Personal Development, Finance and Investing For Filipinos
An investment in knowledge always pays the best interest. Financial Education is your best investment.
Saving should be done consistently and it is a priority, as early as possible, even in small amounts.
Every little bit counts, so rather than looking for one big way to save a ton of money, save in lots of small ways and set yourself up for success.
If you make financial decisions with immaturity, you will be broke your whole life. The table below is the sample financial guide that will help you in managing your finances.
STEP 1: List Your Savings Goals
STEP 2: List All Your Income Source And Expenses
STEP 3: Find Out Your Saving Capacity
STEP 4: Write Your Action Plan To Reach Your Savings Goals
1. I will not spend on entertainment.
2. I will reduce aircon consumption to save on electricity bills.
3. I will find additional sources of income.
Tips To Save Successfully
Create And Follow A Reasonable Budget
List expenses. Allocate a reasonable budget for each. Use it to guide your spending.
Set aside a portion of your income in a savings account. Spend the remainder on your needs.
Spend Less Than What You Earn
Live below your means. Prioritize needs. Cut down on wants.
Source: Financial Consumer Protection Department (BSP)
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ABOUT THE BLOGGER
Ralph "Rap" was born and raised in the Philippines. A Financial Literacy Advocate. An I.T. by Profession. An Investor. A Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). A Traveler. An Adventurous. A Mountain Hiker. A Dreamer.
Currently works his way towards time and financial freedom.