Wednesday, December 11, 2013

Kakasweldo Pa Lang Ubos Na: Book Review

Kakasweldo Pa Lang Ubos Na by Vic & Avelynn Garcia

Just a few weeks ago, I finished a book called Kakasweldo Pa Lang Ubos Na (in english somehow means "Salary Has Just Been Paid, Already Used Up"). This is in light of my usual problem with my frequent travels and my recently self inflicted bills since I moved out of my parents place. I was hoping that the book will give me new insights on how to handle my salary and balance my lifestyle more efficiently. Though majority of the book contains tips I already know, it did encouraged me to BUDGET everything <currently using Budgets app> and allocate every single transaction that I do. To date, I am happy to say I can see clearly where I can improve on and how my money is distributed. I highly encourage everyone to budget even the smallest expense. I assure you, this activity is liberating.

More than that, here are more practical tips I have learned:
education- get scholarship if possible, public school system is not that bad just do your research well, home schooling is another option for parents who can afford to have one stay home
food - make use of grocery list and stick to it, do not go with other people especially kids, do not eat pork as it is very dangerous if not cooked properly
housing - don't buy expensive beds and far houses from work.
utilities - always monitor billings, use Energy Savings Lams, don't use heating devices, get only the services you need, lower airconditioner thermostat the better <saved me!>
clothes - buy during sale, wash it properly
gifts - buy during sale,recycle gifts, make a gift cabinet composed of on sale items
children - make a budget during shopping, promise what you can commit to
husband and wife - conjugal spending, have a petty cash account
family, relatives, friends - learn to say no, have contracts or post dated checks for any money lending agreements
transportation - do not buy a car unless needed, choose your most cost effective means, buy 2nd hand cars
garbage - sell garbage and earn - junk shop
sickness - get health cards, exercise and eat healthy
excess income = savings
gambling - not good, stop it now
banking - 3 accounts: revolving = atm, contingency, long term savings account. auto debit cards
credit card - don't get it unless you need it, open account thats tied with your credit card, get those without fees, pay full
how to get out of debt and stay out - plan your spending, budget, envelope/jar method

Here are some more money saving tips that I am or used to practice but have forgotten. Will do them again but even better with the added tips above.

Cheers! Happy saving!