Practical Tips for OFWs – Ways to Save More Money Everyday

ways to save money everyday

Practical Money Saving Tips for Overseas Filipino Workers

There are practical ways to save money everyday.

Nowadays, practicality trumps luxuries. We have to realize that even if we do have a high-paying job, we cannot have it until the end of time as our productive years would dwindle and we might not be able to prepare for it properly. What is disturbing, is not a lot of people realize this – and some just do not seem to care.

Practical Tips for Overseas Filipino Workers – Ways to Save More Money Everyday

Overseas Filipino Workers are among the most distinguished classes in Philippine society and some of them still really do not get the idea that they have to save for a better future. We cannot have that because we have to live as best as we can – and we have to be able to educate them to become frugal and practical for their future.

Here are some practical tips for OFWs to be able to save some money so that they can secure their family’s futures. Remember, it may be difficult at first, but when you get to start it, it would suddenly become automatic and integral to your routines.

Set your priorities.

Before you do anything – make sure you know for whom and for what you are doing things for! Make sure you know that you are doing this for your family – you must always remember that! It’s all about the attitude and remembering for whom it is you’re toiling for away from your country! As one of the commercials so truthfully said, “Para kanino ka ba gumigising?”

Never follow the bandwagon.

Lots of people follow the bandwagon especially when it comes to gadgets and other cool stuff. You really do not have to follow them – you have to be practical – you do not need to change phones every six months. You have to be practical – yes, I did say it again! – and do not bend to the temptation. Yes, it may look out of place – but you have to use it until it stops working! It’s all about the savings and not the prestige!

Plan for your meals and purchases.

Yes, you yearn for some Pinoy style cooking every once in a while but it does not mean that you wouldn’t budget for your food and for your purchases! You have to be able to shop on a budget and if you can buy in bulk, it would be better because it would mean more discounts for you! And if you can even use coupons to save even more, why, do it because it’s going to lessen the money that comes out of your wallet when you shop!

Don’t use credit cards left and right.

Credit cards are good alright – but they also are a temptation that you do not have to use almost every time! Credit cards carry a huge interest load and any debts have to be paid up if you do not want them to accumulate and saddle you up for the long time. While they may be convenient you also have to use them judiciously. Use them but never be too dependent on them. You do not want credit card debt to rule your life!

Don’t think you are depriving yourself.

It’s all about the attitude. You should never think you are depriving yourself NOW – because you are saving for the LATER – for the FUTURE – your future and your family’s future. So get your head on straight and be wise about your spending habits!

Find yourself a side business.

Dare we say it again – yes! BE PRACTICAL! If you can find another job – say as a freelancer or if you can sell stuff online, do so because it can add to your savings stash in a hurry. Nowadays, it is better if you have several income streams that could add to your money – it is after all a way to improve your financial standing.

Get advice from financial experts.

Financial advisers could and would help you to get your finances in order – you would be given suggestions as to how to handle your money – where to invest them to get the highest returns and how to make them grow more and more. So, if you find a good financial adviser, make sure to get his services so you can extricate yourself from the wallows of poverty.

OFWs have to realize that their productive years are limited and their incomes are not set for life. They have to realize that even if they dock huge paydays – they have to be able to budget their money so they would have a sizable nest egg that they can utilize for their later years. It is also wise to be able to invest in instruments that would be giving them huge returns for their future.

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How to Save Money on a Low Budget

how to save money on a low budget

Practical tips – how to save money on a low budget

Nowadays, it seems our money and our salaries are not amounting too much so a lot of people are asking how they can save money on a low income level. It appears to be a challenge because it poses a logistical dilemma. But as they say, everything can be overcome with proper planning and great execution.

How to Save Money on a Low Budget

Automate your savings through the bank service option.

If you really want to be able to save for your future even on a tight budget, you can approach your bank and have them automatically deduct a specific amount from your paycheck every time it comes. You can have them send the money into another account that would be used for investments like a time-deposit account or a regular savings account that you wouldn’t be able to access.

Budget everything to avoid being into debt.

A very good key to saving is to engage yourself in smart budgeting practices. Make sure that everything that you would receive during your pay days would be budgeted to the last centavo. It is not only a good practice, it would also condition your mind to be as frugal as possible. You would have to be able to limit your expenditures based on the monthly allocations you have set. Any excess in the allocation should be placed into the savings account to further add to the stash you are already building. And if you do carry credit card debts, make sure to prioritize the repayment schemes as well to lessen the burden somewhat.

Be wise in shopping for your groceries.

It is pretty tempting to just wander the grocery aisles – and grocers know this as well. Which is why they place interesting items on your line of sight – a certain tendency to make you buy things. Which is the reason why it is quite important to shop for your groceries with a set list and a set budget. You have to be able to pick out the items on your list quickly enough and head straight to the cashier to prevent any hiccups – trust me, it would work. Also, left-overs can also be used to make great meals – so if you do have left-overs from your meals, make sure to rehash them afterwards. You’re not only saving; you’re being practical as well. And if you can buy in bulk, then you should.

Keep your housing costs low.

This tip goes for both homeowners and for renters of properties. Make sure to keep an eye on your utility bills – they are among the most draining sectors in your expenditures – so keeping track of them would have to among your priorities. Make sure that the appliances you are currently using are working well – so periodic maintenance and checkups are a must. And if you can sublet a room – it would also help you to reduce the cost for your mortgage or your house payments. Every little bit counts.

Avoid unnecessary expenditures.

You do not necessarily have to deprive yourself of some of the better things in life – or the little perks for a job well done. You just have to limit or schedule the night outs or the dinner dates and you have to keep in mind the budget because you still have to stick to it. Remember, what is important is the time together and the circumstances mean little in the long run.

We know that there are still other strategies which would help you to save money on a tight budget. You can be as creative as possible – you can do creative accounting if need be or creative reallocations – but make sure that you should still stick to the budget. The best of luck to you and may you find success in making do with what you have!

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Importance of Money in Our Daily Life

importance of money in our daily life

Do you need money? What is the role of money in our life?

What really is the importance of money in our daily life? Money, money, money – it makes the world go round – and can actually be the root of all evil in this world. However, it can also be a very good way to spread happiness to those who have nothing – it can be a very good thing to have when there are good intentions that need to be funded because it can guarantee the delivery of such supplies to fill the need.

As they always say, everything in this world has to have two sides – it is just the way of the world. Everything can be used for good and consequently it also has some bad things when it is exploited. Money, being one of the most fundamental concepts in this economics driven world, is not exempt from such things.

Importance of Money in Our Daily Life

Here are seven benefits of having enough money in our lives. Remember though, that while money is needed – it doesn’t mean that we should always be after it. It only means that we should be able to strive in such a manner that we would have enough to live by and help other people who need our assistance.

You can take care of yourself much better.

Without nothing much to worry about because you have money on your pockets, you can absolutely take care of yourself much better. You can have less stress and indulge in activities that would pamper you and keep you fresh. You can indulge in spas, fitness classes and other things that would help you become healthier and much better. It may sound a bit materialistic, but being attractive can always have its merits – it may translate to better opportunities to learn, to earn and to enjoy life!

You can become more relaxed.

With money to spare – you wouldn’t need to worry where the next meal would come from or even if you would be eating at the right time. Less things to worry about – makes you feel much more relaxed – less stressed and you would be much better because of it. You can go to places where you want to go – participate and listen to your favorite bands’ concerts and eat the best food you want.

You can travel and be immersed in various experiences much more.

You can experience different cultures – you can immerse yourself in other places and live one-of-a-kind moments which would be beneficial for your overall health. You can be a traveler – and learn about the different customs and traditions of different places. As they say, traveling is the only thing you pay for that gives you something back in return.

You can be healthier.

With a lot of lifestyle diseases plaguing society nowadays, it is important that you would be able to secure the best medical healthcare service and vitamins and other supplements for your family. Having access to the best hospitals and procedures would help you become physically better – and you and your family would be all the better for it.

You can help others much more.

Making more money will not always be the end all and be all – giving some of it away to help others in need would be a good thing to make you feel better. You can fund grants; you can give associations the seed money – you can even start a foundation to help the needy. While money can never buy complete happiness – it can help you to feel better about what you do for others. Be generous – be gracious and it will come back to you a hundredfold.

You have less worries about meeting the basic necessities.

Because you have money in your pockets – you can have as much good food as you need – as much clothing that you can have and even have a better chance at life with better educational services. Having money gives you better access to these things and more – so make sure you have some money in your pocket and in the bank to keep your family comfortable.

You can have a healthier and better life.

Money would help you live longer – either because of healthier choices or because you have access to better healthcare or have a better lifestyle. Research shows that those who have more money have longer life expectancies. So while it is not the end all and be all – having some money would be good if you really want to live longer.

So, do you still wonder about how important money is in our daily lives? We do need to have some cash to burn because the quality of our life becomes better with some money on the side. Again, I would like to remind you that money is not the central matter in our lives – but it does help to smoothen out the rough patches we are going to experience.

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