Saturday, October 17, 2015

My One Peso Spending Rule

          When it comes to spending I have my own rule, my 1000 peso spending rule and my one peso spending rule that I will be posting today. In my 1000 peso spending, I only spend it on things that has reason & value. My second rule here is - I think of thousand reasons before buying so I usually end up not buying at all or buying the cheaper one instead.

          My one peso rule today will justify my reasons why I usually end up buying the cheaper ones. In one of the topic in our economics subject I had last week, the principle of least cost states that not all product with the lesser cost is economically wise to buy. On the other hand, the word "utilities" was also discussed to us and this will justify my one peso rule. Utilities means state or quality of being useful or the quality of goods & services that satisfy. So as long as the product satisfy my needs and its purpose then its okay to buy cheaper products. Sorry, this is a bit long & boring topic, just want to justify my spending actions.

          I'm not promoting that we should always buy the cheaper products but for people like me who belong to the class C society had no choice but to buy what we can only afford. "Nagpapakatotoo lang po ako, gumagastos ako ayon sa aking pinansyal na kakayanan at hindi ayon sa dinidikta ng lipunan." I had once read an article in Daily Bread before that says, "I asked for riches that I might be happy, I was given poverty that I might be wise." and because of this words I am proud to say that I have become wiser in buying products. I don't own a Nike or Adidas shoes but I'm contented with the P250 shoes I bought at C5 bangketa. I wanted to have a Victoria Secret cologne but I'm happier that I have a buy one take one Cherub Disney cologne that I bought at P 52.75 only. I don't have Levis pants or other branded clothes but I'm happier that I am wearing a comfortable P269.75 maong pants I bought at Landmark. I don't own an IPhone or Samsung cellphones, instead I have two Myphone brand, one is more than 5years & the other one was more than 2 years already. My eyes were usually caught by the Ninewest bags displayed at Glorietta mall before but I'm proud to say that it has no effect on me now because I have a Melody bag I bought at P 280.00 more than five years ago at Market Market and I'm still using it today, "kaya pala sabi ni aling tindera noon - wag mo ng tawaran yan miss matibay ang Melody bag" and I have proven that it's true, " aparador kaya ang bigat ng bag ko, heheh."
          Last month, I proudly announced again that I bought a P100 watch at Market Market tiangge store. My brother smiled, "ayos yan adidas pa tatak ha, he was teasing me actually, heheh." My casio watch stopped last August so I borrowed an old swatch watch from my mother and again it stopped after a month. Both batteries needs to be replaced but I have no time to go to the watch shop so when I pass through the tiangge stores I bought a new watch at P100 only. I bought it last September 12 and it is still working as of today. My mother said, "hay naku, tyempuhan lang kapag nakakuha ka ng palpak isang araw lang yan hihinto na" but luckily I am still wearing it today and it's been already one month & six days since I bought it plus it has an extra battery, hope it works too. I'm marking the dates again September 12, 2015 and it must last until December 10, 2015 - the 100th day from the day I bought it. That's where my one peso stands, just as long as it satisfies my needs & it's purpose, one peso per day is not bad at all.

         The casio watch I bought last December 2013 only lasted 1 year & eight months and that's equivalent to 608 days. Divide it to P 1,750 (my casio watch price) and it's value is P 2.88 per day. Though it's battery can replaced and it can be use again afterwards, but given a situation where time is valuable to me, I needed a temporary solution & that's my first reason.

My added reason here were situational and I call it "let it go situations" and the advantage of owning a cheaper products.

1. Nadukutan na ba kayo? I hope not but if yes, how does it feel if your iPhone or Samsung was pickpocketed, "ang hirap mag let go di ba, paulit ulit na iisipin mo hanggang makabili ka ng bago, heheh? I've known someone who've experienced that kind of situation, "iyak talaga sya", kung mura lang cp, yung sim & contacts lang ang panghihinayangan mo, di ba?

2. Nahold up na ba kayo? I hope not again but if yes, how does it feel again? Others will say, "cellphone lang yan ibigay mo na kesa buhay mo ang kuhanin sa yo," Again, if your cellphone is a bit expensive, "ang hirap mag-let go di ba? My bestfriend once told us a story an about an incident where she gave her cp without resistance and we were all laughing as she narrated a story, "Na-hold up ako noon, hiningi ang cp at wallet ko, e umuulan, manong pakihawak tong payong ko kukunin ko lang cp at wallet ko sa bag. Pagkatapos ko ibigay ang cp at wallet ko, manong pahingi naman ng pamasahe lang, hindi ako makakauwi nito e, binigyan naman sya." As she was telling the story, we asked her "ano ba yung cp mo? Yung malaking Motorola, binigay ko na rin para mapalitan na yung cp ko pero ang kapal ng mukha nung holdaper tinext ko nag reply agad gamit pa rin yung sim ko". Move on agad sya di ba, heheh. Ang sakit ng tyan namin katatawa talaga."

3. Nabagsak na ba ang cp nyo? If you did, how does it feel? "Hindi ako maingat sa gamit, ilang beses ng nabagsak ang cp ko, good thing it's only a myphone brand and both my cp were still okay, but if it is an IPhone brand "iyak na ko nun, repair pa lang ang napakamahal na." Well, it happened to my brother few years ago.

4. Baha? My brother once told, "Ate, matibay kasi tong brand ng sapatos na to & isa to sa latest model, mura na to naka sale na. Okay ka lang 5k yan, sige ilusong natin sa baha yan, sa akin kahit masira oks lang 250 lang - P5k vs P250 kong sapatos, payag ka? Syempre hindi, 5k ito e. Walang maganda at mahal na sapatos sa bahang kalye. Again, its okay to buy cheap products just as long as it serves its purpose.

5. Nanakaw? My brother once had a pair of havaianas slippers. "Ate, matibay kaya tong tsinelas ko, one year na kaya to. Sa kasamaang palad, nanakaw sa tapat ng bahay namin, bad trip yung kapatid ko. Sosyal na ang magnanakaw ngayon alam nila ang branded products. So I told him, ako 20 pesos lang slippers ko umabot rin ng one year pero hindi nanakaw. Dumaan yung pulubi, inabutan ko ng 5 pesos, nakita yung tsinelas ko, hiningi binigay ko. Nagpaalam na ng maayos sa akin, nakatulong pa ako, di ba?

6. Matibay daw? So he bought another havaianas, after two years napigtas naman pero hindi napudpod. So I told him, ako 50 pesos lang tsinelas ko umabot rin ng two years pero hindi napigtas napudpod nga lang." Seriously, there are brands that are not so expensive but has the same durability. I have a carribean slippers I bought 2 years ago at P 169.75 only, it's my favorite slippers & up to this day I still use it whenever I go to mall or even just to make errands at the store.

7. Muntik mawala? My officemate once told a story she was laughing as she narrated, "Nahulog yung isang havaianas ko sa rails ng MRT tulakan kasi, hindi ko makuha kasi nasa baba at baka dumating ulit yung tren, siksikan pa naman. Kaya hinintay kong mag-alisan ang mga tao bago ko tumawag ng guard para kunin, hayun tuloy na-late ako. Kung di lang yun mahal ang havaianas ko iniwan ko na yun. Again, its hard to let go of things that has an expensive value, right? That's the reason why I prefer buying the cheaper brands.

8. Madaling Magsawa? I have an Ipod shuffle bought almost ten years ago & up to now it is still working. Apple brand kaya yun kaya hindi nasisira pero almost 6k din ang bili ko nun kaso naka stock na lang sa cabinet at hindi ko nagagamit ngayon. I also once had a bandolino shoes, ang tibay talaga kaso pinagsawaan ko na rin hanggang pinamigay na lang :) Financially wise? Yes it is wise to buy those produts because of its durability. But for how long you plan to use a certain product, that is the question.

Whether its cheap or expensive just as long as it serves it purpose price won't matter. But still I only spend according to necessity & my financial capacity not according to the society, this is my principle in spending.

How about you? What's your principle in spending?

Just sharing again!
Be safe and Have a blessed weekend!!!!

"Blame Typhoon Lando for this long post, he is the reason why I'm in the mood of writing, love to stay inside my room with this kind of weather :)"

Sunday, October 11, 2015

My Financial Goals Update

         Yes I am studying but that doesn't mean that I have taken for granted all the financial goals I have set this year. My goals are still posted on my wall and everyday I look at them so that I will be reminded of what I need to accomplish before 2015 ends.

          Last week, I received my midyear 13th month pay of P 6,156.00, this was suppose to be given last June but unfortunately our company is in financial crisis. Good thing they managed to collect a suffice amount for the company's expenses.They also gave us our partial salary for September 30 payroll and hopefully it will be completed next week. Yesterday, after our Saturday class in TUP I headed directly to Wealthbank to deposit 5k to my savings account and fill up a form authorizing the bank to automatically transfer 5k on my special savings account next week. I also deposited P 1,800 on my Wealthbank atm account so I can mark my #2 goal on my list.

          It was only last week that I was able to understand the whole context of my BPI Philam Life insurance. First, it has a cash value that continuously increases as years go by. Second, it is a whole life insurance so that means I am insured until I'm 100 years old, yeheey.........."abot pa kaya ako dun?". And lastly, I was also informed that I already have an almost 20k cash value in it, another "yeheey". Should I decide to terminate my insurance, I can get the cash value of my policy but then I have no plans of terminating it now. What's really good about it is that my cash value continually increases so if at the age of 60 or 70 years old I plan to terminate my policy, its cash value will be given back to me. I estimated that it will be more twice of the amount I have invested in it, hope I'm right with my calculation, "basta lalampas yun sa nahulog ko, panalo na ko nun". I have until February 2017 to finish it's eight year payment period.

          Speaking of cash value I also added it in my record, so as of today I can proudly say that I already reached my 200k target, that's the reason why my #9 goal is marked on my list. I've also made some revisions too that's the reason why there are some bold markings in it. My initial plan was to have a total 20k on my special savings account & additional 5k on my Soldivo fund. But I changed my plan, I decided to redirect my focus on my FAMI & Philequity mutual fund. I plan to have atleast 30k total amount invested on FAMI and on Philequity as well before the year ends. And if I still have some extra savings I will try to reach that 20k goal in my special savings account this December.

       Just two more goals to finish this year---reach 20k on wealthbank and 30k on FAMI & 30k on PEMI.!!!!!!! :)

Just sharing again!
Have a blessed weekend guys!
God bless.
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