Take the Saving System to your Shopping System

Like SAVINGS like SHOPPING.

We set aside savings because we want somehow to lessen our worries for the future. Our kid's education, our parent's health, and our retirement are just some things we are preparing for. These are what we consider important and necessities.

Likewise, we can have the same mindset in our shopping fund. I think most of us will agree that we deserve some rewards from time to time. A little rest. A little indulgent. A little gift for ourselves is like a tap on our back - for all the best effort we give for our families and work. Thus, like savings, setting aside a certain amount of money for shopping is also important - especially if we do not want to be in debt.

On this post, I want to share one main principle in savings that I also apply with my shopping fund - DISCIPLINE

As I discipline myself to set aside X amount for my savings, I also set aside Y amount for my shopping fund. (This is also same with the envelope system of financial gurus - though I only emphasized on the shopping fund.)

But DO NOT allow your Y amount exceed 50% of your X amount. For an example, if you are saving P5000 (X) per month, your shopping fund allocation should not be greater than P2500 (Y).

With this, you are both giving yourself a BUDGET and a LIMIT for shopping. BUDGET for you not to deprive yourself. A LIMIT for you not to be in debt.

If you are not good in self-control like me, I suggest you open a SEPARATE bank account for your shopping fund. So whenever you shop, you would only look at your shopping fund as your available money.

Zero balance means no shopping for us. But if you have save enough, you can ENJOY shopping without worrying about your savings.:)

P.S. Don't feel guilty when you have spent half or nearly full of your shopping fund (just like me), because in the first place, you have set up this fund to spend and to reward yourself. I will share to you more on how you can maximize this fund - buying more at a lesser cost.

Till my next post.... ;)

DON’T JUST SAVE.

I HAD IT. Articles, magazines, radios, and seminars talks about the same thing. SAVE. Throw away your credit cards. Think first about what you will buy – if it’s a need or a want, and always keep in mind your financial freedom.

But how can we call it freedom when we are so constraint in buying what we want? Until when should one struggle with saving and not buying? If our lifespan is unknown to us, how can we be sure if what we have is more than enough?

Don’t get me wrong here. I am not rejecting what all honorable financial advisors are teaching. As the matter of fact, I totally AGREE with them. But I just like to share one more thing, on top of what they are saying…

YOU CAN STILL ENJOY SHOPPING WHILE SAVING.

Yes! You heard me right! You can still buy those trendy shoes, fashionable clothes, branded bags without compromising your savings. You can even treat your friends out in a fancy restaurant. You can even get your massage for FREE! How cOoL is that? :D

God did not just call us to save for the future. He desires us to live an abundant life here on earth. He also wants us to enjoy life just as He had created it GOOD. He has called us to be a GOOD STEWARD of everything He had given to us.

This is the primarily reason why I am starting this blog. To share my learnings in life in relation with finances. (Take note! This is just a sharing. So feel free to comment).

To start, here’s a few of my so-called “rules” or “principles” or “tips” – whatever you may want to call it.

1)      Take the SAVING SYSTEM to your SHOPPING SYSTEM.

2)      You can EARN from CREDIT CARD.

3)      MORE SAVINGS from CREDIT CARD.

4)      DELAY-SHOPPING is WORTH the wait.

5)      EARLY-SHOPPING is better than ON TIME.

6)      STUDYING can help you get a GREAT DEAL.

7)      MORE Discount MORE Shopping Money!

I will be discussing it in detail on my succeeding post. So stay tuned. :D