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How to Save Money this 2023

by Bogie January 2, 2023

New Year, New Goals. The start of the year is the best time to set practical financial goals. You might be one of the few people who struggled with saving money for the past years, and the new year is one good opportunity to get a grip on your money. Here are a few tips on how to save money for this year.

1. Review Your Finances

If you are to check on your bank book today, how much is the balance? Have you reached your saving goal for the year? If not, it’s time to assess what money is coming in and what money is going out as you spend.

According to a survey, one of the reasons people find it hard to save money is Money Mismanagement. People often make financial mistakes by overspending and not having practical goals for their money.

This year, take a realistic look at your current spending patterns, assess them and do something about them. 

2. Have a Budget

When I was in college, I had an opportunity to join a Financial Management seminar. One of the topics discussed was Budgeting. During the discussion, I asked the speaker if I need to budget my money given the fact that I am only depending on my school allowance. The speaker replied, when you know that your resources are limited, it is all the more important to have a budget. It will help you manage the little amount of money you have.

That lesson taught me to create a budget and stick to it. I am not a perfect budgeter, but having a budget helps me spend within my means. It allows me to focus on buying only the things that I need.

Moreover, having a budget allows you to assess if you need to make more money so you can set aside enough money for savings every month. This year is the best time to start budgeting. Don’t wait and start today. The tiny step to budget is better than the perfect budget you have in mind.

3. Pay Debts and Do not Acquire More Debts

Many people find it really hard to save money because of debts. Others are stuck in the habit of paying one debt and acquiring another. When debts are accumulating, this means you don’t have enough money left over to save. 

If your goal is to save money this year, start first by paying your debts. Start by writing all your debts, the amount owed, the interest rates, the minimum monthly payments, etc. Once you have written everything, make it your goal to pay for everything at least with the minimum monthly payments. Don’t think about skipping payments as this would only make things worse. Start paying off small debts and do not acquire more debts. This will surely take time, but you can do it. 

4. Cut Back on Expenses

If you find it challenging to save as much money as you’d like, it might be time to cut back on your expenses. Try to look for ways where you can lower your monthly fixed expenses and trim down daily expenses.

One good example of this is to consider examining the cost of eating out or preparing home-cooked meals. 

5. Start Saving Now

The best time to start saving is now. Even if you have debts to pay, set a goal to save money. You can start small and increase your goal each month. A savings goals calculator can help you with your plan to save. It will help you answer the question, “How much money will I save each month?” and guide you to enjoy your savings in the long run.

Whenever you are saving money, remember that this money should not be spent. Your goal for this money is to make it grow and use it when needed.

Economist William Wood says in his book Getting a Grip on Your Money, “Every day people make personal financial mistakes because they do NOTHING. So, let’s do something with our money this year… the goal is to SAVE.

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Meet Maya: It’s Everything and a Bank

by Bogie May 5, 2022

Top-rated finance app PayMaya has evolved from an e-wallet to a powerhouse all-in-one money app called Maya. It’s everything and a bank – and it’s available for early access to users starting today.   

Maya combines the popular PayMaya e-wallet with new features like crypto, and an innovative digital banking experience powered by Maya Bank, to allow you to spend, save, grow, invest, and master your money — using your smartphone. 

Maya will make your money work harder for you than any other e-wallet or bank in the market. It is completely free to download and register from Google Play or App Store.

The new Maya comes with an array of features that make money handling easier and more seamless. 

  • Maya Savings is a high-yield savings account with a 6% introductory interest rate, the highest offered by a local bank today. This initial offer is available until August 31, 2022. It is powered by the BSP-licensed digital bank Maya Bank, allowing you a seamless experience in-app when saving your money. Eligible PayMaya customers will be able to move money from their e-wallet to Maya Savings with just a couple of clicks in the app and earn interest on their balance! All you need is an upgraded Maya account to access this feature – and it requires no maintaining balance.  

  • Maya Credit is a virtual credit line that lets you borrow up to P15,000 within the app. You can use this to pay your bills, buy groceries, purchase load, or upgrade your smartphone! This credit line can be accessed in as fast as 60 seconds for eligible users – giving you cash in a flash whenever you need it.   

  • Maya Crypto is the easiest way to start your crypto journey. You can buy, hold, and sell popular coins, including Bitcoin, Ethereum, Solana, Tether, and more, for as low as P1 all within the Maya app!  

  • Maya Wallet continues to have all the e-wallet features that made PayMaya the top-rated local finance app in the country – only now, it comes with a revamped customer experience. You can still enjoy free cash-in through over 90,000 touchpoints nationwide so that you spend your money on the things that matter. 

And that is not all. Soon, you will be able to go from light mode to dark mode on the app. To make your experience even more personalized, you can even own a username that will serve as your new Maya identity for a quicker and more convenient way to send and receive money.   

Also coming soon is Maya’s goal-based savings that will allow you to set aside money to buy your first vehicle or take that well-earned break.  

Maya integrates all these features into one seamless in-app experience. This money app is easy to navigate – with Wallet, Savings, Credit, and Crypto, just a simple swipe or tap in one app.

“Maya is all about challenging conventions – and this translates into the experience we’re giving our users with this new all-in-one money app. With this transformation, we want to enable Filipinos to make bolder choices with their money and seize opportunities – big and small,” said Shailesh Baidwan, President of PayMaya, and Co-Founder and Board Member of Maya Bank.   

“We are combining the power of an innovative wallet and a secure, progressive digital banking experience powered by BSP-licensed Maya Bank to transform how Filipinos experience money. This unparalleled digital app experience is supported by Maya Business, the country’s leading payment processor for enterprises, and the widest on-ground network of Maya Center agents,” he added.  

Co-create a revolutionary all-in-one money app  

Maya invites you to co-create the best all-in-one money app by joining the Maya Early Access Challenge.   

Apart from being the first to experience Savings, Crypto, Credit, and more – you can also have the chance to become the first-ever Maya bitcoin millionaire! All you have to do is take the challenge!  

Interested in joining? Here’s a quick guide:   

1. Just download Maya, and register. 

2. On the app’s home page, tap the ‘More’ button and choose Missions. You’ll be able to join the Maya Early Access Challenge from there. 

 3. Cash in at least P100 and upgrade your account to unlock Maya Savings with its 6% interest rate.  

Opening your Savings account via Maya will earn you points for the challenge. You earn more points whenever you complete more Early Access Challenge missions, including sharing your feedback on the Maya app, referring your friends to Maya using your code, and using more Maya features, including Pay Bills, Buy Load, and more.   

You will be assigned a Maya level, depending on your score:  

  • Maya Master for the top 5% of users with the highest score  
  • Maya Enthusiast for the next 10% of users with the highest score  
  • Maya Explorer for the next 15% of users with the highest score  

The higher your score is, the more chances you have of winning this and other exciting prizes!  

Maya Explorer-level customers will get a chance to win P300,000 worth of Bitcoin. Maya Enthusiasts can take home P600,000 worth of Bitcoin. And Maya Masters have the chance to take home another P1,000,000 worth of Bitcoin!  

On top of this, all participants with a Maya Savings account will get a chance to win P1,000,000 worth of Bitcoin.

To know your point score, you will receive an SMS with a tally of your score, and you can also check the leaderboard on the Maya homepage.  

Maya will make your money work harder for you than any other e-wallet or bank. Download the app now and register to experience this new all-in-one money app and get a chance to become a bitcoin millionaire!  [END]

About Maya

Maya is the all-in-one money platform bringing Filipinos bolder ways to master their money. It is powered by a unique integrated financial services ecosystem that addresses the ever-evolving financial needs of today’s generation through cutting-edge technology. 

Maya leads millions of Filipinos — consumers, businesses, communities, and government agencies alike — into a digital economy that’s more inclusive, transparent, and empowering. Maya is powered by the country’s only end-to-end digital payments company, PayMaya Philippines, and Maya Bank for digital banking services.

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Use Your Credit Card Wisely

by Bogie February 26, 2009
It’s very interesting to know that nowadays it’s very easy to apply for a credit card. Credit card companies will just have to call you in the office or at your home to avail of the application. If they can’t reach you at home they use the internet for you to apply credit cards online. The application is very easy and once you’re approved it’s very tempting to go shopping and buying all the stuff that you want. This happened to my co-worker before. She was so happy when she finally received her credit card. After that, she went directly to the mall and bought her favorite signature bag, shoes and clothes for her children. Her expenses amounted to more than 15,000 pesos just for one day. Wow! She amazed me. After one month, she wasn’t able to pay her bills and the credit card company made a decision to suspend her account.

To prevent problems like this to happen, we need to use our credit card wisely. We need time to evaluate our resources and plan the things that we want to purchase. If you want get to know more about credit cards, credit card offers and how to use your credit card wisely, check out yourcreditnetwork.com.

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