All things in this world are done through a process. Each process has first step being done through small and simple way. Trees started from a humble seed. Birds started from fragile egg in their mothers’ nests. Successful people gained their knowledge in schools starting from primary education to college. Add also their experiences along the way. All went through a process. And learning how to save money is also being done through a process. Saving money has also its first step.

Piggy Bank

When I was young, naalala ko ang simpleng piggy bank ko. I guess all of us went through this phase in our life. Though for sure iba-iba ang ating mga piggy bank. My first piggy bank was an actual a pig-designed piggy bank which I received during one Christmas.

Do you still remember the joy of having your own piggy bank?

Ang saya di ba?

Back then, I didn’t know if I consider it as a toy or a personal belonging. Nevertheless, I include my piggy bank in my toys (naalala ko na naman ang Toy Story 3).

So what did I do to my piggy bank? Aside from playing it along with my toys, I also put all my loose coins from my parents, godparents, or any strangers. When I started to go to school, I save a portion of my baon to my piggy bank. Even the benti-sinko sentimos I put them in my piggy bank. Bakit kaya noon ang saya-saya ng pakiramdam magkaroon ng mga baryang hinuhulog sa isang piggy bank? That’s my first taste of saving my money.

The art of saving money is the same of having a piggy bank. I consider having my piggy bank as my first step in the process of forming a habit of saving money. Looking back at my childhood days, I wonder now why it is so hard to have that first step to save. From elementary days to high school and even after graduating from college, I have no savings. Sabi ko sa sarili ko di bale, when I will have my first job, makakapagstart na akong magsave.

First Job First Saving

When I got my first job, as a bank teller, I was so excited to receive my first salary. After deducting all the tax and contributions to SSS, Pag-ibig and Philhealth finally I will see how huge my take-home-pay! Wow ang laki nga ng sweldo ko, mas malaki pa allowance ko noong college pa ako kesa sa sweldo ko! That’s my initial reaction.  

Did you remember the old tradition of giving your first pay to your parents? That’s what I did. I gave my first pay to my father however he refused to accept. He said to me that I rather keep it and use it to pay for my rent, food and personal expenses (kasama na pang-date). As an obedient child, I obeyed his will. I treated my family though for lunch.

When I received my first pay, I had so many things in my mind. I was thinking that I will give a portion of my salary to my father and keep everything to me. I also thought the idea of segregating a little portion of my salary and called it my savings. 

It is actually hard to do the first step. For one we don’t know what to do or how to do it. How many times when we have great things in our mind but sad to say we don’t do anything to make it happen because we don’t know how to make the first step. Saving money is just the same. If only we know how to do it right, then I guess all of us have started saving money.

Yet I failed each time I tried to save. It took me to my current job to have the courage to start anew. I started last year. For starters like me, I suggest to create your piggy bank. As a working individual my piggy bank is no longer a small pig figurine rather it comes to a form of bank account. For someone like me having my salary through ATM, I decided to open a separate bank account where I could put my savings. Some of the banks I know are now providing an ATM savings account with lower or nil maintaining balance. Others like Banco De Oro and RCBC provide a savings account with ATM and Passbook at the same time. I suggest this kind of account for two reasons:

1. You can monitor your balance through passbook.
2. You have easy access withdrawing your money during emergency through ATM.

The joy of having a bank account for my savings gives me the joy that I felt when I was a kid. I know this is a huge small step in my quest to have financial stability. After having a separate account I know it will lead me to other investment avenues like investing in stocks, mutual funds and bonds!

If you want to start saving, start little by little. Do your first small steps today!

Save Always,

Boy Waldas