According to survey, only 1 out of 5 people has the habit of saving money. I’m beginning to believe that because most of the people of my age that I talk with don’t really prioritize saving money. I love The Suze Orman show at BBC cause it’s all about managing your personal finances. I can’t help but nod everytime she gives sensible advices.One question that she blurted out on one caller was ..
“The question is NOT Can you afford to buy the things that you want? BUT rather CAN YOU AFFORD YOUR LIFE WHEN YOU CAN NO LONGER WORK?”
I’ve enlisted 5 simple ways that we may consider doing while we still have the capacity to work
and on how to overcome personal financial turmoil.
Piggy Banking
I have the habit of depositing spare coins at the end of the day. It gives me the feeling of excitement when my piggy bank starts to be heavy and of course what excites me the most is the time that my piggy can no longer eat the coins that I feed him. Then I deposit the coins to my mother bank.
Save a certain percentage from your pay
It’s not how much you make but it’s how much you keep. During payday, always make sure you have your bankbook with you so you can go straight to the bank to deposit a certain percentage of your pay.
Budget – Budget
Save a certain percentage from your pay
It’s not how much you make but it’s how much you keep. During payday, always make sure you have your bankbook with you so you can go straight to the bank to deposit a certain percentage of your pay.
Budget – Budget
Being frugal is alright. Always take note your usual expenses (fares, bills, food, etc.) so you can keep a certain budget that will run for 2 weeks or a month till you receive your next salary.
Leave your Credit Card at Home
If you are an impulsive buyer and can’t help but swipe your precious credit cards every time you go to the mall, then leave your credit card at home! Maintaining 1 credit card is manageable and don’t ask the bank to set your credit limit higher.
Be Wise During Shopping
Don’t invest on things that depreciate like very expensive clothes but instead invest in real assets. Shopping is fun but we should do it in a moderate way. Your clothes won’t make you rich!
If you are an impulsive buyer and can’t help but swipe your precious credit cards every time you go to the mall, then leave your credit card at home! Maintaining 1 credit card is manageable and don’t ask the bank to set your credit limit higher.
Be Wise During Shopping
Don’t invest on things that depreciate like very expensive clothes but instead invest in real assets. Shopping is fun but we should do it in a moderate way. Your clothes won’t make you rich!
There you have it. Gradually saving for your future will definitely give you a peace of mind knowing that you’re doing something good with your hard earned money.
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