Saving Money: Stingy or Frugal (Kuripot o Matipid)

         Saving money or keeping a portion of your hard earned money to be used for your future financial goal is really makes you a kuripot?  Do you believe in it? Hmmm! Saving money when you do it regularly, it becomes a habit and it will become part of your daily life. Because of saving you learn how to budget your salary, you learn to differentiate the wants from needs and most especially you learn how to value each centavo you earned. 

         It will develop your vision towards your goal, why you are saving money. When you start saving money you minimize your expenses on things that you don’t really need and living a life below your means. Because you realize how to value each centavo you will spend. In some cases you also refuse to lend money to someone else.

          But is that enough reason to call you a Kuripot? Sometimes you will feel annoyed and sometimes ashamed of yourself, especially if they will say it in front of the other people 'kahit pabiro pa ito". Maybe you will ask yourself kuripot ba ako? Well, don’t be irritated to what some people saying about to you, because they don’t really understand what you are doing. Also, they don’t know what the real kuripot is? Kuripot is depends on how a person behave and act on spending his or her money. Actually, there is a good and bad side of kuripot. A word kuripot or stingy are synonyms of the English word “miser” which is defined by Wikipedia as;

A miser is a person who is reluctant to spend, sometimes to the point of forgoing even basic comforts and some necessities, in order to hoard money or other possessions. 

          So, kuripot can be called to a person who refused to spend money even for his or her own benefits. You work hard to earn money for your comfort and then you will not spend it even for your own benefit. If you become a slave of your money, you’re living like a miser in which you can be called a kuripot. But if you refused to spend money on the things you don’t really need, you are just a wise person thinking the right decision before spending your hard earned money. It means you are a frugal person or matipid in which Wikipedia defines frugality as;

Frugality is the quality of being frugal, sparing, thrifty, prudent or economical in the consumption of consumable resources such as food, time or money, and avoiding waste, lavishness or extravagance.

         Let say that kuripot has good and bad side. The bad side of kuripot is the person who is living a miser's life. A person refused to spend money even for his or her own comfort. Also, refuse to help others, even it is an emergency or life & death situation. 

        While, the good side of kuripot is living in a frugal way "wais or matipid" knows how to control his or her way of spending, knows to separate the needs from wants and a person who has no hesitation to extend his or her hands to others in time of emergency situation. 

          Next time, don't be upset for what others will say to you at least in yourself, you know that you are a good side of kuripot. So, if someone says to you "kuripot" just smile and say "matipid lang". Continue your goal of saving money, but don’t just saving it, also learn to invest your money. Because through investing, you are not only allowed your money to grow, also you make your money work for you. 

          Before I end up, let me ask you a question are you in a good or bad side of kuripot? Please write your answer in the comment box below. Again, thank you for visiting my blog and see you in my next post. May god bless you!

Also Read:

The Importance of Writing Down your Expenses
The Importance of Building your Own Emergency Fund
Is it Important to a Couple to have the same set of mind in Terms of Financial Matter?
An Advice for OFW before leaving our Country

P.S.1 Subscribe to my blog to receive my latest post directly to your email Inbox it's free>>Subscribe to My Personal thoughts About Life ..

P.S.2 By the way I joined truly rich club, dahil sa club binuksan nila ang aking kaisipan about investing, saving at iba pa. They inspire and motivate me to reach my financial goal, iniimbitahan ko din kayo to join us click here to sign up.

Is it Important for a Couple to Have the same Set of Mind in Terms of Financial Matter?

         A couple that is compatible with regards to their finances or let say with the same set mind is very rare to find it for now. It is because some couples do not give time to talk about it, some are lack of idea and not aware about their financial situation. In addition, sometimes one of them doesn't have interest to talk about it and just say “Ikaw na bahala”.  But often this financial matter becomes the reason to have an argument and misunderstanding between a couple. Then, later on sometimes if not settled, it ends up in a worse case. That’s why this financial matter must be taken seriously by a couple and not to be neglected to talk about it.  

       Well, it is common for us that we let our wife handle this matter.  We just give our salary to her and let her drive the wheel to budget all the expenses and saving as well. This is good if one of you doesn't have any idea how to do it, but it is much better if we have a companion than doing it alone and the best companion is your spouse. It is said “Two is better than one”. A Couple should have both Financial aware with the same set of mind in handling their money.  It is vital for a couple to have both one goal and understanding about their financial situation. They must discuss each other what is their goal, how to achieve this goal, how they will plan to budget their income and make a saving and all matters regarding their financial. Without discussing and planning it in the end not only your financial will suffer, but your relationship too.

Photo Credit:paperblog.com

         It is normal for a couple that they have some argument regarding financial problem or let say they have some misunderstanding about “Money”.  If one of you don’t have an idea or understand what their spouse doing, then conflict may arise. But don’t let this argument come to worse instead make it as a challenge to strengthen your relationship. Discussing and planning your finances together with your spouse will give a great benefit in your relationship. It enhances your bonding and gives an enthusiastic effect in your relationship. Being openness to each other and have an open mind is the key for it. Sometimes, I know you can’t avoid disagreement, but the secret here, avoid saying something that could make offend for both of you. Also, both of you must have patience when argument arises and make your tone low with compassion to each other.

Additionally, I will share with you a video from ANC On The Money... ↓

          Let me end up my article, with some few questions. Did you and your spouse have both the same set of mind with regards to your finances? I mean, are you both aware about Saving, Budgeting, handling your Income and also in Investing? Did you both discuss and plan how you will manage your income? Or you just let one of you to handle this matter? Hmmm! Feel free to comment your answer or idea to give additional information to others.

          I hope you get some tips on my blog about saving, budgeting and investing and again Thank you for visiting my blog and see you in my next post. May god bless you!

Also Read:

The Importance of Writing Down your Expenses
The Importance of Building your Own Emergency Fund
"Ber" Months Na!
An Advice for OFW before leaving our Country

P.S.1 Subscribe to my blog to receive my latest post directly to your email Inbox it's free>>Subscribe to My Personal thoughts About Life ..

P.S.2 By the way I joined truly rich club, dahil sa club binuksan nila ang aking kaisipan about investing, saving at iba pa. They guide me and motivate me to reach my financial goal, iniimbitahan ko din kayo to join us click here to sign up.

The Importance of Building your Own Emergency Fund

          Every one of us needs to build their own emergency fund. It is very significant to someone else to build this fund because of this main reason it protects our saving and investment. Emergency fund is like a friend that we can rely on. It will save us from worrying and lessen our stress in unexpected major expenses that can happen in our life. Well, I did not say that something bad will happen in your life, but we just have to anticipate the expenses we will use for it if suddenly it happens. Besides, who knows it will happen, that's why? It is better to be prepared rather than become crazy thinking where to get that money. Kaya tama yun isang kasabihan nating mga pinoy “kapag may isinuksok may madudukot”. 

Photo credit: usac.ucla.edu

         You can use it in unexpected emergency expenses that will happen to you such as suddenly lost your job, suddenly got sick, damage to your property due to the calamity and any other major expenses that you don’t expect. Having this fund you can have a peaceful mind where to get those expenses. You will not be forced to borrow money with a high interest debt, pledge your accessories to pawnshop or use your credit card as the last resort. But remember, that fund is for unexpected emergency expenses only not for paying your debt or any other expenses beyond it.

         Financial expert advice, you must have at least 3 – 6 months worth of your living expenses in your emergency fund. Your living expenses are your total monthly expenses you needed in one month. This fund must be put into an account in which it is easy to be liquid or in cash, like in a savings account or in any financial instrument that can be easily to withdraw once you need it.

Additional information I shared with you the video from ANC On The Money: Building Your Emergency Fund.....↓

         So the essence of this fund is providing you a back up fund that could save you from worrying, also protects your savings and investment. It protects your saving and investment in a way that you will not be forced to divert your saving or forced to pull out your investment to that unexpected major expenses. First build your emergency fund before saving or if you can build it at the same time much better, then investment will follow.

         If you have anything in mind or additional information about the importance of building your own emergency fund feel free to comment. It will give an additional advice and information to others.

         I hope you get some tips on my blog about saving and budgeting and again Thank you for visiting my blog and see you in my next post. May god bless you!

Also Read:

Invest Invest din pag-may Time
Money Saving Tips

Stock Market

The Importance of Writing Down your Expenses

P.S.1 Subscribe to my blog to receive my latest post directly to your email Inbox it's free>>Subscribe to My Personal thoughts About Life ..

P.S.2 By the way I joined truly rich club, dahil sa club binuksan nila ang aking kaisipan about investing, saving at iba pa. They guide me and motivate me to reach my financial goal, iniimbitahan ko din kayo to join us click here to sign up.