My Tips on How to Save and Earn More

When I was in high school my parents were giving me money to buy lunch at school and I remember saving some of it because I hate the idea of having no money seen in my wallet. I must say I was good at saving to the point that at the end of the school year, I reward myself with nice clothes (not a lot though! I am stingy even to myself.) Back then saving was pretty easy because I was only using my money for basic “student needs” like transportation, food, some projects and well, class fund.

So when I started earning on my own there comes the real struggle of saving because of the #adultingstuff that most of us have to manage. Earning more money means that there are more responsibilities that we need to carry on top of our shoulders that we didn’t sign up for. How did we end up doing that? I literally have no idea. I guess that’s how life goes might as well deal with it. Or should I say deal with it but smartly.

I am not a pro on how to make millions but here are some tips that I can share in order for you to save (and grow) your hard earned money:

  1. Open an account for savings and checking in 2 separate banks – This strategy helps me a lot to completely “forget” about my savings account. Keeping it separate means that I will not be tempted to withdraw from my savings because it’s from another bank. It helps that my card is an ATM-only card meaning, I can’t use it immediately or through online. Also, it makes me think that my money in my checking acct is the only money that I have to spend. Therefore it makes me more careful with swiping.
  2. Pay yourself first before spending – Every paycheck I do allot a specific amount to deposit in my savings account. The remaining amount will be the amount that I am going to shell out with #adultingstuff. 
  3. Make a goal – Each year I make a goal on how much money I want to reach my savings. Once I reached the amount that I wanted, I reward myself with whatever I want. This way, I feel more motivated to save up because there’s a speck of light at the end of the tunnel.
  4. Don’t just save, invest as well – You know what they say, don’t work for money let the money work for you. Passive income is one way of earning more in order for you to save more. One thing that I highly recommend is investing in the stock market. If you’re from the Philippines you can invest through online using COL Financial’s website. They are basically an online stock broker who gets a small commission from the trades that you do. Also, I highly recommend signing up to Truly Rich Club. They give the best guide for you to understand and learn stocks. They also provide suggestions on which company should you invest and when is the best time for you to buy or sell your shares. If you become a member, you will be covered with Php100,000 life insurance for FREE! I’ve been investing for five years now and I must say this has been one of the greatest ways for you to grow your money passively. And no, it’s not a scam. I can attest to that.
  5. Invest in real estate – Real estate provides a good return especially if you hold it longer. It provides flexibility in terms of how you want to manage it. Say, have it rented or simply keep it until the value appreciates then sell it. It’s really up to you.
  6. Reward yourself – I am not saying to do it every now and then to the point that you’ll end up spending what you have saved. Do it when you have reached your goal or you have achieved something in your life. Make sure that you use your extra money and not the one that you saved. Rewarding yourself is a must because you will be more motivated to save your hard earned money. Also because you worked hard for it and truly deserve it.

Photo| John Ronnel Suliguin


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