Saturday, September 27, 2014

My 365 Savings Goal

One year consists of 365 days.
My idea is to start with a small goal.
So why not set A One Peso Goal?
From One peso a day to 365 pesos a year!
And the Challenge: How many 365's can you save in one year?
******************


Rewind..........Last June 2013 I was in debt of almost P12,000.00 in credit card bills while my salary is around P 3,500.00 that time due to cash advances. I cannot control my expenses since I have credit cards in my wallet (feeling rich kasi e) and no matter how hard I tried to settle all my dues I always end up running on that same loop. For year's I've been struggling, I know my financial life is really in bad shape, "I don't want to be like this anymore" I said to myself.
So I started searching & reading facebook pages regarding financial tips from pesosandsense, pinoyfinancialplanning, Francisco Colayco, Chinkee Tan to - financial blogs of pinasforgood, savingspinay, frugalhoney, readytoberich, personalfinanceapprentice, lifeinmanila, ramblingsfromaweirdo etc etc etc, I cannot named them all here. I enjoy reading their blogs - different lifestyles, different generation, different tips, different views in life I've learned a lot from them & I'm still learning from them. Then I started planning - budgeting, controlling my expenses while I'm on process of clearing all my debts (snowball effect technique).

But there's another problem --- I also want to save & I want to invest too, but how? I'm in negative situation here -- where the result of my debt vs. my salary is deficit.
Out of options something pop out in my mind when I saw a one peso coin?
Why not start small? Start with one peso goal :)
So, everytime I went home with an extra coin I list it down & put it in my coin bank. Every time I completed a P 365.00  I feel fulfilled...Wow, I was able to save 1/day for a year. Then I'll save another set of  P 365.00, for another fulfillment 2/day for a year, then another and another and so on & so forth.....instant gratification di ba?

It's easy to say I will save 50/day, 20/day, 10/day, or just 5/day but when some unexpected circumstances happen I stop, gets frustrated and doesn't want to continue saving anymore- that's me, that's my attitude. I also read the 52 week challenge but I know I wont be able to finish that challenge. Even the 50-30-20 rule & the 70-20-10 rule is sometimes not doable for me. That's the reason why I invented my own savings method last year---I want to be constantly motivated - I want to feel that sense of fulfillment everytime I completed this 365 pesos in my savings list.
My 2013 Notebook
Then last November 2013 I opened a passbook savings account in Wealthbank @ P 500.00 with a 0.25% interest rate and twice a month I deposit all my savings there no matter how small the amount is. Finally by the end of the year 2013 I completed 12 sets of 365.00 = P 4,380.00 plus I added P 220.00. Woohoo, I was able to save a total of P 4,600.00 by the end of the year 2013. It maybe small for some but for me its a great achievement already.
This 2014 all my goals and plans are written in this site.
I made this chart/record in our office so I can easily update my savings:

28 sets of 365 means I was able to save 28/day for 1 year
 But I also do my oldskul style of writing in my notebook @ home.
I'm on 63rd set of 365, my minimum target savings is 82 sets = P 29,930.00 this 2014.
I've already set aside P 30,600.00 (some of it were from my 365 savings) but it was redirected to my capital contribution account.
(I can consider it as emergency fund too because it can be withdrawn anytime since I'm also waiting for their dismembership letter).
I'm now building my 2nd emergency fund of P 10,000.00 time deposit account while still making an additional investment on my mutual fund.
I'll be balancing my networth by December still a bit confused about it.


There it goes. See, I was able to outsmart myself. I easily give up before when something goes wrong. It is only this year that I was able to pursue all my goals and challenge myself to do more. I think one of the financial tip I can share to others is to know yourself first, determine your capacity, recognize your weakness and work it out with your strenght and through that you'll be able to improve yourself more.

Next year, I'll be adding some self improvement goals, research some business ideas (though I'm not a business type person) plus another 365 - share, serve, and worship goals in my notebook (like what I've mention in my first blogpost here- Best effort kay God muna).


Happy Weekend Guys!!!!!

Friday, September 26, 2014

My Wall

This is my wall.
It's not the wallpaper of my desktop computer.
And certainly not the wallpaper of my cellphone (just kidding).
This is the wall inside my room, where all my goals are posted.
Constantly reminding me everyday that I have goals to reach.
So I must get up and start a productive day.

As for the bills, I need it posted for the due dates.

And what about the flashlights, of course for emergencies, hahah. Bought those rechargeable flashlights last July during brownouts. I woke up today looking on that wall particularly on that flashlights. Emergency situations needs preparations. Right now I'm still looking for ways to be prepared for the unexpected.
Still worried about the health of my parents today since their healthcards will expire on September 30.(My brother already change his status at work and automatically his beneficiary will be his family now).I cannot find a replacement for it since most of the healthcards do not accept those with pre existing illness. Still searching for healthcards infos.

Saturday na naman, I'm in tamad mode today but I need to work.
Time flies so fast, Parang kahapon lang ang January and now Christmas is fast approaching, feel like I'm running out of time to reach all the goals I have set......

Hopefully I can achieve all my goals before 2014 ends.


Happy Weekend!!!!!!






Monday, September 22, 2014

My Notebooks

My Black Notebook, My Favorite Notebook, & My Gold Notebook
My Black Book- this is my budget book where I list down my daily expenses & my monthly budget.

My Gold Notebook - this is my expenses notebook where I list down all the prices of grocery items & some of my personal stuffs  that I bought.

 My Favorite Notebook - this is where I list & monitor my 365 savings goal and my FAMI fund.
I have set an 82 sets of my 365 savings goal this year which is equivalent to P 29,930.00
I'm on my 63rd set now plus I've added P 20,000 target for my mutual fund.


Hopefully I can reach my total target goal of P50,000.00 both my savings & mutual funds before the year 2014 ends :)

Happy Monday :)

Saturday, September 20, 2014

Everything is Set.....(Tagalog Time)

Biyernes - September 19, 2014.Gumising ako ng 6:30 ng umaga.
 Kumuha ng tuwalya at bumaba para maligo @ 7:00 am.
Nagtimpla muna ng kape at tumabi sa tatay ko sa sala habang nanonood ng balita.


“O ano, papasok ka pa, kaliwa’t kanan na ang baha?” tanong ng nanay ko.
"Narinig mo ang balita – may bagyo at habagat ngayon, lalakas pa yan mamaya."( Kambal – Bagyong Mario at habagat ).
"Anak, baha na ang mga dadaanan mo nyan?" sabi ng tatay ko.
"Ok lang po, kaya ko naman sumugod sa baha, shorts & tsinelas na lang ang isusuot ko."
"Wag ka ng pumasok anak – mahihirapan ka ng umuwi nyan mamaya."
"Papasok po ako sayang ang araw ko."
Naligo, nagbihis at nag-prepare ng baon.
Dalawang pritong galunggong at kamatis plus isang crossini tinapay for meryenda.
Nakaplastic na ang uniform ko para di mabasa pagsugod sa baha at ulan.

EVERYTHING IS SET, 8:00 am papasok na ko.....Kaya lang----
"Paano ako papasok?"Panigurong lampas baywang na ang baha sa mantrade.
Alternative route sa Ayala walang baha kaso yung dadaanan papuntang sakayan ng Ayala baha din.
Okay, bahala na papasok pa rin ako, paglabas ko ng bahay nakasalubong ko hipag ko.
"Hay naku ate, Isa’t kalahating oras na ko nakapila wala pa ring jeep pa-tulay na dumadating."Okay, balik ng bahay. Laking tuwa pa ng nanay ko, heheh……

Ito ang common scenario ng mga daily wage earners na tulad ko. Kailangan magtrabaho araw araw para kumita " No work no pay ika nga" pero walang magagawa kung ganito ang sitwasyon. Buti na lang me konting sideline pa ako sa bahay, gumagawa ng basahan habang nanonood ng TV.
Pero kung nanood kayo ng TV mas nakakalungkot ang sitwasyon ng iba, napakaraming apektado ng pagbaha sa Quezon City, ang mabilis na pagtaas ng lebel ng tubig sa Marikina River, at ang pagsisiksikan ng mga na-rescue sa evacuation center.
At kahit na may malawakang pagbaha sa ibat ibang parte ng Pilipinas, may mga nagtatampisaw, nakangiti at nagsasaya pa sa baha……

Pilipino nga naman,
Nakukuha pang magsaya at ngumiti kahit nahihirapan.
Common Scenario ang bagyo at baha sa atin,
Kaya lang patuloy ang paglala nito sa bansa natin.
Sana magkaron na ng solusyon,
Para sa bawat bagyong dumating ay napaghahandaan natin.

Monday, September 15, 2014

Financial Diskarte 2

I accidentally erase my post here today, I continously hit the ctrl y & ctrl z here in my blog and voila everything is gone, huhuh....Syunga syunga ko kasi e, akala katulad ng Illustrator & photoshop file na puedeng mag-undo & redo sa blog, haaissst I need to rewrite my blog all over again from scratch, hope I can still locate some of the vocabulary words in my brain......

At work when there's a problem after conflicting arguments, tanong ng Boss ko---
"So, anong solusyon?"
Andyan na ang problema, solusyon ang kailangan ko.
I'm going to use this question to find an easy solution in these 3 financial situation.

Financial Challenge 2

Scenario 1: Last June my financial plans were ruined due to unexpected expenses in house repairs, room transfers & my impulsiveness in buying a necklace. After computing my income vs my payables I'm know that I have a cash shortage of P 3,000.00. I know that I wont be able to pay my credit dues in full so I need to solve this in these 3 options.
1.) Balance Transfer- transfer balance from one credit card to another credit card company with the fixed add on rate depending on terms.
2.) Cash loans- personal cash loan with a fixed add on rate depending on terms.
3.) Balance Conversion - convert your balance with a fixed add on rate depending on terms.

Note: Credit card bills must be paid in full otherwise you will be charge with an average daily interest in both old & new purchases. If you can't pay it in full do one of the three options above it will surely save you from the hazzle of compounding interest.

Scenario 2:
Our neighbor approach my mother "Aling C" may alam ka bang mahihiraman ng P10,000.00 kailangan ko lang agad sa business ko tubuan ko na lang?

I was about to choose the balance transfer for scenario1, when my mother ask me "kung pede kong magawang ng paraan yung sa kapitbahay namin.....Hmmm, I see earnings here, so answered --puede.

Scenario 3:
I was about to confirm to the customer service agent of my credit card cashloan when my officemate overheard my conversation, "Puede ba kong sumabay dyan?"

"ok so, anong solusyon?"
Cash Loan Ulit @
 So I filed a P 15,000.00 Insta Cash loan @ Eastwest Mastercard @ 1.5% add on interest payable for 6 months. Let's do some simple math here:
For Scenario 1 - I use the P 3,000.00 to pay off my credit card dues in full.
For Scenario 2 - I lend the P 10,000.00 to our neighbor with a 12% interest payable for 2 months I only added 2% interest to cover up the whole interest in my cash loan.
For Scenarion 3 - I lend the P 2,000.00 to my officemate with an interest of P 12% payable for 2 months.
Conclusion:
For Scenario 1- I've got peace of mind knowing a fixed interest will be imposed & not the compounding interest.
For Scenario 2 - I gain P 500.00 and it was paid in full last july, I gain another 480.00 last august & I use the 4,000 to redeem my mother's necklace. Some of the principal amount is still rolling while paying for the monthly installment.
For Scenario 3 - I gain P 90.00 while still paying for the monthly installment, Just like in "B" some of the principal amount is still rolling in money lending here @ the office.


My ways in dealing with my finances may not be ideal.
My extra means of earning may not be perfect too.
But I need to use what I got in solving some of my financial problems.
And credit card is what I got to back me up.


Okay, buzzer beater time is up, back to work....

Have a great day guys!!!!!


Note: Dito ko po nakuha ang 2nd top up ko sa FAMI Save & Learn Balanced Fund.




Friday, September 12, 2014

Financial Diskarte 1


Before the year 2014 starts, I've already set all my financial goals but as days & months go by as I fulfill every goal that I have set I've encountered some problems along the way. I used to think that these were problems but realizing how I was able to surpass them I now consider them as challenges.

Financial Challenge 1 - Puhunan & dividend shares
(This scenario happened last May)
Scenerio A
My Kuya approached me: "Ging (my other nickname), may sa order sa akin - kailangan ko ng P5,000.00 pambili ng 100 kgs rags, tutubo din ako ng mahigit 2,000. Puede mo bang gawan ng paraan?
I answered- okay, sige titingnan ko.
Scenerio B
While I was still thinking of some ways to help my kuya, my younger brother approached me:
Ate, kailangan ko na ang pera ko pambayad ng credit card & check up ng asawa ko.
I answered- Alam mo naman na di puedeng basta mag withdraw agad agad sayang ang interes at July 1 pa ang safe withdrawal. Pero mukhang kailangan talaga ng kapatid ko kaya tinanong ko sya kung magkano kailangan nya baka pede kong gawan ng paraan para maantay pa ang July 1 for safe withdrawal, nakakapanghinayang kasi less than two months na lang ang aantayin.

( I have an account called capital contribution in one of the SLAI's in Villamor Air Base.This capital contribution account can only be withdrawn every July 1st & Jan 1st otherwise your dividend shares will be down to savings account interest (from 9% down to 1% per annum).

 SOLUTION:
Insta-Cash Loan from my Eastwest Mastercard
And
My Time Deposit & Savings Account @ WealthBank

For Scenario A:
I made an Insta-cash loan @ Eastwest Mastercard @ 0.95 % add-on interest payable for 12 months. Since P 10,000.00 is the minimum amount required for cash loans, I lend the P 5,000.00 to my kuya while the other half was given to my younger brother. Here's the details:
Loss/Gain Comparison in my eastwest card P 5,000 insta-cash loan
For Scenario B:
For my younger brother he needed atleast P 35,000.00 to settle his credits and to back up the medical expenses of his wife. So I gave him the other half of the cash loan (P 5,000.00), close my time deposit account (P 25,000.00) and withdraw (P 5,000.00) on my savings account. Here's the details:
Loss/Gain Comparison in my eastwest card P 5,000 insta-cash loan
Plus I sacrificed all my emergency funds (both time deposit & savings in Wealthbank)  here to save our dividend shares in SLAI account from being forfeited. Anyway, the interest rate I got from my time deposit account is only P 74.00 compared to the P 14,600.00 that will be lost to us.

Conclusion:
Though things didn't work out the way I planned them to be, looking back on my decision I think it's a win/win solution. I was able to help my kuya earn P 2,000.00 & continue his sideline/business while he is still paying for the monthly installment to my credit card.

As to my younger brother, I've  given back all his money from that SLAI account plus his whole dividend share last July 1 while I'm still paying the monthly installment in my eastwest mastercard, plus I got my whole dividend shares too :).

It's really an advantage to have an emergency fund to help us out in these unexpected turnarounds & credit card may not be bad at all. Like I said in my previous post - credit cards can either bring you down or back you up financially. You just have to know when to use it properly.


Happy Weekend!





Thursday, September 11, 2014

Admitting my Weakness

Back in college, I got a grade of 2.75 in English.While my grades ranges from 1.5 to 2.5 in algebra, geometry, trigonometry, chemistry, differential calculus & integral calculus subjects, my English subject was on the brick of failing back then. I hate essay writings, technical reports & always seeing red inks on my test papers on my english subject. Luckily, I still got a grade of 2.75 (muntik ng bumagsak, heheh).

Well this blog is not about my college grades. It's about openly admitting my weakness so I can freely express some of my views & opinions on my next blogs.

My officemate saw me writing my blog last week --- He said "wow, si miss grace - blogger na."
I smiled @ him, then he said again --- "kailangan magaling ka sa english dyan kundi pagtatawanan ka dyan,....... pero pagkakakitaan mo yan". Hmmmm, still wondering about his words, I answered -- "okay lang, maiintindihan naman nila siguro yung mga sinusulat ko, iba ibang nasyon nga ang ka-chat ko minsan mas barok pa ang english sa akin naintindihan ko pa, di hamak na mas matino ang english nating mga Pilipino, di ba?."

My blog is all about my journey to financial freedom. And though numbers & words are equally important on finance I focus more on the end result. I may not be good in delivering a story and my grammar may not be perfect but I'm pretty sure that my calculator is 100% accurate......... in addition, subtraction, multiplication and division. The only problem is the result, the moment I hit the equals (=) sign - positive or negative result, I have to figure out my next move.

Savings can be as easy as a,b,c.
While investing can be as simple as 1,2,3 if done properly. 
But when problem solving like algebra, geometry, trigonometry strikes in our lives.
Can we still simplify the formula to get the answer 1,4,3?
Or when complicated formulas in differential calculus & integral calculus comes in.
Can we still calculate and manage the risks in investing?

I only invented those words while writing this blog.
I am still on the elementary level of investing.
Malayo layo pa ang tatahakin kong landas at marami pa kong madadaanang pagsubok.
I am nearing 40 & hopefully God will continue to guide me on my financial journey.


Have a Blessed Weekend Guys!!!!!


P.S.----My next blogs will be more on Taglish format, medyo nosebleed na ako tlaga at malapit ng maubusan ng english vocabulary words ang utak ko. Mahirap din naman kasi ang tagalog masyadong mahaba, kaya pasensya na po.

Wednesday, September 10, 2014

3rd top up on FAMI SALBF Account

Last Sunday I finished doing this:
PLUS
Last August I received & set aside this:
PLUS
My little savings:
SUM IT ALL UP
The Result:
Last Monday I went to Metrobank to deposit my 3rd top-up on FAMI :)

Thank God I was able to buy  additional shares on my FAMI Save & Learn Balanced Fund
 
Just in the mood of sharing again!!!!
Happy Weekdays!!!!



Tuesday, September 9, 2014

My midyear fifth goal - 2nd shot done


This is my fifth midyear goal: A cervical hpv vaccine. I included it in my goal list because this will require a relatively bigger cash amount from my savings account. It has a previous price of
P 3,800.00 per shot of Gardasil (quadrivalent hpv recombinant vaccine) but since we attended a seminar about it, it was discounted to P 3,000.00 per shot P 3,000.00 x 3 shots = P 9,000.00 - this is already a large amount of money for me but my ob says this is needed esp. for us girls.
So last Sunday, I went to Wealthbank to withdraw the P 3,000.00 on my savings account.
my savings account @ wealthbank
Then yesterday I went directly to Philcare to have the second shot of cervical vaccine.While waiting for the OB to arrive I decided to use my consult to the max card & have my ear checked @ ENT.
I remember I sometimes experience a little few seconds of pain in my ears then it disappears. So after checking the doctor said, both your eardrums are ok, its normal that we experience a little stinging pain once in while, but are you cleaning or using cotton buds everyday? I answered yes, hmmm,... why? Then he answered -- because the skin inside your ears are a bit thickened ( medyo makapal daw). Still looking puzzled by his answer, he explained again " subukan mo kayang kayasin ng kayasin yung balat mo sa kamay kundi kumapal yan", ok doc got it. He said, it is not advisable to clean our ears with cotton buds everyday because it has the thinnest skin in our body & natural oil inside disappears. I see, lesson learned today - "not advisable to clean ears everyday".

After an hour the doctor finally arrived , then she gave me the 2nd shot of HPV Vaccine with a little conversation of course.
Then afterwards, I went straight to our office for work......

My savings are now down to P 300.00 again but I'm done my fifth goal now I can concentrate on savings again!!!!!! Yeheey!!!!


Have a blessed day guys!!!!






Friday, September 5, 2014

Dealing with Reality


I'm a minimum wage earner it's obviously written in the heading of my blog. So many times I tried to search a financial blog who has the same situation like me but I have not found any. I tried to search for a ratio as to how many filipinos are earning a minimum wage, a head of a family or a breadwinner unfortunately the result is none.

I belong to a class C/D society where a hand to mouth lifestyle is sometimes our way of living. Reality check, if your a minimum wage earner - your a breadwinner, the head of a family, renting a house or has a kids going to school - P 10,000 to P 20,000.00 is not enough (kulang na kulang). Most of my colleagues here who's earning 15,000 to 25,000.00 salary bracket still making cash advances at work for house rents & tuition fees, how much more for a minimum wage earner like me. The good thing is that I am not renting a house  anymore, I only deal with the basic household stuffs & bills with the help of some family member of course.

"I am now entering another chapter of my life where I am more worried with the health of my parents, more worried that my salary is not enough since inflation continue to rise up, more worried that my brothers are still dependent and more worried that my brother who's been a big help to our family financially now has a family of his own." this was my mindset last year.

Good thing I discover blogging - this activity really helps me a lot - It's keeps me more focused, more motivated, & constantly seeking for self improvements. I cannot really follow some ideal financial tips like the 70-20-10, the 50-30-20 rule or as what Algamish told Arkad---10% part of what you earn is yours to keep, the pay yourself principle in " The Richest Man in Babylon". Maybe for some it works, but not for me I'm just being realistic. But I do track my expenses, save as much as I can, keep reading books  & continue to follow the goals that I have set. I'm more optimistic now in dealing with my problems - not to be caught on strikes when problem arises.

I've once read an advice " Let money work for you". I'm gonna be dealing with it on a different level & perspective since I dont have extra money in my hand -- not on savings, not on mutual funds & certainly not on stock market ( because I still dont understand how to it works--still confusing to me) but on credit cards. As what my brother told me last January - "Ate, puede mo yang pagkitaan". Hmmm, lets see......

But for now, my next goal -is the 2nd shot of cervical vaccine. I'm gonna be withdrawing P 3,000.00 on my savings account. Afterwards, I'll be focusing on my "money challenge" this September.

Saturday naman, I'm a bit lazy & tired today because of bulk jobs we had yesterday. I went home at around 12 midnight. Good thing I've got a few calls & email jobs today.......

Just in the mood of sharing some thoughts today while still at work!
Happy Weekend Guys!
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