Carousel

Sponsored Links

Looking for House and Lot Within Tagaytay Area? CONTACT US!

Name

Email *

Message *

Showing posts with label savings and investment. Show all posts
Showing posts with label savings and investment. Show all posts

Friday, September 21, 2018

10 Spending Habits You Need to Stop to Save Money



For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. 

If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement.
Ads

You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save!
Sponsored Links


1. Splurging to Keep Your Yolo Lifestyle

This is very common among millennials or even adults nowadays.

Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. 
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
Read: 7 Tips for OFWs to Save Money When Transferring Funds Overseas

 Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two.
Ads


2. Impulse Buying as Stress Relievers

There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending.
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all.

Read: 10 Simple Tips for OFWs to Save Money From Monthly Salary

To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money!

3. Borrowing Money for the Wrong Reasons

Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest.
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward.

Read: 5 Money Saving Tips For OFWs For Christmas Season

4. Spending to Impress Others

Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. 

 Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth.
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
5. Failing to Track Your Expenses

In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on.

Read: 4 Effective Financial Tips for OFWs

If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on.
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
6. Spending First Before Savings

Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses.

It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck.
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
7. Paying for Convenience All the Time

Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you.
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia.

8. Not Paying Your Credit Card Debt

If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary.
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
9. Never Saying No

Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend.
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
10. Spending Too Much on Vices

If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. 

Aside from this, you can also cut your addition on too much coffee or soft drinks or gambling.
For many of us, saving money is one of the hardest thing to do, especially nowadays that prices of almost all goods and services are increasing. In spite of this, we need to save. Because there are many reasons to do so. Saving money should start, a moment you are earning, regardless of your age or marital status. If you haven't saved for a long time despite the fact that you are working for a decade, you should start saving now. Your savings can turn into investment someday. You can also use the money as a capital for business, a preparation for the future needs of your family or for your retirement. You may ask, what should I do to save? There are many things you can do to save money. But first, evaluate your lifestyle and break some spending habit that you do not need in the very first place. The following are 10 spending habit that we need to break to save! 1. Splurging to Keep Your Yolo Lifestyle This is very common among millennials or even adults nowadays. Living and enjoying the moment because you only live once. Spending money on travel, shopping, dining, gym membership, gadgets among others are now the way of life for many. Indeed YOLO is good for a person's overall well-being. But enjoying life for a short moment then suffering for sleepless nights for a month or two worrying about money or on how to pay your debt is not healthy at all. Yes, you only live once and life is meant to be enjoyed, but it should not make you broke or in debts. Instead, "you should enjoy the moment but prepare for retirement". "Bahala Na si Batman" should not be our "mantra". Spend below your means and not within your means. Nothing is left for savings if you spend within your means. If your hobbies like traveling can hurt your savings, do it seldom or once in a year or two. 2. Impulse Buying as Stress Relievers There are many who's guilty of this. When stressed or bored or feeling down, the next option is going to the mall and spend mindlessly on things that we don't actually need. Shopping, eating, binge drinking etc. The result is overspending. It is never wrong to treat yourself for the things that you love since you are working hard for your money. But using this as an excuse to spend more is not a good idea at all. To stop, put a limit to each of your expenses whether it is a need or wants. Also, there are many things to do when you are stressed, bored or feeling down aside from spending money! 3. Borrowing Money for the Wrong Reasons Applying for a loan to support your lavish lifestyle? Getting a loan to fund your travel or for buying a new smartphone or any other short-term needs is a bad idea. Remember, the loan comes with interest that you need to pay. Make sure your monthly income can compensate the payment needed plus the interest. If it is for the right reason, taking a loan or borrowing money is not bad at all. For example, you need money for long-term investment or for a capital to start a small business where you can earn in return. If your borrowing money for dead investment, make sure it is worth it and it won't kill your budget afterward. 4. Spending to Impress Others Social media is now part of people's lives. We love to share our vacation photos, new things we bought, the places we visit or restaurant we dine and so son. We love to have many "likes" on beautiful images we upload in social media that sometimes we are spending much on our social media image. Trying to impress people or "Keeping up with the Joneses" to maintain our good and successful image in social media is costly. If you want to save, you should stop this habit and focus on your personal growth. 5. Failing to Track Your Expenses In saving money, budgeting is one of the keys. One way to do this is to track your expenses so that you will know where did your money go. Make a list when going to grocery stores to avoid over expenses. Set aside a budget for utility bills and other expenses in the house and so on. If you have a record of your expenses you can evaluate your spending in a month. You can carefully study what are the needs and wants and adjust your spending for the next month for possible additional savings. You can review your expenses and see which ones you can cut back on. 6. Spending First Before Savings Every one of us has a different formula for saving money but the question is, it is effective? If you don't have savings up to now then you need to try the "Pay Yourself First" formula. It means when you received your salary, the first thing to do is set aside the fixed amount as a saving before spending. So the formula should be Income - Savings = Expenses. It is very common for us to save what is left with our money. But if we practice this, nothing will be left for savings in the end especially if we are living paycheck to paycheck. 7. Paying for Convenience All the Time Often times we pay the price of convenience much more the price of the product or services we get. Eating lunch every day in the fast food instead of cooking and bringing "baon" for lunch will cost you much. Riding a taxi to work regularly instead of a jeep or bus will make you spend more than what is intended. Aside from the actual services and product, you are paying for the convenience of the situation being given to you. Look for another way instead so that you can save. List down a weekly menu, cook and bring food in your workplace instead of buying in the nearest fast food or carenderia. 8. Not Paying Your Credit Card Debt If you are using a credit card, make sure to pay on time all your dues. Unpaid dues will accumulate interest. Not just your credit card but all your debt or loans. Avoid debt if it is not necessary. 9. Never Saying No Your money will slip through your fingers easily if you don't know how to say no in all the invitation or favors being asked to you. Even if you are earning big, learn on how to say No to unwanted expenses to give way for your savings. Also, say no to each temptation to overspend. 10. Spending Too Much on Vices If you want to save, consider cutting your vices. Prices of sin products such as cigarettes and liquor are not cheap. Imagine how much you can save in month from consuming a pack of cigarettes a day. Not just this, this vices can harm your health in a long way that can also hurt your finances. Aside from this, you can also cut your addition on too much coffee or gambling.
This article is filed under savings and investment, financial plan, finances, savings account, tips for savings, savings and expenses and credit cars.

 ©2018 THOUGHTSKOTO
Tags , , , , , ,

Saturday, August 18, 2018

How to Live a Worry-Free Life while Working Abroad



Worrying is a part of the life of many Overseas Filipino Workers (OFWs) while working far away from their families. Being miles away from the people you love is not easy especially if you are a father or a mother to young children. Aside from missing home, worrying is one thing that keeps OFW awake every night thinking about the situation of their loved ones back home.

 It is normal to be worried especially you are far away from your family, but it is also important to do some things so that you can live a worry-free life while working abroad.
Worrying is a part of the life of many Overseas Filipino Workers (OFWs) while working far away from their families. Being miles away from the people you love is not easy especially if you are a father or a mother to young children. Aside from missing home, worrying is one thing that keeps OFW awake every night thinking about the situation of their loved ones back home. It is normal to be worried especially you are far away from your family, but it is also important to do some things so that you can live a worry-free life while working abroad. 1. OFWs are often worried about getting sick and not having enough savings for a medical emergency. As an OFW we are worried that we might get sick while working abroad. Being sick far away from the family is one of the worst feelings in the world because no one will take good care of you. Aside from this, getting sick or being ill will affect the people that depend on you back home. Avoid sickness while working abroad by eating healthy, take vitamins and get exercise or any physical activity. Get yourself checked by a doctor once in a while as important steps to lessen your worry about getting sick. Getting health insurance will also help you prepare for unforeseen medical expenses. Getting these things will help you focus on getting better while working without worrying about your health. 2. As an OFW, you should be motivated to live with a healthy lifestyle What is the main reason why you are working abroad? Is it your family? Is it your goal to have a house or a small business for your parents? As an OFW, there are many things we want to achieve while working abroad. But we cannot do all these things if we are not healthy. Practicing a healthy lifestyle is a big help in attaining our goal. Make a specific goal for your healthy lifestyle. For example, you want to have a target weight. Focus on it and have a better diet. Always remember that healthy lifestyle reduced many diseases, such as heart disease, high blood pressure, diabetes, and stress among others. 3. Maintain a long-distance relationship! One of OFW's greatest challenge is how to maintain a healthy and happy long-distance relationship, whether you are a parent, a child, or a sibling. But with the use of technology nowadays, maintaining long-distance relationships is not that hard. As a family, you can set up a group chat or video calls on the agreed schedule. With this, you will not miss some important occasions back home even just on the screen of your phone. If you are a parent OFW, talk to your children regularly and be involved in their lives even you are far away. Constant communication with your children will play a very important role while they are growing up. Talk to them and explain to them why you are working abroad. Staying connected with your family is comforting and uplifting even your are far and physically apart. 4. Save! One out of 10 OFWs is financially broke and eight out of 10 OFWs returned to the Philippines without savings. While earning big, it is important for OFWs to know how to save for their own retirement or for medical emergencies at home. With enough savings, you can start a small business for your family to have extra income. You can also invest your hard-earned savings into something that will return the investment after a few years. In saving money, you should not send all your salary to your family back home. Practice the popular phrase "Pay Yourself First" which means you have to save something for yourself first from each paycheck at the time you received your salary before spending it. With enough savings, you won't worry about what to do in the Philippines if you are no longer capable of working abroad. 5. Prepare for Your Retirement We always say this, working abroad is not forever. That is why it is important to think and prepare for your retirement even if you are just started working abroad at the age of early 20s. OFW life does not guarantee that still, you will be able to work after 10 or 20 years from now. Nowadays, there are many OFWs still working in spite of retirement age due to lack of savings or lack of retirement fund. Prepare for your retirement by building a retirement fund if possible. If your retirement plan is at hand, you can retire earlier than expected and do the things you love for the rest of your lives.
Advertisement

1. OFWs are often worried about getting sick and not having enough savings for a medical emergency.

As an OFW we are worried that we might get sick while working abroad. Being sick far away from the family is one of the worst feelings in the world because no one will take good care of you. Aside from this, getting sick or being ill will affect the people that depend on you back home.

 Read: 6 Survival Guides for OFWs

 Avoid sickness while working abroad by eating healthy, take vitamins and get exercise or any physical activity. Get yourself checked by a doctor once in a while as important steps to lessen your worry about getting sick.

 Read: 10 Tips For OFWs to Become Successful

 Getting health insurance will also help you prepare for unforeseen medical expenses. Getting these things will help you focus on getting better while working without worrying about your health.
Worrying is a part of the life of many Overseas Filipino Workers (OFWs) while working far away from their families. Being miles away from the people you love is not easy especially if you are a father or a mother to young children. Aside from missing home, worrying is one thing that keeps OFW awake every night thinking about the situation of their loved ones back home. It is normal to be worried especially you are far away from your family, but it is also important to do some things so that you can live a worry-free life while working abroad. 1. OFWs are often worried about getting sick and not having enough savings for a medical emergency. As an OFW we are worried that we might get sick while working abroad. Being sick far away from the family is one of the worst feelings in the world because no one will take good care of you. Aside from this, getting sick or being ill will affect the people that depend on you back home. Avoid sickness while working abroad by eating healthy, take vitamins and get exercise or any physical activity. Get yourself checked by a doctor once in a while as important steps to lessen your worry about getting sick. Getting health insurance will also help you prepare for unforeseen medical expenses. Getting these things will help you focus on getting better while working without worrying about your health. 2. As an OFW, you should be motivated to live with a healthy lifestyle What is the main reason why you are working abroad? Is it your family? Is it your goal to have a house or a small business for your parents? As an OFW, there are many things we want to achieve while working abroad. But we cannot do all these things if we are not healthy. Practicing a healthy lifestyle is a big help in attaining our goal. Make a specific goal for your healthy lifestyle. For example, you want to have a target weight. Focus on it and have a better diet. Always remember that healthy lifestyle reduced many diseases, such as heart disease, high blood pressure, diabetes, and stress among others. 3. Maintain a long-distance relationship! One of OFW's greatest challenge is how to maintain a healthy and happy long-distance relationship, whether you are a parent, a child, or a sibling. But with the use of technology nowadays, maintaining long-distance relationships is not that hard. As a family, you can set up a group chat or video calls on the agreed schedule. With this, you will not miss some important occasions back home even just on the screen of your phone. If you are a parent OFW, talk to your children regularly and be involved in their lives even you are far away. Constant communication with your children will play a very important role while they are growing up. Talk to them and explain to them why you are working abroad. Staying connected with your family is comforting and uplifting even your are far and physically apart. 4. Save! One out of 10 OFWs is financially broke and eight out of 10 OFWs returned to the Philippines without savings. While earning big, it is important for OFWs to know how to save for their own retirement or for medical emergencies at home. With enough savings, you can start a small business for your family to have extra income. You can also invest your hard-earned savings into something that will return the investment after a few years. In saving money, you should not send all your salary to your family back home. Practice the popular phrase "Pay Yourself First" which means you have to save something for yourself first from each paycheck at the time you received your salary before spending it. With enough savings, you won't worry about what to do in the Philippines if you are no longer capable of working abroad. 5. Prepare for Your Retirement We always say this, working abroad is not forever. That is why it is important to think and prepare for your retirement even if you are just started working abroad at the age of early 20s. OFW life does not guarantee that still, you will be able to work after 10 or 20 years from now. Nowadays, there are many OFWs still working in spite of retirement age due to lack of savings or lack of retirement fund. Prepare for your retirement by building a retirement fund if possible. If your retirement plan is at hand, you can retire earlier than expected and do the things you love for the rest of your lives.

Ads

2. As an OFW, you should be motivated to live with a healthy lifestyle

What is the main reason why you are working abroad? Is it your family? Is it your goal to have a house or a small business for your parents? As an OFW, there are many things we want to achieve while working abroad. But we cannot do all these things if we are not healthy. Practicing a healthy lifestyle is a big help in attaining our goal.

 Read: Working Abroad? You Can Be A Happy and Healthy OFW With These 7 Tips

 Make a specific goal for your healthy lifestyle. For example, you want to have a target weight. Focus on it and have a better diet. Always remember that healthy lifestyle reduced many diseases, such as heart disease, high blood pressure, diabetes, and stress among others. 
Worrying is a part of the life of many Overseas Filipino Workers (OFWs) while working far away from their families. Being miles away from the people you love is not easy especially if you are a father or a mother to young children. Aside from missing home, worrying is one thing that keeps OFW awake every night thinking about the situation of their loved ones back home. It is normal to be worried especially you are far away from your family, but it is also important to do some things so that you can live a worry-free life while working abroad. 1. OFWs are often worried about getting sick and not having enough savings for a medical emergency. As an OFW we are worried that we might get sick while working abroad. Being sick far away from the family is one of the worst feelings in the world because no one will take good care of you. Aside from this, getting sick or being ill will affect the people that depend on you back home. Avoid sickness while working abroad by eating healthy, take vitamins and get exercise or any physical activity. Get yourself checked by a doctor once in a while as important steps to lessen your worry about getting sick. Getting health insurance will also help you prepare for unforeseen medical expenses. Getting these things will help you focus on getting better while working without worrying about your health. 2. As an OFW, you should be motivated to live with a healthy lifestyle What is the main reason why you are working abroad? Is it your family? Is it your goal to have a house or a small business for your parents? As an OFW, there are many things we want to achieve while working abroad. But we cannot do all these things if we are not healthy. Practicing a healthy lifestyle is a big help in attaining our goal. Make a specific goal for your healthy lifestyle. For example, you want to have a target weight. Focus on it and have a better diet. Always remember that healthy lifestyle reduced many diseases, such as heart disease, high blood pressure, diabetes, and stress among others. 3. Maintain a long-distance relationship! One of OFW's greatest challenge is how to maintain a healthy and happy long-distance relationship, whether you are a parent, a child, or a sibling. But with the use of technology nowadays, maintaining long-distance relationships is not that hard. As a family, you can set up a group chat or video calls on the agreed schedule. With this, you will not miss some important occasions back home even just on the screen of your phone. If you are a parent OFW, talk to your children regularly and be involved in their lives even you are far away. Constant communication with your children will play a very important role while they are growing up. Talk to them and explain to them why you are working abroad. Staying connected with your family is comforting and uplifting even your are far and physically apart. 4. Save! One out of 10 OFWs is financially broke and eight out of 10 OFWs returned to the Philippines without savings. While earning big, it is important for OFWs to know how to save for their own retirement or for medical emergencies at home. With enough savings, you can start a small business for your family to have extra income. You can also invest your hard-earned savings into something that will return the investment after a few years. In saving money, you should not send all your salary to your family back home. Practice the popular phrase "Pay Yourself First" which means you have to save something for yourself first from each paycheck at the time you received your salary before spending it. With enough savings, you won't worry about what to do in the Philippines if you are no longer capable of working abroad. 5. Prepare for Your Retirement We always say this, working abroad is not forever. That is why it is important to think and prepare for your retirement even if you are just started working abroad at the age of early 20s. OFW life does not guarantee that still, you will be able to work after 10 or 20 years from now. Nowadays, there are many OFWs still working in spite of retirement age due to lack of savings or lack of retirement fund. Prepare for your retirement by building a retirement fund if possible. If your retirement plan is at hand, you can retire earlier than expected and do the things you love for the rest of your lives.

Ads


3. Maintain a long-distance relationship!

One of OFW's greatest challenge is how to maintain a healthy and happy long-distance relationship, whether you are a parent, a child, or a sibling. But with the use of technology nowadays, maintaining long-distance relationships is not that hard. As a family, you can set up a group chat or video calls on the agreed schedule. With this, you will not miss some important occasions back home even just on the screen of your phone. 

Read: The Big Role Of Internet For Long Distance OFW Families

If you are a parent OFW, talk to your children regularly and be involved in their lives even you are far away. Constant communication with your children will play a very important role while they are growing up. Talk to them and explain to them why you are working abroad. Staying connected with your family is comforting and uplifting even your are far and physically apart.
Worrying is a part of the life of many Overseas Filipino Workers (OFWs) while working far away from their families. Being miles away from the people you love is not easy especially if you are a father or a mother to young children. Aside from missing home, worrying is one thing that keeps OFW awake every night thinking about the situation of their loved ones back home. It is normal to be worried especially you are far away from your family, but it is also important to do some things so that you can live a worry-free life while working abroad. 1. OFWs are often worried about getting sick and not having enough savings for a medical emergency. As an OFW we are worried that we might get sick while working abroad. Being sick far away from the family is one of the worst feelings in the world because no one will take good care of you. Aside from this, getting sick or being ill will affect the people that depend on you back home. Avoid sickness while working abroad by eating healthy, take vitamins and get exercise or any physical activity. Get yourself checked by a doctor once in a while as important steps to lessen your worry about getting sick. Getting health insurance will also help you prepare for unforeseen medical expenses. Getting these things will help you focus on getting better while working without worrying about your health. 2. As an OFW, you should be motivated to live with a healthy lifestyle What is the main reason why you are working abroad? Is it your family? Is it your goal to have a house or a small business for your parents? As an OFW, there are many things we want to achieve while working abroad. But we cannot do all these things if we are not healthy. Practicing a healthy lifestyle is a big help in attaining our goal. Make a specific goal for your healthy lifestyle. For example, you want to have a target weight. Focus on it and have a better diet. Always remember that healthy lifestyle reduced many diseases, such as heart disease, high blood pressure, diabetes, and stress among others. 3. Maintain a long-distance relationship! One of OFW's greatest challenge is how to maintain a healthy and happy long-distance relationship, whether you are a parent, a child, or a sibling. But with the use of technology nowadays, maintaining long-distance relationships is not that hard. As a family, you can set up a group chat or video calls on the agreed schedule. With this, you will not miss some important occasions back home even just on the screen of your phone. If you are a parent OFW, talk to your children regularly and be involved in their lives even you are far away. Constant communication with your children will play a very important role while they are growing up. Talk to them and explain to them why you are working abroad. Staying connected with your family is comforting and uplifting even your are far and physically apart. 4. Save! One out of 10 OFWs is financially broke and eight out of 10 OFWs returned to the Philippines without savings. While earning big, it is important for OFWs to know how to save for their own retirement or for medical emergencies at home. With enough savings, you can start a small business for your family to have extra income. You can also invest your hard-earned savings into something that will return the investment after a few years. In saving money, you should not send all your salary to your family back home. Practice the popular phrase "Pay Yourself First" which means you have to save something for yourself first from each paycheck at the time you received your salary before spending it. With enough savings, you won't worry about what to do in the Philippines if you are no longer capable of working abroad. 5. Prepare for Your Retirement We always say this, working abroad is not forever. That is why it is important to think and prepare for your retirement even if you are just started working abroad at the age of early 20s. OFW life does not guarantee that still, you will be able to work after 10 or 20 years from now. Nowadays, there are many OFWs still working in spite of retirement age due to lack of savings or lack of retirement fund. Prepare for your retirement by building a retirement fund if possible. If your retirement plan is at hand, you can retire earlier than expected and do the things you love for the rest of your lives.
4. Save!

One out of 10 OFWs is financially broke and eight out of 10 OFWs returned to the Philippines without savings. While earning big, it is important for OFWs to know how to save for their own retirement or for medical emergencies at home. With enough savings, you can start a small business for your family to have extra income. You can also invest your hard-earned savings into something that will return the investment after a few years. In saving money, you should not send all your salary to your family back home.

Practice the popular phrase "Pay Yourself First" which means you have to save something for yourself first from each paycheck at the time you received your salary before spending it. With enough savings, you won't worry about what to do in the Philippines if you are no longer capable of working abroad.
Worrying is a part of the life of many Overseas Filipino Workers (OFWs) while working far away from their families. Being miles away from the people you love is not easy especially if you are a father or a mother to young children. Aside from missing home, worrying is one thing that keeps OFW awake every night thinking about the situation of their loved ones back home. It is normal to be worried especially you are far away from your family, but it is also important to do some things so that you can live a worry-free life while working abroad. 1. OFWs are often worried about getting sick and not having enough savings for a medical emergency. As an OFW we are worried that we might get sick while working abroad. Being sick far away from the family is one of the worst feelings in the world because no one will take good care of you. Aside from this, getting sick or being ill will affect the people that depend on you back home. Avoid sickness while working abroad by eating healthy, take vitamins and get exercise or any physical activity. Get yourself checked by a doctor once in a while as important steps to lessen your worry about getting sick. Getting health insurance will also help you prepare for unforeseen medical expenses. Getting these things will help you focus on getting better while working without worrying about your health. 2. As an OFW, you should be motivated to live with a healthy lifestyle What is the main reason why you are working abroad? Is it your family? Is it your goal to have a house or a small business for your parents? As an OFW, there are many things we want to achieve while working abroad. But we cannot do all these things if we are not healthy. Practicing a healthy lifestyle is a big help in attaining our goal. Make a specific goal for your healthy lifestyle. For example, you want to have a target weight. Focus on it and have a better diet. Always remember that healthy lifestyle reduced many diseases, such as heart disease, high blood pressure, diabetes, and stress among others. 3. Maintain a long-distance relationship! One of OFW's greatest challenge is how to maintain a healthy and happy long-distance relationship, whether you are a parent, a child, or a sibling. But with the use of technology nowadays, maintaining long-distance relationships is not that hard. As a family, you can set up a group chat or video calls on the agreed schedule. With this, you will not miss some important occasions back home even just on the screen of your phone. If you are a parent OFW, talk to your children regularly and be involved in their lives even you are far away. Constant communication with your children will play a very important role while they are growing up. Talk to them and explain to them why you are working abroad. Staying connected with your family is comforting and uplifting even your are far and physically apart. 4. Save! One out of 10 OFWs is financially broke and eight out of 10 OFWs returned to the Philippines without savings. While earning big, it is important for OFWs to know how to save for their own retirement or for medical emergencies at home. With enough savings, you can start a small business for your family to have extra income. You can also invest your hard-earned savings into something that will return the investment after a few years. In saving money, you should not send all your salary to your family back home. Practice the popular phrase "Pay Yourself First" which means you have to save something for yourself first from each paycheck at the time you received your salary before spending it. With enough savings, you won't worry about what to do in the Philippines if you are no longer capable of working abroad. 5. Prepare for Your Retirement We always say this, working abroad is not forever. That is why it is important to think and prepare for your retirement even if you are just started working abroad at the age of early 20s. OFW life does not guarantee that still, you will be able to work after 10 or 20 years from now. Nowadays, there are many OFWs still working in spite of retirement age due to lack of savings or lack of retirement fund. Prepare for your retirement by building a retirement fund if possible. If your retirement plan is at hand, you can retire earlier than expected and do the things you love for the rest of your lives.
5. Prepare for Your Retirement

We always say this, working abroad is not forever. That is why it is important to think and prepare for your retirement even if you are just started working abroad at the age of early 20s. OFW life does not guarantee that still, you will be able to work after 10 or 20 years from now.

 Read: Survey: 8 Out of 10 OFWS Are Not Saving Their Money For Retirement

 Nowadays, there are many OFWs still working in spite of retirement age due to lack of savings or lack of retirement fund. Prepare for your retirement by building a retirement fund if possible. If your retirement plan is at hand, you can retire earlier than expected and do the things you love for the rest of your lives.
Worrying is a part of the life of many Overseas Filipino Workers (OFWs) while working far away from their families. Being miles away from the people you love is not easy especially if you are a father or a mother to young children. Aside from missing home, worrying is one thing that keeps OFW awake every night thinking about the situation of their loved ones back home. It is normal to be worried especially you are far away from your family, but it is also important to do some things so that you can live a worry-free life while working abroad. 1. OFWs are often worried about getting sick and not having enough savings for a medical emergency. As an OFW we are worried that we might get sick while working abroad. Being sick far away from the family is one of the worst feelings in the world because no one will take good care of you. Aside from this, getting sick or being ill will affect the people that depend on you back home. Avoid sickness while working abroad by eating healthy, take vitamins and get exercise or any physical activity. Get yourself checked by a doctor once in a while as important steps to lessen your worry about getting sick. Getting health insurance will also help you prepare for unforeseen medical expenses. Getting these things will help you focus on getting better while working without worrying about your health. 2. As an OFW, you should be motivated to live with a healthy lifestyle What is the main reason why you are working abroad? Is it your family? Is it your goal to have a house or a small business for your parents? As an OFW, there are many things we want to achieve while working abroad. But we cannot do all these things if we are not healthy. Practicing a healthy lifestyle is a big help in attaining our goal. Make a specific goal for your healthy lifestyle. For example, you want to have a target weight. Focus on it and have a better diet. Always remember that healthy lifestyle reduced many diseases, such as heart disease, high blood pressure, diabetes, and stress among others. 3. Maintain a long-distance relationship! One of OFW's greatest challenge is how to maintain a healthy and happy long-distance relationship, whether you are a parent, a child, or a sibling. But with the use of technology nowadays, maintaining long-distance relationships is not that hard. As a family, you can set up a group chat or video calls on the agreed schedule. With this, you will not miss some important occasions back home even just on the screen of your phone. If you are a parent OFW, talk to your children regularly and be involved in their lives even you are far away. Constant communication with your children will play a very important role while they are growing up. Talk to them and explain to them why you are working abroad. Staying connected with your family is comforting and uplifting even your are far and physically apart. 4. Save! One out of 10 OFWs is financially broke and eight out of 10 OFWs returned to the Philippines without savings. While earning big, it is important for OFWs to know how to save for their own retirement or for medical emergencies at home. With enough savings, you can start a small business for your family to have extra income. You can also invest your hard-earned savings into something that will return the investment after a few years. In saving money, you should not send all your salary to your family back home. Practice the popular phrase "Pay Yourself First" which means you have to save something for yourself first from each paycheck at the time you received your salary before spending it. With enough savings, you won't worry about what to do in the Philippines if you are no longer capable of working abroad. 5. Prepare for Your Retirement We always say this, working abroad is not forever. That is why it is important to think and prepare for your retirement even if you are just started working abroad at the age of early 20s. OFW life does not guarantee that still, you will be able to work after 10 or 20 years from now. Nowadays, there are many OFWs still working in spite of retirement age due to lack of savings or lack of retirement fund. Prepare for your retirement by building a retirement fund if possible. If your retirement plan is at hand, you can retire earlier than expected and do the things you love for the rest of your lives.
There you go mga kabayan, if you want to have a worry-free life while working abroad, just follow the above-mentioned things that might help you to focus on your work and achieving your dream!

This article is filed under savings, savings and investment, retirement plan, Filipino workers, work abroad, healthy lifestyle, and medical emergencies.

 SEE MORE:

 Read: BPI PADALA Moneyger Account: 4 Simple Steps On How to Apply
If you are the "manager" of remittances sent by an Overseas Filipino Worker (OFW), this savings account is designed just for you. With the BPI Padala Moneyger, you can effectively budget and save for your family's future. Remittances are sent directly into your account in a safe and very convenient way.
 Read: Poland, Another Destination for OFWs?; Japan to Offer Residency to Attract Foreign Workers
Due to a labor shortage, Poland is currently considering hiring Filipino workers. Right now, it is reported that Poland is forging an agreement with Philippines authorities so that Filipino workers may able to work in the said European country. According to Deputy Labor Minister Stanislaw Szwed, they are hoping to have an agreement with the Philippines by September this year.
 Read: How to Apply for OFW Savings Account in Metrobank?
Every Overseas Filipino Workers (OFWs) should save money for emergencies, retirement or for starting a new investment or small business for families to have a stable income at home. Saving money in the bank is very important to protect your money from thieves and from unwanted expenses. Aside from this, your money in the bank will grow with interest as the time goes by. We all know that working abroad is not forever and saving for the future is a must.
 Read: 8 Things OFW's Never Tell You About Their Life Abroad
Working abroad is the dream of many Filipinos in spite of the truth that OFW life is not easy. As an overseas Filipino worker (OFW) you have to embrace a life away from your family, deal with very long hours of stress, loneliness and even frustration. But because working abroad gives you big salaries that you cannot earn in the Philippines you decide to go anyway and practice what many OFWs said, "the art of sacrifice." It is very common that when we heard the word "OFW", a person with much money always comes first in our mind. Somehow, it becomes a tradition that when we meet an OFW relative or friend, we ask for "pasalubong." OFWs are also the first person we call in case of emergency and other financial related problems.

 ©2018 THOUGHTSKOTO
Tags , , , , , , , ,
Subscribe to: Posts (Atom)