3 Things You Need to Know about Saving Money

3 Things You Need to Know about Saving MoneyWhy does it seem to be so hard to save money?

Jayson Lo points out the number one reason. It is because of the lack of emotional attachment or connection. To what? To saving money itself.

In order for someone to enthusiastically save, he or she should have that emotional connection with it.

How then can you build such emotional bond with saving money?

Through his interview with Peter Kairuz, Jason shares 3 principles about saving money.

1. Pay Yourself First

This principle simply implies that before paying all the other expenses, you should first allot a portion of your salary as your savings.

This will set your mind into thinking that you are giving yourself a favor. As you keep doing this, you will develop a connection with savings and will love it in the long run.

At some point, savings will be a normal part of your financial life.

3 Things You Need to Know about Saving Money2. If you can’t afford it, don’t buy it.

Do not buy anything if you do not have the money to pay for it.

Thinking of using your credit card? Think more than twice.

Do not use your credit card to buy something unless you will be able to pay it by the end of the month.

If you do not have the money, then it means that you cannot afford it. Unwise use of credit cards lead to serious financial problems as your debt increases.

3. Sleep on it.

Before buying anything, especially something that you have been desiring to purchase, sleep on it for a night. Do the same on the next day, and then on the following day.

3 Things You Need to Know about Saving MoneyIn doing this, you will develop the habit of delayed gratification. The value and the intensity of your desire to get that thing that you have been wanting to buy diminishes until you do not want to buy it anymore.

Your savings will grow as you keep these principles in mind. Spending then becomes more difficult because you are already attached to it, knowing how you thrived to keep the money.

Saving money cultivates self-discipline. There’s no big or small amount to start with it. You will reap the fruit of your labor as you stay being diligent in it.

“A slack hand causes poverty, but the hand of the diligent makes rich. He who gathers in summer is a prudent son, but he who sleeps in harvest is a son who brings shame.” – Proverbs 10:4-5, ESV

Is saving an issue that you personally find hard to address? Call us anytime at 737-0-700 to reach us in Metro Manila or contact us through our CBN Asia Prayer Center if you are outside Metro Manila or outside the Philippines. We will be happy to pray for you and encourage you.

1 Comment

  • Jonathan Almelia

    Have a blessed day po, ako po sana’y humihingi ng tulung panalangin tungkol sa aming bahay at mga utang! we have been delayed for 6 months sa aming monthly amortization sa bahay, infact nasa collection agency napo ang aming account kung saan talagang mapwersa sila maningil at mapanakot din dahil icacancel nila yong bahay kapag hindi nakapagbayad sa takdang deadline na kanilang ibinigay. Ang worrie lang po namin dahil ung takdang deadline na ibinigay sa amin ay nung last month pa po at hindi namin ito nasettle dahil hindi nagmaterialise ung mga expected naming funds. Nakatanggap kami ulit ng legal demand last week kung saan need daw namin esettle within 48hrs mula nung marecieve namin ung letter nila, kaya nagemail din kami agad sa kanila although hindi sila nagreply nageexpect kami na natanggap nila at ok sa kanila ung inilatag naming agreement sa kanila kung saan ibigay nila itong buong November na masettle namin ito, nasa around 42k plus din po ung kanilangan namin esettle hind pa kasama ung bahay ng aking kapatid kung saan kami din po ang in-charge na magbayad dahil sa utang namin sa kanya, 2months narin po kaming delayed sa pagbabayad sa bahay ng kapatid ko na hindi niya alam at un din po ang hangad namin masettle ngaung November 2016, including ung tuition fees ng aming anak kung saan ay delayed nadin po kami ng 3months, at hangad din namin masettle lahat ung utang namin sa 5/6, sa mga kaibigan at pamilya! naniwala po kami na si JESUS ay meron siyan inihahanda sa amin para masettle namin lahat ng aming utang. Hindi po namin kaya kung sakali bawian kami ng bahay, Our desires po talaga to pay-off all our debts especially ang aming bahay. Tulungan nio po nawa kami na ipagdasal ang lahat ng aking hiling para sa ikagiginhawa ng aming damdamin ,isipan at pamumuhay ay magkaroon ng katuparan. Maraming salamat po at magandang gabi po sa inyong lahat!:-)

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