We're back, sorry for the long vacation. I was busy looking for a new job and now it's been two months since i started working as a copywriter. It's a dream come true to write for a living! :)
With that shared, how can we save more of our salaries and get control over them? This is a no-brainer, but i would like to share it anyway. When i got my first salary, i decided to do "sorting" of money through ATM cards. My goal was to see how much i really make each pay day, how much do i spend, and what should be my weekly allowance.
Since then, i separated my salary from other income. Even if i have money on hand from other things, i will get my allowance from my salary account thru ATM since the allowance is for expenses related to work. By doing so, i get a very clear picture of how much is retained from my pay.
It's that simple and I may sound stupid for even sharing it. It's just that some people are confused whether they are earning or incurring more expenses than savings. Money and finances are really confusing because there are a lot of factors that affect our financial decisions. Sorting money and getting a clear picture on the amount we have on hand, is a great way to lessen the mental burden from finances. Also, you get to set aside part of your savings from other income and save them from being spent. That's exactly why rich people have separate bank accounts!
Saturday, September 29, 2007
Friday, May 18, 2007
Time Deposits
Time deposits are the most commonly known "investment" in the Philippines. The logic behind this is that you put your money into a long term savings account, meaning you can't touch your money for a certain period of years. Nowadays, there are already 360 day terms for those who can't afford to let their money stay in a bank for too long. Interests vary from 3% to 7%. Although very few banks offer a very high interest for time deposits. The longer your money stays with the bank, the higher the interests will become.
This is risk-free since most of the interest rates are fixed. The only risk is if you deal with smaller banks that offer very high interest rates that are very suspicious. Just be sure to research first before putting your money in their basket. Having a Time Deposit is like lending your money to the bank and the interest is like the premium they are paying you for lending some to them. Some say that when a bank badly needs money, interest rates tend to be higher.
This is risk-free since most of the interest rates are fixed. The only risk is if you deal with smaller banks that offer very high interest rates that are very suspicious. Just be sure to research first before putting your money in their basket. Having a Time Deposit is like lending your money to the bank and the interest is like the premium they are paying you for lending some to them. Some say that when a bank badly needs money, interest rates tend to be higher.
Wednesday, May 16, 2007
Are you buying an Asset or a Liability?
Often we find ourselves choosing between two items when shopping. But the important question to keep in mind is whether you are buying an ASSET or a LIABILITY. Definitely, it's better to buy something that you can earn from rather than an object that will cost you lots of expenses and would not earn you money.
A famous example is buying a car vs. buying insurance or investments. If you dont have a car yet, then go ahead and buy one. But for those who collects cars, they may be trapping themselves to expenses. Think: gas, repairs, etc. When you buy insurance or invest your money, you can let your money work for you! While you are doing nothing, your money is still earning interest and will give you more than you handed out. whereas, cars depreciate and lose value over time just like mobile phones! think of the nokia series, every year, prices go down as much as 50% and your mobile phone is less valuable than the day you first bought it.
The best to do is think hard first and think whether or not you are decreasing or increasing your wealth with every purchase.
A famous example is buying a car vs. buying insurance or investments. If you dont have a car yet, then go ahead and buy one. But for those who collects cars, they may be trapping themselves to expenses. Think: gas, repairs, etc. When you buy insurance or invest your money, you can let your money work for you! While you are doing nothing, your money is still earning interest and will give you more than you handed out. whereas, cars depreciate and lose value over time just like mobile phones! think of the nokia series, every year, prices go down as much as 50% and your mobile phone is less valuable than the day you first bought it.
The best to do is think hard first and think whether or not you are decreasing or increasing your wealth with every purchase.
Google Adsense
It was just last week that i started placing ads on my blogs via google adsense. Some may find it petty since at first, you will just be earning cents but come to think of it, it's just like having money in your bank account that earns interest. The difference is, instead of having monetary capital, the capital becomes your blog or your website. Isn't that a great way to earn some dollars? If you are into writing like me, this is something that you will enjoy doing.
Google Adsense is available in the Philippines. They pay via check when you reach $100. There are no deductions unless you choose an express delivery of your payment. Google is a well-known company too so this is definitely not a scam. example of google ads can be found here on this site, i have them at the sides,on top, and at the bottom.
You can click on the google adsense button on the side if you would like to sign up and start earning through your blog.
good luck!!!
Google Adsense is available in the Philippines. They pay via check when you reach $100. There are no deductions unless you choose an express delivery of your payment. Google is a well-known company too so this is definitely not a scam. example of google ads can be found here on this site, i have them at the sides,on top, and at the bottom.
You can click on the google adsense button on the side if you would like to sign up and start earning through your blog.
good luck!!!
Why Pinays should earn their own money
Hi! This is a new blog wherein you can read some non-professional money making techniques and strategies. I'm based in the Philippines but money is a universal concept. We all want to eliminate debt in order to start funding our own future. Most of the blogs about finance and investments i know are ran by male Filipinos and they are my inspiration for running this site too.
Pinays should also be educated on how to handle their money. As much as we want to have husbands that are good providers, it's always better to have a plan B and buy the things that we want for ourselves or live the life that we aspire to have independently.
I hope to hear from you too! I am not an expert but a mere individual who wants to learn also and become a pinay money maker :)If you have articles that you want to share , please email suzaku_lace@yahoo.com
Pinays should also be educated on how to handle their money. As much as we want to have husbands that are good providers, it's always better to have a plan B and buy the things that we want for ourselves or live the life that we aspire to have independently.
I hope to hear from you too! I am not an expert but a mere individual who wants to learn also and become a pinay money maker :)If you have articles that you want to share , please email suzaku_lace@yahoo.com
Subscribe to:
Posts (Atom)
