How to Save Tips - Thread 3

[purplelime]

Subscribing! Baby#2 is on the way, and while we have some savings, it is not enough. We started paying downpayment on a condo unit so it really eats up a huge chunk of our salaries. I will finally finish paying off the lot I bought 5 years ago this November, but until then super tipid talaga.

[adikako]

Everypayday, I set aside this in priority;

1. Deposit sa Savings Account
2. Upa sa Bahay
3. Credit Card payment
4. Credit Card payment
5. Credit Card payment
(leche ang dami kong credit card, downside sa abroad, kahit hindi ka mag apply ng card, papadalhan ka ng banko free for life pa ang membership) temptation talaga
6. Whatever is left, yung budget ko sa food, misc expenses.

Tinitipid at pinagkakasya ko yung excess. There are many times, as in 20 dirhams around 200 pesos na lang pera ko before next payday. Buti na lang walking distance ang office ko kaya kahit anong pagod ko, pwersado ako wag mag taxi.

Basta lagi ko priority, monthly may nadeposit ako sa savings. Nababawasan ko lang sya kung talagang may inevitable na kelangan ko mag withdraw.

[MisCalculus]

Ako i admit kuripot and matipid talaga,hehe.. but i'm proud to say that i am really self sufficient and i have never experienced na magkaron ng emergency utang (Thank God).
I keep 2 atms, iba yung pang sweldo, iba yung personal ko.

 What i usually do is this:
Income - expenses (i.e., cc, share sa bahay, daily expenses, etc.) - savings (which i transfer to my personal acct) = excess aka "savings uli" which i may or may not use for luho or pag may emergency expenses, depende sa pangangailangan
I don't make unplanned purchases. when I buy something, I make sure na gusto ko talaga and no guilt feelings afterwards.

This strategy is applicable for me kasi I'm single. This may not work on others lalo na pag may mga kids na

[kwang sun]

may mutual fund naman po ako.. pero ano po ba talaga kelangan iprioritize emergency fund or mutual fund? .. single pa po no priorities in life.. shall i invest my pay in the bank lang muna or diretso na sa mutual fund?

[cody23]

^ if you are living on your own then its mandatory to save 6 months of cost of living expenses, then save for emergency fund and/or investment. On your question on which to choose first, I say save a little for emergency if it give you peace of mind, then invest the order. Mutual fund are liquid enough for you to pull out if in case needs arises however take into consideration also that most have exit fee unless the minimum investment holding time is met. I believe UITF have lower holding time.

[kwang sun]

^ thanks sis!.. i tried the envelope system lol .d ko maiwasan magborrow ng money haha

[Myealexis21]

(leche ang dami kong credit card, downside sa abroad, kahit hindi ka mag apply ng card, papadalhan ka ng banko free for life pa ang membership) temptation talaga

I just received one pre-approved CC, di ko sya inactivate. No-no na talaga sa CC.

^ thanks sis!.. i tried the envelope system lol .d ko maiwasan magborrow ng money haha

Same here Sis, kaya kahapon dineposit ko na yung mga nasa envelope. 

Next payday eto na gagawin ko, out na yang envelope strategy:

Right after Salary - Pay all the bills.

First saturday after salary - deposit my monthly savings, rent, and other funds to the other bank account. (Para di na ako ma-tempt)

Pagkasyahin kung ano ang matira.  Hayzt ang hirap magbudget! But nakakaencourage tingnan yung balance sa bank account at least nadadagdagan every month.

[bebeloo]

Ako rin before against sa CC until i found out na you can use this to your own advantage. Ako, I only swipe when my purchase goes at least 2k. kasi may freebies si CC na meal. Win win siya in a way kasi tipid din ako sa lunch ko sa office, instead of buying, icclaim ko na lang yung free meal ko.

Pero syempre, mga necessities lang yung binibili ko like groceries, medicines, etc. Hindi yung bibili ako ng kahit anong gusto ko na worth 2k kasi gusto ko ng freebie.

[cody23]

I just received one pre-approved CC, di ko sya inactivate. No-no na talaga sa CC.

In case di mo talaga siya gagamitin make sure pa cancel mo na lang siya. Ibang bank kasi is nag cha-charge rin ng annual fee maski hindi activated ang card.

[Sapphire8]

Re: sa pag gamit ng CC, what we do is that pag may gusto kaming bilihin or pag mamimili kami sa supermarket, we swipe tapos yung cash na dapat ipangbabayad namin direcho na sa envelope ng particular card na ginamit namin. That way, parang bayad na rin yung pag-gamit sa card tapos may freebee ka pa.
I remember before, ang dami namin naipon na pang big macs and big n tasty sa mcdo dahil dito. Tapos pag dumating na yung bill no worries na kasi nakatabi na yung pambayad agad.

[Myealexis21]

^No need Sis kase free for life sya.  Plus hindi nila maaactivate coz I did not submit the documents na kelangan.  Nakakatakot i-activate kase ang taas ng credit limit.

^^Sis my officemate naman use his CC for his skyward points para he can upgrade or buy one free ticket for his annual vacation.  So yung monthly grocery nila and other expenses CC ang pangbayad nila.  For me kase hindi pepwede ito kase my monthly expenses - grocery/bills hindi naman ganun kalaki so hindi rin pwede.

I still have a CC pero bayad in full kapag due date na.

[mxherr5]

@myealexis,

Listen to Cody.. its better safe than sorry.

[Sapphire8]

^^ Yup, dapat talaga lagi in full and on or before the due date para di magka-problema.
AkoI try to be organized sa mga CC namin ni hubby especially sa mga cut-offs para next, next month na ang bayaran. Hehe. Tapos whenever I make a purchase using one card, jot down ko agad sa planner ko the total amount so that more or less may idea na kami how much ang babayaran for each card.

Ano pa ba?

Actually, t all boils down to living within your means. Sabi nga ng lolo ko, "wag ka gagastos ng malaki pa sa kinikita mo".

[kwang sun]

I want to get a credit card coz I feel that mas makakatipid ako sa deals online like groupons.. haha.. nakakatipid nga ba? lol

[AnJelatine]

Sa pag save ng money, guide ko yung 52 Week Money Challenge

[Myealexis21]

^^Sis Kwang Sun, if you know how to properly use the CC then I think maganda to have one.  For me I don't see it as nakakatipid coz I use it not to acquire points or discounts.  If may points and discounts then good, bonus na yun.  My main purpose kase is for some purchases such as airticket, hotel bookings, products not easily accessible where I am, last minute bill payments, etc.

I rarely use the CC, and if I do use it...Pinakaimportanteng tandaan ---- Pay it in Full pagdating ng Due Date, para walang dagdag interest.

@myealexis,

Listen to Cody.. its better safe than sorry.

I will check, just to be sure.  thanks.  Balitaan ko kayo.

Parang na-alarm tuloy ako... dyan ba sa atin yung mga banks ginagawa yan? like if free for life tapos magchacharge sila bigla? And ano ba ang kalakaran ng pre-approved CC dyan, if ibigay sa yo, then you can activate it without submitting any documents?

I have 2 credit cards na free for life.  One I use, the other one hindi ko na ginagamit.  I do check the other one na hindi ko ginagamit if they will charge me kase wala naman akong purchases for quite sometime na,,, wala naman silang charges. 

[Myealexis21]

^^Sis AnJelatin, napa-google agad ako hahaha!

I might follow this on top of the amount I am saving monthly. But I will save in dollars converted to dirhams. Not bad at the end of 52weeks I would save 5,000dirhams.

Thanks for this Sis!!!

[AnJelatine]

^ PHP 40 = $1 naman ang conversion ko

Good Luck Sis!

[Myealexis21]

^Naku Sis at first glance, parang ang dali, then I did the computation haha! Medyo malaki na rin kase yung naka-allocate na amount sa savings ko talaga.  Kaya di ko sure if kakayanin ko pa ito...pero I will try siguro to modify this.

[kwang sun]

^^Sis Kwang Sun, if you know how to properly use the CC then I think maganda to have one.  For me I don't see it as nakakatipid coz I use it not to acquire points or discounts.  If may points and discounts then good, bonus na yun.  My main purpose kase is for some purchases such as airticket, hotel bookings, products not easily accessible where I am, last minute bill payments, etc.

I rarely use the CC, and if I do use it...Pinakaimportanteng tandaan ---- Pay it in Full pagdating ng Due Date, para walang dagdag interest.

I will check, just to be sure.  thanks.  Balitaan ko kayo.

Parang na-alarm tuloy ako... dyan ba sa atin yung mga banks ginagawa yan? like if free for life tapos magchacharge sila bigla? And ano ba ang kalakaran ng pre-approved CC dyan, if ibigay sa yo, then you can activate it without submitting any documents?

I have 2 credit cards na free for life.  One I use, the other one hindi ko na ginagamit.  I do check the other one na hindi ko ginagamit if they will charge me kase wala naman akong purchases for quite sometime na,,, wala naman silang charges.

nakakainggit lang kasi sis .. like if may gusto akong bilhin online kaso hindi pwede coz wala akong cc.. haha.. main purpose ko lang naman is to  buy online sana.. lol.. but my mom prohibited me to get one  para iwas temptation daw.. 
tips naman sis how to grow your money??.. i know MF pababa ngayon diba ? =/