My 2018 Ipon Challenge - The Peso Sense Way

February 06, 2018

It's love month, but my first post for this month is not about love but rather saving. I am a bit late for this one, but one of my motto in life is "It is better late than never." 

Last year, I decided to buy a kawayan coin bank and in a matter of 80 days, I managed to save 21,120.00 Pesos. I tried to do a different way of saving by doing the envelop style, wherein you put your money in an envelope and you label it with every expense that you would have in the future. That certainly, did not work for me. 

First, I wanted to you to know how I acquire/earn my money.
  1. Just like most of the people, I have my day job. I am currently working as a Sales and Marketing Officer in Manila. 
  2. I have my online shop in which I run whenever I have my spare time. I get my items via online purchase, and I sell my items via online selling. Everything is being done online.
  3. I have my physical store space in Bulacan. It wasn't mine, I am just a tenant. 
  4. I do some freelance job such as modeling and being a makeup artist. 

Second, where does all of my money go? What are my expenses? 
  1. Food
  2. Transporation
  3. Clothes/Makeup 
  4. Insurance
  5. Shop Items for my Online Shop and Store 
  6. Travel 
  7. Load/Phone
As you can see, I don't pay for my place, internet, electric bills, water bill. My dad is paying for all that as I am still staying with my younger sister who is still studying in FEU. Basically, for as long as she is studying and we're both not working yet, my dad would pay for our necessities. 

This is the reason why I get to save so much more money in a matter of short time. But this blog post is not about how I am a privileged kid, but as to how a millennial like me get to know the value of money. 

Remember, this is not about how much you earn, it is about how much you save.
Because basically, if you're earning 50,000 Pesos monthly and spending 20,000 Pesos weekly you are totally way ahead of your expenses and you need to learn to save your money. 


Print this file and use it as your own saving tracker sheet. //Credits to Peso Sense 

So what is this Ipon Challenge that I am doing this year? It is like bingo wherein you have this sheet to fill and track your savings. I feel like this is more realistic since you get to save a certain denomination with a certain total amount too. This wouldn't feel like a job, but a game. Well, for me this one feels like a game. 

I started last January 16, 2018 and so far, I managed to save 10,010 Pesos as of February 5, 2018. My goal for this year is to have 100,000 Pesos. I call this my 6 DIGITS GOAL. And I feel like this one would be a big help for me in making my next goal happen (which is buying my own house). I just need to keep track of my savings and my expenses and never lose sight of my goal. 

Would this one work for you? 

If you're gonna ask me if you should do this one too, I would definitely recommend it. But if the question is if it's gonna work for you, the only one who can answer that is you. To be able to do that here's what you can do:

  1. Track your expenses - make sure to list down your expenses. You can download an app called WALLY, it is available for Android and IOS users. You can input all of your expenses and you get to see how much you are spending.
  2. Track your income - Since you already checked your expenses. You might want to see how much money is coming in. This way, you get to compare if you are spending more than what you are earning. 
  3. Set your goal - Always have a goal in life. Start small if you can't dream big just yet. Just plan something out and then if you feel like there's that satisfactory feeling whenever you accomplish your goals, everything will follow because motivation will hit you right where you need it. 
  4. Keep your eyes and mind on your goal - No matter how many times you track your money and how many goals you set, if you keep losing sight of what you really wanted, you will never get there. So I suggest you get a planner, write your plans, and make a reminder to save. 
I hope that you would get the motivation to save after reading this. I never wanted to brag about the things that I do, I just wanted to inspire. It is time for us to be financially educated, financially stable. 

Lastly, here are the top three quotes I live by today: 

"Beware of little expenses. A small leak will sink the ship."
- Benjamin Franklin 

"Do not save what is left after spending. Spend what is left after saving."
- Warren Buffett 

"Rule #1: Never lose money. Rule #2: Never forget rule #1."
- Warren Buffet

Let's choose to be financially smart and stable. I hope you read again my next post. This is all for now. ♥

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  1. Hi Ann,

    Thank you for this blog. I find it so helpful.
    Btw, you've mentioned that you are paying for an insurance? May I know po kung anong insurance ito and under what company?

    1. Hi, Anon! I got my insurance from Sunlife. I'll be writing about it very soon :)

  2. Ohh, a VUL? Well, maybe I'll just wait for your next blog about this. Thanks for the response! :)

  3. Hi this is sheng, I'd like to have a savings but I am having hard time to save money. Hope this planner can help me with my goals