Sunday, December 1, 2013

“Hot (broke) Messes”

Hey, what’s up you guys? Wow, it’s really been a while since I last written something. Anything new? Nothing much except that I’ve been selling some of my books already – online. And after reading “Hot (broke) Messes” by Nancy Trejos, I just become very determined to make my finances organized.

No, I’m not broke. I’m a mediocre. I’m 30 and I can say that I don’t have much savings a 30-year old should have by now. I can justify that, though: out-of-the-country leisure trips; domestic backpacking trips; giving money to relatives in need; dine-outs; farm investment; a few businesses investment, which I’m taking lay-low for now for some reasons; books shopping; etc.

So, how will this financial organizing go? If I may, I want to share some plans I have with regard to my finances. The whole point is for you to get an idea – basic ones – on ways to manage your money well. As said, these are really basic ones and may only apply to me. Nonetheless, I’d love to share them.

1. I started, of course, with putting 20% of my monthly gross income to my savings. I’m planning to make it 30% when I already have a good paying part-time job.

2. In the Philippines, an honest employer would deduct contributions to GSIS/SSS, Philhealth, and Pag-Ibig Fund directly from your monthly gross income. I work for the government, I’m guaranteed that my contributions are faithfully sent to these offices. Yes, I’ve been trying to continue paying my SSS even with my big contribution in GSIS.

3. My 15-day net income/disposable income is divided into the following: room rental, food, transportation, laundry, family I support monthly, and wardrobe. Whatever money I get from the stuff I sell online go to the “sale cash”. And whatever extra money I get from unspent allowance (from food, transportation, etc.) go to “extra”. I usually have monthly book allowance, but not this time. I get the money to spend on books from sale cash, which is mostly from the books I sold.

4. I’ve been checking my boxes of stuff looking for things I can sell online. I’m selling books, accessories, dresses, shoes, and gadgets.

5. Part-time job! I’ve been trying to look for the good-paying and won’t-mess-up-my-schedule-much as I have a full-time day job. I wish I could have one soon.

6. I’ll invest in stocks. I’m thinking of redirecting the money I have in other businesses to stocks. I haven’t fully decided yet because I’m still hopeful I could get extra cash from somewhere that I can put to stocks. But it’s definite that I’m investing in stocks in the first quarter of 2014.

7. I’m very determined about making the farm work. I’ve already planted 60 fruit trees last August 2013. I’m adding 60 more fruit trees by the first quarter of 2014.

8.  Unexpected cash (e.g. bonuses) must go to savings or investment. Before, I spend the unexpected cash to trips. Not this time.

Living in budget doesn’t mean dull and boring and difficult. It only means that you’re in control of your finances. You know where your money went. It doesn’t mean you cut all the good and convenient stuff, but you do it in moderation and with full consideration of your spending capacity and priorities. That way, you don’t end up broke, lonely, and full of regrets.

Here are some budgeting websites that might help you (from “Hot (broke) Messes”).

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