Saving and Investing Tips

Just recently, my dad was able to attend a seminar by Suze Orman and he shared with me some useful information that I need to know on the proper way of saving and investing my money. Here are three important things that I learned that we need to take note of when it comes to managing money.

Make sure you credit card bills are paid every single month. 

By doing so, you get to save a big amount as finance charges for unpaid credit card bills are roughly 3% monthly and there is no bank that gives you interest that high on your deposits. Mind you, that is monthly so by doing the math, that's like losing 36% annually on credit card debt.

Spend on what you need and not what you want.

In this very materialistic world, this is one of the hardest things to do. I myself is not exempted and there are a lot of temptations, especially for ladies, to spend on a lot of wants. One thing that Suze Orman pointed out though is that we should try to limit our spending to the thngs that we NEED in order for us to be able to save.

Set aside money monthly. 

Learn to take off a certain amount monthly to be put to savings from your salary. It has been a normal practice for some to auntomatically debit a certain amount from their payroll account and credit it to a savings account. In this way, they are forced to do budgeting and use only what's left from their payroll. In addition, I think we should also develop the practice of saving even our additional cash inflow like 13th month pay, bonus, and the like so that we have enough whenever there are unexpected expenses or investment opportunities in the future.

We should bear in mind that a huge amount of savings is a result of saving small amounts often so we should not be discouraged whenever we start small as this will eventually become big.

LaNnA

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5 IMPORTANT Tips: Save Money on Travel

Other than photography, I have another expensive vice. Traveling. If you've been reading my blog every since, this is nothing new. I like it that every new place I visit opens a new window, full of surprises. Not only do you get to learn a lot about them but, you also expand your horizon and in return, you'll gain more experience and have with you a lifetime of unstealable memories that is priceless.

When I travel with my family, I don't fully think about the cost because my parents pay for it. But whenever I travel without them, I try to be very conscious of the budget because unlike them, we might have a much limited resource. I want to share with you 3 tips that will surely help you save on your travel, whether it be for leisure or business. This is based on my research, after reading TONS of ways to save on travel. (If you're a seasoned traveler, you might unknowingly know about this.)


1) Plan and Pre-Book Airfares
Always plan and book in advance. The closer you are to your date of departure, the higher the price of your airfare will be. Check with your airline about their baggage allowance. Some airlines like AirAsia doesn't have free baggage allowance and it is cheaper to pre-book your baggage allowance in advance rather than pay for it in the airport.



2) Seat sales and Cheap fares
Planning in advance not only lets you save money by booking early but, it will also save you money by knowing what date to book on if seat sales occur. Here's a tip, get a calendar and assign that as your travel calendar. Mark the dates you want to travel with "X" so when the next seat sale occurs, you won't have to think on the spot. Just grab that calendar and book! Also, travel on the less preferred dates like Tuesday or Wednesdays.


3) Compare ticket prices / Hotel prices and ADD coupon discounts!
In some routes and high traffic dates, seat sales may almost never occur. This is the perfect time to use hotel/ airfare comparison websites like Expedia. Choose the date you want to travel and Expedia will search compare prices for you. The REAL tip here is to search for coupons. A great site offering coupons is FrugalDad. Frugaldad.com offers expedia coupon codes! Check them out often so you won't miss great travel discounts!


4) Choosing a place to stay
Take into consideration where you will go most of the time. If you are in the city most of the time, city outskirt hotels might be cheaper but the travel expense might cost you. Another option is staying at apartments. That is also an advantage if you are more than 5 in a group! You can just book an apartment and divide up the cost. Not only will you have a larger space, you'll also get more amenities like kitchen and more bathrooms.


5) Plan your route
There's no better way to waste your money by going back and forth! Plan your route the night before so your route will be smooth. To save time, allocate time on each destination to maximize your plan for the day. If you can, also decide where to eat, where to shop etc as deciding usually costs you some precious time.

These are basic tips but ALL those tips can definitely save you money. Traveling soon? Bookmark this article and share this with them so that all of you can align with each other to save money! By saving money, you're putting in more funds to your next vacation! Feel free to add your tips at the comment section below. Readers will also check out your comments! :)


Cheftonio
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