Money Management

I have read alot of financial books and blogs in the past few months. In the effect, I bought myself a VUL, learned to track my everyday expenses (although I am not that consistent doing it, but it helps me) and it made me more kuripot or penny pincher. I have learn to manage my money whenever it hits my payroll account, every peso has put into budget. Although sometimes, as I am a minimum wager, I do have some shortage. Like right now, I feel so vulnerable cos my savings is about an inch away from the minimum balance and I haven't deposit since May cos I prioritize my VUL. These past months, I had some money issues, I can't even save a hundred. I even borrowed money from my boyfriend by passing my shares to him for our utility expenses for two months. I needed some new clothes but I couldn't buy even in Tiangge cos my family needed my money more than I need it. I feel so unsecured. I haven't save money for long. My investment is one thing. I can't withdraw from it whenever I needed money. I felt broke. I had to break my Pi-Nik bank. Pik-Nik can I turned into a coinbank only saving 10 peso coins and new 20-peso bills. I planned to make the can full and deposit to my account but since I needed to survive, I had to use one of my remaining powers.

Many of my Pik-Nik empty cans are still in used. Like this one.

I managed to save Php2,700. I'm not sure for how long cos I don't remember when did I start, I think I did this for almost 3 months. Not bad, yeah? I added the saved money to my daily expenses. Thanks to this blog: Minimum Wager Journey, I copied her budget method. Kind of, and so far it works for me. I summed up all my work allowance from daily transpo to food. List down my bills, set aside money for tithes and contribution for my family. I only bring money enough for my food and transpo allowance. I don't even have emergency money. I started this since first day of September and still doing it. Slowly, I feel on my way back on track. Although I have to sacrifice some things like the cravings for fast food and sweets, but it's better to be safe. 

I also thankful with this book, that I have been eyeing to buy for weeks and finally was able to buy it when I got my holiday pay.

This is actually a 2-in-1 book. The other one is "I Wish They Taught Money In High School So I can Start my Business Right Away."

At first I thought, this book is kinda pricey, Php500 for this? Not even a hardbound. Well it should be worth every peso because it has been in the best selling books list for months. And I was right. This book made me realize, I wasn't losing my track after all. I was actually doing the right thing. Before, I follow Income - Savings = Expenses but Ms. Clarissa says, Income - Investment = Expenses is better, which I actually follow lately. She even says, we should invest our savings too but I am not going to do that. I still want to have money on my bank account. I have to have an emergency fund/ This book is actually good, I am not going to review it for you cos I'm not good at that but this book teaches us to manage money like how they promised on the cover. Things that we wish we had learn from high school so we may not have these money problems.

NOTE: I lost my 2 comments on this post. Disqus lost it :(

For The Future

When you got your first job, what's the first goal in your mind?

I grew up with my parents who has never ending debt. Means we 'borrow' what we eat, spend every day and pay them on my tatay's payday. Usually dad's paycheck is gone after 2-3 days by paying all our debts we made throughout the cut-off. What's left is our surviving money for the next days til next sweldo. Sometimes, sweldo is not enough so we borrow money again to others or pawn my tatay's payroll ATM card and other stuffs to pay so we can have credit again for the next 12 days and so. That's how the money in our family flows. With God's grace, my older sister got a chance to work abroad, helped me to went and finish college, had our home in Cavite renovate, helped pay our bills on time and also help kamag-anak in province whenever they asked to (but not all the time). Although my sister is well-pay abroad, I dunno but my nanay still have utang. It won't go. In fact, until now. Even my cousin who already has own family, she pawns her husband's payroll ATM card to survive til next payday of his husband. One I asked her, why you keep doing that, she answered me like sangla or pawning atm is inevitable, it happens normally like trials in life. Kalokohan. So when I had my first job, I swore to myself: This never ending utang won't happen to me. It will not happen to me.

Then I read these books:

:

Boy, I am grateful that I have read these. These books taught me to budget and save money every payday and I did. I had P10,000 on my savings account before the 2013 ended. Until now, I follow this formula:

Income - Savings = Expense

I have one goal: To have my own house and lot. I am 25 years-old now and hopefully I can achieve that by my mid-30s, but with this money on my savings account is all I have, I dunno, with its low interest annually, It'll take me ages before I can save millions of peso.

I'm a Cosmo girl, though it's not obvious but I do buy and read Cosmopolitan magazine every month. It's their money article that I always look forward to so I learned about investments from reading the magazine. While browsing thru internet to learn more about it, I stumble upon this great financial website called The Wise Living (which is by the way, a perfect financial blog for people @  their 20s) and I contacted the blogger since she offers FREE financial consulting. I reached to her, who's name is Lianne, through Viber and she was very patient and nice to teach me brief information about investment which is what I needed. 

Now I have VUL, which is an insurance + investments product (which is I think is really great because you're investing AND you are covered by insurance in one. Ha. Cool, eh?) of Sun Life Financial. Ms Lianne now stands as my financial advisor (very cool. I sound like a person who has lot of money she don't know what the hell to do with those)

I'm just very glad that I did this, that I've start investing so my future self will thank me. This is so good and I thought, why can't everyone just do this investing stuff. I mean, it's a win-win situation. You help not only yourself but also our economy, right? More investments, great economy, yeah? This is just what I think, but I know I'm right. I tell about this to my friends, but they seem don't believe me.  Or I am not just an effective seller because I can't discuss these stuff to them, I am no good teacher so I just tell them, you may want to visit this site or contact this person but they still don't have interest, so I don't insist. Now I wanna know more about investment. As in more. If I can have more investment in the future. As of now, I'm planning to go to financial seminars to help me.

Hey, if you don't have what I've mentioned above yet, investment and insurance, or you wanna know more about those, please do visit this site:

This site is a big help for you specially to those people @ 20's. like what I've mention. Ms Lianne is really friendly, nice and very accommodating, will surely help you out. She is young. Younger than me. She is so cool that she knows alot about finance at the very young age who graduated from nursing. So cool. Again, consultation is free.

This is essential. I mean, you should REALLY get your insurance and invest NOW. I mean, really, really.