A penny saved is a penny earned


At this very moment, I pledge my heart, my soul, and my dignity to truly save 50% of my allowance and put it on a very secured piggy bank. My savings will be my happiness as it will be used to buy any things that I ever dreamed to have.
Starting on this month until September 2016, I should have a total savings of Php 10,000.00. Total savings planned every month should be followed. Any reason that the rule is disregard, the total savings for the next month will increase to compensate for the reduction.  

sgd
Fiona



Hi everyone! As you can see I just have my pledge above. I am actually serious about it. I have notice that I have a lot of things that I want to own ever since but I never have them. For the past years, I save poorly because I have no exact or formal plans on my goal. So, this time I created a savings plan! Hopefully I can keep this up and this is actually a basic savings plans, not a very professional one though.

Disclaimer: I am not very knowledgeable when it comes to money, but what I created here is just from my mere planning skills. Things may depend on every people. 



So here is how I will save my money. 

1. Make a time frame. This part will depend on you. If you want to save for a period of 4 or 8 months or a year, that will be alright. But as for me, I'll have it 6 months. 

2. Allot the amount you want to save. This is something that I learned from Bianca Gonzales in her book Paano ba 'to?. Savings is not what have left from your money. Savings should be better of separated beforehand from the money that you will use.
For example, if I have an allowance of Php 100.00, I'll just take half of it for my whole day expenses and the other half will be set aside. Just put your savings on the other compartment of your wallet in case of emergency. Take note...for emergency only. If you are craving for something, control yourself. 

3. Make everyday a savings day. I think it would be better to save everyday than save every week. The advantage of saving everyday is you have a good control over your money for that day alone. I mean, you can easily track your expenses like food and fare. 

4. Monitor your total savings. I think it would be nice to monitor it every week and at the end of the month so that you would really know how far you are of being a good money saver! 

5. Make up for the money used. If you used the savings, better to replace it by adding an amount in your everyday savings. For instance, if you originally save Php 50.00 a day, in the next week or next month you'll increase it to Php 55.00 until you make up for the money used.

6. Pledge it. Well, I cannot find a more appropriate one to make me do it but pledging might do the work. I think posting a pledge on my blog would somehow push me to do it knowing that other people will really witness it. But, this step isn't necessary.

7. Patience, will, and discipline. Don't forget that attitude drives you in the process. Keep on going and think about the feeling of achieving it. 



CONVERSATION

10 comments:

  1. Good luck with your savings! :) I need to start saving as well!

    Renee | Lose The Road

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  2. Good post!! I do the same thing when I'm planning to go to a trip or if i want to buy something!!!

    Emmi - justemzs.blogspot.com

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  3. This is a great post and really useful too - I'm currently trying to save up so I can travel back down South and see my friends over the summer so I definitely needed to see this! Good luck with saving up too Fiona! - Tasha

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    1. Awwe hope you have a great time with your friends Tasha! Thank you! I'm glad you find it useful :D

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  4. Good luck with your savings! I'm going to try to set up a schedule too, I want to save up for a trip to Asia in 2017.

    I think I should send this post to an old friend of mine. She always said she was going to save up, then at the end of the week she'd look at the amount of money she'd saved and spend it on clothes - every single week!

    x Envy
    Lost in Translation

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    1. Hahaha. I also have that kind of moment, Envy. Feel free to share my post to her, it might help her save :) Good luck with your savings too! Have a nice day!

      trulyfionaa.blogspot.com

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