dividing and allocating my earnings properly

Philippines
March 10, 2012 1:12am CST
Hello Fellow Mylotters, As days goes by in my life, I become more eager to earn more and save more for my retirement. So I am doing double time in earning plus double time in trimming down my expenses. And, I always see to it, that I have divided and allocate my earnings properly so I can be able to save more. Just like, whenever I gained a new earning site, the earnings which I am receiving from that new site is really taken care of and allocated thoroughly. Hence, in this way, I can easily identify where my earnings are being throwned out. Aside from that, I will not think again and again where to get funds to pay the bills to come.
1 person likes this
4 responses
@cutepenguin (6457)
• Canada
10 Mar 12
Right now we are just putting all of our money into two bank accounts - one to pay bills and one to save up for a house. It's a fairly easy system, actually. We use a bit of money each month that we withdraw in order to have spending money, and other than that, everything goes toward bills or savings.
• Philippines
11 Mar 12
hi there cutepenguin, that is a good move. having a basket for savings and a basket for every expenses.
@Aja103654 (5658)
• Philippines
11 Mar 12
That's good. I have started allocating my earnings too. when i had my job before, i wasn't able to save anything. i had many regrets. so this time, i will endure a little so that i can save enough and put it on a bank account in case i will ever need the money in the future. now, i'm relatively content. not entirely but more or less LOL. does that even make sense? i want to buy some things for myself but i always think twice and come up with a conclusion that i don't need that thing i wanted in the first place. -sigh-
• Philippines
10 Mar 12
Yes, earnings and finances should be organized according how we want it to be allocated. Much like budgeting the earnings. I do this with my online earnings to. I especially do this with my investment money and income too. I really don't want to have a problem with money that is why I am trying my best to save and allocate my finances appropriately. I know most people that are broke don't have enough organization of their expenses. To be financially stable and free, one must be financially literate and apply certain organizational techniques to be able to monitor finance and be able to save and invest.
@choybel (5059)
• Philippines
10 Mar 12
This is one problem I have and one thing I would definitely teach my children-to-be of, earning and saving up money. It just seems to me that I have no control over my spending and I can go from rich to broke in a very short time. I am aware of the problem but cannot really come up with a good solution yet. I guess I just have to learn things the hard way, as it is already.