SHARE YOUR SECRETS in SAVINGS

[cebu.opportunities]

EIP acct... sa BDO UITF..... FAMI sa MEtrobank, automatic deduction sa sweldo....

OT: sa EIP account sa BDO UITF, inig muabot na 10k or minimum sa designated UITF, ayha pa siya ma-invested? while ga-accumulate pa, "regular" savings nga interest pa imo ma gain?

[pridi]

Salary - needs = savings

Salary - savings = needs

[makie29]

An efficient way of saving requires two things: technical knowledge about savings and/or investing and discipline.
The first one is easy to learn since information is readily available online, on bookstores or through mentors.
The second part is the challenging one. Saving and spending are both habits and the one that will dominate is the one that you do more.
We have to understand that we, humans, are spenders by nature. When we were kids, our natural tendency is to point to toys we want our parents to buy. We want instant gratification. Even as grown ups, we still save in order to spend. It's not wrong since we're all just wired that way.
But whether we like it or not, if we wish to accumulate money, we have to go the extra mile by disciplining ourselves.
Since saving is a habit, we should discipline ourselves and work on developing it. Once we develop such habit, things will be a lot easier.
So I guess for a start, let us look at our spending/saving habits first and see what are the things that we need to improve or better yet, change.
Savings is around 80% discipline and attitude and only around 20% technical knowledge. Even if you have all the knowledge about savings and investing if you don't have discipline, you can't go far. You may not even take a step forward.

[johnmangui]

Salary - savings = needs

Bali kog practice hahahaha

[simoncpu]

Nagmahay ko nganong nikuha ko ug credit card... karon, wala na ko credit cards pero black listed na ko... di na ko maka loan sa mga banks... lolz...

Anyway, what I'm doing is to use a debit card for electronic transactions. Then dili ra ko mag sigeg palit ug bisag unsa. Starmobile ra ako phone bisan ka afford ko ug iPhone. Then mag jeep ra ko o magbaktas instead of buying a car. Akong sandals kay "Tribu" instead ug kanang sosyal nga Sketchers, Adidas, ug etc... Akong extra kay gibutang nako sa Unionbank UITF Large Cap fund... nindot siya ug performance. Then naa sad ko gibutang sa Prulife, 15 years to pay. Wala pa siya na tarong ug diversify kay puros stocks ra ako assets karon, pero i-rebalance ra niya nako sila kung tigolang na ko... dapat naay gamay bonds and other fixed-income stuff.

Di lang ko sure karon kung sakto ba ako gi-buhat nga mag sigeg rent lang instead of buying a house.

EDIT: Naa pa ko additional tip:

Ayaw mo pailad anang seminar2x sa stock market about Technical Analysis. Nag usik2x ra ko ug kwarta ana. Way gamit, dili ma predict ang stock price movements based on some shapes. Mas effective pa kung imong tanawon kay fundamentals. Palit mo ug bluechips like BDO or ALI... ayaw mo pailad anang mga basura stocks like Calata. Dako ako nawala diha... Sa Forex sad, ayaw mo anang overleveraging. Naka profit lagi ko ug $3000 in 3 days wagtang sad in 3 seconds. The best way to invest is to invest slooooowly.

[Photochromic]

1. delayed gratification..
2. ayaw anang bisyo..( lagi, mamatay ra kitang tanang. The question is, when is when? basin mainutil pka pila ka tuig before mamatay..)
3. buy insurance> mahal magkasakit/madisgrasya> nya moingon mo "hospital nanghold-up?"
4. multiple source of income... invest or patuboa ang imong kwarta.. remember the fable of an Old man he gave money to his 3 servants?

[medwarc]

try to control that 9-year old kid of yours (inside your body). daku jud ni ma contribute sa mga decision nato like impulse buying...

[superidol]

first step jd naq ang Barrow. . next and invest. . 3rd save save save save. . dn back again but not on the borrowing part. . dritso na sa 2nd step invest and then save save save save again. . . . - - sayun ra kaau e sulti. . pro lisod ug dili jd lalim buhaton . . hehehe! kapoy pro xciting mn pd. . coz, 1 wrong move. . pwd mwala tnan. . hehehe!

[simoncpu]

first step jd naq ang Barrow. . next and invest. . 3rd save save save save. . dn back again but not on the borrowing part. . dritso na sa 2nd step invest and then save save save save again. . . . - - sayun ra kaau e sulti. . pro lisod ug dili jd lalim buhaton . . hehehe! kapoy pro xciting mn pd. . coz, 1 wrong move. . pwd mwala tnan. . hehehe!

Borrowing to invest is leveraging... a bad financial decision, unless you have enough liquidity and capital to absorb the risk. Unless you can borrow at almost 0% interest (i.e., like big banks), please don't do it.

You can borrow if you are skilled enough to start your own business though. Unlike stocks or forex, a business is something that you can control.

[medwarc]

I think there is no secret in savings. I mean almost people know how to save. back in our college/student years, if there is something we want to buy like shoes or pants, we save small amounts from our allowances till it accumulates. either we save it in weeks or months but the thing is we did a little sacrifice and there is the "reason" why we save.
So for you to save, find that big "why" and rest assured you will be motivated/encouraged to save. if your reason did not inspire you to save, then that's not your big "why". just my 2 cents...