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By: Marvin Germo | August 19, 2019

Budgeting Your Money

Managing your cash is very essential but it seems like most people are forgetting how to budget their money because of various spending temptations. There are a lot of luxurious things around waiting to be bought. Traveling promos always show up when you just got your paycheck. Your co-worker is telling you to upgrade your phone since it is the trend today and you shouldn’t be behind of fashion. Now the question is, are these temptations avoidable? Can you still budget your money despite the lousy spending noises you hear? Yes, you can and these are some tips to help you out.

Catch me in my live training events! (quick plug)

The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing.  I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the trainings below.

Stock Smarts Hong Kong – August 11, 2019

ICON Iloilo – August 17, 2019
Stock Smarts UAE – August 30 – September 3, 2019
Stock Smarts Qatar —  October 3 – 6, 2019
Stock Smarts Taiwan – November 2, 2019

Spend Moderately

Avoid what you hear from your co-workers and stop spending on unnecessary things. One way you can preserve cash is to spend moderately. Spend only on your basic needs like food, some clothing, and shelter if you are renting. Pay the bills that need to be paid first so you can avoid penalties as these charges will only add up to your expenses. Plan your spending on your wants. If you want to buy a brand new phone, see to it that you have saved enough cash for it. It’s okay to buy it next month if you don’t have sufficient money. It’s better to save gradually so you can buy what you want than to spend all your salary on something that will decrease in value.

Pack Your Lunch

As much as possible, cook your food at home and bring it to work. Pack your lunch or dinner as it is more thrifty than a lunch or dinner out. Avoid eating in restaurants and try to spend on expensive food if there are occasions that need to be celebrated. Cooking at home can do good for your health and for your pocket. You don’t need to spend a lot on food, you only have to think of efficient ways so you can still eat something good while saving your money.

Use Petty Cash

One of the effective ways to preserve your cash is to set an amount for your petty cash fund. This is proven and tested already. When I am spending, I always see to it that I withdraw the cash I am going to use for the whole month, say 10,000 pesos. When this budget has been exhausted, that’s the time I tell myself that I should stop spending. Avoid using credit cards when you go out as this can only make you spend more. As much as possible, use cash when you’re buying something.

I’m excited to share my 5th book overall and the 4th book in the Stock Smarts series, Stock Smarts: Breaking the Resistance – How to time your traders perfectly. The heart of this book is to teach you strategic ways on how to come in and buy and sell stocks in a way where you come as the market is headed up and come out as the market is headed down. The book is now out and exclusive via Marvin Germo Book Orders.
For more details and to order my other books: Marvin Germo Book Orders
Stock Smarts Book