No Savings Because...

How many times did you tell yourself to stsrt saving? Once, twice, thrice or worst is that you can no longer count on how many times you promised that to yourself but then it did not happen.

Is saving money really that difficult or is it just you who is the real reason if why is it that you still do not have savings. You really can start saving when you learned on how to discipline yourself. It does not matter if how much money you have earned, what matters most is that you have some money to use when you need it.

When you talk about savings, the first thing that comes in our mind is all about budget. We must consider the inflows of our money in order for us to save.

Some peoole practices the so-called the 60% 20% 20% rules when it comes to our money. First, we allocate the 60% in our daily budget (food etc.), the 20% is for our wants and lastly and the most important thing is 20% budget in our SAVINGS.

I have here below some reasons on the things that contributes on why some people can not make it happen what have they planned.

• Always going out

We know that when we get out in our house and go to somewhere like malls etc, even though you told yourself that you will not spend much money and when you already outside, you can not really help but to spend. There are a lot of temptations outside where you can spend your money to. Milk Tea, foods, clothings etc.

Going out once in a while may be okay because it really relieves stress but just do not make it a habit, you can make it a habit when you know how to discipline yourself from spending on something that is a nessecity.

• Online Shopping

It is not only when you are going out that will make you spend money. Lazada and Shopee can really make you spend money even when you are just at home. Avoid openning those apps because even though you do not have something in your mind to buy before you opened those applications, just by scrolling and scrolling, you may suddenly find yourself wanting to buy something in that online shopping. (kaway kaway sa mga madalas mabudol diyan ✌️)

• Buying not important things

Buying something that is not needed is just a liability. Learn to spend first on something that are necessary.

People are easily tempted when they see products that are on sale. Buying things on sale even though you really do not need it, is a very good example of unnecessary spendings.

You may say that you actually save some peso off in buying that item but in reality you did not saved anything because the things that you bought is not a necessity, you can only tell that you saved some peso if the item that you purchased on sale is something that you really need.

• Being Indebted

Borrowing money and delaying on paying it back is not good. Practice paying back your debts when you have the capacity on paying it because it might become a habit. And only borrow money when the only purpose is all about important matter.

Never borrow money just to pay your other debts on others.

Never borrow money when you know that you have no capacity to pay it back.

Never borrow money when you will just use the money on gambling, when you lose and you end up losing twice.

• Lending Your Money To Other People

While borrowing money on others is not good when your purpose is not necessary then letting your money be borrowed with someone else is not also nice or just be careful on letting your money be borrowed by someone else. Know first when the person has the capacity to pay. And ask them also if when are they going to payback their debt and if the stated date is okay for you then let them borrow your money. Know their characteristic, if this person who is borrowing your money is a good payer or has a history of not paying debts on anyone, he / she may pay his / her debts but it is on time or after how may dates / weeks / months / years after the stated due date.

Be strict with this matter, do not fully entrust your hard earned money on someone else because worst case scenario will be you may end up losing the money because you let it be borrowed with someone who is not responsible.

There are a lot of stories wherein those people who let their money be borrowed seems like they are bad persons to the people who borrowed their money when the lender starts to demand payment when the due date has pass.