Save Money: Smart and Sure Ways - By NadineAmanduh

5 Smart & Sure Ways To Save Money

I have to admit that I am not a big saver of  money. And I’m sure a lot of employees out there too. But it’s still better to save even just a little amount.  who knows? A little amount goes a long way. It’s not about just saving for the sake of saving. It’s about developing a behavior and value for money. I have done some research and came up with handful of ways to save money. However, not all of us has the same salary, same financial responsibility and same lifestyle. So it’s always good to do your own research and focus on how you are saving your earnings. SO I have come up with 5 Smart & Sure Ways To Save Money.

Save Money: Smart and Sure Ways - By NadineAmanduh

1. Enroll your payroll to online banking

First Smart But Sure Way To Save Money is setting up an online banking. Through this you’ll have more visibility of your money: earnings and savings. Not only that, you can track when and how often times do you withdraw. I personally suggest to not only to enroll your payroll but also enroll your savings account as well. It is much better if they are both under the same bank for easy monitoring of your money.

Save Money - Online banking

2. Change matters

You may notice that there are a few dollars/pesos left on your bank account and those amount cannot be withdrawn. So it’s just stays there. It’s sole purpose is for you to have enough credits in case the machine you withdraw out from (which is not from your bank’s ATM) had an amount to deduct from the account. Sometimes a few cents are left there and since you’re now enrolled in online banking you can easily money transfer those change into your savings. So change matters 🙂 As long as you keep doing this, it will go a long way. Again we wanted to develop a behavior of always having the initiative to save money no matter how small.

Save Money - Saving cents makes sense

3. Setup a monthly automatic online transfer

Consider having a designated amount of money to save from your payroll account to your savings account. You may be already enrolled to a lot of online automatic money transfers for your subscription of anything. DO NOT hesitate to set up your money for a monthly online transfer. Through this you’ll be able to save. It doesn’t have to be that big. Like for example, 1000 pesos a month will do. You will thank yourself in the future for doing this.

Save Money - Automatic Money Transfer

4. Don’t under-estimate the piggy bank (or money box)

it is very old school but it’s still good to have a piggy bank or a money box. The catch here is that there are only 2 types of coins that you’re going to put in it. Like what I’m teaching my daughter. She has this coin bank where she only puts 5 peso coins and 10 peso coins only on her coin bank. She’s doing that for more than a year and her coin bank is almost full. What we’re planning to do once its full, we will unlock it and put it on her savings account. Then start another coin bank.

Save Money - Piggy Bank

5. Separate wallet for smaller bills

It is unusual but its advisable. Another tip is to have a separate wallet (or small pouch) for smaller bills. Like at the end of the day, assess your wallet. Check for two types of small bills like the 20 peso and 50 peso bill. Which ever you prefer. If you have a lot of 20 peso bill on your wallet, get a few and put it on your pouch or other wallet. Keep doing this on a daily or weekly basis and don’t bring the smaller-bill wallet when you go out. You will be amazed that you are able to save just by starting this new habit.

Save Money - wallets

Save Money - wallets

I’ve included a savings planner that you can download here: Savings Planner  . This will help you out track your salary, how much you saved, your monthly fixed expenses, you allotted allowance for 2 cut offs of your monthly salary. Hope you find this very helpful 😉 Feel free to print it out and photocopy it.

I hope you like today’s blog post. Do you have other tips you would like to add on this list? Let me know in the comments below or contact me here, and be sure to leave your requests for any posts you’d like to read here on my blog too! Thanks for reading! 😉

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