Your TIPS in Saving Money?

[lady_yan]

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bitaw.. same here... i'm willing to invest my money basta sure lang jud na ha. daghan man gud scams karon. they make lots of promises nya tiklo ra jud nila imo money. banko ra pud nko deposit ako money for security reasons..

[lady_yan]

uso pa gni nako ang alkansiya.. kanang mabuak bah.. helpful man pud kay kada mapuno, naa diay koy masave around 4k to 5k... 10 peso coin rman ako isud.

[Master_Lampa]

dont bet in a game of chance.. maka addict man gud.

[ramiscar]

save 10 peso coins sa alkancya unya buaka pag christmas unya kana ang igasto.. Then isave nalang gyud ang 13th month pay nmu....

[ajol]

live below thy means

[emow]

no offense sa alkansiya but i think you should leave that to kids. its a good way to learn saving though, but as a start only. you're losing value to your money in the can. why? simple! inflation! try saving 10 pesos everyday for 1 year and you'll have 3650pesos. if the inflation rate is 9%, then the real value of that money you save is only 3321.5.... i think the only way to solve money problem is to study about money.... cut your spending, and be creative in growing money. plainly putting coins in a can, is no longer feasible.

[ramiscar]

^^ that is if you put 1 10 peso coin per day. what if you put 5 10 peso coin per day? or even mix it with 100 bills in a can? I've done that and save almost 10k. And after saving that, invest it in a mutual fund where interest rates are much higher than just putting it in a bank.. still not creative?

[emow]

that's my point. not relying on the traditional alkansya. if that's what you do and you are really generating money beyond inflation then continue doing what you're doing.

[honey2723]

correct! save to invest jud. not save to spend... if you have to spend, mas nindot kung ang spendings nimo gkan didto sa tubo sa imong money... mas nindot di ba it's your money working for you and you enjoying the fruits of your money!

[honey2723]

by the way, banks are only good to safe keep your emergency funds, which is 6x your monthly salary. (i.e. monthly salary is P10,000, therefore 10,000 x 6 = 60,000) then, you should only keep that amount in the bank. If you have more than that amount in the bank, then you are not giving your money the full potential to grow. You have to invest the excess in other investment vehicles. Make sure to choose wisely on these investment vehicles and they meet your needs. The reason for this is again, as one of you mentioned, inflation. If you only save in the bank, your money's buying power will not be the same by the time you need it because the bank can't give you the same interest rates as the inflation. Why are you afraid to invest, when the banks themselves make money by investing in different investment vehicles. The banks invest YOUR money and they give you only a percentage of what they earn. Investing is good as long as you equip yourself on how money works.

If you want to learn some more, I might be able to enlighten you. Just pm me or txt me at this number. 0922-823-2782.