NU12 #4, New Spending Habits/Routine: How to Control Your Self in a Grocery Store - Alvin Bilolo

NU12 #4, New Spending Habits/Routine: How to Control Your Self in a Grocery Store - Alvin Bilolo

We usually go to the supermarket to buy groceries every week. Since we are doing it in a weekly basis, it is indeed expected of us to buy a lot of things that we usually need such as food, toiletries, detergents and similar stuffs. I noticed that whenever we do this, we usually run out of our budget. We spend more than what we should! Because of this, I thought of things that we might have been doing wrong and how we can resolve this recurring problem every week. I am proposing the following things to be done whenever we have our grocery and develop these as a habit:

• Never go to the grocery store if you are hungry. We have the tendency to buy more food when we are hungry. Believe it or not, we can easily be tempted to buy more since our system tells us that we need more. We cannot easily think of those things that we really need. We should already eat our meal before we go to the grocery store. This will give us a sound mind to stick to our budget and buy only those that are essentials.
• List everything that you need before going to supermarket. This will make allow us to do our grocery experience faster. We must buy only those things that are included in our list. This will require us an ample time to list everything beforehand.
• Never bring your credit card if it is not needed. The more we know that we have a spare credit card to buy things that are not included in our grocery list, the more we are tempted to spend more. Our goal must be to buy only those things that we need.
• Change our grocery schedule from weekly to bimonthly. We must limit our grocery experience to only twice a month. This will help us not to be tempted more often.
• Refrain from buying bulk stuffs. An example of this is that if we are going to buy 5 dozens of detergent powder, we'll have a piece of detergent bar free. This will induce us to buy things that we really do not need.

Our grocery experience should be great. And this will only be great as it is if we will always stick to our budget and save a lot of money and time. 3

NU12 #2 - New Spending Habit/Routine - Lea Olegario

NU12 #2 – New Spending Habit/Routine – Lea Olegario

To Improve Promptness or TIP is something I always do starting when I came back from the states. In the US, it is expected that you give a TIP of about 10-15% of your total bill. If you did not give, the manager of the restaurant will talk to you to ask you if there was something in the service you did not like. This was really new to me and to avoid the embarrassment of being talked to or being branded as a 'stingy Filipino', I gave my dues.

When I was in the Philippines, before my US trip, I leave TIP only when there are some coins in the change and sometimes I leave nothing. After my US trip and I went back home, I now always leave some amount of money, maybe not 10-15% of what I ate but I make it a point that it is not only a few coins. My reason was that if I was able to give to Americans, why can I not give to my own people?

Also, I give specific waiters or servers special TIPs of significant amount when I see that they are doing their job really well. It comes as a big surprise to them always that customers will give them a big amount. It makes them swell with pride and lets them feel a sense of importance in what they are doing. When I do that, I see an instant change in them - they become more polite and even open the door for you when you go out of the restaurant or facility.  When you come back, they smile and treat you really well. Giving TIP has now been a habit and I do it all the time – in restaurants, taxis, hotels, and any customer-serving attendant I am fully-satisfied with. Yes, it adds to my expenses but this is little compared to the value it provides to these people I am giving to and will also benefit other customers including myself as the service personnel are encouraged to 'improve promptness'. 3 <how generous and compassionate>

NU 12- New Spending Habits- Joseph Cunanan

Ateneo Innovation and Entrepreneurship "New ideas create more and better new products and services; create more wealth."

New Spending Habits/ Routine

When I was still a college student, I said to myself that the moment I get my first job, I will and I must
be able to buy the things that I want, and on the side, I must be able to save a little amount of money
for emergency purposes. But as I grow older, I realized that as a wise person I must strike a balance
between buying & saving.

Before, I used to buy things that I want, but now I started to buy things that I need. Before I purchase a
product or service, I ask myself first the ff questions:

ü Is this something that I really need?
ü If I buy it, what benefits will I get it?
ü Are there things that I already posses that If I buy this particular product, it will
become redundant?
ü What’s the value for my money?
ü Are there alternative options in the market that are more reasonably priced?

The questions listed above helps me in making decision when I spend my money. I want to make sure
that all questions are satisfied because I believe that money spent, is a money lost. So I have to make
sure that I get the best value for my money.

Another thing that I started to change just recently is the way I use my credit card. The schemes offered
by major credit card companies like buy now pay later, 24-36 months payment instalment options with
0% interests and all the freebies and stuffs that go with it, are all exciting and enticing. I must admit that
I was able to invest on furniture and appliances using these schemes and I really love it; no regret. But
now, I promise to myself that I will only take advantage of this payment scheme for the things that I
really need, not for special gadgets or technology that soon will lose its lustre right even before I finish
paying for it.

In terms of saving habits, I will open an auto-debit savings account the moment I get my salary increase
in Feb 2013. I plan to save this amount every month so I have a spare amount of money to use for
emergency reasons. The good thing about this auto-debit process is its convenience and practicality.
Convenience because it will automatically be debited from my payroll account, practicality because you
can change the amount to be debited per month, following your own debit schedule, plus you can’t
withdraw the money without going to the local bank’s branch. This will encourage you not to withdraw
the money that you saved.

These are the major changes i wish to take in my spending habits for 2013. I wish to be able live up to
these changes and see the financial gains for myself.3

NU 12 New Spending Habit by Dr Yes

NU 12

NEW SPENDING HABITS

 Buy what you need and a little of what you want.

"Everything has its price". A phrase that once was what I always say to myself, that the day will come when I can get all what I wanted. We are not rich people who seem to get all their needs and all that they wanted plus more. We were just fortunate because our parents have worked hard enough all their life to provide for our needs and some of what we wanted. After my folks send me to school, supported me on having a family at a young age, and built a very strong foundation for me and my siblings, as well as for our own families, anyone can say that they should be very much contented on their retirement.

 But retirement did not materialize as my mother still attends to her loyal patients. Our father and my two older brothers passed away few years back and it was them who used to manage the family business. Being the oldest among the three remaining offspring's now, our mother entrusted me the responsibility as administrator of the hospital. She said to me that the establishment is not only for the three remaining offspring's and she would be so very much happier if we can maintain the operation of the hospital for her grandchildren and great grandchildren.

With that advice in mind I better be very cautious in what used to be happy go lucky attitude especially when it comes to spending habits, which is to buy what is needed and diligent self-control in getting what I want.  3

Dr. Yes

February 23, 2013

NU 12 Week 2 - New Spending Habits/ by CdlC

Hi Sir Saguinsin,

Kindly acknowledge receipt of my NU 12 Week 2 - New Spending Habits/ Routing.

I also sent the other two homeworks last week - NU 12 Week 1 and Factors Paper. Kindly acknowledge receipt for both as well. 

Thank you very much sir. Merry Christmas!

Warmest Regards,

Camille Dela Cruz

ENTREP S20

ENTREP S20

Mr. Jorge Saguinsin

NU 12 Week 2 – New Spending Habits/ Routine

Camille A. Dela Cruz

Looking over which NU topic to write about, I was delighted that the next topic– New Spending Habits/ Routine was the topic for week 2.  I was enthusiastic and excited because this was the topic that I greatly relate too. I've been experiencing financial difficulty recently due to my undisciplined spending habits, which is unacceptable and needed immediate improvement and change.

In my family, I was known to be the most "kuripot" person. I would rather save my money than spend it on anything. One weekend in 2001, my mom was quite surprised to see bundled money in a square rusty tin can (hehe.. apparently that was piggy bank at that time). She confronted me when I got home and asked me where the money came from; she was astonish to find out that I've been saving 100% of my allowance and not spending a single cent. Growing up till college, I had that strong discipline on spending, however, it all changed when I started to earn my own money. I was spending lavishly to the point I was consuming beyond my means. There were several reasons behind this irresponsible action: 1. I had no control 2. I wasn't aware of my priorities yet 3. I was enjoying too much. All of these wrong perceptions led me to a path of destruction. I ended up having a huge amount of debt on credit and no savings at all.  

Before the year 2011 ended, I had to talk and push myself to fix the financial side of my life. During the course of this self-reflection, I came up with a 2-year road map, a vision on where I want to see my financial matters 2 years from now and what strategies will I do to reach this objective. A part of the strategies is identifying what my monthly expenses are. I realized that I wasn't aware anymore how much money I bring out. These expenditures are the essential things I need to spend on, like medicines and personal toiletries, and exclude those unnecessary like clothes, eating out, watching movies, etc. At first, I wrote everything down and kept the receipts but it was so tedious and there were several times I would lose the receipt or forget to log my expenses. Since technology is sort of man's best friend, I used the available apps that would help me log all my expenses and see everything instantly. I know this isn't new for everybody but it was definitely new for me! I never knew that technology could be of a big help to my dilemma. Every time I would spend, I would just log it into the app and then it will automatically add up and instantly show how much money I have left. So after using the app, I became more aware of my monthly expenses. This awareness gave me the ability to know and control after. Just the opportunity to know made me really happy.

I believe the importance of all of this, is that when the moment comes when an aspect of your life is turning to be uncontrollable or in a bad light, one must STOP, be aware that there is something wrong, find out the reasons behind it and take action to address such before its too late. I always believe that people are responsible for their own lives and they should not blame anybody but themselves. In this experience, I learned to take things in my own hands and change the course of my life and lead it to a better path. 3

NU 12 # 1 by Peaches

NEW SPENDING HABITS Filipinos have different attitudes on spending,  It may sound good, but it seems that the "good old spending habits" are not that good at all. On observation, I may describe them to be the ususal "one day millionaire" who spends as if there is no tomorrow,   "the occasion spender" who spends only as the occassion calls for, "the conscious spender"  who thinks a hundred times before getting out that money from the bag or "the minimal spender" who  are typically the Ilokanos who spends only as needed and keeps tracking down the smallest centavo spent. Where do you belong? Is spending a habit? Is one born with it? Is it ones' culture? Or is it just a matter of having something to spend either  for a need or a want? Each one has his own reason and  spending habits are developed and eventually be part of one's system that may either  lead to a good or bad outcome.  But in reality, "good old spending habits" are not good at all. But how do we combat this? Unfavorable results can be prevented by  establishing new spending habits thru practising "pre-spending habits" . I believe that these will be an effective tool as guideline prior to one's actual spending and be very helpfull in breaking the " old " spending habits which must be put to a stop. According to Erin Huffstetler, breaking the "old" spending habits, which i consider to be "pre-spending habits" are the following: 1."Go CASH-ONLY!" Leave your credit cards at home. 2. "SET LONG TERM GOALS!" Save money for a vacation.       3. "DISTINGUISH BETWEEN NEEDS AND WANTS!" What's the impact of your             purchase? 4. "SHOP WITH A LIST!" Consider this list only.       5. "GIVE YOURSELF AN ALLOWANCE!" Decide onhow much money is allowed to             spend only.        6. "INSTITUTE A COOLING OFF PERIOD!" 7. "FIND A SHOPPING BUDDY!"  This is to personally say NO to your impulses. 8. "SHOP WITHOUT A CART!" 9.  "LET SOMEONE ELSE SHOP FOR YOU!"  This is to avoid impulse buying. 10. "SURVEY YOUR SELECTIONS." Edit and Check, no more no less!  If these are the ten things you would contemplate on before spending, I assure that this will be an effective tool as  the new "pre-spending habits" and in the latter would prove what DanCoyle  said,   "DEEP PRACTICE DEVELOPS TALENT". <Dan Coyle?>3 PEACHES

NU12 # 12 New Spending Habits

----- Forwarded Message -----
From: leia pichay <leia_pich@yahoo.com>
To: "jorge.saguinsin.sentrep@blogger.com" <jorge.saguinsin.sentrep@blogger.com>
Sent: Monday, 5 November 2012, 20:29
Subject: NU12 # 12 New Spending Habits

Hi Sir, 

Please see below for my NU12 #12 NEW SPENDING HABITS (my last two entries dont have a grade):

I am an impulsive buyer ever since I earned my own money.  Since I worked for a credit card company before, I was offered credit cards from almost all the banks in the country.  Three years ago, I joined an eye-opener event.  It made me realize to be more practical and to be more frugal.  Also, I learned to share my blessings.  I set a portion of my money every year to buy school bags and school supplies for my chosen school.  Every year, since then, I have my Bag-to-School Program wherein I donate bags to elementary kids around 100 kids.  In order to balance or budget my money to my annual program, everyday needs and wants, I have set up the following as my new spending habits:

1.  Maintain 2 credits cards

From a number of 10 credit cards, I maintained only two credit cards.  If before I use it to purchase clothes, shoes and food, I only use it now for emergencies.  If in case I want something, I only purchase what I can pay for the due date.  I don't use beyond what I can pay.  Also, I pay my dues on time and the full amount so as to prevent paying late payment and other penalty fees.  

2.  Make a list and maintain an inventory of available items

When going to the grocery, I purchase what is indicated in my list.  Also, the list is in my phone so that anytime I can check what I need to buy.  I maintain an inventory of items I have in my phone.  For the clothes and shoes, I make a list quarterly that I need to buy and update my closet.  I diligently follow the list so as not to overspend.  Also, I keep track of all the things I have like list of books, crafts supplies, etc.  I have an inventory of the things I have so as not to duplicate the things I buy.

3.  Keep all the coins even to the last centavo

Before I used to disregard the coins and just leave them anywhere.  But I started keeping all the coins and realized that I earned more than I expected for the year.  I keep two coin boxes that I don't open until the end of the year, one is for 5 peso coins and the other is for 10 peso coins.  Also, I have a separate coin box that I can get coins or use anytime.

4.  Stop buying Magazines

I love buying YUMMY, YES and other magazines.  I realized that I spend too much on them and that I use or read them only once.  Since then, I stopped buying magazines and instead I read from the Internet for recipes and other news.  Also, I just borrow from friends or relatives if I want to read magazines.

5.  Cut down on cellphone bill

I keep track of my cellphone usage so as not to exceed the limit I have.  If I can email or use iMessage to communicate with someone, I do so so as not to deduct my text/call usage of my limit.  If I can use the landline, I usually do so so as to limit my expense in my cellphone bill. 3

NU2 by Maica Sy

NU12 IDEA#2 New Spending Habits by Maica Sy Our spending habits usually and typically influenced by the people around us. How familes and friends spend their own money may also affect and influence us. Do you think you were influenced, for better or worse, by their example? Get a piece of paper and list your money habits by two categories: Good and Bad. Examine your list carefully. What works for you? What gets you into trouble? Your list of good habits might include never borrowing from friends or your ability to set aside money to build up an emergency stash. Then, consider what conditions create the bad habits. How often do the bad habits get you into trouble? What could you do to change? Write out a plan that will help you stop repeating the bad habits. Be sure to give yourself several options, in case one of your strategies fails. Not all plans work out, so be flexible and ready to try another approach. Be creative when coming up with your plan. Many options are often available for getting what you want without spending money. Is it possible that you have time for a part-time job that would expose you to a hobby you enjoy? For example, while scuba diving is expensive, you might consider a savings plan to pay for training as a dive instructor so that you could eventually afford the sport by becoming a paid instructor. Think that's a daydream? Hardly. That's how you will develop good habits and discard the ones that hold you back: one small step at a time. 2.5

NU 2-Spending Habits by ABG

NU12 #2

NEW SPENDING HABITS

ARLENE BUAN-GERONA

Having been married for a year now and being a new mum, has brought several changes in every aspect of my life including my personal financial management; my spending habits have changed in so many ways…

To begin with, I decided to cut my other credit cards. I figured out that I only need 2 cards; one card for my personal expenses and my daughter's, and the other card for household expenses. Maintaining two cards enable me to easily track all the expenses, and I am able to monitor the level of spending I have for personal and household needs. I started to allocate a monthly shopping budget for my daughter and myself. J

I confessed that I used to follow all the sale events of almost all the shopping malls in the Metro, but later I realized that shopping during sale season is causing me more because I get to buy things that I don't really need, but I end up buying anyway just because they're on sale.  My paradigm on Sale has shifted to a wiser and practical attitude. Last week, I went to S&R for some grocery shopping, there was a huge sale going on, nice deals are being offered! I am proud that I am able to stick with my grocery list and ended up buying only the things we need at home. Getting the items on my list at a lower price---that's SALE!

Grocery shopping constitutes big chunk of our household budget. It's becoming my training ground on how to be frugal. J These are just some of the tips I figured out on my own:

·        Shop with a grocery list: I make an inventory of the items left in the pantry and fridge and come up with a list.

·       Prepare a Weekly Menu: I plan for a menu good for at least a week. It allows me to have a complete list of ingredients I need, and this way I am able to maximize every ingredient. I shop once a week to save on gas. J

·        Look for "Specials": Every grocery store has special lane/corner where promos and discounts are being offered. There are also promos by credit card companies. I update myself with all these promos! J

·       I buy in bulk for common items: I do computation and buy in bulk for items that we use so often like shampoo, toothpaste, laundry powder, some seasonings, etc. I look for special deals.

·        Try some local brands: I look for some alternative brands which are more affordable. Pigeon baby soap versus Smart soap gives me 40% savings.

 Lastly, I keep my receipts and record the prices of the common household items. I keep an excel file of the pricelist for each store and compare which store offers good deals.:)

NU 12 (1) Abellera, Hanna - New Spending Habit

NU12 (1)-New Spending Habits

Hannah Rhuelle B. Abellera

S10-ENTREP

As a single and independent person, it is very important that I am practicing the proper way of saving up and spending money. It would also help if I would be settling down and have my own family. It is wise and practical if person knows where the hard earned money goes. I would like to keep myself away from buying of unnecessary items.  To have new spending and saving habits, I have thought of the following that might help:

·         On pay day, I would separate an amount of money for my monthly obligations like cellphone bills, credit card bills, and contribution to house expenses and others.

·         Deposit an amount of money immediately on my savings account

·         If I want to buy something new  for myself, I'll just stick to the range of price I'm going to buy

·         I'll withdraw the 1^st week's allowance and leave the 2^nd week's allowance, just withdraw one week at a time

·         Budget my weekly activities, I would make a list on my regular spending on a day and then add an excess on my budget (in case there's an emergency spending), that would also include if I'll be having a hang out with family, boyfriend and friends

·         I would buy a small index card box. Inside it, I'll put partition, index cards with labels on top. Labels would be indicating the names of the days of the week, monthly obligations and additional savings

·         I'll place the money in each day, I would really try to strictly follow the set budget on that day and at least still have savings from it

·         If I would save from a day's budget, I would place it in the index card box in the "additional savings" or "monthly obligations" labeled partition. This would serve as a fund and that would depend whether I am going to buy things for myself or add it to my monthly expenses. And if this would be successful, then this routine would continue, hopefully.

If I could abide in my new spending and saving habits, it would make my savings account intact for future spending. The savings can be used for travelling, investing it in venture and other higher purposes.

Nu12 - by CJC - New Spending Habits

NU 12 – Week 5

NEW SPENDING HABITS / ROUTINE

                Being a full time student, I have no income generating activities. It is a hard task managing what is left from my former work's savings. How do I survive? Fortunately, my mother gives me an amount of cash to survive a day at school. That's the only income I'm getting ever since I resigned from my work. On the other hand, I haven't been productive in the past two years. I have always been at home watching the television, reading a book or surfing the internet. Unhealthy, isn't it? How do I break this chain? How do I manage the little money I have in my wallet?    <be engaged in  a sideline)

1. Set Long Term Goals

                Since I'm in my 20s, I should be able to distinguish my long term goals already. Setting goals with their appropriate dates to make sure I can accomplish everything in time. Deadlines will be helpful since these will motivate me to meet my long term goals. But how do I do these things if I still don't know what I want to do with my life? Before everything else, I should know what I enjoy doing and where I'm really good at.

2. Stop/Control Impulsive Shopping

                If setting my long term goals isn't enough, I should make a list of what matters the most at the moment. One thing I really love to do is shopping. But since I have no income nowadays, I should know that this activity should not be my priority. Instead, if I organize my closet habitually I know I can find a lot of clothes that still fits me and I wouldn't need to shop for clothes until whenever.

3. Budget my allowance

                Since I only get allowance depending on how many days I go to school, it's really difficult to save money. However, if I can think of other ways so that I can minimize my expenses like bringing "baon" or choosing meals/snacks that are budget friendly then I can save a bit from my allowance.

4. Use Credit Card for REAL Emergencies – not when I see cute shoes or books or clothes

                When I was in college, my mom gave me an extension of her credit card for emergency use but there are times when I can't help but swipe that card when I go inside a bookstore or a boutique. This must be hard to do but I really need to start over and use the CC for its real purpose.

5. Stop Checking Facebook for awhile. Or limit checking of Facebook into 2 hours per day.

                Limiting the use of Facebook and other social networking sites does not affect my budgeting. However, these social networking sites have been the means of being unproductive and/or procrastination. By limiting myself to use these will motivate me to go out and see what's outside the four corners of my house. These activities outside may also help me form an idea of a business or something that will keep me productive.

6. Read More Books

                I am a fan of books, preferably fiction, but lately I've been having a hard time finishing a book. I've so many unread books at home and because I am in tight budget I should keep myself from buying a new book until I finished all my pending books at home. By reading these books, I can also get a business idea out of them.     <many free e books are available..  I saved a bundle by subscribing to free ebooks>

7. Monitor / Create an Inventory of my things

                One of the ways to get organized is to monitor my own things. I used to have an inventory of my books written in a yellow pad but didn't continue. So to help myself by monitoring my own things, why not create an inventory? Using the MS Excel, I can monitor my books, clothes, accessories, etc. to know how many I have and/or who borrowed my things so I'll know where to find them when I need them. This is also a good practice for the future. 3.5

Thank you sir!

Cathleen Jem Caraig 

Fwd: NU 12 - New spending habits by LA

---------- Forwarded message ----------
From: Lourenz Acosta <lourenz_acosta@yahoo.com>
Date: Mon, May 7, 2012 at 10:33 PM
Subject: NU 12 - New spending habits

New spending habits / routine As a start-up entrepreneur, there are new spending habits that I have to practice. With the loss of a regular paying jobs, I am now faced with probable cashflow issues. The general idea is to curtail spending on leisure related items and save up money for build the business. Margins will be allocated to acquiring new assets that would increase the construction capacity of the company and minimizing expenses on transportation, meals, and other general expenses. The general notion would be to minimize spending on myself for now, so I can be able to pay off suppliers and workers on time. 3

-