A lot of people ask me this “how are you able to save up for concerts and travels? Do you get so much money from blogging?”.
The ANSWER is “NO”.
I don’t even earn a single centavo from blogging. I just do blogging for fun!
But I would love to earn from it if opportunity comes! Haha
If you see me travelling to a country or attend Kpop-concert it is because I SAVED UP for it for a long time!
I will share with you how I save money below.
How to Save Money ‘Iponing’ for Concert Tickets, Travels andEtc.
1. BUDGET YOUR MONEY WISELY. I actually took a budgeting class from Arriane Serafico and since then I’ve transitioned my saving method to her method. I’ve followed the things I learned from her budgeting tips as follows:
a. SET YOUR TARGET. I set goals quarterly. I list the things that I wanted to do for the entire year on a quarterly basis — For example, I need to attend 3 Kpop UB Concerts and Travel to Korea etc.
b. DO THE COSTING. I would research how much my target would cost me. Let’s say 3 Kpop Upper Box Concert Ticket will be around Php 20,000 (including the ticket charge) **I can’t afford VIP ticket because I belong in a multifandom**; then traveling to Korea will be around Php 35,000 so total cost will be Php 55,000. That’s a lot of money right?
c. SET THE DATE. Now, that I know my target and how much it will cost. I will set the target date for each of my goals. Kpop concert doesn’t start until the second quarter so I have 6 months to prepare. My trip will not be until October so I have 9 months to prepare. Overall it will be:
3 KPOP Upper Box Concert Tickets — Php 20, 000 — May 31, 2018
Trip to Korea — Php 35, 000 — September 30, 2018
My savings formula is this:
Income – Necessary Expenses – Savings = Extra Expenses.
Income is my salary.
Necessary Expenses are the things I’m paying for each month (ie. rent, internet, electricity / water bill, grocery, etc.).
Savings are my savings (ie life insurance, target goal (travel, kpop concert), and emergency fund).
Extra Expenses are my extra money (if I still have, sometimes I got short too!) Haha.
2. SAVE SAVE SAVE!!! There are two ways I save money for the target goal. I hope this will be helpful to you.
Disclaimer: This works for me but it might be different for you.
a. ATM. Open a savings atm account for your target goal. Give the atm account to your trusted companion (ie friend, parents, or siblings). Let them keep it for you so you can’t withdraw it. But then get the account number and account name so you can regularly deposit the money to your savings. Do not get it from them. Only get it when the concert ticket selling starts or when you plan to book for your travels! Then give it to them again after. Keep saving money!
b. Create your own piggy bank. Save any excess coins from your daily allowance to the piggy bank. Coins can be Php 5 or 10. It all depends on you. Never count your money and just open it when it’s really needed.
3. THINK EXTRA. If my money is not enough I work extra to accommodate the money I still lack. I work on the following:
- Conduct garage sale of my unused old and new clothes, bags, etc.
- I pack lunch and meryenda (afternoon snack) everyday so that I won’t be needing to buy food.
- I work on some side hustle (tutor a neighbor, and do some research papers).
The money I’ll get from doing it will be added to my target goal fund.
DON’T SPEND WHAT YOU CAN’T AFFORD
I am proud to say I am very thrifty. I am good with handling money because I know at such a young age how important it is. My parents didn’t spoil me even though I am an only child. Actually, whenever I ask them to buy me stuff they will tell me to wait for it until we get enough money for them to buy it for me because we don’t have money or sometimes they will tell me to save up for it if I really really want it that badly.
So even before, I learned how to save money. Whenever I go out with friends I will just allot money for that hang out and I cannot exceed with that budget because my budgeting will get destroyed. I’m not depriving myself of anything I just allot budget for everything.
My key for saving is that “I don’t spend more than what I cannot afford.”
I am afraid of debts so as much as possible I stay away from it! I don’t own a credit card because I don’t want to have debts. Whenever I want something that I’ll need credit card with (expense within my monthly budget). I’ll just use my cousin’s credit card because it will force me to work double and pay for it. This is for instance I need to buy laptop / camera for work (which rarely happens).
Also, every time I go out and I saw something cute at the mall I will ask myself the following questions before I’ll buy it.
- Do I need this or Do I just want it?
- Will I be able to sleep if I don’t buy this today?
- Will I be able to use this for 6 months to a year?
I’m very practical. I see to it that everything I buy will be beneficial for me for a long time. This also help me sort out all those temptations at the mall or especially the bookstores.
WHAT YOU SHOULD NOT DO WHILE SAVING MONEY
- Do not starve yourself. As I say, allot budget for everything. If you don’t want to buy food at the canteen just bring pack lunch or snacks from home. There’s also a lot of “tipid meals” near schools / office — stick to it for the meantime. It will save you a lot of money and will save you from getting sick.
- Do not buy things you don’t need. I know things at the shop / at the mall are the cutest thing on earth. I know it’s tempting but hold on a second before you give your money to the cashier. Ask yourself whether you need it or you just want it. If it’s the latter don’t buy it.
- Do not lie to your parents about your school allowance. Do not ask your parents to increase your allowance because you will buy things at school when in fact there’s nothing to buy. It’s really bad. So, don’t do it!
- Do not hang out with friends at the mall everyday. I know this sounds ridiculous but you have to stay away from the things that will tempt you to cash out money. If you can just hang out at school / to your home it’s even better.
TIPS TIPS TIPS AND MORE TIPS…
I know you are thinking “I am just a student. It’s hard for me to save money.“ It’s actually not hard. If other fans / students can do it I know you can do it too! You just have to set your mind correctly. Turn that “It’s hard for me …” to “I will save because…”
- If you have old subject books that can be used by others, you can sell it to other students at a lower cost.
- If you are going to buy pad papers / yellow pads and your classmate will ask you to give her some paper, ask them to pay Php 5.00 for each paper.
- If you have assignment that don’t require printing try your best to research at the library or read your book first. Don’t go directly to a computer shop and rent one.
- If your parents will ask you to buy something at the convenient store or mini store. Ask if you can get the change.
- Bring only the money you need for the day and leave the rest at home.
- Do well in school. If you can belong to TOP 10 the better — I know based from my niece experience that if she did well, her parents somehow give her additional allowance and allow her to attend concert (provided that I will join her).
- Do chores – your parents might give you extra allowance from being diligent at home.
NO MORE “I’M BROKE” EXCUSES
Always save money for your target goals early so you won’t be having problems when the time comes that you will need it. No more “I’m Broke” excuses, okay? Just Save! Save! Save!
If there’s a will there’s a way!
Save so you will not have regrets later!
DO YOU HAVE ANY OTHER SAVING “IPONING” TIPS?
Do you have any other “iponing” tips. Comment down below and let’s help each other with our goals!