Pinoy, How is your spending this holiday season?

Few days to go and 2014 will say hello! kamusta naman ang spending natin over the holidays??? I know that a lot of pinoys out there have spent so much this holiday season, some may have spent onto something they have been waiting for, some may have spent their bonuses and salary for the gifts and all and maybe some really planned on spending their bonuses this season.. 

Para sa mga kababayan natin who have gotten beyond their budget this holiday, I hope the tips below will help. 

1. Credit Card

It's always best to pay your bills in full. Just in case, you can't really pay in full, pay at least half or the minimum due but do not purchase anything just yet if di pa tapos ang utang mo sa credit card mo. 

2. Income VS Expense

Again, it's always important that after all the eating and dining this holiday season, get back on track, make sure that you always prepare your income vs expense sheet para alam mo if there are items you need to adjust. 

3. Budget plan

For those who are into gadgets, maybe yung iba sa mga kababayan natin bought gadgets or appliance on an installment basis, make sure that you update your budget plan every month so you know which items (again) to adjust. (in fact, you should have been doing this all along kasi from your income vs expense sheet and budget plan, malalaman mo din if you can really afford to buy a gadget, an appliance or anything na makaka apekto sa cash flow mo)

4. Do not repeat your stupid ways this coming 2014

Since you have experienced na magka utang or mabaon sa utang noong 2013, Huwag mo nang ulitin ngayong 2014. Otherwise, di ka na makaka angat. You will become a forever slave to your creditor. Sabi nga ng ibang financial experts, you work just because you got to pay debts. 

5. Discipline

Finally, all your ways such as trying to fix  your cash flow, managing your income and expenses will become useless unless you have the discipline. Regardless of the amount of income we have, if we don't have the discipline to manage our own finances wala tayong mararating.  

When you are buying stuff, pwede mo naman i-plano diba? 

Sabi nga ni Mr. Vic Garcia who is the author of Kuntento Ka na ba sa Kaperahan Mo, and many other books na you ask yourself these questions when buying something: 

Buying Self-Test

1. Gusto ko ba talaga ito? 
2. Kailangan ko ba ito? 
3. Kaya ko ba itong bilhin? - is this within my budget? 
4. Gusto ba ito ni Lord para sa akin? 

and if any of these 4 questions will give you a "No" huwag mo nang bilin ang bagay na gusto mo. :) 

Discipline is key.

So, Pinoy, Kamusta nga ba ang spending mo this season? 

I hope that these few tips can help in managing your finances and getting back on track this 2014. 

Happy new year Pinoy!