Monday, October 7, 2013

Saving Money made easy?

 Do you want to save?
Of course everybody want to save, but how to save is a big question. How would you save if you have more unnecessary leaking of money than earning money?

Little by little makes is grow. 
As the Bible says in Proverbs 13:22 Dishonest money dwindles away, but he who gathers money little by little makes it grow. 
You cannot save money if you are not spending it wisely. This proved me true, overspending happens in a small amount of money. Leaking small amounts then realizing later that I have been spending my regular monthly budget to small amounts and when I calculate it already a big amount of cash.
For example I am fan of Starbucks: I always have Starbucks coffee, and everyday I will spend P100 for cup of coffee, I think that coffee is really good and it would be a great  treat for myself if I have one cup everyday. Then time comes that I multiply my P100 Starbucks coffee in 30 days and realized that I spend P3,000 in a month, then  multiply it by 12 month,
equivalent to whooping P36,000 a year just for Starbucks cup of coffee. If I could have been more wiser I might save the P36,000 for future use, now realizing that I have been spending more P36,000 in years of drinking Starbucks coffee.
One motivation I have learn, every time I want to spend a little amount, I put that little amount of money in a wallet where I decided to save money, and every time I put it in a bank I smile because my bank book smiles me back.

What a waste of money
Do your earnings fits your lifestyle?
Proverbs 21:20 In the house of the wise are stores of choice of food and oil, but a foolish man devours all he has. 
The bottom line is save for the rainy days; do not be like one day millionaire, spending all you have earned in a month for one night at the bar.
Proverbs 27:24 for riches do not endure forever, and crown is not secure for all generations.
Do not waste your money on the things you don't need and regret why you have it.
It's like having three or more cellular phones. What do you need for more cellular phones if you are staying at home watching television everyday? Check your lifestyle,  are you a man or a woman that need a lot of calls everyday. If you have more cellular phone you need to have loads, (or Postpaid bills) and electricity by simply maintaining it and it adds extra expenses to your monthly budget.

How to save? 
  • Set aside - every week or every month set aside from your weekly or monthly income the needs to be paid like bills, tuition fee, amortization,  tithes, seed, car mortgage, and every monthly needs that need to settle regularly. 
  • Set up a budget- of course you cannot spend the money that you don't have. Like the commission income it is not yet cash on hand so you cannot use that yet. Plan your guaranteed income (monthly salary) and fix income every month, this is secured cash on hand that you can use to your expenses. 
  • Track your income and your expenses-  the fact is you may not realize you are leaking money because you simply do not see it happening. Money leaks uncontrollably when you are unable to track where it goes.
Here is a daily cash out monitor from to help you start saving your money easy.

The simplest way to plug your money leaks is to have the discipline and follow an organized system that brings together all your sources of money (or income), your “money in” and allows you to break down your spending into all the different types, your “money out”.

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