Monday, 24 November 2014

No need to be kuripot!!!

1. Don't go to starbucks!
2. Don't buy the new iPhone!
3. Don't go with your dabarkads!
4. Don't go for a holiday or engrande vacation!
5. Don't buy a branded clothes!

Those are famous advice of financial advisors. Pay for yourself first and invest for your future.

Here is the explanation:

1. Let's say you are drinking capuccino grande at Starbucks everyday at a cost of 130 pesos, equivalent to 2600 pesos in 4 weeks or 20 days. If you replace it with 3 in 1 coffee, it will only cost 78.70 for 20 sachet at a cost of 3.93 pesos. You saved 2521.3 pesos.

2. Buying an iPhone 6 will cost in a range of 32,000 -58,371.6 . If you have the iPhone 4 and 5 will not make much difference in terms of functionality, if you are using it for texting, calling, surfing on the internet then it's not necessary to buy a new iPhone instead used the money as a buying power on the stock market or open a mutual funds account.

3. Dabarkads, this is a part of our everyday life, to have social life and be part of the community. Be part of the community in which will help you grow your financial knowledge and help you achieve your dreams. A good example is the PAM community or PAM Academy.http://www.pamacademy.net/

4. Don't go on holiday or engrande vacation. I don't agree with this one. I travelled at least 25 cities around  the world with a cheaper expenses due to early booking and collecting points. Check http://chrisguillebeau.com/. I will be in UAE this coming first week of December.(just leave a comment if you want to meet your newbie mentor at no cost).

5, Branded clothes. If you can get a same quality of materials without paying double price, then you can saved a pretty good amount. The brand will not add to your pogi points,  no need to spend for expensive brands. A sale is not a sale. 50% off meaning that is the true amount of the items with small profit margin.

I will not give you an advice to be KURIPOT, instead SPEND WISELY. Life is short, even if you save a lot of money but suffering or sacrificing your lifestyle then it's time to reflect. You might want to increase your income like asking for a raise or promotions, adding an extra hours of work or overtime, business sidelines etc etc. There are many ways to increase your cash flows, you need to discover it.

Sincerely yours,

NEWBIE Mentor


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