Radyo Natin

Saving your money

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Earning money is never easy. It requires effort, time, commitment and opportunities. Thus, we should not let our income go to waste as a result of irresponsible spending. Rather, we should make the most of the fruits of our hard work by learning how to spend it wisely, as well as save parcels of it for future investments.
In doing so, here are some tips:
1. Evaluate spending habits
As you start learning to save money, it is essential that you track your monthly income against expenses to see how much you are spending. Hard-earned money is worthy to be spent wisely thus it will be practical for you to be aware of where it's all going. This practice will also identify your bad habits on spending so you could later refrain from doing them.
2. Plan a monthly budget
Your budget plan will serve as map in your spending activities. Planning a head will determine your necessities and so will limit your acquisition of irrelevant materials and services. Being able to stick to your budget will not only save you from debts but will also develop your self-discipline.
3. Keep your change
Your daily coins which seem petty inside your purse will soon turn into paper bills if spared regularly. Strive to fill up a jar with dimes, and you could later exchange it for paper bills in your bank. And voila! You have just earned instant extra cash.
4. Cook meals at home
Prepare home-cooked meals more often as it curtails your food expenses. Other practical tips in saving on food would be to bring a lunch to work, eat dinners at home and use a travel mug.
5. Cut down on driving
Giving your vehicle a break once in a while will not only reduce its depreciation level but will also save you from maintenance fees and gas expenses. Taking a walk, riding a bike or travelling via public transportation will also lower your expenses.
6. Watch your bank and credit card statements
To further and specifically monitor your expenses, it will be wise to check your bank and credit card statements. Another reason to do so is because banks and credit card companies sometimes commit errors in your transactions which could cost you money.
Iyaz Kamias
Maja Limuyak
Valeen Kinitan

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Last Modified: 2017-Sep-19 23.31.24 UTC+0800