Clueless Newbie in Budgeting: Ok, I saw your blog last week about why I need to budget my money. But then how do I start? My Answer: This is based on my own experience which may or may not work for you. Do whatever works for you. There is no right or wrong way. You should know best how to handle your own money. 🙂 At the start, I had no idea how much money to allocate for anything. I…
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…