Savings Plan For 2009
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Looking back on my goals posted on the first entry of this blog, it seems I failed miserably on item #1. This was mostly because of items #4 (I bought a MacBook) and #5, in which I invested all my potential savings into the stock market. A portion of my online income also went down the drain when I made a gamble in forex trading. Also, I never found the time to work on item #8 but at least I learned many money making opportunities.
I stopped buying shares for a while since the stock market had crashed and my stock portfolio has shrunk to 50% of its original value (I run out of investible funds, too). I realized that if I had not invested in stocks at all, I would have had built my emergency fund already. But then again, I would not want to miss out on the potential capital gains. Not to mention cash dividends from my stock investments, though not much, helped increase my passive income (item #7). Fortunately, I was consistent at not incurring any credit card debt, and I did make money online. But I still have an emergency fund to build.
This is why, as early as now, I am already trying formulate a savings plan for 2009. There are only 51 days left for the year. And that means I only have 51 days to make a feasible savings plan for 2009. In this plan, I should be able to:
- Build an emergency fund worth three months of my salary before the end of December 2009. That’s a six digit figure
- Allocate funds that will be invested in a diversified investment portfolio.
- Save enough cash for use as a down payment for a car or a house.
Got any tips for a geek who wants to save money? Drop a comment below. Thanks!
10 Comments on this post
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Fitz said:
I save money simply by paying myself first.
Anyway, my suggestion, instead of buying a car (may motor ka naman di ba?), why not just invest on a business franchise or buy a commercial / rental property.
Also, you can try to invest your savings in low/no risk short-term financial instruments like TBills. At least they’ll earn a higher interest than the savings account.
Good luck bro!
November 10th, 2008 at 12:08 pm -
jersonn8 said:
Hi Kuya Fitz, I was browsing thru your money saving tips posts kanina. I added you on my blog roll nga pala. hehe. Salamat sa suggestion.
November 10th, 2008 at 1:57 pm
[...] Original post by TopForex.info [...]
[...] Original post by TopForex.info [...]
[...] TopForex.info wrote an interesting post today onHere’s a quick excerpt Looking back on my goals posted on the first entry of this blog, it seems I failed miserably on item #1. This was mostly because of items #4 (I bought a MacBook) and #5, in which I invested all my potential savings into the stock market. A portion of my online income also went down the drain when I made a gamble in forex trading. Also, I never found the time to work on item #8 but at least I learned many money making opportunities. I stopped buying shares for a while since the stock market ha [...]
[...] Original post by TopForex.info [...]
[...] Original post by TopForex.info [...]
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