A Guide to the 52-Week Challenge to Save Up to P50,000


The 52-Week Challenge has been a trending topic on the internet lately. In case you don’t know what it is, this challenge encourages people to save money from week 1 to week 52 of the calendar year. Ever since this idea has caught on with online users, a number of versions have been made out of this money-saving project.   Despite the slight variations, though, the end goal is still the same: to get people to save money week after week until they complete 52 weeks in savings.   Plus, by the time you complete the challenge, you will realize that a savings fund is a flexible source of money since you could use it for whatever purpose or goal you have in mind.   The 52-Week Challenge It’s interesting to point out that the 52-Week Challenge is named for a reason. How many times have you promised yourself that you are going to be serious about your savings goals, only to break somewhere along the way? Saving can indeed be a challenge or a struggle for … [Read more...]

6 Expenses You Should Cut to Save More


Have you ever wondered why you seem to be forever in limbo with your finances? You have a budget, you stick to it, and you try to save as much as you can, so what are you doing wrong? The culprit in your situation may be those tiny expenses, some of which you’re not totally conscious about, that accumulate in unimaginably huge amounts. Now may be the time to review your financial habits—starting with identifying the expenses you could have less of to help you save more. Cable subscription Cable subscriptions cost P900 on the average for basic plans, but premium accounts with bundled internet services can cut you back by as much as P1,400. To help you cut down on your cable bill, you could either go for a basic plan, especially if you only watch selected shows or if you’re subscribed to an internet service provider, you might want to consider dropping your cable subscription altogether. Alternatively, you could register with video-on-demand services like HOOQ, iFlix, … [Read more...]

A Guide to the Best Investments for Every Goal You Have


Some people can get caught up in the busyness of life whether education- or career-wise such that they barely have time to plan for their future. It also doesn’t help that they believe in the principle of living in the moment.   While it’s definitely reasonable to enjoy life as it happens, you also have to think about settling down with your family sooner or later. If you’ve started small and smart financial moves right now such as online pawning, then you’re in the right direction. From a financial viewpoint, preparing for one’s future as early as now is much better than starting late or not starting at all.   When you’re financially secure, you get to enjoy and live life more fully. You don’t have to worry about major family expenses or emergency situations since you’ve saved enough in investments. A good investment portfolio that matches your goals and financial standing, therefore, should be part of your overall financial plan.   You may use the … [Read more...]

How to be Financially Ready for the New Year


Being financially ready is a sign that you're responsible, mature, and completely independent. However, it's extra special to be financially ready when the new year comes because it can be a part of your new year's resolutions. The new year symbolizes a fresh start for everyone, so now is the time to evaluate your finances and get yourself on track for 2018. Follow these smart ways to handle your finances this coming year. Assess Your Income Whether you’re a full-time employee, a business man or entrepreneur, or a freelancer, it’s important to assess your monthly income. List down all your earnings to determine how much money comes in every month. This will help you create and maintain a realistic budget for the new year. If your income is irregular, then list down how much you earned for the last three months to get your base monthly income. For instance, you earned Php40,000 in September, Php50,000 in October, and Php45,000 in November. Use Php40,000 as your … [Read more...]

7 Sidelines for Extra Cash This Holiday Season


The holiday season is a festive celebration, especially for Filipinos who go the extra mile to make Christmas and New Year special for the whole family. Not only do we burn a hole in our wallets to give our loved ones Christmas presents, but we also splurge on festivities for Noche Buena and Media Noche. That’s why it’s important to have sidelines or side jobs that can help you earn extra income to spend this holiday season. Here are some ways you can make extra money this Christmas and New Year. Get Freelance Jobs It’s the gig economy, and there are hundreds of freelance jobs available on the internet such as Freelancer, UpWork, Fiverr, GetCraft, and more. You can be a web content writer, graphic artist, or virtual assistant. Ask your friends and colleagues if they know someone looking for part-timers as well. Join social media groups on Facebook and let people know that you’re looking for a job. You can also search job boards and social networks for freelance … [Read more...]

Scary Financial Moments and How Millennials Can Survive Them


Halloween stories are aplenty these days. You might have that friend who has a third eye and sees things that are out of this world or one who keeps dreaming of being chased by zombies and wakes up with anxiety attacks for fear of the walking dead. OK, the second one is probably due to binge-watching on Netflix or your local cable. The point is, listening to these stories is enough to bring chills down your spine. Pretty much how you feel upon finding out that your credit card has been suspended, at a time when your days of absence at work are going to cost you major cuts in your next salary. Seriously, could things get any worse? That’s not quite impossible, especially if you’re part of today’s generation of millennials who may be too naïve to learn how to avoid the pitfalls of mismanaging one’s money. While financial problems could happen to anyone, you could make a resolution to be wise on how you spend. The goal is to spare yourself from coming face to face with these … [Read more...]

Bad Financial Habits to Break Before the Year Ends


As 2017 comes to a close, it’s time to turn over a new leaf and get rid of all sorts of bad habits, financial habits, included. From spending more than you earn, unnecessary and impulsive purchases, taking from your savings, making late payments, not tracking your expenses, and not putting money to the side—all those money mistakes you’ve been guilty of this year must come to an end. If you want to be financially stable in the future, then having good financial habits should start now. Not to mention, be caught up in money woes should an emergency arise. Start preparing for your future by taking control of your expenses. Here are some bad financial habits you need to break before the year ends: Spending More Than You Earn You are spending more than you earn if you have a little money left at the end of the month. But, you can put an end to this habit by budgeting your money to make sure that your income covers all your expenses, while still having some left for savings … [Read more...]

How to Manage Your Monthly Income Using the 50/30/20 Rule


Budgeting may be a painstaking task, but people who practice it swear it works for them. Just look at budget-conscious folks in your circle. They seem to be doing better financially with very little debt on one hand and a considerable amount of emergency funds on the other. Since budgeting is deeply ingrained in their system, you can almost be sure that they will be enjoying a financially stable life in the future. Considering that they have their own share of expenses, you might wonder how they budget their income effectively. The key is to come up with money-related strategies that will work for both your means and needs, whether it’s getting a short-term loan through online pawning or the 50/30/20 rule in budgeting.         Step 1: Calculate your net income It might not be possible to determine up to the last centavo how much you’ll be earning at the end of the month, especially if you’re self-employed or managing a business. However, you … [Read more...]

How Not to Worry About Money in the Future


You probably dream about spending and not worrying about money. Then again, it’s not easy having day-to-day expenses and not having much money left over. Fortunately, you can worry less about money and spend as much as you want, although it might take a few years before you can achieve this. However, with the right amount of discipline, you can make this happen and achieve financial freedom. Minor changes in your spending habits now can help you reach your goals in the future. You don’t have to be earning lots to have a great future. You just need to know how to handle your expenses and learn to save. Start now and worry less in the future. Here’s how:   Have Multiple Sources of Income   Even if you have a full-time job, you can always try working for extra income. You can freelance as an analyst, consultant, or virtual assistant. You can even rent out your property or have a small business on the side. If you have valuable items you no longer use or want, … [Read more...]

5 Challenges Holding You Back from Achieving Financial Freedom


Whether you’re single or married with kids, you have day-to-day expenses to think about. You pay for bills, your daily commute, food, gadgets, and so much more. But of course, you don’t want to worry about what’s left in your bank account every time you spend. Everyone wants financial freedom. When you’re financially free, you can purchase an item without it being on sale, retire earlier, focus on a career you love, take up a new hobby, and travel in different places. However, some challenges might get in the way of you achieving your financial freedom. But, there are ways to overcome them, such as learning to control your expenses, planning for your future at a young age, not accumulating huge amount of debts, and even considering online pawning when short during emergencies. Understand the challenges that hold you back from achieving financial freedom, so you can avoid and overcome them. Poor Money Management via GIPHY Budgeting your money can take a while to … [Read more...]