My friend tarush made an interesting suggestion in an earlier post:
“let’s join forces in this money-saving endeavor! we could be budget buddies :p scrounge around for rakets, join the same mutual fund when we’ve finally saved enough, look for budgetting programs online. let’s start project: bajillionaire!”
So c’mon, let’s do it. Here’s what we’re going to do:
1. Find ways to cut down spending without horribly sacrificing our lifestyles. I mean, we still have to watch a movie, hang out with friends, and shop sometimes, right?
2. Find ways to augment our income. A few rackets here and there, or even business ideas we can do on the side, can add up to a lot. I’m sure if we put together everything we know and find out there, there’ll be enough for everybody.
3. Find ways to boost our savings. Merely stashing whatever we get to save in the bank won’t do us any good. So let’s all be on the lookout for investment options – not scams – we can consider.
4. Find a budget buddy. We need someone to remind us of our goal everytime we’re tempted to go to the ATM or whip out our plastic cards for a useless expense.
5. Email me at moolahmatters[at]gmail or post a comment here about what you’ve discovered/learned/found/experienced, and I’ll post them all here at moolah matters.
6. Visit this site regularly and be on your way to becoming a bajillionaire!
What do you think? Let’s go!
moolah matters 
Coincidentally, I’ve been talking with an ex-client/ friend/ mentor about this. He used to be the Managing Director of Ovaltine Phil, Marketing Head for Nokia Phils, and Marketing Manager of Coke Thailand among other postings. He’s been helping me the past (or more like forcing me to stop spending my money needlessly and start saving up for the proverbial rainy day). One of these days, I may actually listen to him. Anyway, we might be putting up a blog about with tips on financial matters such as investing (whether on stocks or mutual funds), saving, and some equations that let you calculate just how poor you actually are. Content will come mostly from him and I’ll just be helping put it all in a blog because what do I know about finance?
If you still keep your stash of bajillion kips under your bed, then not much 😛
There are tons of financial advice out there, but I think they’ll only work for a person if someone else is pushing/encouraging him or her along. And it has to be personal, because each person’s financial woes often comes with a unique context. Anyway, if you do get to put up that site, feed me some of the real good stuff so I can post them here.
Well, certain practices are universal. i figure the trick is trying to find out how to make these practices practical to you. One simple trick is to keep your lifestyle comfortable but simple. Learn to live happily with a certain amount only. Everything else goes to savings or investments. The amount doesn’t have to be much. Psychologically though, this gets you started in the habit of living simple and saving money. As you get more rackets or make more money, the amount increases. He told me to do this when i left the Philippines and unfortunately I failed miserably. Next time i catch you on YM, remind me to tell you about my Johnny Gold experience 🙂
Ehem. Simpler said than done. Otherwise, none of use would have financial problems 😛
let’s form a weekly support group of sorts mala-AA, then we can share our tips and tricks (kung meron man) on money-scrimping. tapos before we make an actual purchase on anything, we consult the group first, etc etc :p
miss jetskee, may i apply to join this group? offer my humble qualifications as a
– one-time trust funds marketer and term insurance racketeer;
– twentysomething in net debt (with a hapless propensity to on occasion be “penny-wise but pound-foolish”);
– pinoy lad who loves to self-analyze
my most recent step towards bajillionairehood: exploring paying off this salary loan i made last year [and borrowing again at today’s lower rates]. if the calculations are right, i get to save thousands of pesos by moving from a 2.2% per-month interest regime to just 1.4%. Why, will save so much, will have enough for downpayment on a new laptop and digital videocam! bwahaha
my first tip-which-you’ve-probably-heard-for-the-nth-time: deleverage before you invest. no fun at all buying a mutual fund if you’re bleeding 3% per month (42% effective interest p.a.) on your credit debt. unless ur a masochist, of course
’07 milestone: congratulate me for paying off my biggest financial wounds (credit cards) this year. high time to do a car loan! yipee
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btw, congrats on the new blog. [any other friends and acquaintances out there? shoot me a mail when u have time…doodsts@gmail.com…] cheers!
tarush, i had something like that in mind nga. haha!
doods, are you back in the country na? we sure can use your expertise 😉
haha i was wondering who doodskee is. kinda had an inkling with the term insurance racketeer part but I wasn’t sure. hi doods!
Looks like I might get some new advice here. Count me in. Im also working on my finances and post them in my blog. I might me working on that for life.
Don’t be pessimistic! We can all get out of this rut 😉 share what you know too!