Nowadays, I am so lazy to edit the photos I was due to blog kaya hindi ko maumpisahan.
Anyway, what I was about to blog is regarding my 52 Weeks Money Challenge.
I regret to inform you that I lost the challenge. I had a total of P9,110.00 before I lost the challenge. I was on week of September 20. =(
I used the money for some immediate needs and mainly will not be able to return the whole amount before the year ends. I guess I have been very magastos lately that resulted to failing the challenge but I sure had some learning from it. I learned a lot and hopefully I can manage to finish the whole challenge in the future. I was actually thinking of starting the challenge na on any month, since I can't wait to start it again. I still have 2 and a half months before the year ends and surely, I can't wait to restart the program. I enjoyed every minute of having to save some amount.
If you wish to know where I used the money for, remember my kwento about my lost phone? I bought a second hand phone (less than a year used) from a friend who upgraded her phone recently. I am enjoying the phone because it's now android and it has games on it but still, I am not satisfied with it's camera's resolution. Anyway, that will do for now while I don't have a huge amount of money to buy a better camera. Some of the money was used to buy urgent needs for Jami like the time he ran out of milk supply without us realizing that we are due to buy another box. It happened twice along with the need to buy another bottle nipple which costs P530 for only 2 pieces. Hindi ko na kasi matiis yung broken bottle nipple nya since it's not safe if the hole were torn diba? Hindi ko na matiis that Jami was using a broken bottle nipple where in fact, I have savings to cover it while it wasn't on my budget to buy one. I realized that's the purpose of my savings eh, to save me from any headache if a situation calls.
By the way, before I forget, I'll share with you the things I learned with my 7 months journey of 52 Weeks Money Challenge. Let me repeat that this has been the first time I was able to save money for myself so I really learned a lot.
1.) Savings is FUN. Yes, it was really fun especially if you're able to keep up with the amount of money that you want to save. When it's piling up, it's more fulfilling that you are able to do the challenge.
2.) Savings can make you feel SECURE. For me, I could say it can make you feel mayabang. Hahaha! Not mayabang in a bad note ha?! But knowing that you actually had some amount to cover you if a situation comes up, it can sure feel you secure and happy because you wouldn't feel stressed about money. Like what I experienced one time when we brought Jami to ER of San Juan De Dios after work. I am glad I have HMO from office that covers any emergency cases and outpatient services but still, you wouldn't know kaya having a savings will be a big help. =)
3.) Savings should be put on a secured place. If you wish to have a successful 52 Weeks Money Challenge, you should put your money on a passbook (at least in my case). Originally, I put my savings only in my bag, when it came around P2,000, I have decided to put it on my old ATM where I have an access online. It was really easy for me to transfer money from my payroll to my savings. However, since I have an easy access on it, I can also transfer money whenever I am short on budget or if there's something that I have to buy. Ayun naman pala ang salarin.. haha!
4.) Learn to Budget your money. This is something I really have to learn pa. I am having trouble budgeting money and that resulted to shortage. Most of the time, I need to borrow some money from savings pa. Which is a no no kasi when you see your account going low, nakakawalang gana. Hehehe. That's how I feel eh. So budgeting is also essential while saving. If you budget your money well, you may end up some spare amount pa that you can add on your savings.
5.) Pay yourself first. I shared this before and I am sharing it again (for my own sake na din). We have been working all along so we can have some things that we can use for a living but always, always pay yourself first before you budget and allocate your money on bills etc. With that, you are sure that the money you allot for savings is safe then you can have the rest of your money for paying bills, food etc. This worked for me. Whenever my salary comes, I would transfer the amount of P530 for my bi-weekly saving (You can check my template above) then will spend the remaining on my payable.
6.) Make it your Priority. It will be best if you could make your savings a priority too. It's as if you were actually paying a bill - your future. You wouldn't know what's coming your way so be prepared.
7.) Acceptance. If things doesn't go your way, accept and think of something that you are capable of. Once your familiar with it then give yourself a chance to grow by increasing the challenge. If you find my template a little higher than what you are capable then you can always make your own or vice versa. You can customize it to your liking.
I have learned a lot and this list is really short but pretty sums up everything. Thinking about the list I made about what I learned, my conscience says "Coming from you 'te?!" Hahahaha! Parang hindi sa akin nanggaling eh. Anyway, I don't want to bore you with my bitterness na hindi ko natapos ang challenge but surely, I could always save money even without the challenge.
What I think about along the way? I thought about doubling the money that goes to savings so I could replace the amount I used. I tried it for at least two paydays but ended up using the money again because my budget and my bills were left hanging. I also thought of getting a loan to replace it but then I realized the interest that I could have saved as well along the way so I didn't really give in to that.
What now? What I was planning to do now was to continue the remaining days of my challenge. I am planning to continue saving P530 bi-weekly until the end of the year which will give me a total of P3,3710.00. I know along the way, this will be an inspiration to continue the savings I planned along the way. Anyway, the purpose of this challenge was to mainly teach myself how to save money which I think I was able to accomplish somehow.
So there, good luck with those who are still keeping up with their own money challenge. I'll let you know what I'll come up to in the coming days ha?! Until our next challenge. =)