It's the beginning of the year again... and it's almost one month down. Here is another way of saving money - The Invisible P50.00 challenge. Maybe you have heard about this before. I started doing this in 2018 and I find it fun and of course helpful. Part of this invisible challenge helped me during the pandemic. Last year 2022, I was able to save P16,200.00. Well I know it's kinda small but it's okay than nothing at all.
I don't really put P50.00 per day on this Ipon Challenge (but you can do that too). What I do is if I get a crisp P50.00 I don't spend it and I just put it in my orange box even if I get P400.00 (in a day) I put them all there. I have this small wallet in my bag and every time I get a P50.00 bill (change) I place it there and transfer it to the box when I get home. I don't really pressure myself with this challenge, but if you do this P50.00 ipon every day you will get P18,250.00 (P50.00 x 365 days) at the end of the year. So I am P2,050.00 short this year. haha :)
Why is it call Invisible 50? This means that you will SAVE and not spend every P50.00 that you get.
Actually you can also choose the denomination you want. You can do invisible P100.00, P200.00, P500.00 or P1,000.00 but I think that's hard to do.
My take on saving money is that - you should not be hard on yourself. Set a goal every year without pressure (make saving fun!). Live within your means, showing off too much on social media will leave you penniless. It's okay to reward yourself (once in a while) for your hard work but make sure you have enough funds to cover the rainy days. Aside from Ipon Challenge, Open a bank account and Invest if you can... Pag-ibig MP2 is a great option.
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