World Savings Day Ipon Power Tips from Cebuana Micro Savings!

Pinoys are set to celebrate Halloween again for the 2nd year under the new normal style. This is the significance of Oct. 31 to most of us, to prepare for the Nov. 1 All Souls Day and to make a jolly celebration of the Trick or Treat for the kids.

But did you know that Oct. 31 is also declared as World Savings Day?  

By the term itself,
World Savings Day aims to promote the importance of savings to everyone.  I bet many of us now knows how important “savings” are. We are all facing this pandemic which started early last year. Businesses closed, employees retrenched, our economy deep dived very low.  There was no work, therefore, there’s no pay!

Are we all equipped by then to survive? Do we have enough “savings” to help us cope up with it?

To have savings is really important! Your pantry can still be full without being dependent on ayuda’s!

Savings does not only serve emergencies, it can also be for goals set, like good education for your children, a nice house or even a convenient retirement.


The big question....Is it difficult to save?

Depends!  Yes for those who do not have set a clear objective why savings is important. And of course, No, for those who has the determination, objective and plan.

Actually, the pandemic gave us the opportunity to save more. We save money for not dining out nor travelling. There are free rides to take advantage of. This is a good start for those who have not yet started building up their savings.  

To fuel your desire more that building a savings is doable... here are some tips shared by Ms. Izza Glino of SavingsPinayPH during the "Usapang Ipon for the new normal" Ipon power push initiated by Cebuana Lhuillier in celebration of the World Savings Day:

Review your finances. Make sure that you have an idea of your current financial situation. One way you can do this is by calculating your net worth. It is essentially the difference between your total assets minus your total liabilities.

Make a Budgetand stick to it 😊 A budget is an estimate of your income and expenses over a set period of time. Normally done on a monthly basis, budgets work to:

Allocate your salary/income/money wisely

Know how much is coming in and going out in your cash flow

Identify the areas where you can spend less to save more

If you dont have a budget, now is the time to create one. And if you are already budgeting, it’s best to take a look at how you budget your money and keep it as effective as possible.  

    Track your spending. Record where your money goes and match it with your prepared budget. 

    Cut back on unnecessary expenses. Take a look at your recurring expenses and see where you can cut down. Is there a particular subscription you can omit? Can you adjust your utility bills and find ways on how to conserve your water or electricity.

With more people stuck at home its easy for our utility expenses to go high. Make sure that you talk with the people in the household and share to them your goal to save as well. Through proper communication, everyone will get involved and it’s way easier to achieve your objective to save more money., and subscriptions you can live without. But take note, “unnecessary” might vary depending on the purpose of each individual.

5  Learn to live within your means. To live within your means is simply making necessary adjustments to maximize the limited money/asset you have.

6.Set saving goals. Goals work as motivational tools that will keep you from building wealth instead of the other way around.  This should be specific and time-bound, like “By the end of this year, I should have 50k savings.”

      Start small and make it a habit. You don’t have to make it big at first. Always start with a small and doable amount.

Psych yourself and your wallet on saving 1000 pesos every month for example. At the end of the year you’ll have 12,000 pesos more on your savings fund.

Do not force yourself to save a lot of money at once, make it as gradual as possible so you won’t slack off midway.

Join saving challenges. A good way to force yourself to save money each month is to join challenges. You can try the 52-Week Money Challenge, Invisible Money Challenge, 1% Money Challenge, and so on.

Increase your income.
Our savings can be limited because of our income. Thus, try to increase your sources of income as much as possible. Engage yourself in extra income projects that you are passionate about. Choose a side hustle you can work on along with your full-time job.


And to match your Ipon Power Saving moves, find a partner where you can safekeep your savings. Cebuana micro savings is one perfect option.  Why?

  •       Minimal requirements to open an account

  •       No minimum initial deposit required; you can open an account with as low as P50 Initial deposit.

  •       Higher Interest Rates at 0.2%

  •       Does not impose Dormancy fees

  •       You get Online power thru the eCebuana mobile app. This app enables clients to access their micro savings account, send money to loved ones and even pay bills

  •       You can deposit and withdraw at any of the 2.500 Cebuana Lhuillier branches

  •       You get an ATM powered by Bancnet


There are indeed many ways to SAVE! You can google for tips from experienced thought leaders in this field. You can find strategies up to the smallest detail in the web. But your success in savings will all depend on you, set your goal... Be an Iponaryo now!



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