Have you ever heard the line “Pay yourself first?”
It means that you set aside savings before spending anything.
But it seems like some people get it wrong, their idea is to buy what they want and save whatever is left of their income.
If this is how you handle your finances, let me tell you, there will be nothing left. Why? Because income is limited but expenses aren’t.
The right money value which I inherited from my parents is SAVE FIRST before I spend.
They taught me the principle 50-25-25.
- 50% SAVINGS
- 25% INVESTING / BUSINESS
- 25% SPENDING
For every peso I earn, 50 cents goes to savings.
25 cents goes to investment.
25 cents goes to spending.
This saving money challenge is one of the best ways to save money.
If I want to spend one peso, I have to earn four pesos, two pesos goes to savings, one peso goes to investing and one peso for spending.
That is how I acquired a saving habit at a young age.
This principle has indeed made my life easier and more comfortable.
Because the more I spend, the more I save.
I cannot spend without saving first.
Saving is still my priority before spending.
When I save money, I can live better.
LIVE TO PRIORITIZE SAVINGS BEFORE SPENDING.
What is important is that you prioritize your savings.
Become an Iponaryo and
Spend only after you’ve allotted an amount for savings.
Save early. Save regularly because saving makes money.
“Don’t miss a single payday without setting aside money for your savings.”
-Chinkee Tan, Top Motivational Speaker Philippines
THINK. REFLECT. APPLY.
- Are you a saver or spender?
- Why do you think you are one?
Become an Iponaryo this year and sign-up for Ipon Pa More event here,