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Jul 10, 2021 at 10:00 AM #299101ContributorKeymaster
by Melanie Alberto
Record your expenses
Of course, tracking your expenses should be always the first step on saving money. Since the purpose of this method is to give you enough practice on how to handle your finances. Furthermore, this will also show you the data of where the most money was spent.
The Coin Money
This method is suitable for children or any individual person who doesn’t have much of a goal when it comes to saving money. However, everyone is welcome to use this method since the difficulty of the task is not high. I decided to call it “Coin Money” because the subject of this money is easy to acquire. The only thing you will need is a glass bottle, can or any objects you can use for collecting coins.
Suggestion: The bigger your piggy bank is, the better.
Well, I bet you’re curious about this method and what is the reason behind it. Honestly, I saw this method on Facebook and Tiktok when I was scrolling the other day. What I can say is that whoever thought of this method is a creative person. It makes saving money a fun thing to do. The requirement for this method is easy to acquire since it is only an ample amount of small envelopes for your cash and a marker.
With the use of a marker, you’re going to write number 1-100 on the surface of the envelope and store it in a folder. Every day you will pick one envelope and based on the number written in the envelope is the amount of money you will put on it. You just need to do it a couple of times until all the envelopes are finished.
This method of saving money is suitable for a person who earns money every day but then, everyone is welcome to use this method. Well, it is called exclusive because you’re just going to pick one (any amount of money) to start saving money.
For example, the money you will save is solely 20 pesos. This means all 20 pesos will be saved and the rest of the money will be spent. It’s simple, right? But yeah, I suggest this method if you’re not in a rush and don’t have much reason to save money like buying things. After all, this method is a slow way to earn a huge amount of money.
Can you save your money and spend the rest of what’s left? You will budget everything and strictly follow the track for your expenses. I don’t really suggest this method since budgeting is very hard to do. Basically, it really needs strong determination and will.
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