Instead of spending money on more stuff that would just accumulate in our tiny house, I realized I could try earning money by selling pre-loved stuff. You know, those things you have used just once or twice but are still in mint condition. You could even add to these those items that you bought in the past but have never touched at all.
Last Monday, I sold my portable sewing machine online through my superfriend Nice. She took care of everything from posting an ad and finding a buyer to closing the deal with the seller and shipping the item. The hubby and I bought it in March 2012 (a few days after our wedding!) for P3,699.75 and I’ve used it only once. I attest to its perfect condition. I just found it hard to sew straight at that time (I think I need to attend sewing lessons first before I could fulfill my dream of sewing my own dress!) and also, I’ve found a new, fun hobby — baking!
Continue reading “Earning Money by Selling Pre-Loved Stuff”
One random weekday, the hubby showed me this link to a blog post sharing about a saving challenge. I immediately got interested and asked the hubby if he wants to do it with me, not individually but more of a joint effort. A day after, I’ve seen the same topic on a blog I follow and my determination grew even more. Fast forward to last January 7th, the hubby and I finally decided to take on the challenge. We started that same day.
Dubbed as the 52-Week Saving Challenge, this unique concept of saving money is pretty simple. Basically, it allows you to save up moolahs gradually but surely. Each week, you keep an amount that accumulates as the weeks progress. The total amount you’ll save gets bigger and bigger in the process. At the end of the challenge, on the 52nd week, that is, you will save as big as P68,900 (Pinoy version, in Philippine peso). Cool, ayt?
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Last month, the hubby and I took the bold step of investing through retail treasury bonds (RTBs). Don’t ask the amount. It’s just a small one that’s why we didn’t hesitate to use it for that purpose. We think it’s better than keeping it in a savings account where it earns very low interest. We still have some funds left in case of emergency so I guess we made a good decision with this one.
RTBs are a good investment. It’s the government that borrows the money so the risks are almost non-existent. I think it’s better than time deposits as it offers higher interest at a fixed rate. The investment time is longer, though, so you really have to make sure not to touch the money within the set period, say 10 years or more. Otherwise, there will be some risks.
Continue reading “First Real Investment”
I remember early this year, I told myself (and probably shared in this blog) that I wanted to be debt-free. No, not just me, but my husband as well. We have some credit card debts that need immediate financial attention. I’ve heard of other people’s horrible stories on credit card debts and while we’re far from credit card-related trouble, I can’t imagine ourselves getting into the same situation. It’s like it’s gonna be the end of the world for me.
I noticed that in the past two years, a good chunk of our supposed-to-be savings just went to our credit card obligations. I know there’s nobody else to blame but us. We made a lot of impulsive purchases (I once bought tons of cheap postcards just because they were on sale!) and spent money before it even came. Truly, a bad spending habit that needs to be curbed before it’s too late.
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I came from a lower middle class family. Unlike other families where both parents are working, it was just my dad who had a job. My mom took care of our home, of us. It was in my early years that I fully grasped the meaning of living within your means, through the examples and practices of my parents.
Then, my mom had a budget to follow and I believed she was able to manage her spending most of the time. Maybe it’s because she knew she couldn’t overspend because it would make her children hungry and her husband disappointed. During those times when she did overspend, she was smart enough to cover for it by borrowing money from friends. A not so smart practice, but at least, she was able to feed us and we didn’t go hungry for our dad to notice.
Continue reading “On Living Within Your Means”