The HeART of Saving

One of the most common responses I hear when I get to talk about young ones or even old ones when offered a savings or investment plan is "wala akong pera eh." Somehow, people think that insurance and investments are only for the rich, or for those with extra. But let me share you a secret? You can begin one now.

At the risk of this being a hardsell, and I promise this isn't, let me ask you something, like a coffee ad before asked, "Who do you wake up for?"

Need I say more?

We all have needs, we all have wants. But we all have the same love for our family. With that being said, most of us just need a little push in the right direction. And let me tell you that this is not easy, but it is going to be worth it.

How does one begin?

1.) First of all, common sense dictates that after graduation, we should get a job. And most of us, we have different priorities when it comes to job hunting. Sometimes we compromise and end up with something we hate and though it does pay the bills, it doesn't allow us to grow bigger. Find something you love, nurture it, later on maybe you can find your own place for it and have a business. How can you save if money isn't coming in? 

2.) Do not be afraid to learn about money. Nowadays there are plenty of resources in the net and take advantage of it. Ask questions, find a mentor. Also, if a financial advisor or insurance agent wants to meet up with you, just say yes! Believe me, they will move on to the next client, and it is their job to share to the most number of people. Let them do their job, and you can benefit from them. Aside from the free coffee, they are offering you their time to discuss. If you do not need what they have to offer, then at least you had additional information. And if you do like it, then it is something to consider. Remember, insurance is for your loved ones. Like what I read, insurance keeps you from being poor while investments help make you rich.

3.) Beware of those little purchases that add up. When I first started writing again recently, I told myself that I will get a phone that I have been saving up for but never got to do. But I wanted to have a useful purchase, (because I needed a better camera) and I said that because I made a purchase, then I better make the most of it, and so far it has helped me market my business more.

4.) Get a 2nd job. There is no shame in selling, or getting a sideline. You just have to find one that suits your talent and time. Do you like kids? then you can host parties. (hint, hint). Do you have a nice voice? Try out a career as a voice talent. Do you speak english well? There are online tutoring jobs available. Check out freelancer.com, or odesk for more opportunities. Beware of scams or business opportunities that are dubious, but just keep on trying.

You can learn even from just watching television

5.) Stay away from sales when you are sad, or stop thinking about retail therapy. Yes, there is such a thing but try to limit your retail therapy at one small item. Otherwise, retail therapy has a twin, and that is buyer's remorse!

6.) Sell your items that you don't use anymore. There is olx, or ebay, or just make use of your house, pool in the items that you don't use and pitch in with friends.  Better yet, you can arrange an exchange party wherein you simply barter items with each other instead of spending on things which can be recycled.

7.) Treat credit cards as cash. I once had a credit card collector whom I dreaded answering. But after a while, he was so persistent and insisted on really talking to me that I realized he was just doing his job. He made me a good payment arrangement, and instead of being afraid of him, I treated him as someone who made my life easier. Besides, when I finally paid off the bill, I was glad I didn't dread hearing the phone ring again!

8.) Beware of those designer jeans, or even designer food. Even in exercising, do you really need to use a particular brand?  Does exercising in the park make it better than when you are in an expensive gym? Take care of your health but do not forget to take care of your wallet too :) 

9.) On household purchases, compare brands. Be practical. When I shop with my son, I ask him whether its a need or a want. He rolls his eyes but I can tell the lesson has stuck to him.

Travel for fun! It's the best experience that is far more valuable than anything

10.) Pamper yourself a bit every now and then, so you don't feel deprived. Then continue with your savings plan. Delayed gratification is a good concept to remember when the urge to spend hits.

11.) Sites like groupon, metrodeal are good sources of sale items. But before buying, make sure you will be available and really willing to push through with the sale. 40% of those who buy do not really avail of the items, and though this would go to the merchant, they will be unable to sustain their sales as well in the long run.

12.) Before buying an item, ask yourself if it can wait a week, if the urge is still there, give it another one. Are you keeping up with friends, are you really going to use all the features of a particular item? How would you feel if this item was stolen from you? If you are uncomfortable using it, then it isn't for you.

13,) I reiterate this, you do not have to help everyone who asks for help.  If you were really somebody's friend, you would listen and ask them how they came to the predicament. And if you do give help, give an amount that you are actually willing to donate for good. If it comes back, it means just put it in your savings plan. Believe me, you are better off saying no to continue to be friends.

14.) Always look for the bigger picture. Why are you saving, who are you saving for, what is your timeline? 


15.) Slowly but surely is the name of the game. Also, it helps to have arrangements with bank when you have a salary to deduct a portion for your savings. Just talk to the bank and open a second account with them. Also, it might help to get a savings plan wherein you can commit to an amount. Most times, when you have to pay, then you just come up with a way to pay...just like students with deadlines, we need a little push.

16.) Sometimes, you just have to spend a bit more to end up saving. This has happened to me during events, I do not get extra people to drive for example to try and save money. So I ended up crashing the car because of little sleep. So I paid more. On the other hand, learn to price your products and talents accordingly so you can give and get the best service ever, resulting to more sales.

There are still plenty of ideas, but for now, here are some tips to better improve your budget. Saving is a science for sure, but it is also an art that may be practiced. And definitely, when we do it for the ones that matter then it becomes a real tool for showing our love.

Have faith, we have a Great Provider. Do your best, do not lose hope, and claim His blessings.

All will be well, may you be blessed!