hypermarket or any other shop. In these spaces, advertisers invent all sorts of methods to “help” you spend as much money on unnecessary products as you have in your bag. Come home, make a list of purchases and follow it clearly when you go to the shop.
Tip #5: Take care of promotions and sales.
Purchasing products at a low cost is a pretty good way to save money. There are people who get to save on discounts and sales a large amount of money from their own bootstrap, taking into account the criteria and space for the promotion in advance. However, in many cases, the cost is reduced for a bad or expired product. As a result, you should carefully observe the date of preparation (in case of foodstuffs) and carefully inspect the packing density.
Tip #6: Save on harmful habits.
Do not waste money on meaningless luggage. This will undoubtedly help you to save not only money, but also your health. For example, if you quit smoking, you can save a lot of money, especially if you think how many packs of tobacco you will buy in a week, moon or year. And that’s a pretty good motivation.
Tip #7. Remember to save for your home
Install water and gas meters, buy only energy saving lamps and do not forget to exclude light in the rooms if you do not need it. Also remember that a fully loaded washing machine consumes less water and electricity, and a freezer consumes less electricity if you do not put hot dishes in it.
Tip #8. Buying a lot of food
This is the last clue on our list of how to save money in the Philippines. Wholesale is a great way to save money. Now, in hypermarkets, wholesale purchases start at 3 units and the cost will become lower than in retail. For every family this method of purchasing products will be beneficial.