Can you save 50 pesos a day?

Can you save Fifty Pesos A day?

Can you save PHP 50.00 a day? Everyday! Kaya mo ba? If you are earning more than PHP 20,000.00 a month, this might be fairly easy. But what if you are earning only a minimum wage of PHP7,000.00 a month? Kaya ba? I used to think, I can't! But I am doing it anyway!

You have already spent more than a million.

Alam mo bang dumaan na sa mga kamay mo ang mahigit sa isang milyong piso?. If you had been working for over ten years and just earning an average of  PHP 8,500.00 a month, then you have at already at least one million pesos over the period of 10 year! Imagine this, if you have saved 10 percent of that income every month, you would have at least a hundred thousand pesos in your bank plus interest.

Personally, had I realized this before I got my first job, then I could have at least two hundred thousand pesos in my savings. Had I learned to invest that savings properly, I could have earned more than a million pesos already.

However, it's never too late to start now. If I start now, by just saving at least PHP 50.00 a day and put that savings in a good investment vehicle, that could earn about 12% a year, I will have my first million in 20 years, or much less.

How? Read on, but first...

The Fifty Pesos A Day Challenge 

Assuming you earn PHP 8,500.00  a month, and you want to save at least 10 percent of your salary. 10 percent is PHP 850.00. If you are earning just this much, PHP 850.00 could be a considerable amount, and it would be a bit difficult to set that aside. However, if you divide that to 30 days, that's only PHP 28.33 a day. That's just about the price of a one litter bottle of cola, or about half a pack of cigarette. Things that you can easily cut from your daily expenses. If spend on these two everyday, you already save more than PHP 50.00 a day!

Turning Fifty Pesos into A Million Pesos

Earlier I mentioned that by saving PHP 50.00 a day, I can make it grow to a million in less than 20 years! 18 years to be exact. Add just another 6 years, and you will have TWO MILLION Pesos!  Again, I wish I had learned this twenty years ago!

Too long? Set aside PHP 100.00 a day and you will have not only two million pesos in twenty years, but almost THREE MILLION! Do you want to have your first million in just ten years? Make a PHP 150.00 a day challenge.

Interesting. right? What's more interesting is you don't need to recruit, or, sell anything to anybody! All you have to do is save that amount everyday and invest it on a right (and legal) investment vehicle.

How? Here is a link to a simple spreadsheet that I made that shows how you 50 pesos could grow into a million. Turn-Fifty-pesos-into-a-million.

If you save PHP 50.00 a day, you will save PHP 18,250,00 in one year. If you save it in a bank, which gives about 2% interest in a year (assuming a bank could give that interest) your money will be PHP 18,615.00 in a year! WAIT! before you jump for joy for the PHP 365.00 you have earned, the government will take a few percentage off for the withholding tax.

Don't get me wrong, I still put my money in the bank, specially my emergency fund. But I invested my real savings on at least two different vehicles.

In one of those "vehicles", my PHP 16,000.00 investment gained at least 30% within a year. The best part is, I did not sell anything, nor recruited anyone since I did not invest my money on a multi-level company?

I'll discuss on my next post where I invested my money into and where you should too.

But if you want to know ASAP, post a comment below and I will get back to you the soonest.

Thanks for reading.