My Savings Plan
I have been talking about a savings plan for quite a while now. So I sat down and since I have internet, I decided to do the research.
What brought this about? It was when I started staying here at home, and finding out that my parent's investments with Prudential Life Plans have been flushed down the drain. Yesterday, they had to go to that company to claim what my mother reported as a PHP6,000 check for a PHP125,000 investment. What with their being senior citizens, they got the chance to get in a little ahead of time than most of the people there. But being senior citizens, of course they don't have the energy or frame of mind to tackle why they only received such a measly amount for the their investment.
All that hoo-hah aside, the point of everything as far as I'm concerned is that I don't have a penny to my name.
Okay. The initial point of this all is that, number one, I NEED TO SAVE MONEY. I need a savings account. I need SAVINGS. Period. Sometimes, I don't know if I should relive the times that I didn't have money, or I've been having worries or troubles because of money issues. I know that in order to start getting back into the proper mind set of things is by:
#1. Doing away with all my debts.
As of today, I owe money from the following people, and I'm listing this down because no matter what happens, I'll want to get this documented, just like I documented my problems back in June 2012. I realized that it has been an ongoing problem, and as of right now, my problems are far better since I no longer live in the same house as my husband. So that basically means, all his expenses will be his, and all my expenses will be mine. Provided I don't ask anything from him for the next couple of months, then I'll be "financially free" from him.
So, on to the list of people that I owe money from as of today:
1. Loan with Ate Lou
2. Ric's Ring - P1650
3. Ate Christy
4. Rent at Cainta
5. My Laptop which is currently pawned. Oh my goodness, I'll need to squeeze in something for that.
The fact of the matter is, I am going to be unable to save if I have outstanding balances such as the above. I know that I'm going away with two of those 5 lists. I NEED TO in order for me to start getting rid of debts. Very soon, and I know by the end of the year, I'll be able to get rid of these debts, and then I'll be home free.
So yeah. That's the number one thing. And then, while I'm doing away with my debts, I also have:
#2. A Savings Plan
I'm studying the different kinds of savings plan that I can get my hands into. I figured, since I have internet connection, I might as well use it to my benefit and my betterment in life. Hey, I know I can't get everything done in one day. So I want to make sure I follow up on a daily basis. I know my daughter's going to bug me every single day. Speaking of bug, she's definitely going to bug me while I do my research so I'll need time to contemplate on this stuff offline in some way. I'll need to take down notes, and read, and read and re-read them.
After going through all this, I feel like it's going to the gym. I remember how I spent almost every single day in the gym. Of course I plan on going back, just not now because I'm recuperating from Dengue. But I think back to the time that I've been spending almost everyday in the gym, and I wonder now how much more weight I lost since I got sick? All that aside, the point is THIS FEELS LIKE GOING TO THE GYM.
Why? Because you're starting a life-long commitment of savings. Maybe if I add a table, you'll see what I mean.
Okay, well I tried a table, and that didn't work. So anyway, I'm still studying during this time about investing, stock markets, mutual funds, and such. I don't know where I'm going to invest my money just yet. But an envelope would be a good way to do so. And then later on, I can return to the different kinds of budgeting. But I need to stick with the first two things I've listed here on my blog. So hopefully I'll be returning on payday, or a little after payday to update you on what's up. Here's for now! More for later!
What brought this about? It was when I started staying here at home, and finding out that my parent's investments with Prudential Life Plans have been flushed down the drain. Yesterday, they had to go to that company to claim what my mother reported as a PHP6,000 check for a PHP125,000 investment. What with their being senior citizens, they got the chance to get in a little ahead of time than most of the people there. But being senior citizens, of course they don't have the energy or frame of mind to tackle why they only received such a measly amount for the their investment.
All that hoo-hah aside, the point of everything as far as I'm concerned is that I don't have a penny to my name.
Okay. The initial point of this all is that, number one, I NEED TO SAVE MONEY. I need a savings account. I need SAVINGS. Period. Sometimes, I don't know if I should relive the times that I didn't have money, or I've been having worries or troubles because of money issues. I know that in order to start getting back into the proper mind set of things is by:
#1. Doing away with all my debts.
As of today, I owe money from the following people, and I'm listing this down because no matter what happens, I'll want to get this documented, just like I documented my problems back in June 2012. I realized that it has been an ongoing problem, and as of right now, my problems are far better since I no longer live in the same house as my husband. So that basically means, all his expenses will be his, and all my expenses will be mine. Provided I don't ask anything from him for the next couple of months, then I'll be "financially free" from him.
So, on to the list of people that I owe money from as of today:
1. Loan with Ate Lou
3. Ate Christy
The fact of the matter is, I am going to be unable to save if I have outstanding balances such as the above. I know that I'm going away with two of those 5 lists. I NEED TO in order for me to start getting rid of debts. Very soon, and I know by the end of the year, I'll be able to get rid of these debts, and then I'll be home free.
So yeah. That's the number one thing. And then, while I'm doing away with my debts, I also have:
#2. A Savings Plan
I'm studying the different kinds of savings plan that I can get my hands into. I figured, since I have internet connection, I might as well use it to my benefit and my betterment in life. Hey, I know I can't get everything done in one day. So I want to make sure I follow up on a daily basis. I know my daughter's going to bug me every single day. Speaking of bug, she's definitely going to bug me while I do my research so I'll need time to contemplate on this stuff offline in some way. I'll need to take down notes, and read, and read and re-read them.
After going through all this, I feel like it's going to the gym. I remember how I spent almost every single day in the gym. Of course I plan on going back, just not now because I'm recuperating from Dengue. But I think back to the time that I've been spending almost everyday in the gym, and I wonder now how much more weight I lost since I got sick? All that aside, the point is THIS FEELS LIKE GOING TO THE GYM.
Why? Because you're starting a life-long commitment of savings. Maybe if I add a table, you'll see what I mean.
| GYM | SAVINGS |
| * Must be done on a regular basis, about 3 times a week. | * Must be done on a regular basis, to start, every payday. |
| * Requires a work out plan | * Requires a savings / budget plan |
| * Gym instructor plots your 6 week plan |
* You or a financial advisor plots your monthly, yearly investment plan |
| * You need to go on a diet from eating whatever you want | * You need to go on a diet from impulsive shopping. |
| * You
need to stick to your diet |
* You need to stick to your budget |
| * You need a coach to motivate you, yell at you if needed. :) My coach doesn't yell at me, in fairness. | * Your financial advisor will push, push, push you to invest, invest, save, save save just to keep you on track. |
Okay, well I tried a table, and that didn't work. So anyway, I'm still studying during this time about investing, stock markets, mutual funds, and such. I don't know where I'm going to invest my money just yet. But an envelope would be a good way to do so. And then later on, I can return to the different kinds of budgeting. But I need to stick with the first two things I've listed here on my blog. So hopefully I'll be returning on payday, or a little after payday to update you on what's up. Here's for now! More for later!
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