Pia’s Practical Tip #4 On Saving Money

Tip #4:

Auto-deduct your savings or investments on a regular basis (e.g monthly, every payday, etc).

Qualitative Benefit:

• You are not tempted to spend your money whenever payday comes.

Quantitative Benefit:

• If you invest Php 1,000.00 per month, you’ll be able to accumulate Php 16,000.00 per year @ 12%.

Pia’s Practical Tip #3 On Saving Money

Tip #3:

Use cash instead of credit when shopping.

Qualitative Benefit:

• You’ll not overspend.  You’ll be able to shop within your means.

Quantitative Benefit:

• You’ll rid yourself of credit card charges in the event you cannot pay in full.  Savings of at least Php 2,100.00 per year.  Computation @ Php 175.00 as finance charge monthly for a Php 5,000.00 shopping spree.

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Pia’s Practical Tip #2 On Saving Money

Tip #2:

Withdraw or inquire ATM transactions from the same bank.  Other banks often charge fees.

Qualitative Benefit:

• You can directly go the bank (over-the-counter) if something goes wrong  with the ATM machine.

Quantitative Benefit:

• You’ll save up on transaction fees.  Savings of at least Php 480.00 per year.  Computation @ Php 10.00 per ATM transaction, weekly.

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Pia’s Practical Tip #1 On Saving Money

Tip #1:

Internet or Electronic Banking. Have your account enrolled online for all your bank transactions (bills, balance inquiry, etc). 

Qualitative Benefits:

• It will save you ENERGY from frequent trips in banks and payment centers.
• It will save you TIME for not having to wait in line!  Imagine the long lines in payment centers.

Quantitative Benefits:

• You don’t have to pay for parking fees. Savings of Php 720.00 per year. Computation @ P30.00 per month, twice monthly.
• You’ll save on gas or tanspo fares if you commute.  Savings of Php 1,440.00 per year. Computation @ 60 per liter (average only, to and from destination).
• No transaction fees on balance inquiry and account transfers.  Savings of Php 1,200.00 per year. 

Here are some of the websites I personally use:

BPI

BDO

BANCNETONLINE

Pia’s Practical Tips On Saving Money - Intro

This title will have multiple entries wherein I’ll share some of my practical money-saving tips.

They will come in brief, short sentences - not the usual long paragraphs you often see here in my blog.

 

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