How to make your first 100K♥

source: Google

One the hardest financial milestone is making your first P100,000.00.  Slow progress on the early stages of saving but when you get used to it, you will realize that you should have started it years back.  

It will be hard to start especially nowadays when the inflation is high, all the commodities are expensive as well as the utilities.  To achieve this you should be focus on the goal : increase your income, maintain regular savings rate.  (Save now, "Luho" later).

source: Google

Here are some start up tips:

• Start an Emergency Fund: I have already discussed this few years ago.  How to start or set it up.  Emergency Fund -What it is or how to set it up? (click in the link).
• Pay off high-interest Debt:  Eliminate your debt, this includes your credit card debt.  It's okay to use a credit card, but make sure you pay it all up in full on it's due date so it  will not earn interest.
• Keep cost of living low :  As the saying goes... "Live within your means".  Live within your budget, don't buy if cannot afford it. Keep a low profile life.. "Tsaka na ung immediate gratification.. telling yourself you deserve it kse you work hard. But at the end of the day you don't have enough savings for emergency."  
• Look for other sources of income :  If you have a day job, start a side hustle: start a micro business, do freelancing work.  
• Put your money to work:  Have a regular savings or money investment : like Pag-ibig MP2 where you can remit as low as P500.00 and it earns about 6% to 7% annually.  Another tip is to open a savings account : and regularly deposit P500.00 per month (or higher)  that's P6,000.00 in a year.  Invest on Mutual Funds: banks are offering this kind of investment.  It really depends on what type of risk appetite you want.  Gcash and other digital platforms are offering investments you might want to check it out. 
• Do the invisible 50 challenge : My Ipon Challenge : Invisible 50 ; you can also do invisible P20, P100 any value you can afford.  But be consistent.

Good luck on your P100,000.00 journey!♥