how to save money?help!!!
By mcbello13
@mcbello13 (13)
Philippines
November 9, 2011 2:21am CST
Hi everyone! i need a few suggestions how to save money wisely,been getting like 35,000 pesos a month and i know its a lot im a single mom and have 1 kid,i live at my parents house.Now whats happening is im the one spending for everybody including my brothers i dont like it but i cant do nothing about it because the spending is like when i buy food its for everybody when i buy groceries for 15 days they will consume it in 7 days.. im so sick about this.. i need to start saving for me and my daughters future.
7 responses
@Mashnn (4501)
•
9 Nov 11
I think it very hard to save in your situation. If I were you, I could first rent a small house and move away from my parent's house then you can make a monthly budget. Sticking to the budget will be important and requires discipline in spending which I believe you can really do.
@mcbello13 (13)
• Philippines
9 Nov 11
thanks for the response i thought about that also, just considering my parents feelings... worried about them getting mad at me.. not being selfish but..want to save up
@Mashnn (4501)
•
9 Nov 11
It is true that one day you should be able to leave your parents and settle down. Life is a cycle and time waits for no man. You maybe concerned about your parents but what about your life. Moving away from them gives you that independent that your seriously needs and make you more focused and you can always give them a regular visitation.
@ardoy0731 (7308)
• Philippines
9 Nov 11
I think you should talk to them to share what you have going through and explain to them what you feel so that you can come up to a solution and at the same time teach them how to be more responsible.In saving money,you should first save a small portion before budgeting and spending the whole money,cause we have the mentality of saving money based on what is left,which sometimes nothings left.
@tamirs (1807)
• Philippines
10 Nov 11
Hello mc,
in your situation right now,there is no way you can save for you and your daughters future.Believe me,the best way is to move out and do it on your own with your daughter.
Why am i suggesting that??I am in your situation right now the only difference is that,my husband and i knows that we are not saving but we don't like to leave our parents alone This time of their life.
We so much love our parents and we know what will happen if we move away from them. :-)
@Aja103654 (5646)
• Philippines
9 Nov 11
you have to set aside the money you have to use accordingly for different purposes. Don't put them all together in one place, it is likely that, every time you need money you would keep grabbing for it from the same place.
Invest some money in the bank, earn online but be careful with scams. Good luck!
@johndi9911 (20)
• Philippines
10 Nov 11
Put your extra money in the bank, and always put in your mind that you need to save your money for your daughters future. :)
@phillyguy (3005)
• Philippines
9 Nov 11
hi mcbello. Your situation is really hard because for sure you love your family and it's hard for you to explain to them that it should not be like that because it might hurt them thinking that you are complaining. But I think that is what you really need to do so that they will not get used to that setup up because if you just let them rely on you today it is possible that they will depend on you forever. Just explain to them that you also need to save for your son/daughter and you can also help your brothers find job.
