Budgeting 101

I don’t know if I’m in the position to talk something about budgeting cause like every other millennials, I’m struggling when it comes to it. I don’t have a huge amount of savings in my bank, but I can safely say I’m financially independent cause I pay my own bills all alone and I can still help my parents considering I’m not earning that much, I can travel and buy the things I want without depending on anyone else. Personally, I think saving up money is all about discipline and lifestyle. It doesn’t matter if you’re earning a lot or not, it’s all about how well you handle your finances. So, I want to share to everyone how I budget my money.

1.Wants VS Needs

I’m a woman but I’m not fan of shopping. I can go on months without going to mall, I rather stay in my bed read books and watch my favorite shows than waste my time on it. So when I go shopping, I only buy the things I really need. You will see how much money you can save by only buying the things you need.

‘I like that mini dress! It’s really cute’ but it’s winter girl, can you wear it?

‘Oh! that crop top is really pretty.’ But do I have the guts to wear that? No, that’s too sexy for me. I can’t.

‘That heels is the bomb!’ But wait, where am I going to wear that? I’m not having dinner with Obama.

So those are the things going on with my mind every time I go shopping. You can live your life without those fancy things. It’s not as if you’re going to die if you don’t buy that dress you want. (Keyword: discipline or you can also say I’m just frugal and practical. Maybe lol.) 

2. Have separate bank accounts

I have two bank accounts, one is connected with all my expenses. That is where every month I left enough amount of money for all my bills cause automatically, it will be deducted. The other one is for my savings, obviously this account is not connected to my bills. This method is effective if you really want to see how much you save each month.

3. No Luxury Items

I’m ‘allergic’ to everything high-end whether it be a place or things. I rather have 2oo,oooyen cash than 200,000yen worth of a wallet with only 1,000yen on it. I can’t understand the logic why people are so crazy with branded stuff. A 200,000yen of bag is already worth of plane tickets to somewhere.

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This is the only branded thing I own. I bought this as a remembrance from my first-ever salary. It’s kate spade small coin purse. It’s not that expensive compared to LV.

4. Coin Banks

I’m that old-school that up to until now, I still have my coin bank. It’s all because of my upbringing, I grew up with my grandparents. Since I was in Elementary,  if I wanted to buy something for myself I have to save up for it. My grandma is so frugal, we’re not spoiled. They will provide the basic needs but not the ‘luho’ she simply won’t hand things to you especially if it’s just new toys or dolls. (I remember my coin bank back on elementary was the bamboo trunk you can bought at Public Market. My grandpa bought it for me. Every week, the money I save was only 20Php LOL)

So until college, the rule is the same. ‘If you want something, save it up for yourself.’ Well actually it helps cause I learned not to be depended on anyone and I learned the value of money at early age. So that’s the story why until now, I have my piggy bank.

Yes, it’s just coins but as time passes by you will be surprised by how much you can save on it. It can be a really huge amount of money. But sad to say, my coin bank is nearly two years now and it’s still not full. But at least it’s in half by now. LOL

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I’m using this coin bank you can bought it at 100 yen shop. There are lots of coin banks you can choose from.

So there you have it. I hope my blog post for today somehow helps and inspires you to save up. I know it’s not easy especially if food is life but nothing is impossible if you’re determined. You can still save money while having fun and enjoying the fruit of your labor like what I do.

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