A Centavo Saved Is A Money Earned

This is a popular phrase parents tell us siblings, specially those entering new phase in their life, like the fresh graduates on their first work or newly married couples. Whilst many follow their parents' advice still majority of Filipino don't know how to save. Do you agree..i do..i'm one of this typical Pinoy. Are you also?

There are many books or articles to read on how to overcome poverty with saving. One financial educator; Mr. Francisco Colayco, teachs saving by setting aside 20% of your regular earning. He also emphasis the equation to save is salary less saving less loan the difference is for your expense (salary-savings-loan=expense) not the other way around. Yet the best example of saving is from Paul Brant a 70 year old man who bought a new Dodge ram for $25,000.00 from his saving of 13 years.. (read the full story)

The best idea for his story is to deposit those penny to the bank each time you save them to double this amount. But your gasoline to the bank would cost you more! :-)

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