How did you reach your first million?What age and how?Inspirational stories 2

[shopwisegirl]

Hi mga sis kakainspire naman yung thread.. My family have financial problems. nagpaaupa sila dati kaso nasangla sa bank ng kamag anak namin. Ako nagbabayad halos lahat ng bills namin. tapos nung bago pa lang ako sa work, nagkaroon ako ng maraming credit cards. Ako naman si pasaway nasilaw sa cards kasi mula nung nagkaproblema family ko.. naging tight budget ng parents ko. ayun.. na-max out ko 8 credit cards ko. then last year.. narealize ko.. sweldo ko half napupunta sa bills ng parents ko at personal expenses ko. half naman sa interest lang ng credit cards. in short wala na ko maipon. dumating pa yung time na nahospital father ko. narealize ko wala din pala ipon parents ko kasi pilit nila binabayaran sa bank yung properties ng family. buti na lang may good friends pa rin pwede takbuhan pag may problems. pero dahil dun i realize na hindi sa lahat ng oras pwede ko sila takbuhan. nakakahiya at ayoko abusuhin friendship namin.

since last quarter of last year, i started paying my cc bills. not just the minimum due. wag nyo sabihin sa parents ko pero umabot ng almost 300k bill ko sa cc.. 8 credit cards ko nun.. ngayon, less than 100k na lang kelangan ko bayaran sa credit cards ko at naclose ko na 4 credit cards. Meron na din ako inopen na account pang emergency money (though di pa malaki laman nun). at nabayaran ko na mga friends ko nung nahospital father ko. naisip ko lang nung nabasa ko itong thread. kaya ko naman pala mag-ipon.. kelangan lang talaga ng discipline. malayo pa ako sa 1M pero tingin ko before mag 30 ako kaya. I'm 27.. kelangan ko lang wag kalimutan priorities ko. Balak ko ituloy business ng parents ko. papaayos kom mga paupahan nila. tapos ipaparenta ko. para may extra income. ^_^

[danda]

wow! 1M! Sana before 30y/o! Haha!

[iheartkulot]

what's the best way to save and invest money ba?

I'm currently working here sa pinas. Pinapaaral ko din bunso ko kapatid na nasa college na. And at present, andami rin utang ng pamilya ko. Okay naman ang sweldo ko sana pero dahil sa mga bayarin, hindi ako makaipon ng maayos talaga. Wala rin naman ako nabibiling gamit for myself. One year ko na nga iniisip bumili ng laptop pero hindi ko magawa. Kasi nga, di rin biro magpacollege. Parang single parent lang ako. Kaloka

Ano ba ang ideal? How do you divide your salary? Like ilang percent sa ganito sana, sa ganyan.

ang gagaling naman ng mga gtalkers na nakahit na ng first million nila.

salamat po

[OD]

^^^ 8 CCs? tsk, tsk, tsk! That should really be your top priority, to settle all unpaid dues then get rid of them all.. the remaining cards you still own. The most number of cards that I had was 3, but I was able to juggle with as much as 5 cards as my former officemates would lend me their CCs to grant me more shopping mileage so I could get what I wanted, when I want it.

Since the cards have varying due dates, I thought I was efficient in moderating my expenses since I get to spread them out appropriately. And then it came to a point when my weekly salary almost always headed straight for payment centers than my wallet that I knew I must adopt some drastic changes.

I never let those cards leave home till i was able to fully settle the balances to the last centavo. Then I had them all cancelled. Actually nag-tira ko ng isa but then the habit of being able to gain the upper hand in managing my spends overruled the need for the card so I just stopped using it. From then on, saving money became so much easier as I was able to restrict purchases to what my available cash can only afford. Eto nakuha kong tip from Aga Muhlach hehe.. he only keeps a single wad of P500 bill in his wallet for impromptu purchases when he goes out. This was from an interview long, long time ago but it really does make sense even up to this day.


^ You know, mas hanga ako dun sa mga tao na katulad mo who are forced to provide financial support for siblings when it is supposed to be obligatory in as far as parents are concerned. I know what sort of compromises, personal sacrifices you have to elect just so you can meet your filial duties. And because of this, keeping some for yourself is truly one hard task. I suggest you look for other sources of income, extra income sis. If you really want to get something like a laptop, settle for something cheap and full-featured kahit di na kilalang brand. What matters is the specs or if you can take the risk, buy a second-hand unit. Dont ever fall for those 0% installment schemes. Ang laki ng patong dyan, plus there's that probability that you might not be able to settle the monthly dues fully and religiously given the situation that youre in.

This kind of setup worked for me in hitting financial targets quite ahead of time,70-80% of my income was kept as savings then the rest for expenses na. Majority of the expenditure went mostly to settling bills then grocery items na. Since the nature of my work deterred me from staying/strolling in malls, I was able to keep myself from buying things on a whim. Try to grow or catch some phobia from malls prior to payday para you can apportion your income more appropriately

[prettybarbie]

ang hirap ipunin ng 1M pero andali gastusin LOL

[hannie1216]

ang hirap ipunin ng 1M pero andali gastusin LOL

Agree! Yung first almost 1M ko nakuha ko nung binenta house namin. Malaki laki din ang prx ng house and 4 lang kami naghati.  Wala pang 3 years ubos na... At ang pinagsisisihan ko sa lahat, di ko pa inuna bumili ng house, puro luxury lang! Ipon na lang ulit baka retired na ako wala pa ako maipon na 1M

[shopwisegirl]

^^^yeah 8CCs.. pero as of now 4 has been cancelled. yung 2 ipapacancel ko within this year. yung dalawa ititira ko para sakin tsaka sa parents ko yung isa kung may emergency expenses sila.. may baon system na ulit ako. parang student lang ulit. dati kc wala control gastos ko. kung [textspeak!] nasa wallet ko yun pwede gastusin. ngayon, tinatanggal ko laman.. hehe.. target ko 1M in 2 years.. sana makaya.. itutuloy ko part time business ko.. kumikita naman kasi. wish me luck! balitaan ko kayo pag na achieve ko na goal ko.. basta goal ko this year. CC debt free! ^_^ then 1M na.. ^_^

[lischan]

@OD: galing mo naman 70-80% of your income goes to savings? I wish I could do that din! Haist, I need to find part-time work!

^ at galing mo din sis! 1M in two years.. wow!

Again, I need extra income talaga! hahaa.. Inspiring talaga mga people dito and I like coming back to the thread coz the stories make me want to do something about my situation.. Thanks for sharing peeps.. 

[fds4eva]

I had my first million as a gift from my Mother and her lady boss. It was a pre-wedding gift. Sobrang naiyak ako when I updated the bank book and saw the digits.

[kaiz]

Napaisip tuloy ako if kaya yung 80% na pasok na agad sa savings. Based on my computation, di ko nalang it-try. Baka mafrustrate lang ako. Hehe.

^swerte nyo naman sis

[lischan]

^ hahaa sis  natawa ako sayo. Same tayo haha, almost 20% of my salary bagsak na sa rent and utilities e, so if 80% i save ko, hinde na ako kakain nyan hehee

[showermist]

^most of the time 60-80% goes to my savings account too. kaya nga yung target ko this year na savings from my salary na-achieve ko na 

ang ginawa ko--i look for ways na madagdagan yung monthly income ko. also,  i set an appointment with my boss to talk about my request for an increase. pinandigan ko na i am deserving. also, i have four hrs free time 3x a week and i was able to utilize that para madagdagan income ko.

this are just from my salary. not from my investments.

(i love robert k. binago nya thinking ko pagdating sa pera   )

[blooming]

What helped for me is walang umaasa sakin na kapatid or parents. So right after college, nagwork nako, without needing to support anyone, I saved.  Then after a few years, I took up my masters - ginamit ko ang nasave ko plus loans which I paid for 5 years after I graduated from my masters.  At 30 (parang medyo late nanga), I had my first million. Purely career lang, work and save lang. Also went for safe investments - time deps lang.

Factors that helped:
- pinag-aral ako ng parent ko
- walang umaasa sakin na kapatid, pinsan o kamag-anak
- pursued further studies

[smartstarter]

saving early and quiting after 20 years will make you richer than the one who saved late and saved until she retire. mga sis, yan ang natutunan ko sa managing personal finance. huwag nyong hintayin na matulog ang pera sa banko, dahil ang banko lang ang yumayaman sa ganyan.

[funky f]

do you also agree na walang yumayaman na ordinary employee?  that entrepreneurship is the way to go?  I DO! 

[smartstarter]

do you also agree na walang yumayaman na ordinary employee?  that entrepreneurship is the way to go?  I DO! 

ang yaman kasi di naman na memeasure sa kung ano kadami ang pera mo sa bangko sa wallet. mayam na tayo kapag nasusustentohan natin ang lahat ng gusto at pangangailangan natin sa buhay sa paraan na gusto nating mabuhay. naku!! 25 pa lang po ako huh. parang ang tanda ko na kung makapagsalita. hahaha.

[showermist]

^^ i agree!

unless nasa abroad ka. ambilis lang mag ipon ng isang milyong piso from salary hehe

[carmichael18]

ako rin mukhang malayo pa sa 1M.. kasi unconciously may naitayo yata kaming "tita carmi and tita weng foundation" ng ate ko.. pinag-aral ako ng ate ko nung college, in return nung nag-graduate ako tinulungan ko na rin siya sa expenses.. maaga kami nawalan ng nanay, at ang papa ko may ibang family.. nasanay na kaming na magkakapatid na magkakasama..

kaso sa both sides ng mom and dad ko, kami lang ang sinuwerte.. yung iba kapos at yung iba wala talaga... ang bilin sa amin ng papa namin, magtapos kami ng pag-aaral.. kaya ginawa namin, no offense sa undergrad, pero sa amin siguro sa ugali na rin ng tao kaya kami umasenso, sila palubog ng palubog...

so anyway, in short, kami ng ate ko tumutulong sa mga kamag-anak namin.. hindi lang mga kapatid.. mga pamangkin na walang pang-aral, hindi namin sila matiis eh, mga pinsan na walang trabaho, mga tyuhin na wala na ring trabaho, tinutulungan namin sila although not all the time ay pera... naranasan ko pa na magtustos sa kapatid ko at anak niya, kasama pati pagbubuntis kasi hindi siya pinanagutan nung u***s na lalaki.. kaya hirap na hirap kami mag-ipon.. nag 2 work pa ako dati.. buti ang ate ko kasi malaki sweldo niya manager na siya.. pero sa tulad kong entry level lang, na 7k kinsenas lang tinatanggap, nagbabayad ng kuryente, nagpapa-aral ng pamangkin, gumagastos sa pagkain sa bahay, wala na akong savings..

until one day, sinabi namin ng ate ko, hindi na namin sila tutulungan, kasi kami ng ate ko hindi na umunlad dahil sa kanila.. ngayon papakasal ako, less than one year ang planning, pero naka-ipon kami ng more than 100k, siguro mga 60-70% ang sa akin dun.. narealize ko, ganong karaming pera ang nauubos ko kakatulong sa iba.. 6 years na ako nagwwork, palipat lipat ng work kasi nga hanap ng company na makakasagiot sa mga expenses ko dati.. sa 6 years na yun, naka 600k na rin siguro ako.. hay... siguro naman, hindi magagalit si God sa akin kung isipin ko naman yung sarili ko at magiging pamilya ko, at hindi na ako tutulong sa kanila..

[OD]

@OD: galing mo naman 70-80% of your income goes to savings? I wish I could do that din! Haist, I need to find part-time work!

^ at galing mo din sis! 1M in two years.. wow!

Again, I need extra income talaga! hahaa.. Inspiring talaga mga people dito and I like coming back to the thread coz the stories make me want to do something about my situation.. Thanks for sharing peeps.. 

No legerdemain trick whatsoever sis... you know how it's quite possible to set aside almost 80% of your income? Keep track of your expenses, every bit of it. Even the most trivial spends should be accounted for like snacks, yosi, fare etc. Trust me!

Knowing about your spending habits daily gives you so much leverage on how you can thoroughly manage eventual expense and budget. So it's like saying you can plan your expenses wisely and carefully. Actually, there was even a time that my personal expenses were mostly from online shops. Even make-ups since I nary have time to scout and shop in malls, that pretty much restricted the shopping urge.

[sweet.trish]

magkakaron lang ata ako ng 1M pag binigyan ako ng dad ko