How to save

SAVING TIPS

Liezel Ocomen

A person who wants to save money can take the cue from Benjamin Franklin who said,  “A penny saved is a penny earned.”               

Money is essential to people’s lives because provided material things that a person wants and needs. But a lot of people encounter problems when it comes to money that is why they suffer from poverty and cannot educate themselves.

Some have problems because they cannot resist spending on useless things. They do not think of the best results of saving money. Some want their parents to provide their needs even if they are already adults. They anticipate everything from them. And some do not know how to save it properly.

For those who really want to save their money but are having hardtime doing it, try to imitate some of my simple techniques.

First thing I do is list down all the things that I want and need to buy.

For example, I need food for boarding house, school, fare and other things like dresses or, shoes and others. When I have money and I already used it and there is something left in that money, I divide it into four; the food, fare, hand-outs and other things.

I keep these separately to avoid these being mixed. You can also try to just divide your money into two. For example, if my money is 500 pesos. I divide it and I just get the 250 pesos to spend and the other 250 pesos, I leave in our house.

I put it in a wallet or in a little box and keep it under my clothes and lock it.

If there is something left again in that 250, I divide it also into four. But if I cannot do that, oftentimes I do not touch my money. In other words, I really do not spend my money for that day. I just eat when I am already in the house.

But of course, I do not teach you to do that because you might be like me who has ulcerfor not eating adequately.

Just try what I have stated first in saving money or you can also try what I am doing. Sometimes also, I think of the food that I will buy tomorrow that costs cheaper. I buy cheaper commodities for food that costs less. That means I saved some money.

In other words, I prioritize first that I think is the most important before the others. – (Liezel Ocomen is a student of University of the Cordilleras taking up Bachelor of Arts in Communication)