mum's thoughts, 2016 goals, money matters, money talks

One of our main goals for 2016 is to save up so we can finally have enough for a house down payment. Yes, it may be a hefty amount to save up for, but with constant discipline plus frugal-living, not to mention a sufficient amount of prayers, am sure we can realize this goal within this year, or at least start with something substantial as the year ends.

One of the most effective methods for me to save is joining my sister’s cooperative/paluwagan at work. I have been doing it for several years now and it is really effective. I pay Php500 every 15th and 30th of the month, and by the end of the year, I managed to save up Php11,500 plus the interest my money earned over the course of the year. For 2014, my money earned Php800+ and there is no way it will earn that much if I kept it in the bank. The money I get towards the end of the year is spent on gifts for the family, some of my wants that aren’t too expensive, while I deposit half of it to the little man’s bank account. The money I saved up last year will go to the little man’s 7th birthday fund later this year. This year, the amount I will save will all go to our savings for our future dream house!

In order to save more, I am eyeing to do another round of the 52-Week Money Challenge. I have tried doing this 3 years ago, but I only managed to keep up until half of the year. Hopefully, I can follow through and finish the challenge this time around. I printed a copy of the spreadsheet using Mommy Levy’s 10-Peso Excel File, since I thought it was the most reasonable amount for me to save. Mommy Levy shared 2 more denominations for those who want to save more. I printed 2 copies of this table so Jared’s dad can do the challenge with me. I put my copy on my tin box where I plan to stash the money until it is big enough to be deposited to the bank. If I finish this, I will be able to save Php13,780 towards the end of 2016! I sure hope I can follow through and finish this challenge until the 52nd week! :yes:

If you plan to save up this year, you may want to try the 52-Week Money Challenge, too. And if you want to share other methods of saving, I would love to hear all about it!

Written by

mumwrites

is a 30-something work-at-home mum who blogs in between home chores + child-minding. i love coffee, books + reading, collecting lovely postcards, + spending loads of time outdoors with my little man.