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Category: Saving

Taking the 52-week Challenge

Taking the 52-week Challenge

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For the past few weeks I have been writing about savings & the importance of saving and last week I have started to write about the different ways of saving. Almost a year ago, the 52-week challenge was circulating in Facebook. Picture courtesy of https://cliccoaching.wordpress.com/2014/01/06/the-2014-52-week-money-challenge/ I was thinking maybe I should try it for fun. Because I am a hard core Excel addict I did up my own table. Here we are standing at end of Nov and I am…

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Collecting Coins: A Pleasant Surprise

Collecting Coins: A Pleasant Surprise

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In 2013, I started collecting S$1 and saving it in my Coke coin bank and I almost had it 80% filled.  S$1 is roughly equivalent to 34Php depending on exchange rate. Feeling too lazy to count it, bring it to a bank to deposit (the fee to deposit coins even minimal is a turn off) or bring to a hawker stall to have it changed, I have been slowly changing the S$1 coins to bills for the past few months. I…

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So Why Do I Need To Save?

So Why Do I Need To Save?

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After you read my blog about “Savings – Foundation for Creating Wealth”, I heard the wheels of your brains working & one of the questions forming is “so why do I need to save?” Some may think this is a dumb question to ask but I beg to disagree.  I think that if you have this question in your head, it is perfectly normal especially if your lifestyle or mindset has been used to spending like there’s no tomorrow. All…

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Savings – Foundation for Creating Wealth

Savings – Foundation for Creating Wealth

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Savings Meaning: (Source: http://www.deposits.org/dictionary/term/savings/) In deposit terminology, the term Savings refers to money set aside for the purpose of future use. Savings generally represent only one part of an individual’s assets and, unlike investments, they usually have a minimal exposure to risk. Based on the 2012 Family Income and Expenditure Survey of NSO: The poor earns 69,000Php annual income and their expenses are 73,000Php. They don’t have savings and even incur 4,000Php debt. The rich earns 715,000Php annual income but…

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