I posted the 50-saving challenge in the hopes of inspiring those people who are working 5 to 6 days or even 7 days a week and yet, they are having difficulty saving money.
This is not to show off my wealth *wink* so please don’t judge me. 🙂
I am motivated to save money so I have some cash to spend during emergency situations (COVID-19 outbreak), to buy stuff for me or my daughter, to invest and to travel to any beautiful places like Albay’s Mayon volcano, Masbate’s Burias Group of Islands and Camarines Norte’s Calaguas island.
This is not really new to you. In fact, a lot of people have already posted their own “Ipon challenge” (savings challenge) in Facebook. I was inspired by them too. There are also some good tips from Pesos and Sense about investing but we will discuss it in my next blog.
I have been doing this for the past 3 years. I usually open my piggy bank every end of the year and deposit my savings to the bank.
Before the end of 2019, I have managed to save more than 30,000 pesos within a year. Maybe this is not much for some people, but I am proud of it.
I have two piggy banks. One for coins and the other one is for 50-peso bill only. Yes, only for bills that are 50 pesos.
The general rule is to save every 50-peso bill you receive.