What better way to start your year right than to invest in a house and lot for sale in Lapu-Lapu City? This first class, highly urbanized municipality in the island of Cebu can be your first real estate venture this year. Cebu’s real estate market continues to stand proud of its booming development.
Before buying that house and lot in Lapu-Lapu, you have to set your budget first. If you’re struggling with budgeting, here are five techniques that can help you prioritize your budget:
Try the 52-Week Money Challenge
You have probably seen this money challenge on social media sites, it’s time to join the bandwagon. This new saving habit has been deemed successful by savers around the world. Here is how it works: you save in peso increments weekly.
10 peso increment
The chart above uses the 10 peso increment. You save 10 pesos in your first week. The next week, you double the amount, putting away 20 pesos. By the third week, you triple the amount you originally started off with and put in your money jar and so on and so forth. If you think the suggested amount is a bit steep, you could start with a smaller & more manageable amount like one peso. This is a great way to reinforce the habit of saving.
Save Early for Retirement
As detailed by Business Insider, if you don’t start saving in a tax-favored retirement account while you’re young, you’ll miss out on perhaps the best investment opportunity of your life.
Retirement savings plans offer massive tax advantages that allow your savings to grow rapidly. This could also increase your odds of gaining financial aptitude at such a young age. Keep in mind that those who saved the longest during their early ages are the happiest retirees. Would you still want to work 30 years from now? If not, try saving early for your retirement.
Preparing meals at home is much cheaper than eating out. When you dine in, it’s better to cook large meals. Why? So you can recook leftover food. You can turn those leftovers into a new meal again or bring them as baon to work. It can also be safer and healthier for you because you can monitor the preparation of the food. Talk about hitting two birds or a whole nest, with one stone.
Now that you’re buying a , you should dig deep into your expenses and keep a tight leash on your budget. Start first with the major sectors: like your home loans and car loans. Once you’ve got these sorted out, track your other expenses. There are even apps (a lot of them) to help you.
Yes, the excitement of starting out a new plan is enticing but make sure that youl keep these goals all year round. Don’t expect that you’ll be a financial guru overnight. These things take a lot of time, money and energy before seeing the results. Align your budget with your goals and be realistic about it.
Investing in a house and lot in Lapu-Lapu City is a big step. Before venturing into this, make sure that have your financial ducks in a row.
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