Discipline and Consistency are the Keys

By Cheryl Sperling

"The ability to save money is the cornerstone of building wealth. In order to save money, you need to spend less than you earn. This is often easier said than done, but there are plenty of ways to help you begin saving money on even the tightest budget."

* Courtesy of IMG

Small Changes, Big Money. Each one of us are different and we can save in our own small ways.

 - Soda. Ah, the soft drinks industry is a multi million dollar industry and

Coke or any other soda is always present in our tables on most meals if not on most days whether we are just by our self or with our families. A big bottle is about 30pesos? or more? If you skip that soft drink, you not only become healthy and drive away diabetes-on-the-making but also you have money to add to your savings.

- Cigarettes. Not only is this a bad habit but also a very expensive vice. My college friend has a hole on his throat due to smoking. A pack cost 50pesos? Oh, another way to save!

- Coffee .. latte ... Starbucks? 

- Cable TV. Do we need a hundred channels? Can we really watch them all? Just subscribe to the channels you really watch and ... voila! ...savings.

- Bottled water. Buy a reusable plastic bottle and refill it at home and you can save on buying bottled waters. Research shows that the bottles used in bottled waters are not meant for long term use and its not good if left long time inside your cars where there is excessive heat. 

-New Gadgets. Ah, let's be content of your present cell phone, ipod or what not ... as these tech gadgets are changing so fast that today's new model is outdated the next month or year. 

- Shopping. Don't be too obsessed with shopping as its only the big businesses that you are making rich. There will always be "midnight sale" now and then, as the malls and shops wants you to part with your money! Pay yourself first, before you pay them!

-Eating Out. If we limit our times eating out, then it would mean a big saving. I normally invite my friends and relatives at home for get-together where I could cook myself instead of treating them out, as the amount of money you would normally spend in a restaurant, will be able to buy you more food when you shop and cook it at home and that food could even be enough for another meal.

- Parlor. This is my favorite. Being or living abroad, going to parlors to have hair cut is quite expensive, so I cut my own hair and so with my husband's. I learned the trick of cutting my own hair, in fact, from 'Oprah Show' That is, tying my hair with a rubber band as in a ponytail and then cut it below the band ... <smile>.

From the small changes ... in the illustration above, P17- a day ... that's about P500- a month! 

Wow, P500- a month saved in 35 years .... is P2.9M!

We can do better than that, make it P35- a day ... and you will have P5.8M when you retire!

That is the PRIZE!!... with DISCIPLINE and CONSISTENCY you will have- FINANCIAL SUCCESS!!