Here are 5 common reasons why Pinoy’s do not have a savings account!
Here are 5 common reasons why Pinoy do not save money.
1. Not having enough money left for savings after spending money capriciously. If you read our article 5 Easy Ways to Become Frugal you will learn how to do frugal living and help you save enough money and saving it.
2. Leaving things to fate. Filipinos are known to have strong, resilient but sometimes they leave everything to fate. The “Bahala Na” mentality (literally “Whatever happens, happens”) essentially is good like if you hope for the best after doing everything you can in solving a problem. When it is Bad? When you use it an excuse to do nothing or being lazy. When you just leave your future to fate without doing anything.
3. Not knowing how to save. Information is readily accessible today. If you want to know the best savings account in the Philippines you can easily check it out online and research or go to banks near you to check out products and services. There are a lot ideas on creative ways to save money that you can find online, you just need to commit to try them out.
4. Being buried in debt. Everyone have experienced debt but most Filipinos are having a hard time eliminating them. If you want to know “How to Eliminate Your Bad Debt” then start of by checking your money spending habits and follow your budget that way you can spend your money wisely and stop borrowing money.
5. It’s too late for me. Believe me, its never to late to start saving money. There are a lot of money saving tips that you can try. Just pick one and commit yourself in saving money!
This will help you identify yourself. Are you the type who makes excuses, who spends all his money shopping for clothes and new gadgets or someone who is buried under huge debt? Saving money is your first step to financial freedom. If there’s a will there’s a way!
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