Tuesday, January 23, 2018

"DIARY OF A KURIPOT MISIS"


WARNING:

Read at your own risk!!!  This post is filled with stories of extreme ka-kuriputan.  If you like to learn a few tips on money saving, that would eventually... in the long run... makes you rich... then read on.

But if you are the type of person that thinks, saving for the future and being kuripot is pointless... then you can just read my other articles on gardening, lifestyle, travel, etc. NOT THIS ONE  :)


the importance of saving money

Seriously, I never thought that one day, I will include a finance article in this humble blog of mine.  Because all along... I thought that saving is part of every person's mindset. But when I learned that not everyone has the habit of saving, I was surprised. And I considered myself so blessed by the fact, I learn about saving early on. That is why -- I would like to share a series of articles on saving. Hoping that you, my dear readers... will learn something from it.  

Saving for 2018 -- let it be our main goal mga Ka-Wise Momsies and Popsies!

MY "KURIPOT" HISTORY:

I am money savvy... I got it from my mom.  She was a simple woman.  She raised me single-handedly, never went out of her way to travel, just stayed home.  Her earnings came, from a 4-door apartment, given to her by her mom (who by the way, was money savvy too). 

These are some of the things she taught me - that contributed to my financial literacy:

1.  Kailangan mag-ipon sa bangko.  She taught me that putting money in the bank, will        stop me from spending it.  Savings from my school allowance, Christmas aguinaldo,        birthday pakimkim... it all went straight to my Happy Savers Club account.  I chose that,      because the passbook was cute and there were free stationery set hehehe!

2.  In highschool, she said, savings are not enough. Must be wise to learn more about  time deposits.  So all my savings from the Happy Savers Club, were transferred to a more interest driven time deposit.  

3.  Malling, watching movies, going on excursions, shopping were all irrelevant. What's important, I had savings for the rainy day.

My mom with my then 4-month old daughter wearing
"polka dots" daster for New Year because it is considered lucky :)

Back then, I understood the first two.  But the third one, I didn't understand. Why should I deprive myself of things my classmates were enjoying. Specially when I had a barkada that was given 5000 pesos for shopping in 1987-88.  Still, she didn't give me money for my "Fun-Fund".  I had to be creative.  

I wanted extra funds, so I decided to sell something. I observed from our school canteen, that Knick-Knacks are selling like hotcakes. So I woke up everyday for one month, at 5:30 am to buy Knick-Knacks at the local market. I sell them for P2.50 (the canteen sell if for P3.50). I even had a promo that if you buy six, I give a discount of P1.00 hahaha!  (knick knack photo)

And guess what... I saved P500 from this little business adventure. But did I use it for my "Fun-Fund" -- of course not, I placed my earning in the bank.  Why?  Waking up very early was a big sacrifice. Selling them to my classmates... admittedly, was somewhat humiliating for a teener.  I won't just spend the money on something unimportant. Because I worked hard for it, saving the money, and making it grow in the bank -- gave me a sense of fulfillment.  It still has the same effect up to this very day.


My mother taught me, may halaga ang barya. Wala kang diyes, walang piso. Up to this day, I still save up on coins, and use it to pay the Meralco bill
(na laging may butal)


Another true story:  Game and Watch were so popular when I was growing up. I wanted one. It took my mom... months before she finally gave in. She told me, she would save up for it. She asked me several times if I really needed it. I got it because I finished grade 6 -- with a First Honorable Mention Award.  She gave me the gadget, as a reward.  

To this very day -- it made sense.  Given as a reward, the gadget didn't seem to be a luxury.  It became a priceless gift for something I worked hard for.  And she showed me how she was able to afford it.  She showed me the 20-peso bill she gets from the apartment rental, so it took her several months before she bought the gadget. Another valuable money lesson!  And a lesson on -- delayed gratification!


WHAT I THINK OF MY MOM'S SAVING STYLE:

In its crudest form... my mom was indeed a money genius. The only thing that she failed to do, money-wise... is to invest. She was not a risk taker. She was happy with her savings and TDs.  She could have invested in stocks, UITF, even real estate.  

This is one thing that I am trying now -- how to be lessen my fear in investing. Saving, I have no problem about that. Investing is more of a challenge for me.


"MY IPON DIARY"

Then opportunity came, when bloggers were invited to sign up for Coach Chinkee Tan's #IponPaMore seminar and launch of his newest book -- My Ipon Diary.  



I got the invite, but wasn't feeling well.  Pero sabi nga... kung gusto may paraan.  I asked for a livestream access, and it was granted. I joined the seminar via livestreaming and learned a lot from it.  

LEARNINGS:

I don't want to appear mayabang, but while I am listening to Coach Chinkee, I thought -- grabe, pagdating sa pera, ito ang male version ko!  Most of the things that he mentioned in the seminar, I am already practicing. Swak na Swak ang mga paniniwala namin pagdating sa ipon at pera.  Amazing!  

But I have to admit, he said something that made me sad.... there are several things that you actually DON'T need, and giving them up, would mean savings!  Like yosi, gym membership, cable, eating out often.




Expensive coffee... shopping for shoes, make-up, clothes... Yosi... Barkada gimik... cable... gym membership!  If you are willing to give up these things, then you will be able to save. Huhuhu.... eh lahat yan na-give up ko na. Lahat yan di ko binibili?  So I don't have any more window to save  :(

And it only goes to show... how extremely kuripot  I am. I shop once a year, right after Christmas, when everything is on sale. I rather drink 3-in-1 coffee, put ice and whipped cream than buy from Starbucks. I don't smoke, I don't go out for night outs. I don't even ride the taxi, grab or uber.  I am the trike-jeep-bus type of a person. 

Realizing this... ouch!  This could mean I am saving a lot, and by now, I would have been a millionaire, right?  But nope!  Far from it.  Eh pano na lang yung hindi pa marunong mag save?

As per Coach Chinkee... if you already did everything to save, and yet.... kulang pa rin... ang solusyon... #RaketPaMore.  Which I intend to do more this 2018.


WHAT COACH CHINKEE AND MRS.WISE PRACTICE:

We agree on these things... and I swear, I practice this my entire life!

>>> Pay your bills on time. Especially credit card bills. Kasi masakit sa bulsa ang interest mga momshies.

>>> If you cannot afford to buy something in cash, then it simply means, you can't afford it. Period. Kung di mo afford, wag i credit card, wag ipangutang. Save and wait for the right time that you can buy it in cash.

>>> You are not a bad parent because you CANNOT provide your teens their WANTS. Walang teener ang namatay at nangisay dahil wala silang gadget.  (This will be the subject of another article)

>>> Coach Chinkee's parents taught him this formula in saving:  50% of your income goes to savings, 25% goes to business, and the remaining 25% is for your expense. I immediately computed how much I save monthly, and voila.... same percentages!  Ganito pala ako ka-adik mag save.  Coach Chinkee mentioned, that this formula is not for everyone. Its hard. 

>>> There is no shortcut in saving. Huwag pumatol sa mga mabilisang paraan ng pagyaman.  My belief, in any financial endeavor that I want to participate, I need to do a lot of research and learn about it. No short cut. Never.

>>> The more I save, the more I am fulfilled. Eto rin ang nararamdaman ko everytime I save. Parehong pareho.

MY FINANCIAL GOAL FOR 2018

>>> Find a suitable investment for me.  Hello UITF, mutual funds and hopefully stocks.
>>> Seriously start saving for a TRAVEL FUND for my future around-the-world dream
>>> Raket pa more!