Today, we can say that most Filipinos have difficulties saving money. Phrases like “Petsa de Peligro” (the week before payday) and “Pautang” (get in debt) are common to us. We usually reason out that our salary isn’t enough. But what if we look at things from a different perspective? Instead of saying “I don’t have enough”, let’s say “I want to save up for something!”. Here are 5 steps on how to be able to save.
- Dream
Not the kind that you have while you sleep. They say it’s free to dream about things that you want to happen. Let’s use this to set a goal that you’d like to achieve. You can start small by thinking of things that you can easily get. A new phone, a bike, a laptop. Once you get there, you’d be inspired to save more to get something bigger.
- Set Goals
Once you decide on your dream, you need to set a goal. How much is the goal? When would you like to achieve that goal? What are you willing to set aside to reach that goal? These are important questions that would help you in setting your goal. Let’s have an example: You’d like to buy a phone that costs 5,000 pesos. You’d like to buy the phone in three months. You notice that you’ve been spending 500 pesos a week for buying coffee at a local coffee shop. You can instead buy instant coffee which costs 50 pesos a week. You’d be surprised that you can buy that phone in less than three months by doing this. Afterwards, you’d be used to drinking instant coffee that you continue doing that even after buying the phone. You’ll be hitting two birds with one stone!
- Take the first step
It’s easy to dream or set goals. But most of us stop at that. It’s mandatory that you take the first step, how hard it may be, to be able to reach your goal. The earlier you start, the earlier you finish.
- Think Long Term
You’re at the point where you’ve already reached your short-term goal. What should be next? Think big! Think about that house that you’d like to buy for you and your family. Or the latest smartphone/tablet, perfect for gaming to take your stress away. Those things would definitely damage your wallet. They might even be impossible given your current situation. But if you focus on your long-term goals, you’ll surely be able to get there.
- Take Care of Yourself
The most important step, even if it’s not for your financial goals. You need to prioritize on taking care of yourself. You need to be healthy to be able to reach your goals, right?
Hopefully, these steps would help you tackle the challenge of saving money in a different way. It’s actually easier to achieve something if you set clear goals. If you have additional tips on saving money, don’t hesitate to share them in the comments section below!
