Let’s Talk About Money

Liz talked about it, and Joni asked the question: how much do I save every payday?

Aha. It’s timely to talk about this, now that I’m low on fund and about to get my first pay from my new employer. Now, from my old employer, my salary wasn’t that high¹, so for the first months, I had a hard time saving. True, most of my money goes to my own expenses, like food…um, books. And whatnot. I especially started running low on funds after Christmas, when I got my entire family gifts. Not that I mind, because it felt nice to give presents that I bought with my own money.

But after Christmas, I knew I should start saving. Not because I wanted to go somewhere, but because I know I should start learning to save. But it’s hard. Most of the times I end up wondering where the money went, when I don’t really buy clothes, shoes or bags. Most of them goes to food, to books, transportation. The others go to my cellphone bill, while a portion goes to my mom and others are to pay off some debts. After paying all the latter, I find myself tightening my belt and praying that the next payday comes soon.

GRAR, why does money go away so fast?!

Sometime around May, Jomar taught me this really cool and practical way to divide whatever money I receive to make sure I have enough for myself, my expenses, my savings and even to give. I’m not sure if he blogged about this already, but let me share it with you anyway.

So, everytime you receive some cash, divide it this way and in this order:

• 10% for Financial Freedom - This division is the one that you should never EVER touch, not until you are ready to invest in a business, or anything else that would make the money you saved here grow.
• 5-10% for Giving - This division is for giving/charity. To church, to whatever charity you are supporting. Yes, this is also important. It’s true that the more you give, the more it comes back to you.
• 10% for Education - This is for anything that you can spend for you to learn something. Jomar’s main suggestion was for learning how to invest in businesses, or how to earn, etc. But I think it could be for other things too, as long as you will be learning from it. Like, say, registering for a dance lesson, or a writing class. Or buying a book about cooking. If you’re taking up a postgraduate class, it could be saved as part of your tuition or for your books. Things like that. Although I think the education part has to be related to the business you have in mind. :D
• 10% for Play - This is important and you should not miss this one. The Play account is where you reward yourself. This is the money you use to buy yourself a book, or clothes, or treat yourself out and such. This has to be spent within three months — so say, you save around P500 every month for play, and you want to have a whole body massage and spa that costs P1500, you save your play account for three months and get that massage. If the thing you want to get costs more than three months of your Play, then it goes to…
• 10% for Long Term Investment - This is for things you want to buy that could not be saved up in three months with the play account. For example, you want to buy a new laptop, you get the money to spend it on the Long Term Investment division. Or like me, for the Sydney trip next year. Note that you don’t save for something you would pay for a credit card. The idea here is what you save for, you pay for it in cash (now that would probably feel so good!).
• And finally, 50-55% for your Expenses - This includes food, transportation, cellphone load/bills, credit card bills, etc. Anything for your expenses that does not fall into any of those up there, it goes here.

So for example, I get Php 1000. I save P100 each for Financial Freedom, Giving, Education, Play and Long Term (that’s P500) and the remaining P500 will be for my other expenses. Get it?

The important parts here are the first and the last one; the four in between can be switched orders. Never forget to save 10% for the Financial Freedom, and save Expenses for last. The important thing is you set aside a part of your earnings for your savings. :) Which is really the point, right? And you must do this for every money that you get, as in every little amount. As what Jomar said, it’s the habit of saving that needs to be developed here. :D

Have I tried this yet? I did, starting May. Although the thing is, I ended up spending the money I saved because of the resignation and the late salary and that I had to shoulder some of the expenses at home ever since my mom flew to Saipan.

Will I follow this again? I will, because it’s an organized way to be able to save money. You know how I like things organized. ;) And I have a pretty good feeling this would really work for me.

Okay, now I can’t wait for payday. Please come soon! How about you? How do you make your savings?

1. Oh, give me a break; it’s a record low for someone in my field! [«]

On Responsibility and Service

I just spent a totally lazy day inside the house, doing nothing except watch TV, fix the layout of the site and the content and tweak Mission: Sydney. Now it’s already past seven, and I’m still here, in front of the computer and the TV.

Hmm, something’s wrong here.

Well, the reason why I’m stuck here at home is mainly because I’m broke. My salary is not here yet since I didn’t make it to the cut off for the salary to come last Friday. I have some money leftover from my last salary, but it’s got to last me until payday. Plus the fact that I slept off the afternoon because I slept late again last night waiting for my brother.

To be totally honest, I was supposed to be somewhere earlier this afternoon, but I was hit by my being antisocial and katam¹ so I sat it out. With a teeny “lie”.

(More…)

1. katamaran, or laziness :p [«]

Off to Sydney we go!

After a long short while of preparations, I actually made it on time to launch this newest blog in the Refine Me family. Friends, I welcome you to my yearlong mission, my first ever travel escapade that I will save up for with my own money, plan for and will make sure it comes true:

A Pilgrim’s Dream to visit the Harbour City and join WYD 2008.

It’s exactly one year before the WYD 2008 in Sydney, and I’ve mentioned it a couple of times before: I’m going to Sydney in 2008 to be a part of this event, and visit Hillsong Church on the side. :) Itaga sa bato!

And just like the geek blogger I am, I just had to document this journey. So hello, Mission: Sydney, my blog to share with the entire blogosphere all about my pre-, during and post-WYD2008 adventures (yes, even if I have not yet saved and have not yet registered, I’m claiming that I will be able to go there. :D Wohoo!). :)

So all Sydney/WYD2008 related posts will be in Mission: Sydney, starting now. I’ve got a year to get ready for this, and if you want to join me in this adventure, let me know so we can plan together!

This is the great adventure! Off we go!

PPP Love

I’ve only started to take blogging seriously after the Blog Parteeh, and i now realize how powerful blog marketing is. It’s amazing how people can actually earn just from blogging. Who knew a simple hobby can become a source of income?

I just signed up for PayPerPost last June, and I have made a little less than $100 in month. All I needed to do is pick up a topic, be a bit creative and write, and it’s dollars coming in. How cool and easy is that? What’s cool is that I get to choose which things I can post about, and it takes only what, 50 words to make $5? Really, really cool. I now how people are loyal to PayPerPost, because it really does work. :)

So if you like blogging and you want to earn some money, sign up for PPP! It works, promise!

Upcoming Events, July to September

Harry Potter and the Deathly Hallows release. Just seven more days as of this posting! Wohoo! This is the first time I reserved a Harry Potter book, as I mentioned 160 days before this post (Wow it’s been that long since I posted that). I reserved my copy at NBS Bestsellers in Galleria (that new, Powerbooks-like National Bookstore subsidiary, top floor of Galleria), and I will pick that up together with my Laking National card and a paperback copy of The Fourth Bear by Jasper Fforde (I’m sure there’s a copy there).

I feel kind of sad that the entire series is ending by Saturday next week, but that’s the way it is. It’s the same way I felt when I read the last Animorphs book — everything must come to an end. So does this. I bet I’ll shed some tears with this. I may not be a complete Potterhead like the others, but I love this series, and finishing it off feels like saying goodbye to a friend. Sigh.

Oh yeah, I haven’t watched the movie yet. Oops!

Don Moen in Manila. I was looking at House of Praise when I saw the poster of Don Moen’s Manila tour. Yes, he’s coming here (again, I think). To those who don’t know who Don Moen is, he’s one of the pillars of worship music, with popular songs Give Thanks, God Will Make a Way and God is Good under his belt. His show dates are:

• July 27, 2007 - The Pacific Grand Ballroom at Waterfront Cebu City Hotel, 8:00pm
• July 28, 2007 - Araneta Coliseum, 4:00pm and 8:00pm
• July 29, 2007 - Freedom Ring Ampitheater at Clark Expo, Pampanga, 5:00pm
• July 31, 2007 - The Summit Center, Zamboanga City, 7:00pm

Tickets for this event are available at all SM Ticketnet outlets (911-5555). For more information, call Maximedia at 551-7777.

Switchfoot in Manila! After so many delays, Switchfoot is finally coming to Manila! If you’re a Switchfoot fan, you must not miss this! If you’re not, well, you shouldn’t miss this either since it’s a once in a lifetime event! They’ll be here on September 10, 2007, 7:30pm at the Cuneta Astrodome. Ticket prices are Php 1200, 1000, 800, 600, 400 and 250. More info on this in the coming days, but again I say, don’t miss this event! This concert is for the benefit of International Justice Mission. Oh, and one of their band members, Jerome Fontamillas is a Filipino, so this is a definite event to watch. :) I’m selling tickets, so if you’re interested, post a comment here, or email me with the subject, Switchfoot. You may also visit the Switchfoot in Manila blog -> switchfootmanila.blogspot.com.

There are also other events to watch out for, especially in September: Fall Out Boy and Elliott Yamin, I hear? I’m not a fan, but some of you might be, so go clicky. :)