Spending Habit

Spending Habit

Hello everyone! 

PisongPinoy is once again here to give another article for all the Filipinos. 

As what the title said, how is your spending habit? If your income is only enough to support your needs until the next pay check, you must be alarmed. You have to be wise and organize when it comes to spending. Save some portion of your income for your future. Most of the people think only for tomorrow but they have always forget the future, probably 10 years from now or retirement period.

As an ordinary citizen, Jose is a simple man with a huge dream, to be financially free at the time of his retirement. The following are some of the technique on how to monitor your spending habit.

1. Record your everyday expense using your mobile phone, computer or ledger. Make sure that every single expense was recorded, for you to have an accurate record.

Record your expense

2. Make a balance sheet. Compare your monthly income against your monthly expense. If you found out that you are spending all your income and ended up with borrowing money, this means you are in big trouble.

Balance your porfolio

3. Analyze which area you can adjust to minimize the expense. Avoid buying unnecessary things. If you can control your electricity bill or water bill this may help.

Analyze your expense

4. Spend your money to some financial instrument that will generate income. There is a lot of financial instrument that surely will give you gains like investing in stock market, bond, time deposits, money market and business. Most of the financial adviser will tell you that the best spending is “Pay yourself first”.

There is no harm of spending, life is too short control you expense or ten years from now you will be bankrupt.

Financial Instruments

Hanggang sa muli ito ang kuwento ni Jose.

Pinoy ugaliing mag-ipok. Panahon na para umasenso ang pinas,

sabay sabay nating sinupin ang Pisong Pinoy.

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Author: CKsulat

All Right Reserved

Copy of 2014

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