Money Matters: How do I save money from my low salary?

Being savvy and wise in terms of money management requires a kick of discipline. Whether how low or high the salary is, a lack of discipline in money handling only pulls you down to a rat race life.

I have been working in an English Tutorial Company for about 10 months now, and honestly speaking, my salary cannot promise me a settled future.

I started working at Utalk with only 6,500 pesos salary. That was my salary for two months. However, that low salary didn’t hinder me to save a little amount. I walked a kilometer or two every day from house to work and vice versa. I brought my lunch to lessen my expenses. And, right after receiving my salary, I always allotted 20% to my savings. I didn’t have my bank account at that time so I kept my savings in a jar. After two months, I saved 5,200 pesos. I used that money to open a bank account.

In the month of June, my salary increased to 7,500 pesos. You might think that I saved more because my salary increased. Hopefully, but no! In this month, I decided to live on my own. I looked for a boarding house and started living without the help of my brother. With that decision, I had to budget the monthly rental and my food. I also had to live a broke life in order to buy things that I necessarily needed, those are, a foam to sleep, pillows and blankets, rice cooker and stove. Despite all those expenses I had, I didn’t break my regular savings in the bank. What I did was that I changed my lifestyle. All I said at that time was, “This is just temporary. Later, I can reap the fruit of my sacrifice.”

I have to end mentioning how much my salary is now. Let’s just say that it increases. I also have to end telling how much I save now. Let’s just say it's quite near enough to open a business.

What is the secret of saving money? We have to accept that we control not how much money comes to us, but it is in our hands the out of money from us. What do I mean? It’s all about discipline. You discipline yourself from buying what’s only needed. Leisure is also part of the budget. However, to exceed the budget that it comes to the point it lames what is important, you cannot really save I tell you.

Right after you receive your salary, this is what I do, you immediately minus 20% for the savings, 50% for the bills and rent/mortgage to pay, and 30% for the food allowance. In this way, you can track where your money goes.