What is Paluwagan?
Here in the Philippines Paluwagan challenge was never forgotten every year but only a few succeeds. Paluwagan is similar to the words "to ease up", "make less tight", "to loosen", "relax", "to make less firm". The idea usually include group of people pooling their money into a savings and then distributing the total ammount at the end of the year. The Paluwagan usually has a system of lending-saving. The member of the group can withdraw their money so that whatever financial problem burdens her will "loosen up" but ofcourse she must not forget to pay back so she can get her fixed money by the end. One of the perks of Paluwagan is that it has no interest because it was you and your friends money to begin with. That is the essence of Paluwagan.
At the start of January, we encourage our selves to save money. Saving money is hard specially when the budget is tight. Some family don't even have a cents to spare because the fund was spent with daily needs.
What will be the result of your saving?
The challenge goes like this, the said person save a fixed amount of money daily and by the end of a year, he was expected to save a fixed amount depending on the amount of money he chose. Now, I had mentioned that Paluwagan usually deals with a group of person. But how will we term it if one person only does it? I guess it can still fell with the term paluwagan but it will more likely right to say that it was self earning hehe.
Here are the paluwagan challenge that never gets old.
P.S We will be using Philippine peso as a reference :))
Starting with 5 pesos. Ideally, students and children were the target subject for this amount. But still, anyone can start with a price they could afford. Andres Bonifacio is the one who resides on the current coin of Ph. He was a Filipino revolutionary and the president of tagalog rebublic. This might bore you if I introduce everyone on the Philippine currency so I'll make it short and present to you the fixed amount of savings you will earn through the everyday challenge.
Not to worry, we also have weekly challenge if you have doubts on dedicating yourself to the daily challenge. But if you also want a bigger challenge, you can do the weekly challenge with a bigger amount ^^
Try 50 if you can :))
How about a hundred every week?
200 might be big but yes, you can :))
Well this is big for an unemployed like me, but why not?
Oh my, the amount can set you to a small business.
Why do you even save money?
For me, I save money to travel :)) that is one of my goal after giving back to my parents.
How about you?
After thoughts
I had mentioned in my earlier thought that some only succeeded with the challenge. By looking at it, I can see that this is an easy task but NO. I tried doing this countless of times but I failed as many times as I tried. Saving money is hard specially when emergencies happens because you know that you have a hidden stash that backs you. A tip for myself and also for you who is reading this, cultivate the proper mindset before starting.
Writing with a big dream, EvilWillow
