UPDATE On My Money Resolutions 2016
One of my favorite posts last year was about My Money Resolutions. It is just nice that I was able to write down once and for all the things that I want to resolve in terms of how I manage my money. As always writing things have a lot of benefit and I am happy to announce that almost all of my money resolutions were settled. I found the solutions through the right tool and proper mind set that I want to share to you. Thus, today we will be revisiting My Money Resolutions followed by the their current status and what I did to sort them out.
Track My Expenses on a notebook
Last October I finally found a simple way to track my spending. I admit that I wasn’t that consistent but still I had a record of my expenses for the whole -ber month. This gave me a better perspective on how I spend my money and whether I am wise enough on what I buy. I currently use a new spending tracker and if you want to learn about it simply click HERE.
- Find a system that works for you. If an app or digital tracking is better for you then do it, if not then stick to a notebook.
- Make it part of your habit. It will be daunting at first but when you’ll definitely get used to it.
- Make a review at the end of the week to reflect on how well you have spent your money.
Put all my coins at the end of the day in a Piggy Bank
Well, I didn’t do this last year but this year I am definitely so into this saving method. Instead all my coins I decided to pick a denomination that I can save whenever I have it. It’s hard to explain but what I do is save every 10peso coin that I have at the of the day. Since I am already doing the 52 Week Money Challenge I decided that this Piggy Bank saving method could start on a low amount and 10pesos will do. Hopefully it’ll be a success.
Commit to my Budget
Hooray for being such a martyr when it comes to budgeting. Even if it doesn’t love me back I still continue to create a budget and pray I’ll commit to it every month, every week and every day. You can again read the post on My New Budget and Spending Tracker Notebook for more information. Also I encourage you to read my Financial Planning 101 Series for it will give a better view on how to create a solid financial plan this 2016.
Check my Paycheck
As always it is best to study your paycheck. On my new notebook I’ve been logging how much my income is per cut off. Also I try to look at my paycheck once given and ask Nica (my HR BFF) if ever I am confused or I have things I don’t understand. Priority to do for me is to finally enroll an SSS online account so I can track my SSS contributions same thing for my PhilHealth and PAGIBIG. READ: All About PhilHealth
Save Unexpected Income
I did have some extra income last year that I’ll be forever thankful for. This year I wanted to save more and open more income streams. My saving goals post will be published hopefully next week so you’ll have idea on what I am saving up for but anyway the only solution I have with this is frankly, if you want to save more you need to earn more. And if you want to earn more you have to use your talent, your skills and your time wisely.
POSTS ABOUT EXTRA INCOME:
Oct 9, 2014 … Do you wonder how you can earn extra income aside from your daily allowance? How about the income you make in your work? Then fret no …
Sep 3, 2015 … I’ve been a long believer that one should never be satisfied with just one source of income. So I learned to work my butt off just to earn a living …
Apr 13, 2015 … Never be satisfied with just one source of income. This is not just a tip but rather a command. Nowadays, having additional income just opens …
May 6, 2015 … Today, having an additional income is not just an option. It is a necessity. If you truly strive for financial freedom then you need multiple sources …
Feb 17, 2015 … However my monthly income includes my salary, my freelance writing payments, my blog income and my events. My expenses just includes the …