Where Does Your Income Go?
- I spend a lot on Food and Transportation since I work in Makati and my transportation alone is 120pesos back and forth.
- I have mentioned on My New Budget and Spending Tracker how I track my spending. I believe this what makes the big difference when it comes to managing your money. The ability to track everything you spend on a particular day. Once you have master this you will surely earn financial discipline that your future self will thank you for.
- My Second Paycheck (30th of the Month) is usually bigger than my first paycheck (15th of the Month) so I maximize it to go automatically on my emergency fund. How? I have two Metrobank Accounts, my payroll account and my personal account. I transfer immediately a dedicated amount from my payroll account to my personal account through online banking. READ: The Different Saving Funds You Should Own
- I invest!!! If you still have no idea on how to invest I encourage you to check last week’s post How to Invest for Beginners in the Philippines. I added a quick story on how I became an investor at 19 years old.
- Monetary Gift to my parents. Actually my parents don’t ask anything from me (from us) at all but if you still remember my 20-something panic I have this thing for my parents… I feel like there’s so much they deserve and I want to do for them so badly. My gift isn’t much but my hope is it could ease their financial burden somehow.
- Of course I need my relaxation and personal pampering once in a while. And by once in a while I mean once a week. To be honest this is a big loop hole in my finances and I know that I could save a lot if only I stop being such an impulsive shopper. If you go over my personal blog you’ll know I had my mani-pedi experience at Let’s Face It Trinoma, I also buy a new book every pay day and once a month I do some shopping. Last Monday’s post on 4 Useful Tips to Live Within Your Means is a reminder for me to still live frugally no matter what.
- Event Hosting for all Occasion is something started when I was 17 years old college student. I earn per event or special occasion I book.
- Wedding Planner/Wedding Coordinator is something I venture after a year of hosting. I have a passion in planning events and wedding in particular give me so much happiness. I gathered my own wedding coordinator team and have been to Tagaytay, Antipolo, Batangas etc.
- Makeup and Hairstylist for Special Occasion is something I offer once in a while. I do hair and makeup for brides, entourage, debutant and guests.
- Blogging. My blogs SavingsPinay and IzzaGlino both started as a hobby and now they manage to give me some side income. I earn through ad spaces, sponsored post, blog contents and affiliate marketing. I also manage to get clients thanks to my blogs since it became my online portfolio.
- Freelance Writing. Writing has been part of my life since the beginning. I’ve been part of the school newspaper from elementary to high school. I took up BS Journalism in college and I currently work as a Technical Writer in Makati. It became apparent that I will become a freelance writer someday. It was the book So You Want to be a Freelancer that motivated me to enrich my writing skills and offer my service. Today, I work part-time on an SEO Content Writing Service based in Bangkok, Thailand.
1. Answer where does your income go? Grab a pen and paper and list down the areas where you spend your earnings from bills to unnecessary expenses. This will lead you to create you budget and will soon become your basis in managing your money every month, week or day.
Izza of SavingsPinay helps Filipinos bridge the financial literacy gap one content at a time by providing insights and tips on budgeting, saving, investing, side hustle and growing your net worth. Aside from this blog she also writes at www.izzaglinofull.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 firstname.lastname@example.org