Tag Archives: savings

Personal Finance: Pay Yourself First

The concept of “Pay Yourself First” sounds weird, beyond normal. The usual concept of savings is to spend so long as there’s cash in the wallet or ATM, with whatever money left considered as savings. This strategy appears sound — allocate a percentage for savings, control spending, then save what is left. But it’s not uncommon to end up saving nothing, using the usual strategy, primarily because by the end of the salary/pay cycle, all salary had been spent and nothing is left for savings. Continue reading

Why Savings are Important but May Not be Enough

To start a business or any economic endeavor, you need capital. Some entrepreneurs start with little capital, others with millions of pesos. Ricky Reyes started with his savings of P1,000. Jovel Cipriano started with over P10,000. The need for capital varies, but the fact remains that capital is needed. Continue reading