Woman’s Simple Yet Clever Budgeting Trick Goes Viral

We all know how difficult it can be to budget our money, especially if we have a lot of debts and there are many mouths we must feed with our small salaries but a couple living within their means and actually living the ideal financial life has shared a rather simple yet clever budgeting trick that has since gone viral after it was posted by Peso Sense.

A certain ‘Jasmine’ shares the photo of an organizer filled with some money and three different passbooks from local banks. The money isn’t actually a lot and looks like just a Php1000 bill in one pocket, a Php200 in another, and a few Php20s in two pockets but this struck a chord with many social media users.

In the post, Jasmine shares how she and her husband budgets their money. She said that every salary period, they put money inside these pockets so they won’t have to worry about how to pay the bills when the landlord asks for the rent or the bills’ deadlines arrive.

The Groceries portion receives Php2,000 which they use to, of course, buy groceries while the utilities pocket gets Php1,000. They also set aside a pocket for ‘Allowance’ though the money here comes from any excess from the Groceries portion.

But before that, they automatically set aside 20% of their salaries which they put in the Security Bank passbook account. They also put the money for the 12-month challenge inside the BDO passbook account. The excess from Allowance, the extra money they get from online selling, and other excess cash they receive anytime of the year goes to the BPI passbook.

According to Jasmine, the system is very effective for them and has allowed them to save a lot of money.

Of course, it is easy to see based on their allowance and spending options that Jasmine and her husband still do not have kids – and many parents would tell them it won’t be easy when the kids arrive but seeing that they have this clear-cut system and have plenty of savings, anyway, we’re sure they wouldn’t have a very difficult time coping…

What is the 12-month challenge?

This challenge is actually a financial challenge that aims to save money within 12 months through various means, such as automatically setting aside money from each month’s salary for the savings account in the challenge.

Many netizens also use the 52-week challenge which is essentially the same thing but you put money in every week.

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