How Saving P100 a Day Can Change Your Life
How many times do you spend P100 each day? What do you spend it on? Maybe that morning coffee to kick start work, a sandwich for your midday snack, or a couple of beer with your friends.
What if you made your own caffeine fix, packed your own sandwich to work, or had a cookout session with your friends at home?
A lot of us wouldn’t want to give up life’s simple delights, but imagine what could happen if you made a wiser choice and saved your P100 instead. Curious?
Here’s a list of great things you can do if you keep a P100 bill in your pocket every day.
If you save P100 a day for 1 month, you will have P3,000 to:
- Pay your cell phone bill for two months in advance
- Afford a new pair of cross-training shoes for a sport you’ve been meaning to take up
- Purchase 1000-peso worth of birthday presents for your best friend, sister, and mom
- Avail 10 boxing sessions plus membership fee at a gym
- Book a roundtrip flight—on promo fare—to your dream destination in the Philippines
- Invest in 2 hardbound books about web design or digital marketing
- Treat your dad to a fancy buffet dinner with wine to thank him for oh, just about everything
- Sign up for a weekend seminar that will teach you a thing or two about investing
Little investments can end up changing your life in the long run. So, why not start saving a P100 a day for a while longer? Fostering frugal habits a day at a time can do wonders in your life.
If you save P100 a day for 6 months, you will have P18,000 to:
- Pay off one month’s worth of amortization for a condo unit
- Cover a household’s worth of grocery items for about a month or two
- Book a round trip flight—on promo fare—to an Asian country you’ve always wanted to visit
- Pay a household’s electric bill for about 2 to 3 months
- Help send a kid to school via a sponsorship program or back-to-school project
- Finally pay off your credit card debt
- Begin a life insurance investment
- See through a month’s worth of rent
So, giving up that Starbucks cup of Joe isn’t too bad, right? You can right away see the benefits of saving up a hundred pesos a day for 6 months!
If you push yourself to save for a few more months, here’s what can happen.
If you save P100 a day for a year, you will have P36,000 to:
- Afford a brand new smartphone
- Have the family car’s air condition repaired
- Sponsor a college student’s tuition fee for one semester (full or partial)
- Invest in mutual funds or unit investment trust funds (UITF)
- Put in down payment for a new car
- Invest in a friend’s culinary talent and help set up his/her baking business
- Set aside actual emergency funds
Of course, all of us can use a little help in times of urgent financial needs such as pawning pre-loved items online, which is a safe and wise option too.
PawnHero, the first online pawnshop in Southeast Asia, provides an easy, fair, and convenient way to meet your short-term cash needs. Aside from the usual jewelry items, you can also use gadgets, luxury bags and watches, and appliances as collaterals. In just three easy steps, you can quickly pawn valuable items right in the comfort of your homes.
There’s no magic trick when it comes to saving big. The key is and will always be discipline. Saving a P100 a day may or may not be the most suitable way for you, but it will improve your approach in handling money.