Saan Ba Aabot Ang 13th Month Pay Mo?

Just this week I went to one of the ATM machine our town. Guess what, I encountered a long queue of people about to withdraw their salary + INCENTIVE or Half/Full of their 13th  month pay.

In relation to this, one of the mall in our town will have a MIDNIGHT SALE this coming Saturday + up to 50% OFF offer by other mall. This is really interesting the owner of the malls knows when people will have their salary or buying power. This is the reason Midnight & 50% OFF is around the corner during this season. 

I'm in deep thoughts were would this money goes? On my list are as follows: 

1. Debt 

2. Gadgets: Latest smartphone

3. Christmas gifts 

4. Fast food chains & Retails stores

The other day around, I met a friend of mine and we talked about 13th month pay & incentives bonus. She stressed out that most of the people who received their 13th month pay their ATM card are on loan especially those working in government agencies. 

This is BAD news! Why? Money is not yet receive but it is already SPENT! It falls to a bad credit. Whatever the purpose of the said money it doesn't sounds good. 

The main reason is wrong BUDGETING. 

Budgeting is the process of creating a plan to spend your money. This spending plan is called a budget. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do according to www.mymoneycoach.car. 

                             Budgeting is simply balancing your expenses with your income. If they don't balance and you spend
                             more than you make, you will have a problem. Many people don't realize that they spend more
                             than they earn and slowly sink deeper into debt every year. source: www.mymoneycoach.car. 

It is important to know the basic of Budgeting. Applying  the right formula on our system will impact our on how we manage our money. 

Old formula: SAVE the leftover

The effective formula: SPEND the leftover

The key to achieve this goal is DISCIPLINE! At start, it will be hard. But, if you persist your goal to be financially free do it consistently. Make it a habit. Do it 16 times or more to make a new system a habit and works for you. Then, it will become your system.

It is not too late to change & overhaul your financial system. Think the right mindset & you will achieve your goal!


Chase and work on your dreams

Lius Antiporta