Who doesn't want be free from living off paycheck to paycheck? Here are a few steps I've taken to get a good start on my way to financial freedom
1. Get a reality check and figure out where you're at.
Where else will you start? It's important to know exactly where your finances stand and how much more losses can you tolerate before you sink in debt and never be able to get up. Getting a better picture of your financial status will guide you in establishing your goals and achieve financial freedom.
On my previous post, Going Through Lifestyle Inflation, I mentioned that I have a negative net worth but looking into it closely, I still have a few bucks in my name. It can't wipe off my long term debt, of course, but I can use it to pay for the current ones without touching the money I'm saving for my operation.
Basically, I'm broke but people wont notice; not even the merchants I owe to. That's a good start.
Well, of course that's not how I imagined my getaway will be but you get the gist.
Lifestyle inflation happens when your increase in income is followed by increase in expenses. Others write articles on how to avoid it but in my opinion, it's inevitable. Changes in work and family conditions will cause it to inflate in a way, like buying a family car or moving to a bigger house. Besides don't we all work hard to elevate our standard of living?
After college, I landed my first job as a purchasing staff in a manufacturing company and believe it or not, I only earn between P6,000 - P10,000 a month including overtime. Now I'm earning roughly three times more than that but I have no investment and P20,000 behind my targeted personal savings plus a personal loan.
So where does my money go? How was I able to manage living with only that much in the past?
I chelked my credit card billings, some receipts and here's what I found.
The thing I love about Bobbie Nail Creme is its variety of unique finishes. Their latest, Supah - GEL Collection, promises to "give your mani a voluminous, gel-lific finish" and "long - lasting gleam of a salon gel manicure sans UV light".
What: Bobbie Nail Creme Supah - GEL Collection
Where to buy: Watsons (Exclusive)
Price: P79.75 each
In an article, I read that an average cosmo girl earns P20,000 monthly gross. Thinking about it, I earn way more than that net of all deductions in a small city at the north side of the country without a heavy financial responsibility for over five years. On the same day, I checked my bank balance and realized I'm actually twenty grand short for that minimum amount of personal savings plus I have a loan I made out for the house renovation. Technically, my net worth is negative.
Crumptes Nail Art has an ongoing challenge due every two weeks. This was my entry for the pink, lilac and gold color concept last May 26. It's ordinay so it'll be easy to do on both hands.
The products I used are as follows:
Bobbie Nails: Xtreme Gel Nail Gloss
Bobbie Nails: Yin Yang (Nail Twinsies 1st Collection)
BYS: Spring Blossom (Scented Nail Polish Collection)
Chic: Fandom (Fangirl Collection)
Colortrends: Fancy (Shopaholic Collection)
I was simply browsing for a new lipstick at the mall when a sales representative from LA Girl Cosmetics offered this kit to me. At first I thought it was from the same company until I was able to check it out when I got home.
What: 2nd Love Jet Setter Make up Kit
2nd Love is distributed by Jet Cosmetics located in Los Angeles, California USA but made in China. This particular collection, as stated at the back of the box, is cruelty free and will be expiring on September 2021.
I've been busy reviewing recently for my exam so I hardly had time for other things. I recently got these but this isn't anything new since I've been seeing some of it in the shelf for awhile. I went ahead and bought it anyways since I don't have any substitute in most of the colors in the collection and I'd be using it for the nail art challenge I joined.
What: Chic Fangirl Collection
Where: Watsons and SM Department Store
Price: P35 each
- The Office | NACPAE
- Blue English Primrose Nail Art
- Biore UV Perfect Bright Face Milk
- Bella Blanca Bleach
- Nail Art Tools in the Philippines
- Sideways French Manicure