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How To Save within Your Salary?

July 20, 2014
Ever wonder how you’ll save with the salary you are earning? Then this post is just for you!

Photo from Google Image

As a 20year old fresh graduate who just started her career in Makati I am not embarrassed to announce that I earn less than 15,000pesos a month. Hey, I’m just new and I’m only living the “Makati Girl” peg for just 5 months and counting. I can also proudly say that what I earn from my sidelines like events is even more than what I earn in the job I have chosen.

Imagine this… (modesty aside) the half of my salary I earn that for just mere 4hours of hosting or other event related gigs.
But this post is not about my salary or my job or my whatsoever. This post is about HOW YOU CAN SAVE WITHIN YOUR SALARY. From those earning 10,000pesos to those who have as high as 20,000pesos a month. Let’s start.
 10,000PESOS

As someone who is starting out it would mean to do the SLOWLY BUT SURELY SAVING.
It shouldn’t be forgotten that you are getting an amount that may be lesser than your expenses. Make sure to follow these three tips.
  1. Live Less– Do not be bounded by the pa-sosyal society. Try to live simply but still in the alignment of your goals. Instead of buying drinks in the cafeteria, bring your own bottle and you will save a lot of pesos. Eat in the pantry together with your new-found work buddies instead of going alone to fast food because it might cause you to order more.
  2. Start Learning– Stock up on knowledge for it will make you be better in handling your finances. Try to buy books about saving up and/or if you are saving do this trick that I did before, I go to the bookstore and find books that are opened and read there. I love National Bookstore Glorietta and also Powerbooks Greenbelt for the wide variety of book selection!
  3. Save 1000/month– 1000 a month is big enough for a newbie. Try the 50-30-20 Rule of Budgeting to truly maximize the potential of your starting salary.
 15,000PESOS
As someone who got his/her first rise it would mean to do the MAINTAIN AND SUSTAIN YOUR CASHFLOW
These three tricks will help you sustain your cash flow with your first raise. The idea is to level up your goals and objectives in your finances.
  1. Build an Emergency Fund– Since you were able to live with your newbie salary it would be nice to have any portion of your raise as part of your Emergency Fund. Make sure to build your emergency fund in account that you can’t easily withdraw.
  2. Live Simpler– Don’t rely on your raise and just act as if nothing happened. Top up your investment from 1000 a month to 3,000 a month or more. This way you will save a lot at the end of the year.
  3. Reward yourself– Once in a while try to reward yourself to be able feel more inspired. Just make sure to do it ONCE-in-a-while.
Photo from Google Image
20,000PESOS
As someone who got rewarded with major promotion it would mean to TAKE RISK AND INVEST.
Follow the tricks below to amplify the growth of your money and work your way towards financial freedom.
  1. Take Every Opportunity– Do not just stay with your job and instead find some sidelines or other opportunities that will make you grow your finances. Sell online or tutor someone or maybe start blogging and accommodating advertisements from other.
  2. Work out your Portfolio Income– Remember my post on 3 Types of Income??? Now that you are on a major promotion it will be timely to start working out on your portfolio income by finding means to invest of either mutual fund, stock market or VUL accounts. Start as early as possible for it your money will mature better that way.
  3. Commit– Make saving a habit. Be sure to save and invest on a regular basis. Once it became part if your routine you’ll be able to handle every financial battle that might come your way.
YOU hold the key to your success and there’s always a way on everything in the world. No matter how much your income is, there’s always a WAY TO SAVE!
Happy Saving!

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Clariza Glino

Izza of SavingsPinay promotes financial literacy for the young and young at heart by providing insights and tips on budgeting, saving, investing and online entrepreneurship. Aside from this blog she also writes at www.izzaglino.com, a beauty and lifestyle blog for frugal Pinays and manages, www.izzagevents.com, a wedding and event business since 2011. For inquiries, topic suggestions or future collaborations email her at izza@savingspinay.ph

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