How to create your savings in 3 no-brainer, simple ways

"Nagsasave naman ako, pero parang bakit ang bilis maubos?"

"Nagsasave naman ako, pero bakit wala naman nararating ung savings ko? Ang baba pa din."

"Nagsasave naman ako, pero minsan wala talaga natitira kasi kailangan bumili ng ganito ganyan."

Relate ano po? Don't worry, you are not alone in this dilemma.

To firmly establish your financial plan foundation, you must allocate a portion of your income to your savings. Some of you may say, "I have a savings account," which is good and commendable. But most would keep their monthly sweldo/sahod either in cash or in their payroll account.

What's the negative effect of doing this? With holding your savings is CASH, as much as you train your mind to not spend this "savings," you realize your cash savings is soon depleted. It's very much liquid, meaning madaling magastos, because of obvious reason.

In contrast with holding you savings in your payroll account, this causes a "money-strategy-of-the-poor" mentality. You tend to pay off your monthly bills first and what's left will be your savings. But the question is, may natititra ba?

So what could be a great solution? Here are 3 advices you already know but you just need to be reminded:

1. Rewire your mindset

Its all in the mind! Rewire your mindset to build habits and to build discipline in any aspect of your life, including your finances. Practice delayed gratification

2. Have a savings account in a separate bank

That is DIFFERENT from your payroll account. Natamaan ka, ano? Kasi ganyan ang gawain mo? With this technique, you can start paying yourself first. ATLEAST 10% of your monthly income is enough just for you to establish your savings. This will discipline you to have a "money-strategy-of-the-rich" mentality. This is where you allocate a portion of your monthly income first in your bank account before paying off your bills and other expenses. Masyado malaki yung 10%? Think again.

3. Throw your excuses

NO EXCUSES. Period.

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