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Saving Your Hard Earned Money


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#1 MTBCommuter

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Posted 12 January 2005 - 10:43 AM

After the stress inducing holidays, I looked back on what had happened. Endless Christmas and New Year Parties. Expenses here, expenses there, whew! My energy is drained! I also notice that my once-stuffed wallet is now thin! No more ninoys, only two quezons. What the heck happened?
So it's time once again to work on ways to save money! Any smart ideas that can help us stash our hard earned money, please post it here....

#2 ATONG ANG

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Posted 12 January 2005 - 11:07 PM

the best idea, less visits to your favorite mp's.

#3 MTBCommuter

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Posted 13 January 2005 - 08:52 AM

Great advice Sir Atong! hehe.

#4 MTBCommuter

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Posted 13 January 2005 - 08:55 AM

I am currently reading Rich Dad Poor Dad by Robert Kyosaki. Well, I'm rereading it actually, to get to know it again. Bought the book last 2001.
Emphasizes not only saving money but on investing it as well

#5 lord_gate

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Posted 16 January 2005 - 05:15 PM

avoid dating for 1 month,

it would save you few thousand box...

:cool: :cool: :cool:

#6 lord_gate

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Posted 16 January 2005 - 05:18 PM

avoid malete muna or libis...

you'll see!!! kakapal ng 3 times ang wallet mo

#7 jt2003

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Posted 17 January 2005 - 05:12 AM

I am currently reading Rich Dad Poor Dad by Robert Kyosaki. Well, I'm rereading it actually, to get to know it again. Bought the book last 2001.
Emphasizes not only saving money but on investing it as well

<{POST_SNAPBACK}>


The book makes certain assumptions that don't apply to our impoverished PI. One of the worst assumptions is that you actually have enough money to save or use, so that it can work for you. You can't have money work for you (the book's basic premise) if you can't make money at all (or use most of what you make on necessities), which is the biggest problem for majority of Filipinos. For instance, you need at least 50k just to open a trading account in our beloved PI. If you don't have that, there's no sense in speaking of investing in securities. And all the stories in the book on real estate investing seem specific to the US.

But it's still a good book that gives valuable insights on investing ... if you're talking about the NYSE and other foreign markets. The PI market? Securities, real estate, or otherwise? Well.....

Edited by jt2003, 17 January 2005 - 06:22 AM.


#8 MTBCommuter

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Posted 17 January 2005 - 08:58 AM

Tama ka dyan.
It assumes dapat may pera para mag invest. It will give you the right mindset to overcome the rut we are in.

#9 Google

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Posted 17 January 2005 - 09:32 AM

the best idea,  less visits to your favorite mp's.

<{POST_SNAPBACK}>




hahahah! been doing that already.... :)
two months na ata akong di nakakapasyal sa aking fave MP.

#10 MTBCommuter

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Posted 18 January 2005 - 01:26 PM

pareho tayo mr google. hindi na din ako bumibisita. ala pera eh
invest ko na lang sa autoload at eload

#11 Anaheim

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Posted 19 January 2005 - 05:39 PM

tips? simple lang yan mga pare ko. if you have a business and your income comes on a daily basis...try depositing the excess money in the bank on a daily basis and leave the remaining money for necessities. of course, your daily income saved per month is reflected on your bank book. try investing your hard earned cash in T-bills or treasury bill bonds which are available at any bank. T-bills yeild higher interest than money saved in a savings account. The bigger the money you invest on T-bills the bigger the interests...para ka ng namumulot ng pera every month. sarap!

Edited by Anaheim, 19 January 2005 - 05:40 PM.


#12 papable

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Posted 19 January 2005 - 10:56 PM

Aside from putting your money in a bank that yields higher interest (i.e., t-bill, trust funds, time deposits), I always decide by determining using the want versus need choices. If you see anything you want to buy or any activities you want to do, ask yourself the question: "Do I need it or do I just want it?" Another way of asking yourself is: "Do I need it now or can I live without it for the time being?" I hope this helps.

#13 privatefan

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Posted 20 January 2005 - 12:36 AM

Save at least 20% of your income if you can every month. Put this in the bank. Don't spend this money unless absolutely neccessary.

If you see something that you want to buy but is not in the budget. Save for it. It will take sometime and patience. Set a goal and follow it. Say you want to buy something worth 5000 pesos. Put away 500 every month and you can buy it at the end of 10 months.

#14 jt2003

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Posted 20 January 2005 - 07:29 AM

Treasury bills are beyond the means of us common folk. But every now and again, retail treasury bills in denominations of P5,000 are issued. These are supposed to be guaranteed by the government. What's scary, though, is the cash position of the government these days. With such a huge budget deficit, you have to wonder if the government's guarantee is actually guaranteed.

#15 freakish

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Posted 20 January 2005 - 07:56 AM

calculate your monthly expenses, multiply it by 6 months. The total should be at least the amount of money that is in your savings account.
Don't spend it a cent from that savings.
budget your expenses per weekly basis...just spend what is on your budget, nothing more nothing less.

#16 addila

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Posted 20 January 2005 - 03:58 PM

Aside from putting your money in a bank that yields higher interest (i.e., t-bill, trust funds, time deposits), I always decide by determining using the want versus need choices.  If you see anything you want to buy or any activities you want to do, ask yourself the question: "Do I need it or do I just want it?" Another way of asking yourself is: "Do I need it now or can I live without it for the time being?" I hope this helps.

<{POST_SNAPBACK}>



tumpak!!... and set your budget in a weekly or monthly basis!

#17 Lana

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Posted 20 January 2005 - 05:30 PM

You can try insurance actually. It's not just about being insured in case something happens to you or your family, but nowadays they're more or less geared towards yielding the policy holder additional dividends. These are long term though and maturity is dependent on the type of policy you choose to take out on. They actually yield a higher percentage than just depositing money in the bank.

If you do decide to go into it, make sure you choose an insurance company that (obviously) has a good track record (e.g. paying out properly) and a long history (there are some that go back as far as 100 years).

There are also pension plans and I think you can see yields sooner than if you take out an insurance policy.

When it comes to insurance investment, it's never too early to start out (if you've got kids, you can start paying for their insurance so they'll have something when they turn 18 or so to help them out or take out an education plan for when they get into college). Oh, and the younger you are, the lower the premiums you need to pay. (Obviously, the older you are, it's more expensive since the risks of you getting sick/dying *morbid* are a lot higher).

*I am neither an insurance agent nor am I in finance :P

One more thing. Don't put all your eggs in one basket. That's why you shouldn't invest everything in just one insurance company (or just in insurance for that matter). Opening a savings account is still advisable. Just shop around for the best rates and HAVE a separate account WITHOUT an ATM card :P Kaya nauubos pera ko e. Hahahaha... Then, once you've hopefully accumulated enough money, you can possibly place it in a time deposit account or T-bill or bonds or mutual funds. Beware the risks because some of them do not have guaranteed yields and are subject to market rates.

Damn. That's a long-ass post. :P

#18 E. Fitzhume

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Posted 21 January 2005 - 12:28 AM

Every payday, pay yourself first and put it in a savings account.

#19 MTBCommuter

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Posted 21 January 2005 - 07:48 AM

The basic principle of Rich dad poor dad is to know the difference between an asset and liability. Bob Kyosaki advises us to minimize liabilities and increase assets. He says it doesnt matter how much you earn but how much you spend, based on what you earn.

#20 MTBCommuter

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Posted 24 January 2005 - 01:38 PM

Tanong sa akin ng mga kakilala ko if going to the states would uplift your life.
My answer is in a way yes, but only if you save your hard earned money and invest on a sensible business




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