Saturday, January 4, 2014

Saving Thought-Strategy

I am currently reading Suze Orman's books and came across this gem of an idea, which we know anyway but tend to ignore:

"Just because you can afford it doesn't mean you should buy it."

iPhone plans are cheap in the Philippines. You can get an LG G2 unit with unlimited data and hours of call-time at 41U$D a month. Clothes are relatively affordable with Guess and Bershka averaging 55U$D per article.

Indeed, temptations are everywhere. But when you wear that little advice around your neck, and recognize that your 50USD (P2000.00), if invested instead, say, in mutual funds or UITFs, can make you financially secure in the long-term, then deferring gratification will come in easy.