Money Matters + Clay Advisors: 5 Tips On How To Get Better At Managing Your Money

Photo by Sincerely Media on Unsplash

The beginning of the year is always the best time to evaluate your spending habits and money management skills, as well as formulating ways and making plans to get better at managing your finances. This is most ideal especially if you have plans for the year that would require spending or saving up big amounts of money and/or investing your hard-earned money.

Create A Budget

Creating a budget and making a list of all your incomes, savings, and expenditures is a fool-proof way of tracking your finances. It primarily serves as a record of where all your money went and gives you a clear picture of your financial situation. This written record will allow you to better monitor your finances, thereby making money management a whole lot easier.

Plan Those Purchases

Whether you have major purchase plans for the year, like buying a house or a new car, or simply doing the groceries weekly, it is best to plan your purchases ahead in order to see how you can regularly set aside a fixed amount for the said expenses. Creating such will also allow you to schedule major purchases around those dates when you are expecting bigger income or additional bonuses while relegating smaller or regular purchases on dates when smaller amounts of money are coming in.

If you are planning to buy a new house, using calculator apps like the one found at https://www.sofi.com/home-affordability-calculator/ will also be effective in helping you plan and prepare your budget for this major purchase.

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Money Matter: Personal Items That Do Not Need To Be Expensive

You may already be earning money, but this doesn’t mean you should buy the most expensive items to prove you’re a responsible adult. It’s more responsible to work with a budget and be aware of your spending limits. You don’t need to prove anything to other adults. Those who have been in your current situation understand that there’s a learning curve and that you have to slowly work on your belongings before you can confidently say you’ve got everything figured out.

With that said, let’s look at some items you can buy as part of your adult life without necessarily costing an arm and a leg.

Toners and Makeup Pads

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When you look at products such as face toner online, one of the first things you’ll notice is the range of prices. There are toners that are inexpensive and there are toners that come with a hefty price tag. The truth is, you don’t need the most expensive toners to get the job done. If you look carefully at the ingredients list, you can find a toner that works especially for your skin type without it ruining your budget. The same thing can be said about makeup pads. There are makeup remover pads you can buy for a good price, while those from well-known makeup brands can cost a little more. The price difference can be because of the technology they used to create the pads, but even a simple cotton ball can work if you already have a good toner to begin with.

Dinnerware

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Pawning For A Cause + My Very First Sangla Experience

I never had a personal experience with pawning but I remember it clearly when my Mama would pawn whatever jewelry she and my Papa owned whenever we fall on hard times or her brood of five needs extra money for school projects and other expenses. In fact, there are a number of occasions when pawning helped make both ends meet for our big family with our Papa, an ordinary employee, as the only bread winner. Thankfully, now that I am a parent myself, there has never been any immediate financial need that would require me to pawn or get a loan.

It is true that there is a stigma surrounding pawning or what we call in our vernacular, pagsasangla, in our conservative Filipino culture. Some would speculate that you are probably neck-deep in debt or is simply too poor to opt for pawning. But in reality, and, in realization, as I just had my very first pawning experience, it is actually a very practical and wise way to get funds for emergency, for augmenting your inadequate budget, or, in my case, helping a charitable foundation, without resorting to getting a loan with big interests or borrowing from families and friends.

Pawning For A Cause

I have just tested firsthand how pawning can be practical, very reliable, and hassle-free.

I recently met with a mum blogger friend in an event and she mentioned about Hero Foundation, which she has supported numerous times being a military wife herself.

image from the Hero Foundation website, herofoundation.com.ph

According to their website, HERO or Help Educate and Rear Orphans is a non-stock and not-to-profit organization that provides “supplemental financial support for the AFP {Armed Forces of the Philippines} orphans. The support come in the form of stipends directly given to the families to help with the cost of books, uniform, meals, transportation, school supplies, and sometimes, even their tuition fees.”

Since December is almost upon us, I thought it would be a great idea to spread some Christmas cheer by donating to this foundation who helps educate and raise orphans of our fallen soldiers. I am certain that whatever amount I give will go a long way in providing for these children and in helping them have a brighter future. It is also some sort of a personal tradition to help and donate to causes and charities each year whenever I can, my own little way of sharing the blessings I continuously receive.

You can also help by sending your donations to:

BANK OF THE PHILIPPINES
Account Name: HERO Foundation, Inc.
Peso Account: SA # 0013-6263-32
US Dollar Account: SA # 003184-0434-31
Reference No.: Donors name or write ANONYMOUS

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