The 5s I Like

Hi again!

Today's a holiday and one would normally rather lounge and go on vacation but here I am in my room thinking about my sales strategy (its a homework for, wait for it, my fashion class), also in between that reading business articles and browsing through exchanges in our group.

So here we go... because I am currently thinking about the future and financial freedom. I have a few practices I learned over college.

The number five is crucial for both this. One I like to call 5 piso jar, and another I like to call 5k build fund.

1. The 5 PISO (in a) Jar
How does it work: fish for 5 piso coins in your bag, pocket, coin purse and put them in a jar.
What does it do: it helps start up your savings technique. It builds up that discipline to start saving.
Why do you have to do it: cause 1s too little and 10s too much.
When do you start: Now. I'm sure you have a 5 piso coin somewhere.

You'll easily get a full jar. Once your jar is full or you're no longer on allowance from your parents or you don't have thesis to finance you can continue saving through 5k build fund.

2. 5k Build (a) Fund
How does it work: save 5,000PhP each month
What does it do: you can now open an EIP fund through any local bank accounts, or a COL account. Or you can save so you can invest more aggresively
Why do you have to do it: investing can be very intimidating for young people and I firmly believe in starting early. If you start saving to invest early you win by ccompounding :)
When do you start: start now, there is no better time than now.

So I've stopped practicing the 5 Piso Jar because (1) I need coins for public commute, and (2) I'm focusing on multiplying assets and I can earn more from 5k Build Fund. But I started with the coins before the bills and it will really help in the long run. You can do it with your baby sis and bro or cousins or if you have children. When you've developed a savings habit that red sign that says SALE won't be so attractive. And the sooner you stop accumulating debt and start accumulating savings the better for your future, the faster you can retire. Woohoo! Cheers to the week!

Xo,
Paula