Ever wonder why no matter how much you save sometime later you end up spending them and having zero savings again? It does not really rely on how much you actually save but rather the reason why you are saving…
The 52 week money saving challenge was popularized in the Philippines by Rhea Suzette Mocorro of kuripotpinay.com which in turn she got from lifeasyouliveit.com. The origin of this challenge can be traced back to 2013 by a woman named Kassondra Perry-Moreland.
She wondered the following on a New Year’s eve why after working 23 years she still has no savings. On new years day she got an answer after seeing a 52 week outline for 2013. The aim is to save $1.00 and increasing that amount per week so that it would be $1.00 on the first week, $2.00 on the second week and so on.
1. To establish a saving habit
2. Motivation – stick whatever you want to buy when you finish the challenge
3. Discipline – sticking to this would not only establish a habit but also a discipline to instead of buying something unnecessary no matter insignificant why not drop it in your
1. printing the 52 week challenge tally sheet and cross of the amount you drop on a particular week so as not to force you to save the big amount on some not so rich months like
2. Make it monthly challenge – starting with a bigger amount
3. reverse saving – start with the bigger amount
4. Longer version of 104 week challenge
5. Opening a deposit account with good interests so that what you save also gets interest as extra income
6. Group 52 week money challenge – set an amount that beach should contribute so that your members will need to be accountable and you help each other by being their
This is just my personal opinion.
I have observed that the PSE has been in the 7000 to 7500 zone for the longest time when we were thinking it would soar past 8000 by this time. We’ll lots of things change but in the Philippines but still there are factors beyond us. Though still if you will ask me if it is still good to enter the stock market, my answer is it is always good time to enter the market when prices are down. Entering it at this times means you are at least getting it at a bargain. But for the likes of me who are holding onto our shares, we are already “IPIT” so to speak.
Please watch the video and please fell free to share your thoughts, your opinions, and your suggestions. Again this is just my personal opinion and you mighht have a better one so let’s share it to our kababayans.
I am back with my blog through VLOG though(please support my YouTube channel Investing in Philippines and help me spread financial literacy in the Philippines)
So to continue my taxes series, I created VLOG Taxes Episode 5 which is all about of course me getting back to blogging and exploring VLOGGING to reach more audience and about the taxpayer’s citizenship and how it affects the taxpayer’s personal and additional exemptions when computing the income tax special now that the deadline to file annual income tax return and pay any tax still due for those who are not covered by substituted filing.
Are you a BIR accredited CPA? Appreciate if you can pitch in to this topic(also would like to ask your help how I can get my PRC_BOA and BIR Accreditation faster so that I can help more people in their tax and accounting matters).
Thank you very much and see you again in the next episode.
The happy season is just about to end and here comes the new year. With that there are some ways you can earn with whatever you got as a gift. Always remember the saying that “you collect memories and not…
“When was the last time you traveled abroad?” the immigration officer at the NAIA Terminal 3 asks me. I told her it was about 3 years ago. Yep, it has that been long since I went out of the country.…