I really, really want to answer this question confidently, but the truth is, I can’t. Within the three years that I’ve been working professionally, I don’t recall a time when I actually set aside a portion of my salary and kept it as part of my “savings” (mind the quotation marks). But I don’t think that’s totally true. Maybe I had set aside some money but I have no doubt that just a few days after that the money still found a way to convince me to release it to the wild. It’s as though it didn’t want to stay confined inside the walls of the bank but rather it longed to join the fun in the money circulation outside — figuratively speaking.
Fine. I know the problem is with me and not the money per se!
Two years ago when I was in my first job, I had this colleague who was a few years older than me. She told me to relax and not let myself get worked up too much about saving money yet. “You only just started working, enjoy the fruits of your labor first. Worry about setting aside a portion of your salary when you’re already in your second year of employment.” It made a lot of sense at that time and I did heed her advice (although I didn’t get anything much out of that, I was only receiving a meager pay!). And now guess what? It’s my third year, but the moolah is still vanishing faster than Harry Potter can say “Expecto Patronum!”
It’s true what adults (And by “adults” I mean those who are older than me) say: As your salary increases, so does your expense. It’s like there’s a universal rule for that kind of thing. The only person I know who’s disciplined when it comes to her finances is my friend Anna Grace. She strictly tracks her earnings and expenses — from the pair of Havaianas she buys down to her bus fare, she’s got them all listed down in this little notebook of hers so she knows exactly where her money is going. And she’s consistently saving a percentage of her salary too. She’s really awesome. Oh when will I be able to adopt her ways? lol.
If I have to take into account all of my expenses I am just gonna get a big fat headache. So no, I’m not gonna do that. Besides, my personality is not fit to do something like that. It’s a good thing I haven’t got an OCD! Or at least I don’t when it comes to that kind of stuff — alongside keeping my room tidy and my office desk organized. :D
It’s a bit of a surprise too because the money I receive from work is not really spent on stuff for myself. I only buy a book or two occasionally (Fine — Twice or thrice a month!), I rarely shop for clothes, shoes, bags, or whatnot (honest!), I don’t have expensive obsessions or hobbies (Internet connection doesn’t count)… You would think that with that kind of mentality I should be able to save a certain percentage of my salary but no. Most of my pay goes to my parents. I don’t want to sound like I’m bragging or what but that’s the truth. Sometimes I resent the fact that I have to give (Ma, Pa, am I not the youngest in the family??) but most of the time it does feel good to be able to give, especially to my own flesh and blood. Besides, they really have no one else to count on. My older brothers are already somewhat planning on settling down with their girlfriends. Oh the horror!
So what are ways that we can save? Does NOT having a credit card help? Definitely. I think that if I had one I would be tempted in more ways that I can imagine (thank you, credit card companies, for not approving my applications!) What about those discount / privilege cards like the SM Advantage, what do they really do? I have one but I honestly don’t know what the benefits are or how exactly I can get them. And how about this MySavings thing online? Their Web site says that you can get free samples and printable coupons and enjoy free product samples of health and beauty products, food, make up, cosmetics, perfume, baby products, and diet pills. It sounds great but I think that’s only for selected countries.
Good thing there are ways to earn some moolah from the Internet. If you have just started blogging, don’t stop. You can actually earn from your blog when the time comes. Then you can probably choose to set that aside for your savings. :)
But I think the most effective way of saving money is giving. Yep, it sounds ironic but I swear it works. Helping others (who deserve it!) is a very good “investment”, and of course there’s giving back to God.
If you give, you will receive. Your gift will return to you in full measure, pressed down, shaken together to make room for more, and running over. Whatever measure you use in giving–large or small–it will be used to measure what is given back to you. (source)
So how much do I save from the salary I receive at work? The answer is none. They go to my parents and my expenses, but I don’t mind. Whatever happens to me and my family, I acknowledge God and I trust Him to do the provision. If only my Mom and Dad would stop worrying…
But of course, I will still do my best to spare a portion of my salary so I can have something to dump into my so-called savings account every month. Hah! Good luck with that!
How about you? How much do you save every pay day?
Related Posts: Liz’s Yuppie Lifestyle, Tina’s Let Talk About Money, Jireh’s Saving for Rainy Days
if you’ll ask me this question, i think i can’t answer you. how can i answer you if i don’t even experience any pay day and how’s the feeling as you receive your salary….
Am a breadwinner. So yeah, saving is giving. New definition, I like it! I sooo can relate. I track down my earnings too but stops 3-5 days before the next payday came, hehe kasi wala na kong ittrackdown: balance=0. Gad, utang kay boyfriend.
From my past work, I usually save around 20%…10% for this financial freedom thing and 10% for long term investments (like that Sydney thing I’m planning). But since I resigned, things are a bit tight since I’m not paid yet, and I have to take care of some expenses here at home since my mom left for Saipan. So now, I’m back to zero. :P
Jomar taught me this really cool way of dividing your money so every time you get some (be it salary, or even a gift from a relative), you still have savings. Since you made this post,I’ll be making a post about that just to complement it. :P
But it’s true…Ang hirap kumita ng pera! Hahaha minsan magugulat ka nalang, wala na! Hahaha. Ohwell.
one word: none. eeeehh… same reason as you, family, sometimes “nakakasakal” din not being able to buy your wants, but at the end of the day, why are you working anyway diba? :)
I used to be able to save 10% or more of my salary when I started working. Now I can’t even save a hundred bucks. :(
hai…parents…just cant take them for granted gid. hehe. akn naman ya savings ko, 1taw plus. pisusun sa alkansia ko. hihihihi. tani ginkuha ta na lang ang aton na bayad sa kay lola angie no?muahah!
SELaplana: Okay, it doesn’t really have to be an actual pay day. You can think about those times a client of yours paid you or those times you received an adsense check or something. :cute:
LIZ: Korek, haha. Sakin din malapit na maubos. I tried to save some, but it seems na kelangan ko na naman silang gamitin. Haay. :up:
TINA: Great post! Buti ka pa maraming sensible tips! hehehe! Hmm. Dapat saken magtrabaho abroad. lol.
MAE: Apir. hehe. Hey that makes sense! We’re working for them (and well, yeah, ourselves too :confused: ) anyway so what are we grumbling about? The important thing is, may pambili pa tayo ng fishbol. haha :D
ADE: Aww, sayang. I want to start saving at least 10% of my salary too. :(
JENMAI: hahahaha! wala pulos ang lola angie mu!
I save, but the rainy day comes constantly. Hehehe. I track all of my expenses, too. I get OC for about a day or two when I can’t remember where an unaccounted for 50 or so pesos went to. :p
it’s only now that i can save….i thought that working at home could finally free me from the many things that can make a huge dent on my expenses…the more i am home..more expenses…higher budget for groceries and shopping! haha…for the past 3 months i’ve been “employed”…i could have saved a month’s worth of salary but but no..it’s mid year and red SALE signs are everywhere…plus there’s the pasukan..the birthdays..etc….gosh..i think im gonna blog about this na lang nga..haha… but i swear..no more shopping next month :)
Joni – maybe it’s just the plain true that you’re not being compensaed enough? have you checked the free salary calculator from the SalaryBase (Salarybase.com?
– shelly
hi joni! :) im back! hehe :) bag-o lng tapos payroll, mejo tawhay na ko.. MEJO lang… :) i used to allocate atleast 10-20% of my salary for my savings, but when i went home last january, all my savings vanished in thin air.. my bad :( hehehe… now, back to scratch naman ko, im paying myself atleast 20% every payday… need to save for emergency cases :) i seldom give kay mom & lola, kung maka extra lang, but im always make sure na may ma set aside gd ko for my savings and for my future :) and investing also, kaysa standby lng ang money sa bank gamay lng interest :) its better to invest :)
EUGENE: Haha! OC ka nga! I’m never like that, and it worries me. :blank:
REAH: Mother, iba na yan. Shopaholic ka kase. hihi! ok lang yan, enjoy muna, lapit ka na ikasal. :P
SHELLY: Good point. :D
JIREH: Good for you! Mayo ka pa you don’t have to give. If I don’t, my parents will go hungry, haha. But I will try the 10-20% allocation next pay day! Oh wait. I’m supposed to pay the rent next pay day.. hmm, scratch that. :up:
I tried to do that but for some reason it escapes me, siguro kasi nahihiya ako to accoutn what I spent for with people in front of me ayuuun heheh pero this is what I can say, 80% of my personal money goes to… food! Gad, no doubt I’m this… “healthy” haha :P
WOW haha thanks for reminding ha. Good luck sa savings. PFFT.
MORE RAKETS, MORE RAKETS!!!
In fairness, girl, bilib ako sayo for being the breadwinner. Budgeting for myself is waaay too hard already, how much more if I was budgeting for a whole family. Haynaku. Winner ka. :)
MAE: Hahaha! Korek. Food pa pala. Malakas din kse kumain parents ko. lol.
RIZ: Who says anything about me knowing how to budget for the whole family? hihi! Di nga ko marunong eh. :cute: Korak, more rakets!!
im back again :) if bug-at gid ang 10-20% jons, try lang start with 5% lang anay asta na makahalog2 ka kag dugang dugangan mo :) i seldom give lang kung emergency lang.. kay may business pa man sila ni moms, teh si lola man lang kis-a gapangayo.. hehe :) d pa man sila magutman if d ko maghatag ;) pero gabawi lng ko sa gifts everytime may ara friends na ga visit d or manugpuli sa bacolod and during special occassions.. actually jons im super duper gastadera! hahaha :) dats y atm ko for my savings ara sa barkada ko sa bacolod, CPA sya so gin hire ko sya for FREE hahaha :) to be my financial adviser… need to save a lot this year gid yah, may scholar ko daan next year, adopted sis ko, cousin ko na ara sa haus namon, daw adopted na… :) since you love reading, i suggest u grab a copy of Francisco Colayco’s book, book1 guro mas better, wala ko pa nabasa book 2 lang.. mas nami I think ang book 1 :) tc jonz! :) mablog na gd ko sbng… hahaha :)
It’s hard to save specially when you have 4 sibling who constantly make lambing about this and that hehe… No complains though. I will start saving by next year when, hopefully, everything is already stable.
Hopped from Tina’s…
JIREH: Hehe, thanks sa trackback, girl. I hope you achieve your goal! ;)
SASHA: Haha, mahirap yan, 4 siblings. :) Ok lang, mabaet ka nmn na Ate i’m sure. :)
ahay di lumitaw unang comment ko…
nwei, i aim to save 20% of my pre-tax income…ngayon ko lang siya nagagawa sa 3rd job ko kasi pathetic yung sweldo ko before. kaya lumalayo ako sa mga bookstores this past year kundi sira budget ko. i also do that spending tracking thng sa excel, nakakatakot ang amount na nagagastos ko sa food. and i believe in tithing, it works.
ngayong nagretire na pareho parents ko, got to rejuggle my budget kasi ako na inaasahan for some of the bills. wow responsibility..hehe.
hoping to invest my savings, naiinis ako sa 1% per annum ng mga banks e. may mentor pala ako for financial management…ivcf grad gusto mo paconsult? sabay tayo!
bwahaha! How much do I save?! argh. Ask Him, God knows. Haha. :P And yeah, you’re right. the most effective way is giving. Everytime I get my salary, I always think about where I’d treat my nephews the weekend after, what I’d buy for the house and the tons of bills I’d have to pay! haha. But really, I don’t mind. Kita mo nga, wala rin akong paki kung everyday ako nagtataxi. Hay…kailan kaya ako makakasave up! Grr. The more I love, the more I get BROKE. yun yun eh! haha.
Ive never got the hang of saving anything! wahahah. used to be very good at the thing back in school tho
Joni this theme is delicious! Make me one? waheheh
TARITS: Wow, consultancy? Katakot nmn un, haha. jowk.
SARJ: Haha, buti nlng God knows! I don’t even know it. lol.
JEFF: Delicious?? haha! Di ko alam na kumakain ka pala ng puno..jowk! Ano gusto mo? :P
hehe, extra challenge siya…he helped me set my financial goals and priorities. parang wake up call na rin.
alam ko na bakit di lumitaw 1st comment ko…baket ba naman math ang spam protection mo? bakeeeeet?!!!! *nose bleed*
When I was still single, I would really want to save but my salary wasn’t that big enough to “save and spend”, so what I did was to buy things that I know someday would remember of what I’ve earned like appliances and ’til now that I’m already married and a mom too, I can still use the things I’ve bought years ago. It was a practical decision.
When I started working my pay was onlyP700 but I was the eldest in the family of 7. I never thought about saving. The first thought I had was how to contribute to the family. Savings was not that important to me, its how I can help my parents in their economic burden.
So without savings, I was able to send a brother and a sister to finish university,pay for the monthly electric and water bills.
After my sister and brother graduated, I now embarked on a bigger scale of investment,,,that is buidling my own house. Without savings you wont believe it I was able to build my own house when I was still single
I save 100% of my paycheck every two weeks plus I max out my Roth IRA and 401K. Its nice to live off my wifes paycheck.
its easy for me to save money… but a lil hard to stop myself from spending it… ^_^
well ako konting lang na-si-save ko eh.. dami kasi ng gastos