Saving

It’s almost one year since my mother retired from her job as an Education Supervisor. At first, it was hard for her for not receiving monthly salary. Especially those first four months after retirement when she was not able to get her pension from GSIS. (If you are working in the government office, I bet you know how GSIS process papers). Good thing she and my father invested a farm lot which supports their financial needs.

My mother would always remind us about the importance of saving money and investing. Coz we do not know what may come ahead. A saving of 1,000 peso per month is already 120,000 after 10 years. It’s just a matter of discipline.

To assure that you save at least 10% of what you have earned here’s a very simple formula: Salary – Savings = Expenses. Always keep in mind that what you earned is your salary least the savings. Do not overspend. Live with your means.

I know it can be tempting to withdraw what you have saved in the bank. Especially when you saw nice items that is on sale. And you will just make a promise that by the following month you’ll double the savings. I believe you will end up promising yourself every month to double it and after ten years you’ll be surprise you haven’t save the target amount. That’s why I suggest you put it in a time deposit account or if you invest it in a life insurance company. And much better if you do both, save some amount in the bank and some for the insurance company. This could be hard especially to those who doesn’t value saving. Just think this benefits you and your family!


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