saving tips Archives • Cebuana Lhuillier Pawnshop

Ten Ways Technology Helps You at Having a Healthy Lifestyle

Advances in communication technology have made it more difficult to leave your work in the office. After all, your boss can reach you at any time on your smart phone! Fortunately, technology also provides ways to help improve your work/life balance.

1. It allows you to spend more time at home.

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Technology allows you to telecommute and work from home, which means that you can save time on commuting that you can spend with your loved ones. You also don’t need to wake up as early, which provides you with a little more sleeping time.

2 . It allows mothers to earn income while staying at home with their children.

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Technology provides stay-at-home mothers with a wide range of income opportunities, such as selling products through social media or working on a freelance basis for their former employers. Thus, mothers can balance income-generating activities with their parenting duties.

3. It provides more opportunities for workplace development.

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Instead of spending time at the office training to learn new skills, you can study training modules on your tablet or listen to audio lessons. This not only allows you to learn at your own pace without the pressure to keep up with faster learners that you may experience during workshops with limited time frames, but also provides you with more personal time that you can spend with your family or doing leisure activities.

4. It allows you to be more flexible with your schedule.

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Instead of being forced to work long hours at the office, you can take some work home with you. Of course, you also have to know how to unplug in order to maximize your personal time.

5. It helps you to stay fit.

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Instead of having to go to the gym, there are apps that you can download on your smartphone that provide you with fitness programs that are easy to do and take only a short time to complete.

6. It makes it easier to stay connected with your loved ones.

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While face-to-face interaction is still ideal, when this is not possible, texting and other forms of digital communication allow you to keep in touch even when you’re not physically together.

7. It allows you to learn while you’re commuting.

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The US Census estimates that Americans spend an average of fifty minutes a day traveling to and from work. You can make good use of this time by listening to audio lessons that can help you upgrade your skills.

8. It helps make you more efficient.

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If you have a million things to keep track of, apps and other productivity tools on your computer can remind you of deadlines as well as organizing your schedule so you can use your time more effectively.

9. It helps you avoid unnecessary meetings.

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A lot of time during the workday may be wasted in face-to-face meetings with team members; you can avoid this by using collaborative tools that allow you to keep in touch with individual members so that you can stay on top of your projects without having to talk personally with them.

10. It helps you save time on chores.

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Instead of going to the supermarket or grocery for routine trips, you can order what you need online and have it delivered straight to your home.

A lot of people believe that technology forces workers to struggle with maintaining their work-life balance. But technology can also provide workers with the flexibility to adjust their schedules without work having to intrude into their personal lives. It really depends on how you use technology and how you can ‘unplug’ yourself when you’re not working.

Seven Tips for Regaining Financial Control

These days, it is so easy to overspend, since credit cards are so readily available, and the convenience of online shopping encourages impulse buying. Thus, more and more people are living beyond their means and getting deeper into debt. Fortunately, with a little discipline, there are ways that you can get your finances under control.

1. Track your expenses.

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In order for you to better understand where your money is going so you can control your spending, you should track your expenses. For at least the next week, or ideally a month, write down everything you’re spending. This inventory should include fixed expenses such as mortgage payments and rent, variable expenses such as food, entertainment and gas, and miscellaneous expenses like birthday gifts and car maintenance.

2. Create a budget.

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Budgeting allows you to better control your spending by determining in advance how you will allocate your expenses. Depending on your requirements, you can make a detailed budget that covers all your expenses or a simpler one that includes only those problematic expense categories that you want to control.

3. Allocate your income using the envelope system.

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This is a super-simple way to keep your spending under control. All you have to do is get a number of envelopes that you will label with a particular expense category, i.e. food, entertainment, and so on. When you get paid, draw all your money for the particular pay period from the ATM. Then put the amount that you intend to spend on a particular expense in the proper envelope. Once the money in the envelope is depleted, you can no longer spend on that particular expense until you can replenish it in the following pay period.

4. Create a debt payment plan.

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If you have balances on a number of credit cards, you should make a plan to pay them off. There are two ways you can do this: pay off the card with the highest interest rate first, then the one with the second highest and so on, or pay off the card with the lowest balance first, then the second lowest and so on, until you have paid off all your balances. When you eliminate a balance, use the money you would have spent for it towards paying off the other cards.

5. Look for ways you can reduce unnecessary expenses.

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For example, instead of buying premium coffee at a coffee shop, brew your own coffee at home and take it with you in a travel mug. Brown bag your lunch instead of buying it from outside. Reduce the number of times you eat out in a month. Cancel subscriptions to products and services, such as magazines, that you are not really using.

6. Treat your savings as a bill.

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To ensure that you are prioritizing savings, you should treat it as if it were a fixed expense, like your rent or your mortgage payments. When you’re paying off these expenses, also make sure to deposit the amount of money you’re allocating for savings into your bank account.

7. Establish a spending limit.

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One of the simplest ways you can control your spending is to set a maximum amount that you will spend for the month or the fortnight, and then only transfer that amount into your checking account from your savings account. This makes it easier for you to control spending since you’ll know exactly how much is available to you.

Finally, make sure that you stick with whatever method you choose. Of course, controlling your finances will not be easy, but with time, effort and patience, you can do it!

Nine Stress-Free Budgeting Tips for New Parents

Having a baby can be one of the most joyous events of your life. Unfortunately, it can also be one of the most expensive, since all the costs of raising a baby can really add up. However, there are many things that you can do to save on expenses and make paying for your baby more affordable.

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1. Prioritize your spending. Many parents feel that they need to have everything they will need for baby ready by the time he or she gets home. But it would be better for your budget if you prioritized immediate needs and put aside less urgent expenses. For example, instead of buying a crib, the baby can sleep in a bassinet or cradle in your room, and you can postpone your purchase for a few months.

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2. Choose gear that you can convert as your child grows. For example, you can buy a crib that can convert into a baby bed or a stroller that changes to accommodate your baby as he grows into a toddler. If you plan on having more children, you can also choose strollers that convert to accommodate two or more babies. You can also buy clothes that are one size larger since your baby will quickly grow into them.

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3. Buy baby products in gender-neutral colors. Instead of buying blue or pink items depending on the gender of your child, choose items that are green or yellow, for example. This will allow the gear to be passed on and used by future children.

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4. Skip nursing-specific clothes. If you are breast-feeding your child, you don’t need to buy clothes that are specifically designed for nursing mothers. Instead, blouses that button in front and tank tops will do. Or you can simply cover up with a scarf when nursing your baby.

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5. Buy items in bulk. This is a simple budgeting tip that new parents should adopt. For example, since you will be using a lot of diapers, there is no reason why you should not buy them in bulk quantities. In addition, you’ll be saving time and money since you won’t have to replenish these items as often.

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6. Consider making your own baby food. Doing this can also be healthier for your baby. All you have to do is invest in a small food processor and you can be sure that your baby has a regular supply of fresh food made with fruits and vegetables.

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7. Share products with your baby. You don’t need to buy products that are marketed as being for babies, such as detergents and body washes. Many of these items that are made for adults are actually also suitable for infants, as long as you make sure that they are free of ingredients that could irritate your little one as well as being gentle.

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8. Look for online flash sales. Shopping online can help you save money and you can enjoy even bigger savings if you encounter online flash sales. In addition, you can also look for coupons for products that you commonly use that you can redeem online, or print out and take to a physical store.

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9. Ask about tax deductions. In addition to the $4,000 deduction you can claim for each dependent child, there may be other tax exemptions that you can qualify for, such as the Child and Dependent Care Credit if you pay someone to take care of your child.

The best way to ensure that the costs of having a baby will not be ruinous to your finances is to prepare in advance. Before you give birth, estimate how much you will spend on baby costs so that you can plan in advance how you will deal with them.

Money Budgeting Hacks for Students

Magastos ang buhay-estudyante, and it’s really true. But that does not mean that it should be your mindset. In fact, there are so many ways for you to save money while studying. Don’t believe me? Well, read on, and learn about the 10 financial hacks that can help students like you!

1. Buy or rent used textbooks from upperclassmen

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Being friendly is good because you can ask upperclassmen—or your kuyas and ates in school—to lend or let you buy their old textbooks. Bonus points if those textbooks have notes in them—you’ll surely be able to answer your teacher’s questions with ease!

2. Cut out your vices

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Why smoke when you know it’s bad for your health—and bad for your wallet, as well? And, why drink at those fancy coffee or tea shops when you know you could make your own drinks, or just drink water instead?

3. Apply for scholarship

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Eh pang-matalino lang yun might be what you have in mind, right? Well, everyone is smart in his own way—and surely, you are, too. Applying for scholarship is a good challenge for yourself—and a good way to save money you would otherwise pay for tuition, which will really make your parents—and you—happy. Besides, there are other kinds of scholarships. You could get an athletic scholarship or apply as a student assistant (SA) —the choice is yours!

4. Know your discounts

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Use that student fare discount when riding a jeepney—just do not abuse it. Look for student discounts at your favorite restaurants or malls. Look for coupons online. Even Amazon provides great discounts for students—you just have to make use of them.

5. Live with others

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If your house is near the school, you can opt not to stay in a dorm. However, if you feel like it would be better for you to stay in a dorm or a house near the school, make sure that you think of affordable ways of doing it. You can stay with trusted relatives or friends near school. Don’t stay alone in an apartment or condo unit—especially if you know you’ll have a hard time keeping up with the costs.

6. Bring your own baon—or eat at the canteen

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You don’t have to eat at a fastfood restaurant each day. It’s also fun if you could bring your own food—and maybe even swap with friends! You could also opt to eat at the canteen—it’s old-school goodness, you see!

7. Don’t buy load unless you need it

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If you know you’re not going to be texting anybody, and you are not expecting text messages, just forego the need to buy load each day. Better yet, you could buy one of those P300 cards and just text when you have to—it might last for a month!

8. Use school facilities

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Schools have clinics—go there if you’re not feeling well. It’s part of your tuition. Some schools have good gyms, too—make use of them. Get your money’s worth.

9. Walk or ride a bike to school—if you can

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If school is just a few blocks away, wake up early, and then walk or ride a bike to school. Not only will you get to save money, you’d get to exercise, too!

10. Sell what you no longer need

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And, remember that being in school is not an excuse not to make profit. Sell some of those useful things that you no longer need—you get to help others out, and you gain profit, as well!

Keep these tips in mind and save money as you study!

Be on the Right Track: 7 Things You Need to Know about Personal Finance

Handling money could be a tricky thing, so you have to make sure that you are aware of your personal finances. Otherwise, other people might take advantage of you.

There are 7 important things you need to know about Personal Finance—and you’ll find them all right here!

Make sure that you earn more than you spend

Let’s put it this way: What do you think will happen if you spend more than what you earn? Easy—you won’t be able to balance your finances, and soon enough you will find yourself in a pool of debt—and that’s not really something you want to happen.

Save early and it will turn into a habit

As with most things in life, the earlier you start, the easier you adopt the habit. It’s the same with saving money

If you started saving money way back in grade school—even by just using a piggy bank—you’d apply the habit for most of your life. The money that you save could be used for emergency funds—which everyone really needs! You don’t have to save too much—just save a little each day and you’ll surely have enough money to get you through the rainy days!

Be diverse

This means that you shouldn’t put your money in one place alone. The thing about life is that you never really know what’s going to happen—and putting your money in a single place is a no-no because there’s also a tendency that you might lose them all at once.

Therefore, make sure that you put your money in at least two banks—and even in separate wallets, if you can!

Protect yourself from phishing/scam artists

So many people end up being victimized by scam artists who ask for their credit card or bank account details online. You can protect yourself by making sure you change your PIN from time to time, and that you do not use the same passwords for all your email/online accounts. Always review bank statements, and don’t give credit card and extreme personal details to others unless absolutely necessary.

Save up for the rainy days

The thing with people is that they are so scared of scenarios that put their lives in danger—but they really don’t do anything about it. Therefore, you have to make sure that you could get money somewhere when emergencies come up.

Invest in emergency insurance funds, disability insurance, health insurance, and even homeowners insurance if you can. What matters is you make sure that you won’t end up with nothing—especially during emergencies.

Make use of automated savings

Automated savings means that for each paycheck you receive, a part of it would automatically go to a savings account. This way, you won’t have a hard time putting the money on your own to the account—and you won’t be tempted to use it, too!

Track your credit standing

This is all about how companies or lenders would trust you if ever you’d need help from them one day. This would also show you how you’ve been spending, and how much credit you can have. To check, you can try talking to your bank as they may have available data.

Be knowledgeable about personal finance and you’ll have a hassle-free, financially stable life!

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http://theodysseyonline.com/memphis/saving-money-for-college-students/223569
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http://www.livingrichcheaply.com/2014/05/14/how-much-is-in-your-wallet/
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How to Save Money if You’re a First Time Employee

Congratulations, you are now earning your own money! BUT, before you rush to spend it on all your heart’s desires, think about where you want your hard-earned money to go.

There are far too many sad stories of Pinoys giving in to their impulses that they end up with nothing after all their hard work. While it is okay to treat yourself every now and then (it is your own money, after all), it is always best to save some of it. Here are the steps that will help you start building your wealth, even as a first time employee:

Step 1: Determine the exact amount that you are earning

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For instance, a 10,000 to 15,000-peso monthly compensation might look amazing, but in truth, there will be several deductions, including taxes, Pag-Ibig, SSS, and Philhealth. Your net income is what is left for your saving and spending power.

Step 2: Decide how to divide your money and where you want each allocation to go

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Even after the deductions, you might still think your net income looks substantial enough to let you afford a postpaid cellphone plan, but the truth is that there are more expenses to worry about.

First, calculate your basic monthly living expenses (rent, utility bills, transportation costs, food expenses) and deduct that from your net income. The remaining amount is your residual income and it is what you have left for savings and for your wants. The amount of each category depends on you.

Step 3: Pay off all of your debts first

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If you have any debts, such as student loans, credit card bills, or money you owe to people from whom you borrowed when you were still unemployed, you need to pay them off ASAP, especially when there is interest involved. Aim to channel 80 percent of your residual income on paying off debts.

Step 4: Build an emergency fund

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Once your money is out of the red (meaning “wala nang utang”), you can start building an emergency fund in a bank account. An emergency fund is the money you will use only when you lose your job or when you need to pay for medical expenses not covered by your company’s insurance.
It is recommended that you do not use a savings account with ATM access because the temptation to withdraw will be too strong. Look for small-time but reliable savings banks that offer passbook accounts with a lower maintaining balance, such as City Savings Bank or BPI family Bank.

Step 5: Consider life insurance

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Life insurance is essential for those who have dependents, because if something happens to you, the company will provide a premium amount to support your family. Make sure to find an insurance agent from a company you can trust. Take note that life insurance is not a savings account for your retirement.

Step 6: Open an investment fund

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Savings accounts in banks will not let your money grow substantially; in fact, you may end up losing money because the interest you gain is not enough to catch up with inflation. As soon as you have reached your emergency fund goal, you should start putting money into an investment vehicle. Have your risk tolerance assessed by an insurance agent and then research on the fund that he or she will recommend to you.

Follow these tips and you will not be sorry when the time of your retirement comes, or when an emergency strikes. Good luck!

How Pinoy Households Can Save More through Proper Budgeting

Does it feel like your hard earned money just slips through your hands during payday? Do you feel like you’re not earning enough no matter how hard you work? It is sad to say that many Filipinos feel this way. However, the good news is that there is a simple solution to help you save more and prepare for the future.

The Magic of Budgeting

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Everyone knows what a budget is. Even the old man selling balut at night knows what it is and what it is for. It’s a pretty common concept yet, unfortunately, only a few Filipinos apply it in their lives. You can ask your friends or coworkers if they use a budget. You can also ask them if they stick to it – meaning they strictly observe their budgets. Prepare to be disappointed when you find out that not many use or even have a budget.

No matter how simple it may sound, making a budget and being strict about it will provide many life changing benefits. For one thing, it will help you find out where your money went. It will also be an eye opener showing you what your real priorities are. Finally, making a budget will help you save money.

Benefits of Proper Budgeting

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Proper budgeting can actually benefit Pinoy households in many ways, other than the ways that we have already mentioned above. Let’s go over a few more of them:

*Practice self-control*: Making a budget will help you practice self-control. You will be making a list of items you need to spend on and opposite that will be the amount you have allocated for each item. Anything that is not in the list will not be considered – no matter how much your son or daughter begs for that new cellphone.

*You can provide funds for the neglected aspects of your life*: When was the last time your wife had money to go to the parlor to make herself look pretty? When was daddy able to have a really good haircut? When did you last have enough money to go to the dentist? Proper budgeting will help you allocate and save money for some of the things you may have neglected because you focus on work too much.

*A budget will help you identify your needs from your wants*: When you outline a budget, you will have to identify your needs and wants. Your list of needs represent your necessities – things that you can never live without, just like your water bill, electricity bill, food, etc.

Your list of wants represents items that aren’t that necessary but you will want to spend money on anyway, if you can. You can still live a happy life without the latest Samsung phone in the market, right? You will spend money first on your needs list, and only when that list has been covered will you spend money on your wants list.

*Budgeting for the unexpected*: Having a budget will help you set aside money for unexpected expenses like a child getting sick, an accident, or any incident you were not expecting. This part of your budget is called the “emergency fund.” It’s a little amount that you hold on to and never spend unless absolutely necessary.

You start with a small amount, and then next payday you add to it. Any excess funds you save during this payday will also go into that emergency fund. Your emergency fund will be a big source of comfort when an actual emergency comes around – at least you won’t have to borrow money from anyone just to pay for hospital bills, etc.

*Plan for future needs*: You will eventually retire from work but you will still need money. Most people rely on their kids when they’re elderly. However, if you have been following a budget your whole life, you should have some savings that you can use when you’re retired.

Preparing for Rainy Days

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A budget is simply a tool that will be useful to you if you live by it. It will eventually teach Filipino households some financial discipline. By strictly adhering to it, Filipinos will only be helping themselves by saving more money for present and future needs through proper budgeting.

25 Easy Money Saving Tips for the 20-Something

To be in your 20s means you still have a lot of time to work and save money. Unfortunately, many Pinoys do not save. They waste all their income on unimportant and fleeting things (“sa mga walang kwentang bagay”) when they should invest or save a part of their salary for the future.

Here are 25 tips that you can apply in your life to start saving right away:

Set Up Your Savings:

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1. Set aside money for things that can help you in the future. For example: emergency fund, life insurance, and investments.

2. Set a daily allowance for your transportation, food, and other necessities, and a little extra money for emergencies. Bring *only* that daily allowance when you go to work.

3. Set a savings target amount, and make a long-term plan to save that amount. For example: If you want to open a P10,000 investment account in 3 months, set aside P35 every day for 3 months.

4. Set a deadline for each savings goal and mark it on your planner or
calendar.

5. Use a smart phone app such as *Monefy * to record all your daily
expenses.

6. Open a savings account separate from your payroll ATM. If possible, open a passbook account without an ATM card.

7. Do automatic transfers from your payroll to your savings account to avoid temptation to spend (*para makaiwas sa tukso*).

8. Talk to a financial expert and ask what type of investment is best for you. It can be stocks, money market, mutual funds, etc.

Shop Wisely:

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9. Always prepare a grocery list before going to the grocery store.

10. Keep a checklist on your phone of items you need to buy at the mall so you buy what is necessary.

11. Cut back on expenses that are not important, such as expensive coffee, so you can save money.

12. Watch out for promos and incentive programs for things you need to buy, such as toilet paper, and other regular supplies. Set aside money to buy in bulk (*maramihan*).

13. Cut your credit card. If you will not use your credit card for business, always pay in cash instead.

14. Do not buy something when you can borrow, such as books.

15. Buy prepaid load for your phone. It is only ok to get a postpaid plan if you will use it for your business.

16. Keep a list of cheap restaurants with delicious food on your phone. Do not eat in expensive
restaurants.

17. Invest in high quality clothes that you can wear again and again for many years; buy from good clothing brands such as H&M. Prioritize timeless and flexible designs.

Change Your Lifestyle:

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18. Save money with the help of your friends. Save money on gasoline by car-pooling. Save money on food by cooking meals and eating together.

19. Do not go shopping or eating out on your free time. Think of how you will earn more money instead.

20. Cook food in bulk on Sundays and bring packed lunch (*baon*) to work.

21. Take care of your health. For example, take vitamin supplements so you will not get sick.

22. Limit your entertainment expenses. Find cheap ways to enjoy with friends and family. For example: playing board games and watching free movies.

23. Read and listen to experts on personal money matters, especially Filipino mentors like Francisco Colayco and Chinkee Tan.

24. Copy the habits of rich people who are careful in spending their money like Lucio Tan. Don’t copy celebrities who spend a lot of money on luxury (*luho*).

25. If you want to spend on luxury, earn more money by getting a sideline.

Filipinos like to live like a millionaire for a day, but if you start saving and investing your money now, in the near future, you will be a millionaire for life! Don’t waste any more time and start saving now!

Make sure that you earn more than you spend

Save early and it will turn into a habit

Be diverse

Protect yourself from phishing/scam artists

Save up for the rainy days

Make use of automated savings

Track your credit standing