Not a lot of Pinoys have money locked up in a safe or saved in the bank. More often than not, most of them use their salaries to pay for electricity, water, and other bills. In fact, research shows that there are more people searching for properties for rent than for sale because they don’t have enough money to buy their own property.
This is the most obvious way of starting your savings. Though it sounds really simple, not a lot of people do it. They might start saving, but eventually withdraw the money soon after. If you are really serious in home-buying, practice discipline to make sure you won’t use what you’ve saved. An easier way to save is to have the bank deduct the amount automatically from your paycheck. Who knows? Maybe you can save enough money for a car to go with your house.
2. Hide your credit card
It’s a really hard habit to break, but you need to stay away from the temptation of spending using your credit card. It will be really hard for the first couple of weeks but you’ll get used to it. When you use a credit card, you often end up buying things that you don’t need. Training yourself to stay away from unnecessary spending will make sure you stay in control of your spending.
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