Don't ask me how to save money

First posted on Dec 29, 2008
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Now I know how important it is to save up way before you actually buy a house or go around scouting for one. Tell me I sound mega-clueless. Well, I knew since ages ago that anyone who wants to invest in a property or buy one has to have saved a significant amount.

But it's not easy when there are so many things that you want to have -- things that you've always wanted and could never have until suddenly your income grows at a surprising rate and you tend to forget the things that matter to you from the very beginning.

So you buy airline tickets for that fancy vacation you've imagined for years. You buy jewellery for your loved ones and it makes them happy. You buy yourself a nice sound system. You shop around for nice clothes and electronic gadgets that, well, make you and everybody you love happy. And you dine in restaurants that you normally did not visit years ago, but now they seem affordable and, why not, you've got money that you've worked hard to earn and it's your money, so why not treat yourself and the family to a nice, sumptuous dinner?

The list goes on and on, the habit develops and becomes a lifestyle, and the bottom line, you realize later, has remained just as it was before your income grew --- there's not much in the bank account despite the higher income.

And you say, 'Wait, I've laways wanted to own a house'. So you start looking for one and find one that makes you drool again and you say, 'I can afford to pay the mortgage on this my salary'. And then you plunge into it without preparation.
This is my story and it makes feel really stupid.

A few days from now, on the last day of the year, my first monthly downpayment is due. I could not send the money way ahead of the due date because, as I've narrated my lousy mentality about money, I've not saved up for this investment. I've already sent the money but it's a long bank holiday in the Philippines until January 1.

Whew! I've asked a relative to do some online banking transaction using her own account and I hope she actually does it to save my butt. If she doesn't, the bank will penalize me for signing a cheque credited to an account that doesn't have enough moolah.

Yay! It's not really that bad since I can always pay the penalty, but I hate the idea of incurring unnecesarry extra expense about a month after I made an important decision to buy that condo unit.

Now I'm fidgetting on my seat.

Why is it so difficult to get into the habit of saving?


::: THE PICTURE: Not bad to have this view when I look down from the balcony of my condo. Remind me (and that's years from now) to instruct the building management to keep the grass green all the time. Dreaming, as always.

::: First time to visit this blog? You'll have a better idea of what this blabber is all about if you click on previous entries below.

I bought a house
Poor guy signs a cheque for 4m++ pesos


::: btw, i found very good and some interesting reads on these sites: by john nery -- perfect stop for newshounds out for updates on happenings in the philippines. by ian -- nice for dessert. writer sees his own city (dumaguete, philippines) in a new light with the visit of fil-am performance artist.