12/16/2024
Budget. Save. Pay Bills. Invest.
I could write a long story about how I learned to work on my budget and live within my means. We didn’t have much growing up so I knew how to value what I had back then. I started with a Php17,500 monthly gross salary in the Philippines as an entry level associate working at a Big 4 accounting firm back in 2012. I wasn’t paying any rent at that time since I lived with my relatives. I was also sending money from my paycheck occasionally to my parents to help them out. Like any others, I was always excited for the bonuses and profit share to come so that I can buy something for myself and also contribute to my family. As far as I can remember I never got short of my budget and I managed to pay my credit card bills on time and in full. I tried to set aside 10% of my salary for my savings and emergency fund but I wasn’t consistent though – it was just hard with the amount of salary I was getting. After two years of hard work, I got promoted to Senior Associate and I was making twice as much as I did. So I started sending money regularly to my parents and also started investing in Unit Investment Trust Fund (UITF) at certain banks. I found that more convenient because I didn’t have the time to study more about stocks – opening an account was such a hassle back then and I was also busy building my career at that time.
Nowadays, we all have access to pretty much everything. It’s easier now compared to what we have 12 years ago. Just go to YouTube, Google, and ChatGPT and p**f! That’s it. You got your answer in just a matter of seconds.
We all have our own battles to fight with but people have their unique ways of dealing with those challenges. Life happens and we all have our priorities but never forget to take care of yourself mentally, physically, and financially. Over the years, I have learned the importance of knowing what matters most in life, how to live your life simply and comfortably. The most rewarding feeling is that waking up one day without worrying about your bills, problems, and stress in life. Focus more on genuine relationships and what brings real happiness in your life. You’ll need to figure that out for yourself. You are in control of your life and in order to get better, you need discipline and consistency in your chosen strategies.
After overcoming the greatest challenges in my life, I became debt-free and started saving in 2019 while working abroad. I would set aside more or less 60% of my net salary. I saved up before I moved to the US and married my husband. I learned the importance of having an emergency fund when my mom had stroke in 2017. You will never know until you get to experience that situation and that life will hit you so hard and badly. It was a lot for me to take in but I survived it.
Fast forward, I’m now managing my personal investments and my total monthly expense (fixed + variable) is only averaging 26% of my net base pay. I don’t spend crazy and I’m not into luxury goods. I don’t find contentment in all that stuff. I’ve always lived life simply and continue to do so. My husband and I are in a comfortable stage in our lives that we don’t have to worry about mortgages and all that. Yes, we are debt-free. We just have to deal with our daily expenses and of course pay our taxes and insurances.
We are both just regular employees doing our best to get by and save for retirement and our future. We find joy and comfort with each other living our everyday lives and enjoying our home cooked meals together. Yes, we don’t eat out often. Recently, I started paying attention to the food that we eat. I cook all the time. Dining out is just so expensive (especially here in the US) and you never know what they put in your food (how much salty or greasy that could be). It’s so important to be healthy. That’s real wealth. Remember, you are what you eat.
Everything should be balanced – diet, exercise, work, and life. I’m also a work in progress but I always have that drive to become better than my old self. And that’s what keeps me going. If I can, then why can’t you? Realize your potential and start working on yourself to be your best version as you move forward. You’ll do amazing for sure! 😊💯
- Mab$
