How Do I Manage My Finances

It is said that there are three types of person when it comes to financial management. The First Type is the one that the moment he has the money and even the money  is not  yet in his/her  hand a long lists of items are already prepared for exchange of his / her hard earned money. The Second Type  is characterized as passionate d saver. The moment he has the money directly go to bank and even for get to pass by the market or grocery store. Here comes the Third Type, the one who save and once he has the saving he appropriate amount of Investment. This person is an enterprising. He let the money works for himself. Wow how nice! I have not been there. For many, including myself, it is scary.

I started small amount but consistent. I believe in the power of Peso. The peso I save today has something to do for the future need of mine and the needy ones. I learned the beauty of paying oneself. Twenty percent of my earnings a month will go to savings and the rest percentage will go to expenditures. For many years I been doing this but there's more beautiful than this manner of saving. The first 20% gradually is No longer First but I change into 10% not a saving, not investment I try at the beginning  a 10% Tithing. Yes it is not easy. For many times I could not make it perfect, yet I continue. It's amazing using this formula;  
I-10%=BALANCE - 20% =EXPENSES

10% of my income goes to tithing/charity
20% goes to saving
Balance = Expenses

P. S.  The first 20% gradually is No longer First but I change into  10% not a saving, not investment I try at the beginning  a 10% 
         Tithing
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The Habit of Saving

The value that I've got from my mother of being saver was fully practiced when I was in college. I have to leave our rural place and stay in the city for my college studies and went home only during week ends. That was during my first two years in college. Every Sunday I have to go back again to the city as to be on time for the following day schedule of classes. My budget allowance is good also for one week . With that allowance, I learned to budget for fare, food, snacks, and school projects. And if I want to buy something or go  somewhere , I have to save the surplus money of my previous week budget. This was my  simple financial management at that time, which was based on practicability.

After two years, my weekly visit was changed int a monthly home visit to our place. For it was the demand and nature of our catechetical formation. Changes was  not only on home visit but also in allowance or budget. My parents changed my weekly allowance into  semestral. They give me the budget for the whole semester. For the fear that the money will  be lost I decided to deposit it in the bank. I chose a good bank which also accessible for me to go. I don't know at that time  what is inside in a bank. What I am sure of , bank is a place of money. So I went. I was so reluctant to get inside the bank for it was my first time to step in a bank. Oh, it's a cool place where many people waiting to be called by their name . And I asked the guard where to go to open an account and the guard told me to go to new account section. Then, the approachable lady facilitated my first deposit at BPI Family Bank. It was  first savings account. It feels good to put something in the bank.  Every month I visited the bank to withdraw for my monthly allowance. Every beginning of semester, again I go to the bank to deposit for semestral budget with additional amount from the savings of my monthly budget. I learned the habit of saving and value it up to this time.

PS. It is good to develop the habit of saving for it becomes a value  
      later on where we can motivate us to make money in a fight way
         http://makingmoneyrightfully.blogspot.com

Great Saver

I grow up in a family where our  parents taught us to value almost  everything.We live in a  farm  in Southern part of the Philippines. At the beginning, in ,our family economy, the  idea of banking was remote  to our parents. Every after harvest season my Papa entrust the earnings to my Mama. What my Mama did with  the money? Before making the budget for the coming months, Mama will screen all the bills and look at bills that are newly  release from the central bank and put them separately.  So instead of deposing it in the bank Mama deposit her money in the " baul" ( big wooden box where clothes are kept). That.s the financial management of Mama.

That.s  way  my mother managed our assets and it was striking to me in which I too do the same.