How to Save Extra Money
Saving is one of the subjects I want to write and discuss. Saving money is one important thing all of us must study and practice.
If you like to save, you should have at least a savings account where will you place a particular amount of money whenever you are receiving your salary from your employment or business.
It is not hard to have a savings account in the Philippines, in fact, it is just simple to apply once you have the full requirements.
In order to save more money, there are many advises and strategies you may implement like the following tips I outlined below.
1. Plan your Spending
Planning where you should spend your money is one task that will help to save more money. If you prepare in advance how and where you must spend it, you will avoid buying things you don’t need.
This enter the word budgeting. If you have a budget, you will spend money depending on your set budget. As you discover to spend wisely, the cash that will be left will impart you chance to save more.
Moreover, by planning your spending, you can control your expenses and gives you more ways to buy excellent products that you want.
2. Make additional Money
Supposing that you have a consistent employment and you believe the salary you are getting is not sufficient to save money, you may think ways to make more money such as selling products in Ebay, Facebook or Sulit; make money online; owning a part-time job and building up a part business.
Time is the one item you ought to consider in making more money. If you have adequate time, you can use it to make more money. However, if you don’t have extra time, it is much hard to look for other ways of getting more money.
3. Live below your means
If you have employment and earning P15,000 a month, aim hard and set it a goal to spend less than P15,000 so you may save little by carrying out this. Most people tend to live a lifestyle of buying things so they can show it to other people that they are well off.
When you learn to live below your income, you can save money slowly but surely!
Saving is not really complicated, it just requires patience and self-control. Just go back to the basics of saving money: spend less than what you earn. It is not complicated and doesn’t need math or some thing else, just an absolute common sense.
Gily Tenorio is a writer on finance, saving and investments. He loves playing guitar and reading books. He is now residing in Korea with his family. For more details on how to open a BPI Bank account, please visit Financial Management , for free financial management information on saving, investments and make money online.
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