How To Save From Hard Earned Money

	Pin It
Tweet

A good friend of mine named Racquel taught me of a good trick she and her husband do to save the money. It's a really simple trick. But you have to be patient and you got to have self-control.

I really think I have to do this trick, maybe soon. Note, I try to edit a little of her idea to fit on my situation and satisfaction.

List down all the necessary bills that you need to pay every month. Examples of these bills are electric, house rent, water supply, phone and internet connection, food supply, TV cable.
Prepare an envelope for each bills to pay. So one of the envelopes has a label of "Electricity"... and so on...
Also, prepare one extra envelope with the label "Extra". This would be for the unused allotted cash every bill payment.
Do an estimate of how much your bills are every month. The estimates would be the amount that you will allot every month to each labeled envelopes. List them all down. You can adjust the amount and put a higher estimate on the bills, just in case the bill goes up. If you get 2 pays every month, then divide all the amount on the list into 2.
Every pay day, put the necessary amount on each envelope. Also, don't forget to deduct your transportation allowance when going to work, and any other transportation allowance.
The rest of the money, deposit it in a savings bank account.

For the next and the following pay days, collect all the unused cash on the envelopes (after paying the bills) and put it in the envelope with "Extra" label. Also, decide up to how much cash you would allow on the "Extra" envelope. If you decide it to be up to 3,000 (in Philippine Peso for example), the exceeding amount should be deposited to the bank too.

This technique can work for many employees out there.